American Express canceled my credit card due to credit report of nonpayment of another account past 90 days. Fine. There was a credit of $37.21 on my credit card account. Over a month went by and I didn't hear anything from them. I recently received a credit card statement stating that I had no payment due and that my account was NOT closed and my limit had been reduced. So, today I go to use my card, and it is denied. I called them and they said that my card account was in fact closed. When asked about my credit (money owed to me), they said that they do not send it back unless it is requested by the customer. How do you close somebody's account and keep their money??? Don't you have to balance it out to zero in order to close the account? This is the first time I have ever heard of this. Sounds to me like they just like keeping money. That is totally unprofessional and unethical. Absolutely ridiculous coming from such a large corporation. I was apalled. I wouldn't open another credit account with American Express ever again. I would advise others not to as well. Oh, and they also said that I couldn't use the points that I had ALREADY EARNED from previous purchases. BEWARE!!!

My wife and I are also dealing with American Express. People beware!! Their policies are wrong and mean to do harm. We never paid a bill late and always try to pay more than the min. due. In the last 6 months we have only paid the min. twice and all the other times at least 25 percent more and sometimes even double the min. payment. They have made a negative impact on my credit and I warn anyone who uses them to be ware if you carry any balances. They offer you a high credit line at first and then start dropping the credit line to what your credit balance is or real close. This impacts your credit in a negative way. My wife and I have reported them to the Better Business. The customer service is worthless. Talking to people in Miami, Florida is also worthless. For those who do not know, but that is where the complaint department is. Do yourselves a favor and throw the card in the trash. The best thing for this company to do for America is to go out of Business. My wife and I have our credit monitored and the company instructed us that their practice is what is lowering our score. We have a high credit score; we just want it to be higher. This is just to warn people.

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AMERICAN EXPRESS CAUSED ME A LOT OF GRIEF TODAY. I can safely say that American Express really hurt my business today. It has also hurt my relationship with my vendors. I have an American Express card with "no pre-set spending limit". Now, I know that it is a trick. From $275, 000/ month, they have lowered my limit to $203, 000, then to $165, 000, then to almost nothing OVERNIGHT. No notice, no nothing! They hide behind their terms and conditions that says, "We have the right to decrease your credit limit at any time". Their CSR's are heartless. No sympathy on their part when I told them that by cutting my limit more than 50% WITH NO WARNING whatsoever, that my cash flow is adversely impacted. This company is bad! I was very loyal to them for 7 years. I referred all my friends and business associates to them. Now that I need them, they say F--- You! I asked for a 5-day extension to pay down the balance so I could use my card to pay off a vendor (even if the payment was not even due another 30 days!!!). They said, "No! Pay $80, 000 and you can use $40, 000." I told them I will think about it. (I had no choice). The next day, I said, "Fine, I will pay you the $80, 000 and make a $40, 000 charge." Shockingly, they said, "No. Now, you have to pay $165, 000 to use the card". I told them that the payment is not even due until 30 days later and they want me to pay of $165, 000 IN ONE HOUR? Where would I get the money from?" It would take me at least a week to collect that from my clients. They did not care. They said that is what it is. So, I told them that I will just use a company check to pay my $40, 000 bill and will not use the card. American Express will not make another penny from me. I will also tell all my friends and business associates about this experience. American Express need to remove the word American from its name. Change it to Bastard, instead. I will now apply for a Visa and with my excellent credit and $10 million/year in sales, I don't think that I will have any problem getting a high-limit card. Maybe, Visa will be loyal like me!

American Express cancelled my credit account without notifying me. I have consistently paid my balance in full each month, and have never missed a single payment. When I tried to pay for dinner the other night, my card was declined. I was sure there was some mistake, so I paid with my Visa and planned to call AmEx the next day to see what the story was.

After two days of getting the run-around on the phone, I finally spoke to someone who told me that in light of my recent credit profile, I was deemed to be high-risk and my credit account was cancelled. For the record, my credit score is waaay above average and I have no deliquencies on my report. The rude customer service rep told me that a letter was mailed out to me seven days after my account was cancelled. I never received this letter, but that matters not. I am sympathetic to lending agencies given the current economic situation, but the way American Express treats it's customers is infuriating. My suspicion is that because I pay my balance off in full every month, they are not making enough off my account in the way of interest.

My main concern is that this event will negatively affect my credit rating. As far as the account goes, I am happy to be rid of it and will vigorously campaign against American Express for their unfair business practices.

Something has to be done to stop the unethical business practices of American Express. We have had our Gold Business Card since 2007. We have used this card as a small business to help with "cash flow" the way the card was "pitched" to us. We have been EXCELLENT cardholders. Paying the balances in FULL every month.
In October 2008, AMEX sent several invitations to sign up for the "extended payment option" as another useful tool for small business! Their exact wording is: "YOU'LL HAVE THE FINANCIAL FLEXIBILITY YOU NEED TO MEET UNEXPECTED BUSINESS CHALLENGES WHILE STILL RECEIVING ALL THE BENEFITS OF YOUR BUSINESS CARD". Being a small business in these tough economical times it seemed like an answered prayer or maybe a reward finally for being a good customer! During Novemeber and December we used the extended payment option while also continuing to pay the minimum amount due in full on time and sending extra towards the "flexible payment" total. Suddenly, in January 2009 AMEX decided to change their minds. No longer were we credit worthy for the extended payment option. There was absolutlely NOTHING different with our credit, or our spending, or our payments from 2 years ago never mind 60 days ago! After endless phone calls and being informed about EXPERIAN and the "debt/credit ratio" script that they read from, they now want the ENTIRE BALANCE of the EXTENDED PAYMENT in FULL and since we couldn't do that because we were told in black and white proof "this was flexible and extended", they stopped our ability to use the card!
Without any Warning, without doing anything wrong they put this small home contractor business to a complete hault. We explained over and over, why this is so wrong to do to excellent customers. What would our country do if all of a sudden the banks that hold our "balances" on our mortgages and cars, all of a sudden changed their rules, and they called you and said, thanks for all those years of ontime payments BUT we want your FULL BALANCE now or else, (take your car, lose your home, etc). This has to be illegal. I know they cover themselves with microscopic legal jargon about they reserve the right to change..blah blah blah, but c'mon, this is ridiculous. I made it perfectly clear that without the ability to use the card as our cash flow tool in this line of business (especially without any warning) it would cause us to not be able to purchase the materials to finish the jobs, which means there would be no income to pay them at all. Wouldn't it be better for everyone if you could allow your Excellent customer to continue to use their card (keep in mind they make interest on the balance carried in the flexible/extended pay option too) so they can continue to get their materials to do the work, get paid, and pay our bill? I don't think you need to have a MBA in finance to figure that out! I think AMEX is trying to default accounts. Purposely trying to have more deliquent customers so they can get a bigger chunk of the stimulus bailout! There has to be some criminal minded reason for this kind of logic, but it's beyond our comprehension in our honest, hard working minds! Because of their unethical business practices we will not be paying our AMEX on time this month. It kills me because we worked so hard for good credit and they changed the rules and brought this on themselves. Honestly, it will only hurt us because it is my belief AMEX is trying to establish more deliquent accounts and they certainly don't care about all the people and businesses they destroy in their deranged process. I too am a woman, if that is one of their targeted accounts to harass and close. This has been embarassing for my husband being declined in public while trying to purchase job related materials. This has caused a financial hardship for our business and our family. I am open to any legal actions or anything that can be done to STOP this. It's a disgrace. Isn't there someway congress or President Obama can be made aware of this? Let's make AMEX feel the pressure like the stooges from AIG !