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American Express

Platinum Card

Keith of Newton, MA January 30, 2009

Keith of Newton MA (01/30/09)
I have had a American Express Platinum Card since 2000. My experience is similar to others. My account was recently closed with no, absolutely no evidence of delinquency or problems in the past. My Experian Vantage Score is 972, which is higher than 99% of US consumers. Since American Express will not answer my questions as to why they have cancelled my card, I can only assume they are either terribly disorganized and do not know what they are doing or that indeed they only want card holders who do not pay up on time and then collect interest payments from them. Honest individuals with excellent credit like myself are being taken advantage by what from the outside seems like a corrupt system. I have sent American Express 2 different faxes with information about my Experian Credit report and Vantage Score all to no avail. What indeed is going on here?

The direct consequences is that I have no way of using a credit card at Costco. (they only accept American Express.) If this affects my credit rating I will be outraged.

Kalliopi of Bronxville, NY January 30, 2009

Kalliopi of Bronxville NY (01/30/09)
I have an Optima account which I closed a number of years ago. I have always paid on time or early and always more than the minimum due. Due to my excellent payment record, my apr is 13.99%. They have now changed how they calculate my minimum due since my balance is high on this card. Besides the 2% of the balance that they use to calculate the minimum, they have now added another 1% of the balance they claim to help me pay it down faster. The past minimum was around 163.00 of which I either pay 180.00 or 200.00. They have now raised my minimum to 233.00. So, in essence they have made it that much harder to pay down my account if I can barely make the minimum.

It is outrageous that they take a good customer with great payment history and abuse them in this way. I fairly squeak by with my bills as it is as I am 73 years old and have to work because I can't afford to live on Social Security. Now they want me to pay them more. How will I do that? Pay them in place of paying for my various essential medications?

Dave of Sunset Beach, CA January 25, 2009

Dave of Sunset Beach CA (01/25/09)
Had an aunt die so i flew to L.A. for memorial services, prior to arrainging services checked balance of platinum card so i paid a few thousand 3 weeks early to due a now limit. Never had a limit before, spend 5000 to 6000 a month on this card always pay early never once even a day late. So knowing of a very recent lowering limit. Made 3 payments in Jan 09. Everytime i lowered balance the lowered the limit. Since the limit was reduced the card was rejected 20 minutes after lowering balance. For less than the payment was made.

What a bunch of paranoid people. we all are not broke and the ones paying on time get punished beacause everyone is maxed out. Hey it was just Xmas.

Well i paid it off in full this morning. It was not worth arguing with the smug rude jerks at Amex no longer the card for the wealthy. Hey i have a 30 ft yacht, a million dollar beach house, run a large company. I own 3 homes and have plenty of liquid. I WOULD LIKE TO HOLD THE PERSON AT AMEX LIABLE. NAMELY THE ANALYST THAT WAS [rude]. I smell a class action or refund of any yearly fee charged to all of us treated this way.

Eddie of Yonkers, NY January 22, 2009

Eddie of Yonkers NY (01/22/09)
On my monthly statement received 1/21/09, I became aware that the APR was increased to 17.9%. I never received any notice advicing me of this change and giving me the option to accept or decline. I contacted American Express expressing my concern and they declined to restore to the previous APR.

The APR was increased to 17.9% placing a financial burden on me.

Martin of Phila., PA January 19, 2009

Martin of Phila. PA (01/19/09)
I had 4 amex cards for over 15 years amex platinum with about a 50K limit, Blue sky card, corporate card and amex blue. Amex allowed Idearc media to put 30,000 on my platinum card and when I requested a signed authorization as I told them many times I am not dealing with the merchant, Idearc media, yellow pages anymore since they are liars and a rip off. I was sent to collections where 3rd party was all the name of the game. On Sunday I was awakened by 2 NASTY women that switched me over to a man not even of this country that closed my accounts for complaining, Yes I AM SUING THEM ALL.

Embarassing, liars, allowed company to steal from me , what they accepted as a signed contract was one from a previous year before they screwed me , now they are trying to ruin my credit which always ran high 7's low 800's.

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