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American Express

Saga

Saga

Banned
Went to pay for gas today on my Amex Blue Cash and was declined. Imagine an O.O emoticon on my face as I stared at the cashier, paid with another card, and promptly ran home to review my account online anticipating for the first time ever I had been the victim of credit card fraud.

Upon seeing a whopping $74.13 balance on my account, I called to ask what the dealio' was. The rep over the phone basically told me that effective today my account was canceled and that I should have received an e-mail (which I did not get, and after asking for it to be re-sent still do not have, and I get ALL other Amex e-mails) and that a letter would be coming in the mail.

My Amex is my primary card. I use it for everything from bills to groceries, and I pay it off in full every month, never carrying a balance from one statement to the next. I just pulled my credit report and was rated 718-732 between the 3 various credit reporting bureaus, and I have a total of six other credit cards with limits ranging from $3,000 to 35,000, only one card has a current balance of approximately $5,000 that does not show on the credit report due to the fact that I used it in the place of not having my checkbook and the payment for it has already hit from my bank account.

Credit score: 720 (ish)
Loans: 30k (truck + bike combined)
Available credit: 82,000 on all cards (0% revolving)

Amex, WTF! :shocked:
 
Strange,
I've never had any issue on either one of my amex cards, but that's probably because I go through about $30-40K on them every year.
 
I spent about 30 minutes waiting for this magical e-mail. She "re-sent" it a total of four times, and during the course of this conversation I was, admittedly, getting pretty pissed off. She finally just up and told me that it was "a decision based on the combined credit score from the three major credit bureaus, revolving credit, and the number of recent inquiries onto your account". Imagine the look of absolute amazement on my face when I pulled my credit report after getting off the phone.

Apparently, a 720+ credit score with TWO inquiries in the past 12 months (one hard hit, one soft hit), and a revolving balance of a whopping $0 on credit cards. The loans were as listed above. I'm confused as shit right now.
 
It's too bad I have a fucking conscious or I'd call in and report the card stolen after paying $1500 on various electronics.

Damn you, morality!
 
Amex gave out credit lines like candy starting around 2005. They're now trying to undo their poor mistake through panic. Amex would've been insolvent if not for the govt bailout.

You're just victim of their panic. I would move on.
 
Originally posted by: Saga
It's too bad I have a fucking conscious or I'd call in and report the card stolen after paying $1500 on various electronics.

Damn you, morality!
Click to expand...

That would be a neat trick....with it cancelled and all.
 
If Amex cancels my Blue account before I receive my cash-back in April, I will be pissed. I try not to think about it, but I put a lot of purchases on my card this year, and am expecting a pretty large amount back. I'm guessing that if your account gets canceled, you don't see any of that cash.
 
Originally posted by: daniel1113
If Amex cancels my Blue account before I receive my cash-back in April, I will be pissed. I try not to think about it, but I put a lot of purchases on my card this year, and am expecting a pretty large amount back. I'm guessing that if your account gets canceled, you don't see any of that cash.
Click to expand...

Exactly. I have $318 in rewards sitting on my account that I now can't claim. Fuck that.
 
They did it to me a few months ago. I called to switch from a Student Blue to a Blue Cash and all was going well until a week after speaking to a rep about switching (and them saying it would go through), I tried to use my card at the gas station and was turned down. I found it interesting they would cancel my card when I actually got a source of income as opposed to an employed only in the summer student...
 
Originally posted by: videogames101
Complain to another rep until they reactivate it.
Click to expand...

Because I still hadn't winded down and was pretty pissed, I took the above advice. I have a balance of like $72 sitting on the account. The foreign-accent customer service rep simply kept repeating, "Pay the balance and call back in 48 hours for a re-activation review".

Fuck American Express. Now I need to hunt for a new fucking rewards card.
 
Originally posted by: dbk
What would this do to your credit? I'm assuming relatively nothing...
Click to expand...

No idea, but I'm about to find out. I've had the card for.. maybe 1.5 years? I've used it for everything, so all of my fucking bills are automatically paid from the account. Now I have to scramble to call up businesses with auto credit withdraws and switch them to my Chace card that gives FAR less rewards than Amex.

I have a feeling the $300 sitting in my rewards bin (I think you only get $200 back a year?) is all wasted, now.
 
Originally posted by: GregGreen
They did it to me a few months ago. I called to switch from a Student Blue to a Blue Cash and all was going well until a week after speaking to a rep about switching (and them saying it would go through), I tried to use my card at the gas station and was turned down. I found it interesting they would cancel my card when I actually got a source of income as opposed to an employed only in the summer student...
Click to expand...

You're actually lower risk and more profitable to the credit card companies as a student than if you're employed regular Joe. Banks know students rarely pay their credit cards in full. They charge higher interest rates on student cards. They also know if you get in trouble and can't pay, you likely have mommy and daddy to bail you out and pay the bill. So it's a win-win for the banks to offer you student card. They win with higher interest fees and lower default rate.
 
Originally posted by: Saga
Originally posted by: videogames101
Complain to another rep until they reactivate it.
Click to expand...

Because I still hadn't winded down and was pretty pissed, I took the above advice. I have a balance of like $72 sitting on the account. The foreign-accent customer service rep simply kept repeating, "Pay the balance and call back in 48 hours for a re-activation review".

Fuck American Express. Now I need to hunt for a new fucking rewards card.
Click to expand...

Schwab 2% card = ownage.
 
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