American Express Blue Cards Consumer Reviews - Page 4

AMEX BLUE: I had had a AMEX Blue account for about 4 years. Got it with a "3.99% balance transfer" offer, which I used to pay off a high interest Home Depot card. Repaid like clockwork every month, 3 times the minimum required. Guess what? On Dec 1st 2009, they raised the interest rate to 15.24%, never mind the 3.99% "lifetime" agreement. Needless to say, the account is now paid off and closed.

BTW: my credit score is 792 and I make a good living so I could afford getting off that bind. I hate to think what would have happened had I been in financial difficulty. CONCLUSION: AMEX is greedy and does not honor its own agreements (perhaps fraudulently).

AMEX TRAVELER CHECKS: Trust me, do leave home WITHOUT them! They are all but useless. Last year, I went to Europe and bought some so as not to carry too much cash. Well, let me tell you: most of the banks do no exchange them (in downtown Paris, no less) and when they do, the exchange rate is lousy and the fees sky-high.

On another hand, if you used your regular ATM card (yep, the one you use at your local bank), it will work EVERYWHERE, with low fees and the regular exchange rate. CONCLUSION: False advertising, AMEX TC are useless. The only thing that is EXPRESS about them is how quickly they make a buck!

I normally don't write reviews, but this one has dragged on for too long and finally ended my account with AMEX as of today. I recently moved to another state and went in to change my account information and contact info online as I normally do.

Security Department put my account on hold and when I called to verify my identity which I did very thoroughly from all asked information, all of the old phone numbers on the account, old addresses, basically everything but my actual DNA, not sure that would have helped either! They told me the only method to opening my account back up would be to fax to them a copy of the following: Passport or other govt ID, SS#, W-2 form, utility bill, paycheck stub, etc... Talk about identity concern, there is no way in hell I would fax all that information which would recreate my identity if someone got their hands on it.

So I went online, paid my outstanding bill in its entirety and called them to explain to them that that should be enough to verify my identity and that the card has not been compromised, they told me it was not and if I did not send them the info, they would close my account. Told them to go ahead and do it, and that they lost a good paying customer for life. What a crummy way to do business... Why do they have security questions, if they do not honor the answers to verify identity???

NEW YORK, NY, NEW YORK -- Interest rate hike on my blue from 6.99% fixed to 11.99% variable plus prime which amounts to 17.24% last I checked. On future purchases and... my remaining balance. Amex refused to let me 'opt out'. Everyone crush this company. They are the worst of the worse. Email Ken Chenault, CEO. His email is posted on the web. Read Larry Sharnak's testimony before the House Ways and Means. Get the word out. Stop using American Express. Don't stop chattering about this company. All cardholders need to come together on this. It is just plain wrong to treat loyal customers like this. More chatter and things will change!

CHICAGO, ILLINOIS -- I also received a letter from American Express informing me that my APR is going up to 11.99% plus prime. I have never been late and usually paid early and more than the minimum amount. I agree we should boycott American Express. I have emailed Cohen, Placitella & Roth. They are suing American Express over their Costco rewards card program.

They too told me that the hike is due to the new law. That went as far to say that the new law states that credit card companies can no longer offer fixed rate. I am totally finish with American Express. I will NEVER do business with them again. I hope they lose all of their good customers and be left with non-paying customers.

I had an AMEX Blue credit card which I cancelled over two year ago. At the time there was an outstanding balance and since that time I have been diligently paying it down, never being late, etc... Yesterday I get a letter from AMEX saying that effective 10.1.09 my interest rate on my outstanding balance (approx. 8K) is being raised by 50%! I called the customer service representative who informed me that even though my account is closed and there was no way for me to add any more charges, they were still going to punish me by jacking up the rate on what I've already owed them. This is outrageous and AMEX should be ashamed of themselves for this sleaze ball tactic!

I was shocked to receive an email that our company American Express card limit had been cut to $1000 above the balance. I tried customer service; they said the explanation was in the mail - but it actually was sent out after my call. The stated reasons were: my "total debt with American Express and other creditors" (almost all mortgage debt), credit score and records that had not changed since 2005.

I've been told there is nobody who has both responsibility and decision making authority and referenced to write to Doria M. Camaraza, Senior VP Operations, 777 American Express Way, Fort Lauderdale, FL 33337.

PHOENIX -- I had 2 AMEX Blue accounts for 2 different businesses with credit lines of 55,000 and 13,000. I always paid the balance in full for the 55,000 card. The card with 13,000 had a balance of $5,000 from a balance transfer offer with a very low interest rate and I paid the minimum, never late. Without warning, AMEX dropped the 50,000 limit to 11,000 (that month's purchases). When I paid the 11,000, the limit was dropped to 1,000 (for a card with monthly purchases of 6,000 to 28,000 and used by 8 employees in purchasing). The other card was dropped to the balance. This hurt my company and disrupted my operations.

When the going got tough, my "business partner", AMEX ran and left. My charges on those cards over the last 8 years were $985,000 (all paid in full each month). As a responsible business owner, I need credit issuers that stand by me in hard times and base their decisions on my payment history, not some knee jerk corporate risk assessment. Since this happened, I have stopped taking AMEX in my operations. I only take VISA, MC and Discover. I urge you to do the same. It is us small business owners who accept AMEX cards and pay the higher AMEX premium. I will remember this disloyalty forever.

ROCHESTER, NEW HAMPSHIRE -- I have had 2 American Express cards (a Blue and a Clear) for 3+ years. On 3/23, I paid off both balances in full. Yesterday I received a letter from American Express dated 4/6/09 stating that they have cancelled BOTH accounts. There was no contact information listed on the letter so I went online to find the customer service #. When I called, I spoke with a woman and asked why they cancelled my accounts and she said (via a script) "This is a business decision and we feel comfortable in regards to this account."

I asked again, why would they cancel an account that has been paid in full on both cards, with no notice, and she said (verbatim) "This is a business decision and we feel comfortable in regards to this account." I said "Well this is a terrible way to treat a loyal customer in a time such as these economic times, especially after all the Federal Bailouts paid with my taxpayer dollars." She said "This is a business decision and we feel comfortable in regards to this account." I will NEVER do business again with American Express - the way they treat their customers is HARDLY American.

ONTARIO, OHIO -- I hear that all of the credit cards are doing this now. I had an AMEX card for 7 years, was never late, never went over limit or anything and had my credit limit lowered w/o any notice! They gave me an excuse about something negative on my credit report. I checked out my reports (all 3)... and there was NOTHING negative!

I can understand lowering some people's limits with the way the credit markets are today, but they could at least notify the customer about it, and give the real explanation! Needless to say, I tried talking to a supervisor and when that didn't work, I closed my account. I am thinking that ALL credit cards are sneaky anymore and am trying to do w/o any! BE careful and watch your statements!

I am ready to join a class action lawsuit. Our account is in good standing, we have always made more than the minimum payment and when we paid a huge amount of the balance, our credit limit was decreased with no explanation. When we made another huge chunk, our account was cancelled with no notice. We are trying to buy a house soon and have been meticulously protecting our credit. American Express has screwed us over for being very good customers. They are also threatening to report the cancellation to a credit bureau thereby officially messing up our credit because we were good customers. We are ready to join a class action. Thank you.