Bad Business Practice
TEXAS -- We have used the Gold card now for 8 years for our business, spending, I just checked for 2007 over $105k and have never been late and it is paid off every month.
The Platinum Business Card, we had a limit of $18k, and paid it also down every month.. when it got to be at $7400, they send an e mail of a limit reduction to $7500, the credit score was then affected. I called them, but they said there was nothing they could do about it.
Yesterday, Jan 15th 09, I received another e mail to reduce the limit again to $4500, the balance being t $4300. These limit reductions come without any notification or calling us at all.
I called, and the supervisor said that there was a history of Mortgage payment problems, I told her that this was a down right lie, as we have 11 mortgages and all are paid correctly, but she started to say that I did not have my credit report, which I then replied that I did, as I pulled it just the day before and it did not show any problems, in fact the Fico score had gone up again( Amex) had made it drop. it was now more than it was before, she said that I did not have all three reports, I replied, no I have two, she said that the problems they referred to were in the other one. She also got very rude and said that they were not going to change anything at all so I may as well hang up, which I then did. her name was ***** and her reference number was NARB146. I am now in the process of switching all auto payments to our business bank, also all payments that were previously paid by Amex, now will be paid by our Bank card. And we will not be using the Gold card anymore. As we are only a small business, Assets of around the $3mil. I suppose they do not want our custom. We will use either Visa or Mastercard.
Does anyone know why this company has suddenly started to treat its customers in this way please?