American Express Complaint - Credit Limit Reduction For No Good Reason
I have an American Express Blue cash credit card which initially was great. It had a 5K credit limit and I have never been late with a payment. In fact, I have never carried a balance for more that 2-3 months. Recently, I received a letter in the mail from customer service that my credit line has been reduced from 5K to 1.2K. The reason(s) stated were that there was a collection and/or a public record filed to my Experian credit report. I immediately pulled my full report and it shows a credit score of 736, no collections, a total credit line of 24K on all of my bank cards (I am only carrying a balance of 3800), no late payments on anything... But I did have a lot of inquiries -14 in 2 years (I bought a house and shopped for a 2nd mortgage). But then I saw a public record.. a PAID tax lien from 1996 that for some reason was put onto the Experian report. Remember, this was paid years ago!!! American Express did nothing when I called them.
I cannot believe that they treat their customers this way. I faxed my credit report to their customer service. We will see if they reinstate the original credit line.
Otherwise I will close the account and NEVER, NEVER, NEVER deal with that company again!