American Express Complaint - Credit Line Decrease - Amercian Express Platinum Credit Card
Last week I received a letter from American Express saying that my credit line had been decreased from $7,000 to $6,300. I have never even heard of such a thing and I am still in shock. I've had the card for over 2 years and have never paid my bill late. About 75% of the time I pay MORE than the minimum payment; and when I can I pay off the entire balance. The first "reason" American Express gave for the credit line decrease was that I recently had a "high utilization" of my other credit cards (which I have been using recently to pay for my own health insurance and other bills after the place I worked for the last 5 years closed down in February). I'm writing this so that others know that if they run up high balances on other credit cards even for a short period of time (and even when you're paying all bills on time!) they may find their line of credit decreased by American Express.
The second reason given for the credit line decrease was that my credit card balances "have exceeded [my] demonstrated ability to pay." None of the FOUR American Express staff members I spoke with on the phone thought that THE FACT THAT I HAD PAID MY BILL ON TIME EVERY SINGLE TIME (and most of the time pay MORE than the minimum amount) DEMONSTRATED MY ABILITY TO PAY. No I'm not kidding.
The people I spoke with at American Express were awful. They all repeated the same unhelpful garbage (you can ask for an increase in 6 months, etc.) and were very reluctant to transfer me to supervisors. They also lied to me ("there's only one supervisor on duty so you might be on hold for a while" then by the same person "well I don't know which supervisor you'll be talking to"), etc. etc. I was also disconnected twice.
I am looking forward to the day that I can pay off this card and close it permanently. I'm never going to use an "American" Express card again in my life. I can't believe how they treated me. It might have been different if someone had called and asked me some questions about high balances on other cards, my current financial situation, etc. if they were so concerned. But to do something in such a disrespectful way with no notice at all is terrible customer service. Please tell everyone you know how American Express treats good customers. Thanks.