American Express Complaint - American Express Screws Loyal Customers
My wife and I are joining the ranks of all those boycotting American Express. Although we have been excellent customers since 1974, have never had a late payment, been over-limit, or any such thing our credit limit on our several cards was slashed without notice, and yesterday we received notification that interest rates for our blue cards was going to almost 18%. We have closed our Amex accounts, including the Gold Card, effective immediately.
Kenneth Chenault is leading this formerly healthy financial institution into bankruptcy and I say -- GOOD RIDDANCE AMERICAN EXPRESS and hopefully we will see Chenault disappear from the CEO limelight soon.
However, no matter what happens AMEX will never see me as a customer again. You can't rebuild trust.
AMEX is not too big to fail and I hope we see that soon.
P.S. If anyone is a member of a class action lawsuit addressing AMEX' new slash and burn credit policies I am interested in joining the lawsuit.