Today is Granny’s RANT - I just got a phone call from a robotic female recording (not even a human being – AND on a Sunday) regarding my Amex Blue credit card account.
Firstly, please understand that I’ve paid on it faithfully every month, used it only when necessary, and never defaulted (or any other bad thing) for NINE long years and yet they (the “Review Committee” at American Express) decided to lower my “ceiling” to just under $100 above what is currently owed on the account.
Maybe it’s the current state of the economy or maybe they are so scared they’re doing this to ALL of their customers to prevent further charges or balance transfers – I dunno what’s going on, but it STINKS!
What kind of treatment is that for a GOOD customer who’s been with them nearly a decade? (Makes you wonder what they do to the ones who default or just quit paying entirely doesn’t it?)
What do you suppose it does to your credit rating when the balance owed is suddenly almost the same as the credit limit (which used to be over $11K) – it makes you look like you’re over-spending and lowers your score!
Here’s what I just wrote to them online inside my account:
To the “Review Committee”:
I have been a faithful customer for NINE years – always paying on time, never defaulting and you treat me as though I just signed up last week!
I just got your automated robot call that you AGAIN lowered my limit on my card to just above what I owe you. By this action you very likely will have an adverse affect on my credit score.
I don’t intend to make ANY further charges on this card now or in the future so if you want it cut up and mailed to you, so be it. I just wanted you to know that your actions are NOT appreciated one iota.
If this is how you treat “valued” customers then I’d hate to see what you do to anyone who doesn’t pay on time (like I always have).
Perhaps it’s time to close the account – listing it as “closed by CUSTOMER” in the credit bureau.
A VERY Unhappy Amex long-time customer,
Donna Maher
Do you think I was too harsh with them? I’d love to have some other opinions on this, but at least… thanks for letting me “rant” about it!
Unhappy Granny Today
PS: I just found a wonderful website with some amazing financial excel spreadsheets you can get for nada and a good article on credit cards (wish I’d read it 7 years ago!) http://www.uncommonwaytowealth.com/credit-debt-management/
April 24th, 2009 at 2:48 pm
Update on the Amex situation: I signe up for a new bank account last week, who was more than happy to open me a new credit card account with a year at 3% LOWER than Amex. So… as you might surmise, I transferred the remaining balance over to the new card… thereby saving myself a lot of money in interest fees AND not giving Amex another thin dime! :-))