Delta Fares

Is American Express going out of business?

Or are They just running scared? After being with AM EX for eons they declined 2 of my AM EX cards. One card has a $20,000 limit I have a balance of $972.00 which is not even due yet. It is a Costco Am ex and I was buying gas at Costco. Amount was $38.00. The other Card is a Delta AM EX.with a limit of $9000.00. I was at a pharmacy for a purchase of $155.00 and this one was declined also. The first time this Happened I called AM EX and the wait was 10 minutes so I did not hold. I thought nothing about has this type of thing, It has happened before because technical issues. The second time it happened. I did call and was transferred to account services. I also had to wait for seventeen minutes and forty five seconds. I was told I had 1 NEGATIVE on my Experian but not on the other 2 credit bureaus. so I then went on line to Experian. Now I have never been late with anyone including Am ex. I have over 70 open accounts and never late. When I look at the negative I find it's not even my account. It is from a payday loan Company that charges 199% per year. I have never been inside or even applied for any loan. I called Am ex back and waited for 27 more minutes and then they disconnected me. There was a call before this to find out where I should fax my dispute that I already made with Experian yesterday evening. I did not have to wait very long this time however The service rep was insistent that I should make a payment that really was not due to until the end of the month she said it would look better. I finally had to raise my voice to say no my accounting dept handles this. When I did call back after I sent my fax the Rep i then talked to next was very good. He even came back on the line after I was waiting for 8 min & 22 seconds to see if account services came on line. He also gave me a direct number. First time that happened. I then hung up and called directly. They then said call back on Monday. What if I was in another City and only took my Am ex. (Don't leave home without it).I would have been screwed. Or what about if I was in Europe or any other country. This is not right. be care full if you leave home with it. What could I do?.

Public Comments

1. AMEX is having trouble, but I doubt they will go out of business. They are still in the business of lending money but they are admittedly tightening their standards. I think your real beef is with the credit reporting agencies. Go to annualcreditreport.com and get free reports. You need to check all of the reports. You probably also need to confirm your credit limits with AMEX on each account. Get it in writing. Ask specifically if they have reduced your limit. You also need to find out when the last payment was due (or is due) and whether any amount is past due. When you get your free credit reports, look to see if AMEX has even been monitoring your credit file. If they have not, this would look even stranger. You should definitely stay after AMEX to determine why they are doing this if they aren't even monitoring your credit.