American Express just canceled my credit card

[Duddy]

The reasons are listed below:

- Too many accounts with balances

(All my credit accounts have a zero balance)

- Too many inquires last 12 months

(Haven't applied for anything but a car loan)

- Proportion of balances to credit limits on bank or other revolving accounts is too high

(Que?)

- Length of time accounts have been established

(When did this become a bad thing?)



The letter they sent also says that this could negatively effect my credit.


What kind of bullsh!t is this? I had 21,354 Sky Miles saved up! Now they are gone!

 

[Nik]

What did they tell you when you called them?

 

[imported_Imp]

Too many inquiries? That one's ripe for sue-age?

Good luck fighting for your Sky Miles.

 

[Saga]

Please read the following:

http://forums.anandtech.com/me...word1=American+Express

 

[Ultralight]

American Express is doing this to a lot of people. I am glad I never got a card from them. How about the wonderful piece of news whereby now banks are lowering people's credit line below their current account balances and doing so without prior notice. Talk about screwing people's credit rating.

 

[Duddy]

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP. I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

 

[tontod]

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP. I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

Ask to speak to a supervisor, the person who 1st answers probably cant do much.

 

[imported_Lothar]

Stop shopping at Wal-Mart?

 

[Fayd]

Originally posted by: Duddy
What kind of bullsh!t is this? I had 21,354 Sky Miles saved up! Now they are gone!

that's why they cancelled it.

 

[Nik]

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP.

The reasons are listed below:

- Too many accounts with balances

(All my credit accounts have a zero balance)

- Too many inquires last 12 months

(Haven't applied for anything but a car loan)

- Proportion of balances to credit limits on bank or other revolving accounts is too high

(Que?)

- Length of time accounts have been established

(When did this become a bad thing?)



The letter they sent also says that this could negatively effect my credit.


What kind of bullsh!t is this? I had 21,354 Sky Miles saved up! Now they are gone!

I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

I don't see that in the OP. That's why I asked. :roll:

 

[Red Squirrel]

Wow that sucks. I would definably try to get to a manager. If you do have multiple cards maybe try to consolidate them while you're at it. They probably don't like the idea that you had the ability to put tons of stuff on credit, so they cut you off before you do. Not that it's right or anything.

 

[RichieZ]

uh i'm pretty sure the skymiles transfer to delta(?) on a monthly basis, thats how it works on my hilton and spg card

the only balance that stays with the card is membership rewards

 

[JujuFish]

Originally posted by: Nik
I don't see that in the OP. That's why I asked. :roll:

You asked, he answered. :roll:

 

[ponyo]

Originally posted by: Lothar
Stop shopping at Wal-Mart?

I used my Amex card at Walmart today on purpose. I'm waiting to see if Amex does something. My credit is frozen with all 3 bureaus and mortgage paid off. Let's see if they think I'm high risk.

 

[WHAMPOM]

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP. I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

Well that's why, no late payments, no unpaid balance making interest, no excuse to raise interest. Damn you! You're just not making them any easy money.

 

[Duddy]

Originally posted by: Nik

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP.

The reasons are listed below:

- Too many accounts with balances

(All my credit accounts have a zero balance)

- Too many inquires last 12 months

(Haven't applied for anything but a car loan)

- Proportion of balances to credit limits on bank or other revolving accounts is too high

(Que?)

- Length of time accounts have been established

(When did this become a bad thing?)



The letter they sent also says that this could negatively effect my credit.


What kind of bullsh!t is this? I had 21,354 Sky Miles saved up! Now they are gone!

I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

I don't see that in the OP. That's why I asked. :roll:

What? You asked me what they said, and I told you, they told me the same things that are listed in the OP. I'm confused.

 

[daniel1113]

Originally posted by: WHAMPOM

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP. I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

Well that's why, no late payments, no unpaid balance making interest, no excuse to raise interest. Damn you! You're just not making them any easy money.

Nevermind the fees AMEX charges businesses for every transaction. That's gotta add up.

 

[Mermaidman]

All the stories make me nervous. I pay off my balance completely each month and rack up hundreds in cash back annually. I'd be upset if they pull this stunt on me and deny the cash back.

 

[mugs]

Originally posted by: Duddy
- Length of time accounts have been established

(When did this become a bad thing?)

It's bad when it's short; you're what, 22-24? Your credit history is short.

 

[Engineer]

After reading threads about Amex, I think it's time for everyone to tell Amex to fuck off.

Now question time: I received a Bank of America - American Express card to replace my BOA Mastercard a few months ago. What is the difference between the AE card and the BOA - AE card? I might call BOA and tell them that I don't want the fucking AE card.

And...no I don't currently give a shit about my credit report. I have more credit than I know what to do with and I have little balance. Also, having everything paid for (except zero percent cards), I'm not looking to borrow anything in the near future (unless I'm starving a year from now from losing my job )

 

[mugs]

Originally posted by: Engineer
After reading threads about Amex, I think it's time for everyone to tell Amex to fuck off.

But they give me free money.

 

[Duddy]

Originally posted by: mugs

Originally posted by: Duddy
- Length of time accounts have been established

(When did this become a bad thing?)

It's bad when it's short; you're what, 22-24? Your credit history is short.

That's it then, My accounts areall > 2 years old.

 

[Brainonska511]

Originally posted by: WHAMPOM

Originally posted by: Duddy

Originally posted by: Nik
What did they tell you when you called them?

The same thing I said in the OP. I asked them if I could get the account re-activated, she put me on hold for 2 minutes, came back and so they could not based on my credit.

There has never been ANYTHING negative on my credit report and my FICO score is 740.

Never missed a payment and only have 5 credit accounts open.

Well that's why, no late payments, no unpaid balance making interest, no excuse to raise interest. Damn you! You're just not making them any easy money.

Um... transaction fees rake in tons of money for CC companies...

 

[halik]

Originally posted by: Duddy

Originally posted by: mugs

Originally posted by: Duddy
- Length of time accounts have been established

(When did this become a bad thing?)

It's bad when it's short; you're what, 22-24? Your credit history is short.

That's it then, My accounts areall > 2 years old.

How long have you have an amex card? It says on the card.

 

[Skeeedunt]

Originally posted by: Mermaidman
All the stories make me nervous. I pay off my balance completely each month and rack up hundreds in cash back annually. I'd be upset if they pull this stunt on me and deny the cash back.

Same here. I keep watching my accounts to see if they're going to dick with me. So far Citi has jacked my interest from 12.5% I think to 18.99%, but that's been it.

Hard to believe they can just screw you out of your points/miles/whatever out of nowhere though. I know if you miss a payment or something you're screwed, but this hardly seem legal... (yeah I know, I doubt they care either).