Jump to content

Sign in to follow this  
sunmicroman

Another AMEX Casualty

Recommended Posts

He can't dump them, he runs an AMEX forum :rofl:

 

What does that have to do with the price of tea in China?

 

Just because someone owns or runs a forum on a subject don't neccessarily mean they are biased towards it. It could be for a community service or an objective place to discuss a subject. Negative or positive experiences.

 

It was a joke. Relax.

Share this post


Link to post
Share on other sites

He can't dump them, he runs an AMEX forum :rofl:

 

What does that have to do with the price of tea in China?

 

Just because someone owns or runs a forum on a subject don't neccessarily mean they are biased towards it. It could be for a community service or an objective place to discuss a subject. Negative or positive experiences.

 

It was a joke. Relax.

 

Huh?

 

Relax about what?

Share this post


Link to post
Share on other sites
That said, I remember some pretty staunch defense of AMEX in some other threads when people got CLDs or dumped.

 

Just sayin'.

 

Mistaken identity perhaps?

 

You are not thinking of OMW, possibly?

Edited by sunmicroman

Share this post


Link to post
Share on other sites

I would call and if I didn't get satisfactory results I would close the card and move on unless you want to open yourself up to the possibility of another CLD in the future or worse, closure of acct.

Edited by Curious

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I have the CS charged monthly to this Blue card. Can I have it changed over to my Gold Business card? That way CLD would never be an issue, and if they decided to close that card, then "oh well", I guess.

Bummer about this sunmicroman, however if I may;

 

Hardly, hardly worth their abuse and exploitation of consumers for a membership to a fricking credit monitoring service, (there are other alternative monitoring services available - which aren't TU affiliated, etc) They CLD'd me recently for several hundred dollars (trying to chase my balance down as I pay it off) I closed the account immediately and sent them a nasty gram telling them what I think of their shenanigans.

 

I have a BT in process with them, once that processes, American Express will be a thing of the past once and for all for me. I feel it is absolutely the right thing to do even if on nothing more than principle alone!

 

The more folks tolerate their BS for silly things like membership to a credit monitoring, delusions of prestige, false hopes of having credit limits restored, etc. The further this company will continue to press with their downward spiral of degradation.

 

Perhaps do yourself the biggest favor you ever could; buck up & wash your hands of them, move on and maybe find some good credit unions.

 

G/L with what ever you decide.

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I have the CS charged monthly to this Blue card. Can I have it changed over to my Gold Business card? That way CLD would never be an issue, and if they decided to close that card, then "oh well", I guess.

Bummer about this sunmicroman, however if I may;

 

Hardly, hardly worth their abuse and exploitation of consumers for a membership to a fricking credit monitoring service, (there are other alternative monitoring services available - which aren't TU affiliated, etc) They CLD'd me recently for several hundred dollars (trying to chase my balance down as I pay it off) I closed the account immediately and sent them a nasty gram telling them what I think of their shenanigans.

 

I have a BT in process with them, once that processes, American Express will be a thing of the past once and for all for me. I feel it is absolutely the right thing to do even if on nothing more than principle alone!

 

The more folks tolerate their BS for silly things like membership to a credit monitoring, delusions of prestige, false hopes of having credit limits restored, etc. The further this company will continue to press with their downward spiral of degradation.

 

Perhaps do yourself the biggest favor you ever could; buck up & wash your hands of them, move on and maybe find some good credit unions.

 

G/L with what ever you decide.

 

 

Thanks for the input and encouragement Sultan.

 

Which credit monitoring services other than TC, Chase IP, National City, and PM, let you do daily pulls? If they are at all affilaited in any shape or form with TU or TC, I will not be able to sign up. Well, maybe allowed to sign up and then be booted a few days later (I had this happen after TC gave me the boot last year).

 

Also, I tried a CU a little while back and got denied. Any suggestions on a good CU that I could qualify for with my scores (preferably not an EX pull)?

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I have the CS charged monthly to this Blue card. Can I have it changed over to my Gold Business card? That way CLD would never be an issue, and if they decided to close that card, then "oh well", I guess.

Bummer about this sunmicroman, however if I may;

 

Hardly, hardly worth their abuse and exploitation of consumers for a membership to a fricking credit monitoring service, (there are other alternative monitoring services available - which aren't TU affiliated, etc) They CLD'd me recently for several hundred dollars (trying to chase my balance down as I pay it off) I closed the account immediately and sent them a nasty gram telling them what I think of their shenanigans.

 

I have a BT in process with them, once that processes, American Express will be a thing of the past once and for all for me. I feel it is absolutely the right thing to do even if on nothing more than principle alone!

 

The more folks tolerate their BS for silly things like membership to a credit monitoring, delusions of prestige, false hopes of having credit limits restored, etc. The further this company will continue to press with their downward spiral of degradation.

 

Perhaps do yourself the biggest favor you ever could; buck up & wash your hands of them, move on and maybe find some good credit unions.

 

G/L with what ever you decide.

 

 

Thanks for the input and encouragement Sultan.

 

Which credit monitoring services other than TC, Chase IP, National City, and PM, let you do daily pulls? If they are at all affilaited in any shape or form with TU or TC, I will not be able to sign up. Well, maybe allowed to sign up and then be booted a few days later (I had this happen after TC gave me the boot last year).

 

Also, I tried a CU a little while back and got denied. Any suggestions on a good CU that I could qualify for with my scores (preferably not an EX pull)?

YW, sunmicroman.

 

Have you looked at JFCU, Penfed? DCU? (Starone CU if your in the bay area) all are EQ pullers, Heg posted a link to one of the specific credit monitoring service I was thinking, I'll see if I can find it.

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I have the CS charged monthly to this Blue card. Can I have it changed over to my Gold Business card? That way CLD would never be an issue, and if they decided to close that card, then "oh well", I guess.

Bummer about this sunmicroman, however if I may;

 

Hardly, hardly worth their abuse and exploitation of consumers for a membership to a fricking credit monitoring service, (there are other alternative monitoring services available - which aren't TU affiliated, etc) They CLD'd me recently for several hundred dollars (trying to chase my balance down as I pay it off) I closed the account immediately and sent them a nasty gram telling them what I think of their shenanigans.

 

I have a BT in process with them, once that processes, American Express will be a thing of the past once and for all for me. I feel it is absolutely the right thing to do even if on nothing more than principle alone!

 

The more folks tolerate their BS for silly things like membership to a credit monitoring, delusions of prestige, false hopes of having credit limits restored, etc. The further this company will continue to press with their downward spiral of degradation.

 

Perhaps do yourself the biggest favor you ever could; buck up & wash your hands of them, move on and maybe find some good credit unions.

 

G/L with what ever you decide.

 

 

Thanks for the input and encouragement Sultan.

 

Which credit monitoring services other than TC, Chase IP, National City, and PM, let you do daily pulls? If they are at all affilaited in any shape or form with TU or TC, I will not be able to sign up. Well, maybe allowed to sign up and then be booted a few days later (I had this happen after TC gave me the boot last year).

 

Also, I tried a CU a little while back and got denied. Any suggestions on a good CU that I could qualify for with my scores (preferably not an EX pull)?

YW, sunmicroman.

 

Have you looked at JFCU, Penfed? DCU? (Starone CU if your in the bay area) all are EQ pullers, Heg posted a link to one of the specific credit monitoring service I was thinking, I'll see if I can find it.

 

Thanks again, but I do not qualify for any of the CUs you mentioned.

 

Maybe a local one in my area will work.

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I have the CS charged monthly to this Blue card. Can I have it changed over to my Gold Business card? That way CLD would never be an issue, and if they decided to close that card, then "oh well", I guess.

Bummer about this sunmicroman, however if I may;

 

Hardly, hardly worth their abuse and exploitation of consumers for a membership to a fricking credit monitoring service, (there are other alternative monitoring services available - which aren't TU affiliated, etc) They CLD'd me recently for several hundred dollars (trying to chase my balance down as I pay it off) I closed the account immediately and sent them a nasty gram telling them what I think of their shenanigans.

 

I have a BT in process with them, once that processes, American Express will be a thing of the past once and for all for me. I feel it is absolutely the right thing to do even if on nothing more than principle alone!

 

The more folks tolerate their BS for silly things like membership to a credit monitoring, delusions of prestige, false hopes of having credit limits restored, etc. The further this company will continue to press with their downward spiral of degradation.

 

Perhaps do yourself the biggest favor you ever could; buck up & wash your hands of them, move on and maybe find some good credit unions.

 

G/L with what ever you decide.

 

 

Thanks for the input and encouragement Sultan.

 

Which credit monitoring services other than TC, Chase IP, National City, and PM, let you do daily pulls? If they are at all affilaited in any shape or form with TU or TC, I will not be able to sign up. Well, maybe allowed to sign up and then be booted a few days later (I had this happen after TC gave me the boot last year).

 

Also, I tried a CU a little while back and got denied. Any suggestions on a good CU that I could qualify for with my scores (preferably not an EX pull)?

YW, sunmicroman.

 

Have you looked at JFCU, Penfed? DCU? (Starone CU if your in the bay area) all are EQ pullers, Heg posted a link to one of the specific credit monitoring service I was thinking, I'll see if I can find it.

 

Thanks again, but I do not qualify for any of the CUs you mentioned.

 

Maybe a local one in my area will work.

You can qualify for all of those I mentioned, first you'll need to join one of their membership affiliates. Take a closer look at each one RE: membership eligibility. :blink:

Share this post


Link to post
Share on other sites
funny. anyone can join Patelco, DCU, or nASA.

 

I went to the web sites of Patelco, DCU, and another.

 

I saw they had pages that stated what the membership requirements were and I read it.

 

I am not affiliated with any of the organizations listed, so I assumed that meant I wasn't eligible.

 

How can I still qualify for membership?

Edited by sunmicroman

Share this post


Link to post
Share on other sites
funny. anyone can join Patelco, DCU, or nASA.

 

I went to the web sites of Patelco, DCU, and another.

 

I saw they had pages that stated what the membership requirements were and I read it.

 

I am not affiliated with any of the organizations listed, so I assumed that meant I wasn't eligible.

 

How can I still qualify for membership?

you can join affiliated organizations.

 

NASA: join the national space society

PAtelco: join the California association of older people (I forgot the exact name)

DCU? been so long I've forgotten.

Share this post


Link to post
Share on other sites

I know you want the higher unused limits for your utilization score... but why do you think Amex would see a problem with cutting your limit from 10k down to $800 if you never had a balance over $921.

 

Perhaps they could have dropped it to 1k, as that would have been more reasonable, but is it really unreasonable for them to take away credit limits that you never use? It represents an exposure risk to them, and I suspect it helps them out if they can reduce that number overall. What better way to do it then to lower the limits of people who do not use the credit limits they already have?

 

Once you show over a period of time you are never going to use more than 10% of your available credit through normal usage, the risk actually goes up on the remainder of your balance, as it would mean you would be using it in abnormal circumstances which is likely to represent a higher risk of repayment to the bank.

 

Like I said, I know why you want all that unused credit. You have to simply understand that the Credit Card companies goals and objectives don't always coincide and unused credit does not make them ANY money yet exposes them to a lot of extra risk.

Share this post


Link to post
Share on other sites
I know you want the higher unused limits for your utilization score... but why do you think Amex would see a problem with cutting your limit from 10k down to $800 if you never had a balance over $921.

 

Perhaps they could have dropped it to 1k, as that would have been more reasonable, but is it really unreasonable for them to take away credit limits that you never use? It represents an exposure risk to them, and I suspect it helps them out if they can reduce that number overall. What better way to do it then to lower the limits of people who do not use the credit limits they already have?

 

Once you show over a period of time you are never going to use more than 10% of your available credit through normal usage, the risk actually goes up on the remainder of your balance, as it would mean you would be using it in abnormal circumstances which is likely to represent a higher risk of repayment to the bank.

 

Like I said, I know why you want all that unused credit. You have to simply understand that the Credit Card companies goals and objectives don't always coincide and unused credit does not make them ANY money yet exposes them to a lot of extra risk.

 

How many people here with higher CLs than I use less than 10% or even 1% of their CLs?

 

Many.

 

I sincerely hope you are not suggesting people should start maxing out their cards or using high utilization just to make their creditors happy. In fact, if you think that works, many creditors will start taking note and then perform AA just for having high util on other and possibly their card(s).

Share this post


Link to post
Share on other sites
I would learn what caused the AA before making a rash decision.

 

What difference does it make?

 

You think they will reinstate the CL if I call?

 

My experience has proven otherwise in the past.

 

I will probably get a letter in the mail in a week or so anyway.

 

Or I can find out if I call to close the account. Haven't decided yet.

 

 

I am sorry this happened , but we all know how amex acts by now.

 

cut them or keep them , it's starting to get old .

Edited by willgator

Share this post


Link to post
Share on other sites
How many people here with higher CLs than I use less than 10% or even 1% of their CLs?

 

Many.

 

I sincerely hope you are not suggesting people should start maxing out their cards or using high utilization just to make their creditors happy. In fact, if you think that works, many creditors will start taking note and then perform AA just for having high util on other and possibly their card(s).

 

they cut the CL of quite a few people who used less than 1% of their lines. For a creditor to expect you to use 5 -10% a month is not all that unreasonable... they grant us credit expecting us to use it... and most people do. But we're not most people. We hoard it for utility and ego, not usage.

 

I don't know what a good utility is to keep from getting a CLD, but i think anything under 1% is risky.

Share this post


Link to post
Share on other sites
funny. anyone can join Patelco, DCU, or nASA.

 

I went to the web sites of Patelco, DCU, and another.

 

I saw they had pages that stated what the membership requirements were and I read it.

 

I am not affiliated with any of the organizations listed, so I assumed that meant I wasn't eligible.

 

How can I still qualify for membership?

 

To be eligible for penfed join the National Military Familiy Association - nmfa. org. You don't have to be a military family to join. I think you can join it from the penfed application.

Share this post


Link to post
Share on other sites
One of the few reasons I would want to keep AMEX is for CS. I have been "banned" from any TU affiliated service.

 

I was banned from PM. I snuck back in using a variation of my name combined with a different credit card at re-signup. So far, so good. :(

Share this post


Link to post
Share on other sites
How many people here with higher CLs than I use less than 10% or even 1% of their CLs?

 

Many.

 

I sincerely hope you are not suggesting people should start maxing out their cards or using high utilization just to make their creditors happy. In fact, if you think that works, many creditors will start taking note and then perform AA just for having high util on other and possibly their card(s).

 

they cut the CL of quite a few people who used less than 1% of their lines. For a creditor to expect you to use 5 -10% a month is not all that unreasonable... they grant us credit expecting us to use it... and most people do. But we're not most people. We hoard it for utility and ego, not usage.

 

I don't know what a good utility is to keep from getting a CLD, but i think anything under 1% is risky.

 

I was under 10% not 1%.

 

1% of $10k is $100.

Share this post


Link to post
Share on other sites

I know someone having issues with Amex, so I have been watching for these threads again.

 

While I understand why some banks are on edge, Amex seems to be the one who keeps cropping up with CLD's or closures. The "upper income" brackets they are catering too are starting to show signs of distress too, so maybe they are trying to weed everything out. Its sad that they are losing some damn good customers or detering good customers from applying. With banks its just business, and I have no problem with that. All I know is that if I cant rely on a so called prestigious bank to have my back, what is the point of them taking up space in my wallet? I dont care how prestigious Amex "thinks" they are, I wouldnt lemonade on their plastic if it was on fire. Good luck with what you decide.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines