American Express Membership Rewards - No more card consolidation?

I called AMEX to consolidate two different cards together (a Blue card and a Clear Card). I was informed by AMEX that card consolidation is no longer an option. It is no longer possible to transfer credit lines between cards. Is this true?

I called AMEX to consolidate two different cards together (a Blue card and a Clear Card). I was informed by AMEX that card consolidation is no longer an option. It is no longer possible to transfer credit lines between cards. Is this true?

It has been like that since the middle of October. has been reported in this forum, however I cannot find that thread.

Do you have any idea what the rationale is for this change? If I have multiple cards and merely want to move my credit between cards, why is this a problem?

I suspect a lot of the credit issues that people have had with AMEX can be traced to the funding issue that AMEX may be having. See the news release taken in part below.



NEW YORK - American Express Co. said Tuesday it received preliminary approval to obtain $3.39 billion in capital as part of the government's $700 billion bank investment program.
Primarily a credit card lender, American Express changed its structure to become a bank holding company last month. The change in status allows American Express to tap a wide array of government funding and lending programs, including the bank investment program.
Financial services firms, such as American Express, had faced dwindling funding options as the credit crisis mushroomed in recent months. The securitization market, which American Express used to raise operating capital, has all but evaporated as investors avoid purchasing all but the safest forms of debt. The market had allowed lenders to bundle packages of loans to be sold to investors.

+1 and also there was a mainstream brokerage company(don't remember which one) that recently rated AMEX a 'SELL', which normally is the kiss of death on Wall Street.

Ol' AMEX just ain't doin' that well these days. From what I've read here and on the creditboards, they probably have it coming, as the mgmt's crap and the customer-less service is certainly something...