I had the same issue back in 2015. I was a loyal Amex Platinum business card Holder as well as the gold aeroplan card holder. I Used the business card regularly and on average up to $90,000.00 and paid it fully each month since 2012 until one day in 2015 all my cards were cancelled. 2 for myself along with 4 employees cards. When I called them they asked for acounts review and to fax them company info along with a few months bank statements. They promised that after receiving them they will activate the account within 3 days. My accounted sent them what they needed then they called me requesting full payment on all my cards. No reason no explanation. I tried everything, all they said was that it's procedures but after payment everything should be fine. I paid my personal in full and I paid $42,000.00 due for the coming deadline in a few days on the business platinum but left another $45,000.00 due in 35 days then called them again, thinking they will soften up when they see I'm acting in good faith but no, they wouldn't budge. They want everything paid off before giving me any explanation. 2 days later I receive angry calls from 2 of my suppliers telling me that their Merchant Amex accounts were suspended because of me. Amex suspended them and when they called Amex they questioned them specifically about my transactions with them. I was angry and amazed because I didn't understand why and Amex wouldn't give us answers. I've been dealing with these 2 suppliers for over 6 years and when I received my Amex cards I switched payments from business cheques to Amex in order to accumulate points, I've been doing so since the beginning without issues. This situation caused doubt into both my business partners who pulled out their stocks from my inventory and asked me to pay in full in advance in the future which was impossible for me. My revenue went down 60% in the 3 to 4 following months and a lawyers letter representing Amex on my desk asking me to pay the full amount including crazy fees. I lost my never unused points worth over $12,000.00 along the way, that's when I decided to counter sue Amex for loss of revenue. Forward 6 months and Amex settled with me. The $45,000.00 I owed them was cancelled plus I received an additional $60,000.00 in damages for loss of revenues out of the $150,000 I originally countersued for on top of my lawyer's fees of $11,000.00 . Why? Because they wanted to protect a clause in their contract with card holders, a clause that gives them the right to cancell a card for any reason they deem reasonable to them no matter how unreasonable it may be to the card holders. Had I continued my suit and not settled with them and won, it would've been a real problem for
them but I settled because of lack of time and patience. Let this be a lesson and an example to whoever happen to be or will be in my situation. Don't give up and bend. By the way, my credit score was never affected because I took care of my personal account, the business account is completely independent from the personal.