Originally Posted by
keisari
From the information you have given us it is obvious that you are not at fault. Amex should have done its "due diligence" and contact you before closing the account and loosing all those points. I hope you keep insisting and that somebody finally pays attention to what you have to say. Otherwise maybe a strong letter from an attorney or filing a small claims court will help settle the issue.
For the rest of us, lesson learned. You sell a business that will keep your name; detach yourself completely from it.
Best of luck to you.
Amex apparently did do its due diligence. It tracks bankruptcies and saw that one of its cardholders had filed for bankruptcy. It did what any sane card issue or other creditor would do and froze the account, e.g. cut its losses.
OP says that the transaction included a transfer of the Assumed Name to the buyer. That raises the question of whether he even had the right to maintain a CC in the name of a business he did not own or control.
I would stop dealing with Amex until I had consulted my attorney.