Amex cancelled all my accounts without option for restoration
Jun 6, 2012, 6:15 pm
#16
Suspended
Join Date: Aug 2010
Location: DCA
Programs: UA US CO AA DL FL
Posts: 50,262
At a minimum, Amex may well reissue the card but cut the credit limit and suggest that OP use a business line of credit to pay down the credit limit on the card.
Jun 7, 2012, 5:43 pm
#17
Join Date: Oct 2007
Location: Frozen in Carbonite
Programs: UA Aluminum 0.6MM, Bonvoy Life Sentence, Hyatt Eliteist, AA Super Plutonium
Posts: 2,878
Thank you for your comment. I believe high balance of my Plum card also came into play when deciding to close my accounts.
I do not have any negative record on my CR and my score is around 740-750 FICO. Not super but not too bad. I'll keep updates. Hopefully I hope they give me a second chance!
I do not have any negative record on my CR and my score is around 740-750 FICO. Not super but not too bad. I'll keep updates. Hopefully I hope they give me a second chance!
...you're fine on that front. How does you DNB rating look for your business (if it has one)?
Jun 7, 2012, 8:12 pm
#18
Join Date: Nov 2007
Programs: Marriott Bonvoy Platinum, Hilton Honors Diamond, Delta Gold
Posts: 4,343
Hopefully someone at Amex will read this thread because I have had the frustration of clicking on the wrong account also and being told no way to cancel even after immediately making several calls. This was before they modified the system and you could only make one payment a day. I think I did a wire or something odd like that. People make mistakes and I think Amex should be a little forgiving.
It seems pretty odd to me being that this is the first time this happened with the OP that Amex jumped the gun and just shut everything down. I usually find them to be helpful with almost all issues I've had in the past and I agree with the suggestions to call the Executive number.
Good Luck!
Jun 19, 2012, 11:28 pm
#22
Join Date: Nov 2004
Location: Grand County, Colorado
Programs: IHG Plat, HH D, UA GS, Perm BonVoyed
Posts: 2,013
OP, sorry to read about this. Any update?
So he lived large on credit?
I know a major bank that shut down a credit line of a friend who ran a very legitimate business that was highly leveraged. He went from private jets, a fleet of luxury vehicles to having no car and no home. It was like dominos watching everything fall down. I think it all could have been avoided if the bank game him time to find a new credit line. I am sure he likely broke a loan covenant but it was really sad.