PERFECT CREDIT - AMEX Cancelled???

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Old Oct 5, 18, 3:59 pm
  #16  
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Originally Posted by kickedoffamex View Post
... We've had these personal cards for 25 years.....
Originally Posted by kickedoffamex View Post
.... My last several annual earnings are 100X what I spent monthly.
If you have not opened a new American Express card in a couple decades, it may well be that what American Express knows about your income is stale.

Last edited by mia; Oct 12, 18 at 9:38 pm
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Old Oct 5, 18, 5:25 pm
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Originally Posted by ksingh0311 View Post


Yes youíre right. But still, AMEX simply just doesnít goes ahead and cancel accounts of high spending millionaires.
And high spending millionaires rarely sign up to online chat boards to get answers when their credit cards get shut off "for no reason". They have people to handle things like that.
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Old Oct 5, 18, 5:26 pm
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Originally Posted by kickedoffamex View Post
I am COO of a $1 Billion company and leader at my church. I haven't even hast a speeding ticket n the past 10 years. My last several annual earnings are 100X what I spent monthly.
then amex needs u more than u need them..
why do u even care?

Last edited by mia; Oct 12, 18 at 9:39 pm
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Old Oct 5, 18, 5:29 pm
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Originally Posted by Out of my Element View Post
And high spending millionaires rarely sign up to online chat boards to get answers when their credit cards get shut off "for no reason". They have people to handle things like that.
Exactly. Thatís why my first advice was talk to his lawyer.
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Old Oct 5, 18, 5:59 pm
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Originally Posted by Out of my Element View Post
And high spending millionaires rarely sign up to online chat boards to get answers when their credit cards get shut off "for no reason". They have people to handle things like that.
I think you would be surprised who is actually on these boards although not everyone here publicizes who they are and what they do. The billionaire founder a little startup you might have heard of called WhatsApp is infarct a member of this board. If the ops username is who I think he is, then he is in fact the COO of $1 Billion plus utility. Anecdotally I had a similar situation with US Bank a few years back, where they decided to discontinue credit and banking relationships with not only myself but my entire family whom I also had banking with them. The situation escalated all the way up to our Regional VP relationship who still couldn't give us an explanation outside of our banking patterns didn't fit with their current customer profiles. We moved on and found another bank who was more than happy to accept our deposits.

Last edited by ECKOA6; Oct 5, 18 at 10:55 pm Reason: spelling
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Old Oct 5, 18, 7:56 pm
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Originally Posted by Out of my Element View Post
And high spending millionaires rarely sign up to online chat boards to get answers when their credit cards get shut off "for no reason". They have people to handle things like that.
Not true, and why wouldnít you ask on FT? Itís a great resource no matter how wealthy you are.

Itís possible, as mia said, that OPís income in the Amex system was stale. Getting lawyers involved is weird given their T&C give them the right to do pretty much whatever they want and force arbitration.

But yeah, Iíd check my credit report. Maybe a mistake or fraud.
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Old Oct 5, 18, 8:59 pm
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I find it very hard to believe that stale income information would lead to a summary closure of all accounts. If for whatever reason Amex thought that spending patterns weren't consistent with income, they do a Financial Review. If the cardholder has never been late to Amex, and has no blemishes on their credit report, something else is going on here.
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Old Oct 5, 18, 9:47 pm
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Is there a reason for Amex to think you reside somewhere else. I had one card cancelled when a credit card company noticed I don't actually live in Usa anymore. How about identity theft?
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Old Oct 6, 18, 4:55 am
  #24  
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Originally Posted by mia View Post
There is an article HERE describing a shutdown by another issuer, apparently based on reputational concerns.
A handful of employees, including senior executives, also agreed to pay settlements
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Old Oct 6, 18, 5:13 am
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Not to dwell on the minutia...but I thought 850 was a perfect score?
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Old Oct 6, 18, 6:24 am
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Originally Posted by ksingh0311 View Post
AMEX simply just doesnít goes ahead and cancel accounts of high spending millionaires.
But Amex certainly does take arbitrary, capricious actions without explaining or justifying them, which is why it cannot be your sole credit / pay method provider.
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Old Oct 6, 18, 7:18 am
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Originally Posted by kickedoffamex View Post
I am COO of a $1 Billion company and leader at my church. I haven't even hast a speeding ticket n the past 10 years. My last several annual earnings are 100X what I spent monthly.
Right.

Last edited by mia; Oct 12, 18 at 9:39 pm
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Old Oct 6, 18, 7:25 am
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misread
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Old Oct 6, 18, 8:40 am
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So I went into my AMEX account and it states my card after 25 years is cancelled and I have 335,922 points. When I used their site to check my credit it indicated I have a 765 credit score, zero late payments, using 1% of my available credit and $128,129 available credit. It did not allow me to upgrade to a Platinum or Gold card but did give me a $25,000 limit on a new AMEX cash card. I'm at a lost what the heck this corporate giant is doing to us. Is data analytics and desentizing loyal consumers taking over our economy?
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Old Oct 6, 18, 9:35 am
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there is also a membership rewards blue card and everyday card
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