PERFECT CREDIT - AMEX Cancelled???
Oct 6, 2018, 9:53 am
#31
FlyerTalk Evangelist
Join Date: Aug 2005
Location: BOS/EAP
Programs: UA 1K, MR LTT, HH Dia, Amex Plat
Posts: 32,055
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?
It is perplexing that Amex lets you get a new card, but cancels your existing one. That's very peculiar.
765 is not that high of a credit score, did it have a sharp drop recently?
Last edited by mia; Oct 12, 2018 at 9:40 pm
Oct 6, 2018, 10:57 am
#32
Original Poster
Join Date: Oct 2018
Posts: 8
Thx
Appreciate everyone’s help on this but I have our company’s credit director and legal counsel looking int this. Just a quick responses to some of your replies -
1. Why you use chat room? Having come from meager background, I am obsessed about my financial position (and giving much away). This happened to me while I was flying home on a Friday afternoon on business and two charges were denied. I was pretty shocked by the event and the demeanor of the AMEX representative I talked to. Although, I thanked her for her time and acknowledged she was just the messenger. Finding a chat board on google was the first thing I tried to understand.
2. Perfect Credit/Credit Karma. I understand perfect credit is 850 but this was just a quick title of my chat discussion. Been a subscriber of Credit Karma for a while and follow closely. Since I co-signed my nephews school loan a several years ago and he quit paying after he dropped out of school, my credit dropped from 825 to where it today and it has been in that range for 2-3 years. My bride is 825.
3. Yes, I’m curious to read the letter and will forward to my counsel before they take the time to contact AMEX.
Again, I want to thank everyone for their input on this thread. I’ve been a huge fan of AMEX over the past 25 years and they’ve been great for us and I guess the emotions and confusion got the best of me. I’ve already subscribed to a southwest card but at this point I’m mainly curious about ‘the why’ this has happened if nothing else so I can keep something like this from happening to my customers and to me in the future.
have an awesome weekend!
jim
1. Why you use chat room? Having come from meager background, I am obsessed about my financial position (and giving much away). This happened to me while I was flying home on a Friday afternoon on business and two charges were denied. I was pretty shocked by the event and the demeanor of the AMEX representative I talked to. Although, I thanked her for her time and acknowledged she was just the messenger. Finding a chat board on google was the first thing I tried to understand.
2. Perfect Credit/Credit Karma. I understand perfect credit is 850 but this was just a quick title of my chat discussion. Been a subscriber of Credit Karma for a while and follow closely. Since I co-signed my nephews school loan a several years ago and he quit paying after he dropped out of school, my credit dropped from 825 to where it today and it has been in that range for 2-3 years. My bride is 825.
3. Yes, I’m curious to read the letter and will forward to my counsel before they take the time to contact AMEX.
Again, I want to thank everyone for their input on this thread. I’ve been a huge fan of AMEX over the past 25 years and they’ve been great for us and I guess the emotions and confusion got the best of me. I’ve already subscribed to a southwest card but at this point I’m mainly curious about ‘the why’ this has happened if nothing else so I can keep something like this from happening to my customers and to me in the future.
have an awesome weekend!
jim
Oct 6, 2018, 11:23 am
#34
Join Date: Dec 2017
Posts: 1,107
One bit of suggestion, as you seem to be in an influential position within your company. Remember how this situation has made you feel, and perhaps reflect on that lesson and let it be a learning tool in how your business interacts with its customers.
Oct 6, 2018, 11:35 am
#35
Join Date: Apr 2002
Location: Atlanta Metro
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Posts: 2,358
Anyhow, I really sympathize with the OP. I know exactly how he feels. It's like having the rug pulled out from under you. Or like being falsely accused of something. He's worked really hard to build his credit and his reputation, and now--poof!--it seems for naught. Extremely upsetting.
Best of luck getting this resolved. It's not you, it's them!!
Oct 6, 2018, 12:08 pm
#36
Join Date: Dec 2017
Posts: 1,107
I know you probably don't intend to, but this sounds rather snide and scolding. You don't know that his company doesn't already offer thoughtful customer service, and a comment such as this suggests that the current CS is lacking. I think maybe you intended something different? Maybe you wanted to suggest that something positive could come of this by using it as an example for his employees?
Anyhow, I really sympathize with the OP. I know exactly how he feels. It's like having the rug pulled out from under you. Or like being falsely accused of something. He's worked really hard to build his credit and his reputation, and now--poof!--it seems for naught. Extremely upsetting.
Best of luck getting this resolved. It's not you, it's them!!
Anyhow, I really sympathize with the OP. I know exactly how he feels. It's like having the rug pulled out from under you. Or like being falsely accused of something. He's worked really hard to build his credit and his reputation, and now--poof!--it seems for naught. Extremely upsetting.
Best of luck getting this resolved. It's not you, it's them!!
Yes, my intention wasn't to condescend. I have no knowledge of how their employer treats their customers.
Oct 6, 2018, 12:18 pm
#37
Join Date: Feb 2017
Location: Everywhere and Nowhere
Programs: DL GM
Posts: 515
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.
Of course you never know when Amex (or any other company) might pick your name out of a hat for review, but I the idea that a card might simply be cancelled out of the blue is crazy. I wonder if perhaps it was inactivity, rather than some sort of punishment.
Oct 6, 2018, 12:47 pm
#38
Join Date: Sep 2016
Location: HSV
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Posts: 1,509
Perhaps there was account activity that triggered a perceived TOS violation and the cancellation was immediate and automated.
I'd wager AX will rectify the situation once the matter is reviewed.
ETA: After having pondered this more, I've decided to add another thought... So, please take the following as one-part ridicule and three parts constructive criticism:
We're all creatures of habit. Assuming you're no different, and assuming your posts are genuine, you've made a grave miscalculation. You're posting on a highly-visible, entirely open / public Internet forum. You've also apparently used your REAL name, basically divulged your employer, position, very personal financial details such as relative income level, that you've been an AX cardmember for 25 years, that you're active in your local church, divulged both yours and your wife's credit scores, etc.
You've just committed the Internet-equivalent of voluntarily cutting yourself open while swimming naked with Great Whites. There are no shortage of people out there who can, quite easily, take this information and make your life a living hell -- and I'm not being the least bit hyperbolic.
I strongly suggest, in the most ardent terms, that you immediately change your online information sharing habits. In fact, I'd even recommend you request the MODS actually DELETE this thread -- it's that serious.
With this in mind, I wouldn't be surprised in the slightest to discover that your strident online habits are the root cause of the very problem you come here seeking help for. If they weren't this this time, they will be soon.
I'd wager AX will rectify the situation once the matter is reviewed.
ETA: After having pondered this more, I've decided to add another thought... So, please take the following as one-part ridicule and three parts constructive criticism:
We're all creatures of habit. Assuming you're no different, and assuming your posts are genuine, you've made a grave miscalculation. You're posting on a highly-visible, entirely open / public Internet forum. You've also apparently used your REAL name, basically divulged your employer, position, very personal financial details such as relative income level, that you've been an AX cardmember for 25 years, that you're active in your local church, divulged both yours and your wife's credit scores, etc.
You've just committed the Internet-equivalent of voluntarily cutting yourself open while swimming naked with Great Whites. There are no shortage of people out there who can, quite easily, take this information and make your life a living hell -- and I'm not being the least bit hyperbolic.
I strongly suggest, in the most ardent terms, that you immediately change your online information sharing habits. In fact, I'd even recommend you request the MODS actually DELETE this thread -- it's that serious.
With this in mind, I wouldn't be surprised in the slightest to discover that your strident online habits are the root cause of the very problem you come here seeking help for. If they weren't this this time, they will be soon.
Last edited by TheHorta; Oct 6, 2018 at 1:35 pm
Oct 6, 2018, 1:44 pm
#40
Join Date: May 2000
Location: Houston, TX, USA
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2. Perfect Credit/Credit Karma. I understand perfect credit is 850 but this was just a quick title of my chat discussion. Been a subscriber of Credit Karma for a while and follow closely. Since I co-signed my nephews school loan a several years ago and he quit paying after he dropped out of school
Can you describe in more detail what appeared on your credit report as a result of the non-peforming loan? It could be anywhere from "30 days late" to "turned over to collection." I'm assuming that with you being the co-signer that the loan was eventually paid in full, but that doesn't change the historical fact that it went past due, how far it went past due, or that it had to go to collecting before being paid as agreed - whatever the particulars of the situation are.
Keep in mind that by co-signing, you took full responsibility for the loan, and any repayment issues are no different than if you had done them with one of your loans directly. To quote the Experian site https://www.experian.com/blogs/ask-experian/how-cosigning-affects-credit/ :
co-signing for a ... loan means you are agreeing under a legal contract to be equally responsible for making sure the bill gets paid on time, and the account will appear on both your credit report and the credit report of anyone else listed on the loan. ... You are responsible for ensuring that payments are made on time, even if the bills don't come to you. The lender isn't responsible for informing you when the person who typically makes payments on the account misses a payment. It's up to you to monitor the account.
Last edited by mia; Oct 12, 2018 at 9:41 pm
Oct 6, 2018, 1:50 pm
#41
Original Poster
Join Date: Oct 2018
Posts: 8
The non-payment by my nephew was 46 months ago and he has paid on time since. Also, I already left an VM for the loan company to call me Monday so I can pay it off and work something out for my nephew.
Also, as you can tell, I don't use chat rooms (ever) so i have contacted the administrator. I appreciate the obvious advice. I started this thread on my phone from the airport yesterday.
Also, as you can tell, I don't use chat rooms (ever) so i have contacted the administrator. I appreciate the obvious advice. I started this thread on my phone from the airport yesterday.
Oct 6, 2018, 2:09 pm
#42
Join Date: Aug 2010
Location: Formerly Box 350, Boston Mass, Oh two one three four. Now near Beverly Hills 90210
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Posts: 3,938
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.
Oct 6, 2018, 3:30 pm
#43
FlyerTalk Evangelist
Join Date: Jun 2006
Location: IAD/DCA
Posts: 31,797
you clearly have no frame of reference to high level people being on the web. quite a few are. is it a large percentage that are posting on FT/etc? absolutely not.
also average post count on FT is extremely low.
Oct 6, 2018, 3:44 pm
#44
Join Date: Mar 2013
Location: EWR
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Posts: 1,255
OP,
You don’t have perfect credit. You yourself have admitted to:
1) Not paying your Bank of America bill on time
2) Being deliquent on student loans
Regardless of the reasons, these are the facts. This is why AMEX cancelled your accounts. I hope you can get everything restored but I believe you should realize that major corporations that have 1,000,000s of customers cannot listen to every single persons story. They have predetermined computer algorithms that say “so and so is a good customer” and “so and so is a bad customer”. Your profile, as you have described, is one of a bad customer.
I will give you a quick story that would relate to your business if what everyone above says is true. When I became treasurer of my fraternity in college, the prior one was completely deliquent. He did not pay bills on time even though we had the money. We even had our electricity shut off at the frat house. When I became treasurer I had to go down to the utility office to get it turned back on. They wanted a $5000 deposit. They did not care that it was a prior treasurer was irresponsible. They did not care that we didn’t have $5000. All they knew is that our “account” was risky. You now have become risky because of things that have happened. Please take this time to consider how yuou handle your personal finances going forward.
You don’t have perfect credit. You yourself have admitted to:
1) Not paying your Bank of America bill on time
2) Being deliquent on student loans
Regardless of the reasons, these are the facts. This is why AMEX cancelled your accounts. I hope you can get everything restored but I believe you should realize that major corporations that have 1,000,000s of customers cannot listen to every single persons story. They have predetermined computer algorithms that say “so and so is a good customer” and “so and so is a bad customer”. Your profile, as you have described, is one of a bad customer.
I will give you a quick story that would relate to your business if what everyone above says is true. When I became treasurer of my fraternity in college, the prior one was completely deliquent. He did not pay bills on time even though we had the money. We even had our electricity shut off at the frat house. When I became treasurer I had to go down to the utility office to get it turned back on. They wanted a $5000 deposit. They did not care that it was a prior treasurer was irresponsible. They did not care that we didn’t have $5000. All they knew is that our “account” was risky. You now have become risky because of things that have happened. Please take this time to consider how yuou handle your personal finances going forward.