"Listen To This": Blue Sky from American Express® Review

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Written by: alit123 on 2009-01-15

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I received a approval from AMEX for the blue sky card. Good score above 752 equifax... Then I was approved and got the card with a 7k limit... I used it for $1800 and when I got the bill I paid in full... After paying it off I used it like a week later and it was declined. I called them immediately.

they told me that you have a high debt on other cards... I told them I pay it off in full every month... She told me to call again when the card canceled dept is open..(they actually have a card cancel dept)... Then I re-checked my credit report and it had a 757 score... Better than before... And total debt owe is 2%. I called the debt cancel dept the next day he told me that your credit score has decreased from before when your card was issued... I told them I have a copy of my recent report and its better than before... Then he told me to talk to a account specialist... She told me it was done because the economy is bad... What are you talking about..3 reps with a different story... I was told to write a letter and maybe able to get the card restored... On the letter I wrote that I don't want it restored but I guarantee AMEX that I will find atleast 5 people with a long time relationship with AMEX to have their accounts closed... I did find them all in my famliy and they closed their accounts... I also gave their names in my letter... Then 3 weeks later I get a letter from AMEX saying your account has been restored and ready to be used again with a 10K credit line. I said I don't want your and everyone in my family don't want it either... We used up to 15k a month for personal and business use and sometimes paid good interest... If AMEX still keeps up with this kind of bull[Edited] it will lose many customers... It will go bankrupt soon in an EXPRESS way...




Comment 1 by eldarwen
Amex on 2009-01-16

Amex has been going a lot of funny business and is hurting a lot of people. They gave me a CLD and I use them for random things like picking up milk and bread, but not much else.
Comment 2 by meya
That's Sad! on 2009-01-16

Amex, needs to only have their cards available to people that are "Rich and Famous" only. They are not going to find anyone that does not use their credit cards and they are not going to run across the perfect person. Why? Because we are humans and no human is perfect, but what they can find is a person who is honest enough to pay off their debt. When you find someone in that manner, you need to treasure it. I know this is just my assumption but I bet you, it is more honest people than rich. What kind of specialist are these people to approve you at the status you are, then hide behind bricks staring at you right after they approve you?

I find these stories that creditors such as Amex utilize, as faulty, prejudice, and down right scandalous. That is stupid to judge you from what you have charged on other cards regardless to if it was 70% or not, what matters is them looking to see if you are struggling to pay debt off. I can clearly understand a decrease then. They know the economy is struggling so they look stupid on their end to lend a card in the high thousands.
Comment 3 by brian23
I Agree Too.... on 2009-01-16

This is actually what we've been talking about in the other thread. This is crazy non-sense, I know more people who have been burned by Amex lately than any other credit card. They are digging themselves deeper in the hole. The are pissing off good paying customers to the point where people don't even want to do business with them. I can also understand why CC companies will periodically review your CR to see if you are in good standing with your other creditors (and than if you aren't give you a possible decrease). But to cut off your entire CL because your score has gone down a few points or because you have high utilization on your other cards. THATS TOTAL BS. They only thing they need to worry about is, "are you paying them in full and on-time every month?" Besides that, nothing else should really matter.

I tell you what, when this whole credit crisis is over, people will be so over AMEX that they will be the next creditor to go under.
Comment 4 by thomas1
AMEX on 2009-01-17

Cut your losses now and run from Amex. They are on the chopping block. Don't be surprised to see the demise of Amex as we know it.

They are only catering to the very wealthy these days. They are profiling cardmember credit reports for any reason to cld or close a good account.

If they don't like where you shop, they are going to close it.

Go with Citi or BOA, both of these banks are also in trouble these days, but you can get an Amex co-branded card with your score.

That said, it they closed your account, that's not going to look good for your scores or reports if its closed by grantor. I have seen some reports reporting by the creditors that way, and some closed by consumer. Check your reports anyway to see when it hits your bureaus. It may not hurt you too bad with your score as it is.

It's a real shame this is happening to a lot of people. Amex obviously doesn't care or know what they are talking about.

I'm so glad I closed mine 9 years ago!!
Comment 5 by ashes
Good Riddance on 2009-01-17

Seems like Am Ex is getting out of consumer space. They are still the brand for Fortune 500 corporate cards but it seems like for consumers they are making all sorts of excuses to be as anal as they can. I am glad Bank of America and a few others offer Am Ex logo because these banks (I have a BofA Am Ex) are much easier to deal with and work with than Am Ex themselves.
Comment 6 by colonative
Others Do It Too on 2009-01-18

This is the environment we are living in now. You can thank all the people who bought houses they couldn't afford.

I have had my Amex since September 2008 with no trouble at all. I have low credit usage, have a high credit score and I live in one of the wealthiest counties in the west. If I were to move to say, Glendale, AZ like I want to I bet that Amex would do a CLD on me.

So, if you live in a city or county that is not doing well or if you use 30% or more of your total credit, avoid Amex like the plague.
Comment 7 by mrrob
WOW on 2009-01-19

AMEX is realing becoming difficult. You are better of going with BOA or CITI
Comment 8 by wilt
B Of A Closed My Account on 2009-01-19

Well, I ran into a similar situation with B of A. I recently got my Visa Plus converted to A B of A Amex and called to get a CLI. The Analyst told me that he could not because I had high utilization on other cards and I had a past bankruptcy. I received the B of A card AFTER my bankruptcy and asked why that mattered. He said that he counldnt give me a CLI. I went to the bank later on to handle some business and was told the my CC had been closed. The analyst closed my account without telling me and his reason was a past bankruptcy. I was so livid. I had no late payments of any sort on any of my accounts. I called them back and another analyst said that he would not be able to reopen it due to my high utilization on OTHER cards. I called back for the third time and this time the analyst apologized and said that he'd try to make things right. He reopened my account and apologized again. I also bank with them and have a good account history.

It's not just AMEX who's closing accounts these days.
Comment 9 by nyc123
Damn on 2009-01-22

AMEX sucks and everyone should know that... Its only for the rich who can pay it off in full everymonth and that have good scores... In this economic situation it only cares for the rich... It closed all others or cut their CL... When the economy goes up again nobody should accept offers from AMEX because they would leave you in hard times even if you were never late and didn't over over the limit..
Comment 10 by phynanciallysavvy
Re: Listen To This on 2011-10-10

I dont have this particular card, but since we're sharing AMEX stories:

My mom got back into the Amex family last year, after nearly 20 years and a bad divorce had passed. (They had a joint AMEX account during the good years, but like their marriage, the account also went sour.)

Her CS is and has been over 800 for the last three years. So she splurged and applied for an Amex and got approved. Then only a few months after opening the account, AMEX called her on her cell phone while she was at work -- DEMANDING that she provide copies of her 1040 tax forms for the previous 2-3 years... So that they could verify her income. (My parents are big spenders but they pay all their cards off in full each month, so this raised questions. My step-dad's income is 5x my mom's - but she is the primary account holder, so that's who's income was considered for her CL amount.)

Anyway... ARE YOU KIDDING ME?! She obliged and sent them her tax forms, and everything has been fine since. She even has a second Amex now.

However, I don't care what lender you are - how dare you ask for copies of my taxes to verify my income. That's where the term "credit worthiness" comes from! Personally, I would have closed and cancelled that account immediately. Having any brand of a CC is not THAT important to me.
Comment 11 by brent91055
Re: Listen To This on 2013-04-07

AMEX sucks. After being a customer for almost 5 years and never missing a payment, they cut my credit limit from 5K (which is low in comparison to my other cards) to 1300. I called them and told them where they could stick their card. The rep told me that they could try to give me a credit line increase but it would require a credit pull. I told the rep no and immediately closed my account.
Now, whenever I get a pre-approved offer from AMEX, it goes immediately into the shredder without even opening the envelope. I absolutely refuse to do business with them.
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