[Aqua Pro Builder]

downgrade my account back to regular Green Card. Will decide if I will completely ditch their cards. LOL

I rather spend my money with the Visa now.

Amex wanted to charge me $125 annual fee but only give me the spending limit of the Green Card. They also lower my credit line on the Costco card. Well, you know what, they loose the couple percent they can have made in the merchant's fee as I will use mostly other cards. I feel so good that Amex's scheme of scamming money does not work on me. If you are in the same boat, double check if they put a cap on your spending limit and make the card very inconvenient to use.

[Tangs Rule]

I've had the same problem with Amex in the past. I had a gold card and an Amex One (they put 1% of everything you charge on the card into a savings account for you.) It sounded like a great deal until I used the gold card once and it was rejected. I called up and they said that the balance between the 2 cards was too high at about $1,700. I paid them and cancelled both cards on the spot. They suck.

[Aqua Pro Builder]

Quote: Originally Posted by Tangs Rule I've had the same problem with Amex in the past. I had a gold card and an Amex One (they put 1% of everything you charge on the card into a savings account for you.) It sounded like a great deal until I used the gold card once and it was rejected. I called up and they said that the balance between the 2 cards was too high at about $1,700. I paid them and cancelled both cards on the spot. They suck.

Gold does now even worth $1700.00, what a good label they put on the card to scam money. i thought that even the Green used to allow us to over 20G. HAHAHA I remember they used to say, "Beside a car, you can use you Green car for almost anything."

BTW anyone knows if the stocks/business trend going up or down?

[TimberTDI]

It's not just AMEX who are tightening there lending criteria.

The whole credit card sector is about to take a beating in the coming months. Bankruptcy filings accelerated by 47 percent from the same week a year ago to 27,392 filings.

They will all do like the airline industry has done and nickel and dime you to death.

Steven

[TimberTDI]

If people can't pay there mortgage you think they are going to pay their credit cards?

[Aqua Pro Builder]

Quote: Originally Posted by TimberTDI If people can't pay there mortgage you think they are going to pay their credit cards?

So true, but the concern here is not so much about tightening the credit but Amex actively try to sell the Gold Label(requires more annual fee) but in less than a month or so, put a CAP on the card which renders it below the the regular card. Visa does not ask me to upgrade my card(in another word pay them more) and then lower my limit. Instead, some new visa companies wished me to switch over to them with higher limit. The current Amex practice seems to me that they are in very bad shape or they are lowering their business moral to become very similar to previous Capital One(not sure they are the same after the buyout by HSBC)-you simply don't know where all the charges come from and it take forever to resolve non-authorized purchases, yet they always put them on your card-I wonder how those merchant got your security code if they are not associated with the card companies directly(For a while I wish to become one such merchant who can charge someone's card without the code-LOL). If you slipped on your statements for 2 months, you probably would have lent $50 to some companies for a month. I wonder how much money the card companies made in these unauthorized borrowing of money.

[boozeman]

WOW, I'm surprised !
I absolutely love my Amex and all the perks it brings. I only carry my visa and mastercards because there are places that dont take amex, but I rarely use them.

[Aqua Pro Builder]

Quote: Originally Posted by boozeman WOW, I'm surprised ! I absolutely love my Amex and all the perks it brings. I only carry my visa and mastercards because there are places that dont take amex, but I rarely use them.

Probably your Amex is Platinum(not Gold) and it carries its privilege

[Wes]

Get the Black Amex

[jhale]

Quote: Originally Posted by Wes Get the Black Amex

ok We$ Diddy

I've been getting less junk credit card offers this year.

I used to get a few a month from amex, now it's way down.