Amex put a Cap on my Gold Card so I....

[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]

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]

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]

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]

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.

 

[Wes]

i don't have one the limit isn't high enough. j/k lol

 

[Airborneguy]

I'm getting rid of my Amex in about a month once I get all of the recurring charges switched to another card. I don't need to pay the fee anymore, not worth it for hwat I get in return. Plus, Amex doesn't help your credit as much as if you used a regular credit card and paid if off every month.

 

[ming]

You guys pay an annual fee for credit cards?
All of my cards doesn't require an annual fee, including my amex blue which has a limit of 24k.
Not to mention I pay off my card in full every month to avoid finance charges which is the biggest waste of money IMO if you carry a balance.

 

[Aqua Pro Builder]

You guys pay an annual fee for credit cards?
All of my cards doesn't require an annual fee, including my amex blue which has a limit of 24k.
Not to mention I pay off my card in full every month to avoid finance charges which is the biggest waste of money IMO if you carry a balance.

My Blue is free but my OLD OLD GREEN CARD requires fee and I am stupid enough to accept the offer to change to Gold. In fact, I think I keep on not ditching the Green card is just a habitual reason. You see the rep are so candy mouthed when they ell you a product. She started like, "You have been with us for so many years, what a good member. Are you interested in expanding the benefit of the Gold Service which iclude so and so, so and so." I should really think about cancelling it. My VISAs do not require fee.

 

[inkblue]

 

[crox99]

My Blue is free but my OLD OLD GREEN CARD requires fee and I am stupid enough to accept the offer to change to Gold. In fact, I think I keep on not ditching the Green card is just a habitual reason. You see the rep are so candy mouthed when they ell you a product. She started like, "You have been with us for so many years, what a good member. Are you interested in expanding the benefit of the Gold Service which iclude so and so, so and so." I should really think about cancelling it. My VISAs do not require fee.

So why are you keeping you AMEX when you have a free VISA? I don't know your credit situation but like someone said before the CC companies are getting tighter with they lending because people abuse their cards and than file for bankruptcy scruing them. Did they give you an explanation why they lowered your spending ability?

 

[boozeman]

That I will agree with. When I was ''invited'' to recieve the Amex Centurion card(amex black card) the rep made all the priveledges sound so wonderful.... and then he got to the part where the annual fee for it is 1k !
Thats when I hung up the phone :lol:

 

[reefman]

i only use cards that gives me $ back.
i may not b able to wave my card n get into any vip lounges though.

 

[NYreefNoob]

most business dont except amex because of the charge amex charg's them for allowing it to be used which is a double sided knife, we dont except it at our work because of it, plus they dont pay as fast as mc or visa

 

[Aqua Pro Builder]

So why are you keeping you AMEX when you have a free VISA? I don't know your credit situation but like someone said before the CC companies are getting tighter with they lending because people abuse their cards and than file for bankruptcy scruing them. Did they give you an explanation why they lowered your spending ability?

As I said earlier this is a habitual thing. I keep paying AOL couple years for something I have replaced with T1 for a long while.

They say they can no longer support my spending habit. I was spending ten of thousands a month with Amex. They even call me to pay before the due date which I did. Looks like they are really scared that we cannot pay back our charges or they are really short of cash. The same thing happened last week, so I pay before the due date and I decided to use cash for 11 rooms of pro audio equipment and the boss of audio store give me 2 percent off. LOL