800-842-5303

This number was given to me by American express to call when my card was suspended. The humorous thing is they suspended it even though i've never had a late payment, nor have I ever had a credit problem. They're apparently slipping, so I told them to just cancel the account and I would pay them off immediately.

This happened to me too on 26th/27th October. They dropped my credit limit from $13200 to $500 in one hit because of a problem with my credit score after a random credit check. I then ordered a copy of my full credit report and there was nothing wrong and no negative events. I think there is a glitch or something going on at American Express. And they never sent notification of the drop. I'm thinking class action!

Same thing. AMEX lowering credit limit based on data on credit report.  Checked credit report (which I have a monthly subscription through them by the way).  All EXCELLENT ratings on all three scores by all three companies.  Never been late.  Called AMEX to discuss.  Was told "I have a pattern of payment that usually has problems in the future and they decided to lower it to prevent a future problem."  What pattern?  They said "Where you shop, how much you pay per month, if you carry a balance."  WHAT???

Same thing happened to me, they lowered my credit limit, and I checked my credit report, but it was great. They have lost it. What a pain.

I think this is becoming an industry-wide pattern of pulling the plug on good-paying customers. The same thing happened to me just this week, with a different credit card company...and just in time for Christmas.

The credit card industry has their bread buttered on both sides: First, they paid MILLIONS of dollars lobbying Congress to get the Bankruptcy Laws reformed in 2005 to address abuses which did NOT exist and put more money in their pockets. Then, came the multi-BILLION dollar "bailout".

They have it MADE IN THE SHADE. As consumers, we don't stand a chance in HELL!

The banking and credit industry is in disarray. They have no clue what to do. I say lets screw them over! If you owe CC debts and can pay them then pay them off in full and cancel the card. If you have problems paying your CC debts then file BK and be done with them. Stop their gravy train!
Protest the bailout of these banks and let them all die a grisly death! It
is time for everyone to live within their means and stop letting corps and big banks control our govt! I think that is why we went for Obama.
Lets hope he supports us in these efforts.

My son just tried filing for Chapter 7 Bankruptcy yesterday. He was turned down, because the new law now requires that individuals pass a "Means Test". He failed it because they projected his income on money he no longer makes.

January 20th, 2009 cannot come soon ENOUGH for me!

Nov. 8 (Bloomberg) -- Washington Mutual Inc. got what it wanted in 2005: A revised bankruptcy code that no longer lets people walk away from credit card bills.

Washington Mutual, Bank of America Corp., JPMorgan Chase & Co. and Citigroup Inc. spent $25 million in 2004 and 2005 lobbying for a legislative agenda that included changes in bankruptcy laws to protect credit card profits, according to the Center for Responsive Politics, a non-partisan Washington group that tracks political donations.

http://lawandletters.blogspot.com/2008/03/dea ... d-industry.html

Although the new law was called the Bankruptcy Abuse Prevention and Consumer Protection Act or BAPCPA, it addressed abuses that did NOT exist and protected the credit industry instead of consumers. Nevertheless, we were told the law was necessary because bankruptcy had lost its power to shame.

In the new law, the consumer credit industry got just what it wanted. Industry lobbyists were able to fill BAPCPA with provisions to benefit banks, auto lenders, credit card companies, landlords, and nearly any other business that loaned money to consumers.

Congress passed the law, and The President signed it despite the warnings of bankruptcy academics, judges, and lawyers.

Where are the benefits of the new law? They are in the pockets of the consumer credit industry. Read the quarterly financial reports of the publicly traded major consumer lenders. Almost every one reports larger revenues and profits in their credit card business since the new law was passed. American Express, for example, reported operating income of $956 million for the third quarter of 2006 alone, an increase of 10% from the previous year. Also for the third quarter of 2006, Wells Fargo reported an 11% rise in total net income, $2.19 billion.

From bankruptcy courts and practitioners, we are hearing stories about the law's harsh application. A disabled debtor who had not worked in years and not had enough income to file an income tax return since the early 1970s was faced with a trustee's demand he produce those thirty-year old tax returns because the new law requires the debtor to produce the most recently filed return. Two judges have interpreted the law to require dismissal of a bankruptcy case when the debtor receives credit counseling the same day as the bankruptcy filing.

Another bankruptcy judge had a case with married debtors who were trying to work with a mortgage lender to repay a debt and avoid foreclosure. The lender would not confirm the precise amount of the debt and at the last minute refused to accept payment. When the creditor initiated foreclosure proceedings, the debtor made an emergency bankruptcy filing. The court had to dismiss the case for failure to obtain credit counseling. The judge's frustration with the new bankruptcy law boiled over in his concluding paragraphs:

"Apparently, it is not the individual consumers of this country that make the donations to the members of Congress that allow them to be elected and re-elected and re-elected and re-elected. The Court's hands are tied. The statute is clear and unambiguous. The Debtors violated the provision of the statute outlined above and are ineligible to be Debtors in this case. It must, therefore, be dismissed . . . . Congress must surely be pleased."

http://judiciary.senate.gov/hearings/testimony.cfm?id=2442&wit_id=5936

I agree with you mostly. However the Means test was set up to keep people who make over their state's average income from filing BK. If your son has seen a reduction of income then just wait until he files his 2008 tax return and file BK again based on those numbers. The BAPCPA is mostly a joke. Any decent BK lawyer can find ways around it unless you make a buttload of money. In that case you have no business filing BK anyway. I did not like this law when it was passed but after seeing how ineffective it was it really doesnt matter to me. Most people who need to file BK can still do so. But if you make good money but are living beyond your means you may find this law challenging. I hate Bush and all his agendas but this law is mostly toothless so I dont worry too much about it. Change is coming soon on January 20, 2009 to be exact.

I have been a cardmember with Amex since 1994. I have been late several times- only to pay off the balance (usually a few thousand dollars) in full within days of due date. I got one of these calls to tell me my Sign & Travel feature has been suspended. I was told this was due to a late payment within the past year and that Experian noted a credit or collection and serious delinquency on my credit score. I JUST GOT A $30K CAR LOAN WITH A 721 CREDIT SCORE! Amex is full of it, and is mistreating long time cardholders. These credit houses have far too much power, especially in these economic times where the laws are loaded against the consumer.

what a shame. Teach you to think twice. Visa and Mastercard is the way to go.

I got the call to call back that 800-842-5303 number to find out they slashed my $20,000 credit line to $500.  I have a perfect credit history (never a late payment, etc.) and have been with Amex for over 6 years.  Honestly, the credit decrease to $500 was just an insult.  It really isn't even worth it to keep that card in my wallet so I canceled the card.  The guy canceling the card really had nothing better to tell me to try to keep me...he even asked me when did they notify me of the credit decrease.  

Well, good luck Amex...you just lost another customer and I'm sure you'll lose plenty of customers with this credit decrease move.

Got the dreaded call tonight on my answering machine. It's nice to know these people are too gutless to call you person to person, but instead have a machine do it.

I have been an American Express customer for 18 years and have never been late or missed a payment. We have excellent credit.

If they reduce my credit limit, they better be prepared because I'll go ballistic on them!

Got a message from them on the answering machine today, checked here to see what it was.

Logged into my Amex Account and even though I have half my limit outstanding, apparently they lowered it as it's showing me as over my limit.  There is noplace on the website that shows your credit limit anymore, just the statements.  

I hardly ever carry a balance of over a few hundred dollars with them, this is most certainly their loss.

It was a call from American Express telling me that they reduced my credit limit by $1,500. So now I only have a credit limit of $500. Though I have a good credit report with no dings or lates with anyone on my report along with having a 720+ FICO score, I was surprised that American Express has savagely reduced my credit limit so severely.

I got 2 calls to my cell phone, no message, when I reversed the number I came upon this site, I do not even have an amex, wtf?

Oh the number was 800-842-5303

Just got the call, same situation as others in here.
Curious? Has a recent online purchase (approx. 4hours ago) involving amunition anything to do with this? Did anyone else make any kind of weapons purchase prior to lowering of credit line? Funny or just by chance!

I am curious that they leave a number to call but when you call them back they ask for your SS number if you don't have your card with you.  There is nothing on the caller ID that says who they are.  Did you all really just give your CC number and your SS # over the phone to a stranger?

I just received the same call reducing my credit card limit to just $200 over what I owe.  I pay more than my minimum payment but my balance is from a balance transfer I got at 2.99% until May.  God only knows what my interest rate will be then.  I am so tired of these credit card companies.  They would have you think that they are losing money but they have been raking in millions for years.  Every time a comsumer purchases an item with his credit card the vendor is charged a fee.  It's up to about 4% now.  Then they charge the consumer interest on the purchase.  They are getting money from both ends.  

Now they are raising interest rates to ridiculous levels. Don't they realize by raising interest rates that they are just going to have more people default on their credit card bills?  It doesn't take a genius to figure that out.

One piece of advice for all of you out there that have equity in your homes and are thinking of refinancing to pay off your credit card debts - don't do it.  Keep your mortgage payment current and don't jeopardize your home to pay off credit cards.  The credit card companies cannot force you to sell your home.  They can put a lien on your home that has to be paid when you sell it - but that could be 30 years from now. Don't let the companies intimidate you.

By the way - my husband got the call from American Exjpress and he had no clue about it. He didn't even realize we had an American Express card. He just took down the number and told me he got an automated call from American Express.  I didn't call back on the 800-842-5303 number.  I wasn't going to give my card number over the phone to a number from an automated caller I didn't know for sure belonged to American Express.  I called the number on the back of the card to see what it was all about.

I just received the same call reducing my credit card limit to just $200 over what I owe.  I pay more than my minimum payment but my balance is from a balance transfer I got at 2.99% until May.  God only knows what my interest rate will be then.  I am so tired of these credit card companies.  They would have you think that they are losing money but they have been raking in millions for years.  Every time a comsumer purchases an item with his credit card the vendor is charged a fee.  It's up to about 4% now.  Then they charge the consumer interest on the purchase.  They are getting money from both ends.  

Now they are raising interest rates to ridiculous levels. Don't they realize by raising interest rates that they are just going to have more people default on their credit card bills?  It doesn't take a genius to figure that out.

One piece of advice for all of you out there that have equity in your homes and are thinking of refinancing to pay off your credit card debts - don't do it.  Keep your mortgage payment current and don't jeopardize your home to pay off credit cards.  The credit card companies cannot force you to sell your home.  They can put a lien on your home that has to be paid when you sell it - but that could be 30 years from now. Don't let the companies intimidate you.

By the way - my husband got the call from American Exjpress and he had no clue about it. He didn't even realize we had an American Express card. He just took down the number and told me he got an automated call from American Express.  I didn't call back on the 800-842-5303 number.  I wasn't going to give my card number over the phone to a number from an automated caller I didn't know for sure belonged to American Express.  I called the number on the back of the card to see what it was all about.