What American Express did:
I received approval for an AMEX gold card in January of this year. I paid my balance in full each month. Without issue. Once time a payment was returned, in March, due to me accidentally putting an incorrect account number in. I immediately called AMEX and rectified the issue the same day and paid for the error. About 30 days later they changed me from an unlimited account (which I never could get approval for more than $12k) to a preset spending limit of $11,700. I appealed the decision but they denied my appeal so it remained. I had a disruption in my income that I knew would delay my ability to pay my bill in full so I called Amex, and let them know I was only able to make a partial payment, due to the issue, they told me that was not acceptable and that they only accept payments in full. I asked about financial relief programs they dismissed me. I went to make my partial payment and accidentally submitted a payment for the full amount around 7/18/22 via my Amex app. There was no option to cancel the payment so I called Amex. They said they couldn’t cancel the payment but we (Amex and I) called my bank together, attempted to put a stop payment on the payment and the Amex customer support person stated she would note the error in my account and to “rest assure since I called, and it is know, it will not be held against me”. AMEX presented that payment 5 times at my bank. Despite the call and the stop payment (which I later found out was in error due to the teller not letting me know I had to come in and sign for the stop payment to take effect it was a new business bank account to me so I didn’t know the procedure) I called AMEX to let them know I about the issue. Made a partial payment $1000, but had been making partial payments through out. An Amex rep called me (likely collections) to inform me that if i didn’t pay my balance by 9/17/22 my account would be reported late to the credit bureaus. I informed them that I would pay the full balance of $10,600 by the close of my billing cycle 9/17. On approximately 9/12/22 I paid the amount in Full. Amex calls to verify the funds because I didn’t want to continue being listed as late. They verify the funds return my account to good on time status and 2 hours later I received an email saying they are changing my preset spending limit from $11,700 to $1,700. I took all of my money I was paid from a contract to pay that and needed those funds for throughout the month. So I applied for an appeal they denied me , so I informed AMEX I would have to stop payment on the $10,600 because it would cause me a severe hardship. I received a letter about 7 days later saying my account would be closed. I began receiving collection calls. Spoke to someone yesterday from Amex as a result of the collection calls explained the Situation and that I would just deal with the negative effects and just pay $1000/ month for the next 10 months until it’s paid. The AMEX rep offered me a plan to pay off the balance through Amex’s financial relief program, and stated all of the protections (no negative marks against you with the credit bureaus, maintenance of account so when paid off you are in good standing etc.) the agent asked me after reviewing notes if anyone offered me that option when I called, I told them no. The Amex person said they were going to file an internal Complaint. I want to file a further complaint though because I communicated with Amex, asked for help, and they did not help me until after the harm was done to my finances and my credit. I asked repeatedly for assistance and they never offered me help until it was too late to save my credit and that is not right. Many Americans especially entrepreneurs like me struggle to stay afloat and just need temporary assistance (I literally needed 45 days) and when we don’t get it he residual effects of credit score loss and having late payments on your history. The program they enrolled me in yesterday was available to me 45 days ago and despite me asking was not offered to me and could have saved me from a 200 point credit score drop and now going from no late payments to 1 30 day late payment and if I have been enrolled when I originally reached out for assistance I could’ve avoided all of that.
Submitted by: Anonymous American Express customer in Hamden | Read more American Express complaints
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