Amex Credit Card Complaint

Amex Credit card department,

Delinquent account Massachusetts

I Had been a member of - - since 1980. During that time I have kept the account in good order and have had perfect credit for the past 30 years. I am a - in the - - Area and have had some difficulties in recent months having lost - sales. This had greatly impacted my cash flow. I fell behind in payments to - - as a result of this and have attempted to work with them to bring the account up to date. During various conversations with - -, I have been given information which has varied, to say the least. I was informed that if my account did not reach 120 days late ( which it had not ) it would not be reported to the credit bureaus. I aggressively paid down


I was recently informed, without notice, that the account had been cancelled and reported as such to - - - and - by - - despite previous representations that it would not be reported. With this derogatory information on my credit, it could cripple my business. I rely upon construction loans from lending institutions to operate my business and my fear is that this negative information will prevent me from obtaining this needed financing going forward. Additionally, - - has assessed service charges on this account which totalled more than $10000.00. The rate of the service charges was 2.99 % per month on the outstanding balances. I was also informed that I had lost over - points that I had accrued through the use of this card prior to this difficulty. Any assistance that you can offer in this matter will be greatly appreciated. - - -