Amex Credit Card Complaint

Amex Credit card department,

Credit line increase/decrease Texas

I own a small company that has been using American Express credit cards to pay for court filing fees for our clients for over - years. My accountant received a call yesterday from Amex stating that they were reducing our limit from $280000.00 per month to $50000.00. I joined the call and spoke with several managers ( all recorded ) and was told the reduction would take place in - hours, that I could appeal but it would take - days after I compiled the information they require for them to make a decision, and that there was no other options. I asked if they had planned to notify us by mail and they stated a letter was going out that day ( yesterday ). When I asked why they decided to reduce the credit limit with almost no notice I was told we had been late on - payments. I reviewed both payments with them and provided statements from their system that our payments had in fact been made early, not late, and that we had not been late on these or any payments in the past. We are require by the courts to pay for most case filings


will not be able file their cases until I am able to secure a different credit card with a high limit or get the appeal settled with Amex. We will also see our credit score drop dramatically because the reduction in the line will cause our loan-to-available-credit ratio dramatically increase. I believe this act should be considered Unfair, deceptive, abusive acts and practices as defined by the Dobbs-Frank Act. Had we been given enough time to respond and appeal prior to the massive reduction taking place, the chances of loosing a large client would have been far less. As it stands now we are scrambling to find a new solution and to compile the financial information requested by the underwriters at Amex.