Wednesday, April 8, 2009

Important Account Status!

Today I received an email about my new credit line reduction. I noticed that the language is different than the last email. They are using more emotional words such as: "we don't want you to have any surprises" or "we all have to make difficult decisions."

Here is a copy of the email:

Dear Cardholder:

We are contacting you to be sure you do not have any surprises when you use your card. In this difficult economic environment, we all need to make choices about how we spend and save. For us, that means carefully reviewing the spending and debt profiles of our Cardmembers - and making some difficult decisions. Unfortunately, we have had to make the decision to lower the credit limit on your account listed above.

Your revised credit limit for purchases is now $xx,xxx.xx. The new cash advance limit is $200.00. Please ensure that any additional Cardmembers on the account are also aware of this change so they do not have any negative experiences when they use the Card.

You will also receive this information by letter, but we wanted to be sure you were aware of this change as soon as possible. We strive to be a responsible lender during both prosperous times and more challenging ones, and we do remain committed to our relationship with you.


American Express Account Services

Well, you know...I strive to be a responsible customer too.

Leave Home Without It!

Tuesday, April 7, 2009

The Reductions Continue!

I woke up this morning to a nice automated phone call from American Express. They conducted a "financial review" on my Platinum Business Credit card and took away the little available credit that was left. More evidence that they more you pay, the more they take away.

I think it's time that we as customers start doing our own "financial review" of American Express. I just completed mine a few minutes ago...and the results are in:

Leave Home Without It!