I have read a bunch of articals telling us about Amex and how they don't like people to use their cards at certain stores and some stuff on TV. The media is acting like this is a new thing. It's not a new thing, they just have not been paying attention to it.

... and all this is new to the media.

I wonder if President Obama has an AMEX card.

I saw something about American Express today on the morning news. It was pretty much about Amex cutting limits depending on where you shop. I wasn't paying attention to what show it was but it is something we have seen before. Of course Amex isn't going to tell us what those stores are.

I'm glad I'm finally member of PenFed CU (Pentagon Federal CU) because I know that if I keep on building my credit postively for the next few years, they will reward me with high CL's, low interest rates on loans, and great CS.

I agree ColoNative, my school has one and I plan on joining it. Credit unions are much more customer friendly IMO and give you more for your money. I just do so much banking that BOA has become like second nature to me, especially being able to make cash deposits without envelopes after hours, etc. and this particular credit union only has one branch that is in an unconvenient location to me, but I'm still going to join, lol

The only thing I do not like about most credit unions are their names. They used to have cool names that related to a school or an employer. I have a credit union that was the University of Colorado credit union (UofC FCU) they recently changed it to Elevations CU, I hate that! I am weird I know. That is why I like Pentagon FCU or Navy FCU.
Also, most credit unions share branches now, its called CU Service Centers. I go to a local credit union here to deposit at Pentagon FCU-though they do have a branch in Colorado Springs if I really needed it. Your credit union's website should have a search service for these shared branches. But yeah, I am all for giving credit unions my future business.

I agree ColoNative, my school has one and I plan on joining it. Credit unions are much more customer friendly IMO and give you more for your money. I just do so much banking that BOA has become like second nature to me, especially being able to make cash deposits without envelopes after hours, etc. and this particular credit union only has one branch that is in an unconvenient location to me, but I'm still going to join, lol:cheesing:.

did anyone hear about this? its crazy the limit being decreased depending on what stores you shop? I am curious about this if anyone has herd of the list or herd of this?

http://abcnews.go.com/GMA/GetsAnswers/story?id=6747461&page=1

I'll admit that this is downright evil and it has damaged their reputation beyond repair. But I want to point out that it isn't just Amex right now doing things that are unfair and deceptive.

Credit unions are the way to go as far as I concerned.

Not that I'm taking up for them, but maybe they took a look at your spending, compared to your income, and length of time the account had been opened, and got nervous. The mere fact they felt you were worthy to be one of their cardholders is a compliment in and of itself, but I know how you feel about them; I respect that. I felt the same way about Discover, but I had a change of heart after I realized the importance of even being approved for one of their accounts.

I closed my account because they cut my $1k limit to $500. Now that's insulting. Basically, they're telling me that I have $500 more than I should in available credit when they have customers with limits up to $50k. $500 isn't going to make a difference to them so why reduce it? The did a F/R on my account before my first statement closed last February. I had the account open for only 3 weeks and they suspended my account without notice and asked for my tax forms like I was cheating on them or something. I used it quite a bit put I paid it off in full so I don't know what they were thinking.

Its not a top priority or a card I am just dying to have, like I said, it would be more for satisfaction and diversification. I would cut it up immediately after I received it and just use it for one recurring charge, like my cell phone. I wouldn't let my charges get high enough for them to warrant financial review, but if they decided to put me through one for my petty cell phone charges, I would respond exactly how you did, by promply closing my account, lol.

Charonh, if you really want an AMEX, apply for the BOA Accelerate Cash Rewards AMEX because it gives you 1.25% per dollar with no strings attached and you don't have to worry about the CLD's and Financial Reviews.

I would like an American Express for diversification, but I probably would only use it for small purchases.

I am so over AMEX and the rest of the creditors that follow in there principles. "Credit Profiling." How can they possibly do this and call it legal?

If I was an AMEX account holder with a flawless payment history with them, I would be going out right now and getting me a Chase/Citi/BOA card to replace AMEX and close them before they do something to really make me angry.

Mousepad has started this same story in regards to a duplicate story about

Johnson says because of his father's lessons, he scrupulously maintained his credit since college. He says he has never had a late payment, rarely carries a balance on his credit cards and has never been over his credit limit. His FICO score -- the standard credit rating used by most lenders to determine credit worthiness -- is a 764 out of 850. A score of more than 740 is considered by most experts to be excellent.

I could not find a new topoic simular, so we can take it from here. They are here to attack us, for what?

I heard and it's just ridiculous. How are you going to assume that one of your best paying customers will not be able to pay off his balance when others haven't? I can't wait to see AMEX beg for their customers to come back and use their card when the economic crisis over.