reviewer
MrsK08
Tulsa, OK
American Express could care less about you!
1 star rating

Every day computer user, equine enthusiast, an aggressive saver, on a strict budget, an aquarium owner, a dog lover, a cat fancier, a pet pamperer
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Cons
    interest rate is a little on high side, can only cash at costco, cant apply towards monthly statement, They will lower limit without reason

NOV
28
2008

American Express - Costco Credit Card — 

I use my card and pay it off. I like to use this card for travelling, because of the benefits. The last time I traveled with my card, I came home to find out that had my trip cost an extra $16, they would have slapped me with an over the limit fee because they lowered my limit SIGNIFICANTLY. I called and spoke to 6 different people. No one could give me a reason other than they are reviewing everyone's accounts and lowering limits wherever they could. I told them that was ridiculous the way I was notified (I actually found out when I went on their website to pay my bill, BEFORE I received anything in writing). They told me they mailed out the letter on Sunday, and that was all they needed to do. I am keeping my card until I get my rebate in February and then I am cancelling it. I am not going to let AMEX play games with my credit.



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I_comment_shdw24 Comments about MrsK08’s Review

 


MrsK08 wrote on Dec 4, 2008 at 12:50PM

In response to alexwalker's comment from Dec 4, 2008 at 4:59AM:

Actually, the only thing that changed in my credit (from the time they gave me a credit increase to the time they gave me a credit decrease) is that the score went UP an average of 50 points among all three bureaus. I know this because I subscribe to a monitoring service and pay close attention to changes and pull all three reports myself every month. No negative info was posted. And I called, spoke to 6 people before I got a supervisor. They do not know why it was changed but their decision is final. I can have them review my account/credit in 12 months if I would like, but that is it. Maybe it is because I have only had my account less than two years? (even though I have never been late). And I don't normally carry a balance unless I use it for reimbursable expenses and still waiting for the check when the bill comes due. Even then, my balance never carries for more than a few weeks. I did have a balance when they lowered my score though (but not much).

alexwalker wrote on Dec 4, 2008 at 4:59AM

You must have done something to affect your credit report/score to cause the change in your spending limit. American Express most likely would have waved the limit fee if you told them you are going to cancel the card because of the fee. American Express does treat people differently depending on years of membership, which card(s) you carry, and your credit report/score. My limit is more than I make in a year. And they have waved fees for me the first time I ask.

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