Consumer complaint received 2024-10-01
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: AMERICAN EXPRESS COMPANY (NJ)

To the Financial Protection Bureau Team, I have been a loyal American Express Platinum Card HoldeXXXX since XXXX and hold an American Express BLUE card. These accounts are crucial for my work-related travel, and I have relied heavily on AMEXs Concierge service. 

I communicate regularly with American Express and have always been diligent in managing my accounts. As an XXXX, I insist on receiving paper statements and communications from all financial institutions to keep thorough records. Digital communication and automatic payments have caused terrible issues in the past. 

I have impeccably made timely payments this year, often exceeding the minimum due. Despite a {$7000.00} XXXX XXXX  in XX/XX/XXXX, I still paid nearly {$2800.00} towards my Platinum Card to keep my accounts in good standing. 

However, on XX/XX/XXXX, at XXXX XXXX, I received an email from AMEX stating they were reducing my Platinum Card credit limit, causing me, artificially, to exceed the limit by over {$5000.00}. The due date for this amount is XX/XX/XXXX, leaving me with no time to address the issue. 

This feels like a predatory practice. AMEXs sudden decision, especially after the Federal Reserve lowered interest rates, seems retaliatory. Despite my impeccable payment history, they reduced my credit limit without warning, making it appear that I am irresponsible with my spending. 

When I sought an explanation, AMEXs response was dismissive and condescending. They sent the email before business hours ( XXXX XXXX XXXX ), blindsiding me. I went to bed with a healthy account and woke up to a maxed-out card and a demand for {$5000.00}. 

I believe AMEX is exploiting me with what looks like a fundamental policy decision. They know I can pay more than the minimum due and have manipulated facts to fit the narrative they wish to use with my account to force a large payment. This tactic feels abusive and discriminatory, possibly due to my age or XXXX surname. The tone of voice of the XXXX agents I tried to talk to supports this possibility ( I kept their names on record since they were unwilling to assist me further or escalate the issue ). 

AMEX created this problem. Framing the situation as my fault and suggesting I avoid using my credit limit is not what this problem is. I would accept responsibility and cover my accounts if I were the one to have caused them to go over the limit. I cant help but wonder how many more times they will do this in the future, like if I were to pay what they want today. Isnt this extortion? 

AMEX has not addressed the root cause of the issue. Having to pay {$5000.00} by tomorrow is an undue burden not present when I went to bed last night. 

I appreciate your time and patience while reviewing my report. I dont know where else I can go, so I urge the Financial Protection Bureau to assist me in investigating this matter and hold AMEX accountable for its predatory practices. 

Kindly yours, XXXX XXXX XXXX XXXX