[Ivyrock]

I have read previous posts regarding American Express Care program. When the economy took a down turn, my credit was lowered for my business. We were used to charging up to $45,000 monthly and paying it off. We also had a revolving credit of $4,500. Our limit was lowered to $4,000 in November. We then had to pay our monthly bill plus now not recharge as we had been doing at our slowest time of year. Then with the economy taking a downturn our business was nonexistent not slow. We continued to make our payments, but found that it was a struggle and we were presented with the "Care program". It was explained that as long as I made payments of $750.00 till September I would have my account and there would be no interest. I made my payments faithfully and on time every month and earned the money to pay the balance as agreed by September. I went online to make the payment as I had been doing in the past and couldn't log on. I called and they said I was canceled. She explained that as soon as the payment went through I would have my card reinstated. It went through and now they are saying it went to collections and is considered a charge off and went to collections. I feel duped! Any help out there. My credit score is hurting from this and I hate to say I really loved the convenience of my Amex card. I like it because you pay it off monthly and I use the rewards points for my employees as perks. HELP.

[laureld322]

I had a similar problem with AMEX. I also joined the CARE program under the impression it would not negatively impact my credit score, nor my cardmember status. I paid off the balance early by overpaying each month. Unfortunately, during this time they cancelled my account (the same month as I had my membership fee charged!) and put a "KD" on my account-- as a charge-off. None of this SHOULD have happened. Meanwhile, I have yet to get any written explanation as to why my account was cancelled. I am in the process of trying to get my credit report cleared up (this is the only negative thing on my report!). As someone who has been extraordinarily frustrated with this whole process -- I wanted to let you know that you're not alone!

[MomLuv5]

I just tried to log in to my AMEX account... CARD CANCELLED. I am in complete shock. Never been late with a payment, used card for my small struggling business.. but still I paid more than miniumum each month. First they drastically lowered my line of credit... then they demanded I FAX over my TAX forms... of course I refused. I feel as though I am being targeted for no reason. I am an excellent customer. What in the world is going on? Why are they targeting good customers with no credit problems?