After being a customer of American Express for more than 20 years, the company recently decreased my credit limit from $40,000 to $6000 because of one late payment. As a result, my total credit utilization went from 50% to 94%, causing a 70 point dip in my FICO credit score. Hi complain to customer service politely pointing out that I’ve been a member for more than 20 years and that I paid them more than $70,000 interest over those 20 years and they remained in flexible. I have $1000 balance on my card and will pay it off in the next month and promptly cancel my account because of this awful companies business practices.
