Customers accuse companies of lying about reasons for adverse account changes
More and more often, I receive detailed e-mails from customers upset about credit card companies that cite bogus reasons for adverse changes to accounts. In fact, I received one an hour ago. This common story has reached a point of frequency that leads me to believe this deception is widespread.
In the most recent e-mail, a woman (let’s call her Tracy) from Chicago claims that after her credit line was reduced from $18,000 to $500 two days ago, American Express told her that it did so because she has too many delinquent accounts. Tracy obtained her credit report and everything was perfect as she believed–no delinquent accounts. Furthermore, American Express told her that her credit score was good –in the mid 700s--but she continued to get the same story about too many delinquencies.
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Greetings! I’m Kevin D. Johnson, a small business owner who has recently assumed the role of consumer advocate and internet activist. Atlanta, Georgia is my home.
Upon returning from my wonderful honeymoon in Jamaica last October, I received what I thought was an ordinary American Express bill, but to my surprise it was a disappointing letter informing me that my credit line was reduced by about 65% for a highly suspicious and discriminatory reason. Considering my excellent credit score and pristine payment history, it just didn’t make sense. However, what does make sense are the unfair and insidious policies that I have uncovered when asking why. It is time to change them.
I created this web site to document and share my challenging journey to change what is wrong, unfair, and unjust in the credit card industry. The ultimate goal of this web site is to inform consumers of ways to stand up for themselves against treacherous business practices and to educate consumers about how to improve their credit. Finally, I hope to encourage a more open dialogue with credit card companies about their policies–good and bad.
