Update: April 28, 2006 - I received a call from Ms. Jean Kanstroom, Executive Assistant to Mr. Kenneth Chenault, Chairman & CEO of American Express Company. I posted our conversation below in the comment section of this writing. The issue is resolved.
April 21, 2006
American Express Company
Mr. Kenneth Chenault, Chairman & CEO
200 Vesey Street, 51st Floor
New York, New York 10285
Mr. Chenault:
I, Fred Nance Jr., am writing this letter addressing the temporary suspension of my business account with American Express. To protect the confidentiality of my account, I cannot put my account number on this letter.
On April 21, 2006 I received a call from Ms. Van Levvan at 10:25 am reporting my business account is temporarily suspended. I spoke to her immediate account supervisor, Ms. Mitchell. I spoke to Ms. Cummings, a team leader supervisor, who informed me she was above the account supervisor. Later, I spoke to Mr. Thompson, who reports he is a supervisor. These individuals informed me my spending level had increased, and until I pay my balance down my account will be suspended.
I have been a member with American Express for 6 years. I presently owe a total of around $1,750.00. I explained the following to everyone above: I received an invoice on or about April 18, 2006 at approximately 5:30 pm (CST) for $729.56. This invoice reports my due date is April 29, 2006. On or about April 18, 2006 at approximately 10:00 am I used my business card for a down payment of $1000.00 to purchase an automobile from Toyota. This $1000.00 will be posted on my May 14, 2006 invoice stating a due date of May 29, 2006. I receive a monthly employment check from which I pay my bills. This employment check is issued on the 3rd business day of the month. I have never been in default with monthly payments to American Express. I was late with payments between May and September of 2005 because of unemployment. Nevertheless, American Express was paid.
American Express representatives above report your policies dictate an analysis of spending habits to assess a customer’s possible allowed limit. The representatives also report this is illustrated in the American Express policies received by each customer. This may be true. I am not disputed you have this policy. The policy appears to be rigid. Where there is no gray area for customers who do not exceed their “assessed” spending limits regularly.
Personally, I want you and your board members to understand some of us know our limits. Those who know their limits, with American Express, illustrate this when they make their payments. Experiencing financial difficulties with the assistance of Chicago Mortgage Acceptance Corporation (posted on my website) leading to lower credit scores, I chose American Express as the only credit card I wanted to keep because of the debt I have incurred with other credit cards. I kept American Express because it has to be paid every month. I made this decision to set boundaries for my family’s use of credit.
Sir, I am a social policy analyst, among my other professional disciplines and interest. I address this issue not only for myself, but for the countless others who use American Express cards. We, your customers, may not read the “fine” print in our agreements when taking on the responsibilities of having the American Express card. I understand from the conversation engaged in with the individuals above, American Express utilizes credit reports and histories of payments to assess a person’s spending habits. These spending habits are then assessed to determine what a customer will be allowed to credit. This “cookie-cutting” technique may not fit all of your customers. Nevertheless, it is your right and privilege to develop and implement the policies for American Express.
I informed the individuals above and now I inform you I will post and publish this on my website at http://clickforjusticeandequality.blogspot.com/. Your global customers, as well as your customers here in the United States, need to know the negative consequences of doing business with American Express when they have done nothing wrong. I write about issues such as this so the public can make better decisions about their social, economic and political needs. We need an informed public making decisions. Many may not read American Express’ fine print. They may read my writings.
I have a real problem with your employees calling me on April 21, 2006 reporting a policy dictating a “suspension” based on spending habits when the invoice I have reports $729.56 is due on April 29, 2006. The next invoice I receive will be due on May 29, 2006, which will be in the neighborhood of $1100.00. I also hold a personal American Express card. I am not unfamiliar with paying these amounts to American Express.
The public needs to understand we cannot do anything about your policies. The only thing we can do is try other companies to see if their policies give a better fit for our social, economic and political needs.
I will continue to make my payments in a timely fashion. I will not be able to pay the $729.56 until the 3rd business day of the month as stated above. I guess I will be considered late, and I will have to suffer future consequences for it.
Respectfully submitted,
Fred Nance Jr., ABD, MA, CADC, NCRS
Social Policy Analyst
cc: http://clickforjusticeandequality.blogspot.com/
