This did not happen to me.
I don't have an American Express credit card.
But a colleague of mine does. Her husband is a physician who flies all over the world setting up temporary emergency hospitals, particularly in third world countries.
They use their American Express card alot. They tend to charge several thousand a month, particularly in airline fees for which they are reimbursed.
They have never been late with a payment. They are nowhere near their credit limit.
Yet this past weekend, my colleague received a telephone call from American Express demanding an additional payment (she had just sent in a payment the prior week) or their card would be suspended.
When she objected and pointed out their excellent payment record, she was told that American Express was calling on many of their "good" customers to make additional payments.
My first thought was that this was a scam, but my colleague called American Express this morning, and verified that the weekend call was genuine, and so was the threat to suspend the card.
I'm just amazed that this could possibly be legal.
What is going on? Fall-out from the credit freeze? Credit card companies running scared?
All in all, it seems foolish of American Express to tick off their "good" customers. And my colleague is plenty ticked off!