I can only join in with the sentiments of the rest of the posters. Just the mention of American Express's name conquers up negative emotions for me. My lack of respect for this company is stronger than I have ever had for any company I have ever done business with. I would absolutely want to throw a gigantic party the day it is announced that the have gone out of business... and I believe they will because of the way they have walked all over people.

I have a credit score of 730. I have had one of their credit cards since I was old enough to work and my Dad signed for me to get my first card when I was 18 years old. After several years of good responsibility with the card and advancement in my career, they offered me a card in my own name. I have carried that card for over 25 years and was their biggest defender if ever someone said something negative about them.

Then.... I lost my job due to no fault of my own. I immediately contacted my creditors to advise them and tried to negotiate terms with them to let them until I could find another job. I valued my 25 year relationship with American Express, and my desire was to pay my bills as I had my entire life. I'm a single person with no savings and trying to survive off unemployment benefits, yet I've done without to pay my debts while I have been unemployed. Despite my excellent credit history and 25 year relationship with them they were extremely rude, heartless and totally unwilling to make even one adjustment like changing the due date on my payments. They did absolutely nothing despite the bailout money all these banks got. I later found a web article from the National Credit Counseling Service stating that American Express was one of the top creditors that had responded to the "Call For Action" to do something to help people that were unemployed in this economy due to no fault of their own. Despite what they were telling the public, they were like pit vipers when I called them and they would not do ANYTHING whatsoever to help me keep paying until I could get a job. Instead, they waited until I was 1 day late and raised my interest rate to 27.9% which priced it right out of my ability to pay them any longer. When I called to tell them that unless they brought the rate back that I could no longer make payments the CSR said that's fine, it is only going to hurt you not us.

The emotional stress of being unemployed in the worst economy since the depression is hard enough without having a company like this to make you feel like a low life dead beat.

I carried two other credit cards. One with CareCredit for dental expenses not covered by insurance and the other was Bank of America. While I have had negative experiences with Bank of America, I have more respect for them in their treatment of the unemployed. When I called them about my situation they immediately responded and put me on a payment plan that lowered my interest rate and reduced my monthly payments. CareCredit also did the same.

I WILL NEVER.... REPEAT NEVER DO BUSINESS WITH THEM AGAIN AND I WILL SHARE MY EXPERIENCE WITH ANYONE WHO MENTIONS THEIR NAME TO ME. I have an uncle that has a prominent business in the North and he absolutely refuses to accept their cards anymore. There are many horror stories in my circle of friends (people making 6 figures) and American Express has treated them poorly also in cutting off cards and reducing credit limits and jacking up interest rates.