I have been a customer of American Express for 30 years. They also cut my line by 80% without any warning. I always paid my bill in full, however, after being laid off in December, I decided to make minimum payments to maintain my cash flow, until I got my next job. During this period I was late paying my bill once--by three days. As a result, American Express jacked my rate up to just under 30%! What the heck? This is how American Express thanks loyal customers of 30 years? This card is in a drawer now--guess what AMEX, my Mastercard works pretty well too, except, of course, not at Costco, where AMEX has a monopoly. American Express is truly a fair-weathered friend.