AMERICAN EXPRESS Not exactly a ripoff, but a warning to others. Ft. Lauderdale, Florida

I have been unemployed for a year while caring for my ill daughter. Despite my best efforts I have been unable to find much work that I can do from home. Then, out of the blue, my old employer offered me work via telecommuting. Yay! I needed a new computer to handle the large files I have to process, so I took my last $800 from savings and made a large payment to my American Express card. The card pays 1% of purchases toward a savings account (every little bit helps). I transferred the money over the phone. By the time I got to Best Buy (later that day) my credit limit had been reduced to within a few dollars of my new, lower balance!  I sent off a quick email to AmEx, explained the issue and asked them to reconsider. I have had that account for 5 years, have never gone over the limit, and always paid on time, and paid more than the minimum.  Their excuse was "my poor credit". Well, the only bad thing on my credit report is that my house is going into foreclosure. It just can't be helped. But I've managed to keep current on all other debts. I sent another email, and explained that, thanks to them, I had just reached the end of my rope and was going to file bankruptcy. Frankly, it's a relief.

Today, (9 days later) I received a call from a collection agency who said they were representing AmEx and wanting me to make payment arragements. Apparently, AmEx closed my account. I guess I'm not really surprised. Perhaps it was the comment I made about their underwriters cowering under the desks trying to figure out how they could justify screwing someone who paid their bill every month. Not sure...

In any event, the Indian woman used up 38 of my "day" minutes (which are NOT unlimited) trying to convince me I needed to accept one of three offers - immediate payoff of a lesser amount, a 12-month payment plan, or monthly payment arrangements. I told her I wasn't ready to make that decision and she should send me something in writing. No can do. I was supposed to take her word for it that the "letter of satisfactory payoff" would be forthcoming, and that my credit report would remain untarnished. I told her I would make my normal monthly payment on the 1st (as always). Note - I am NOT behind on my payment, and she did acknowledge that. But she demanded an immediate payment in "whatever amount I could handle. I told her I didn't have it because I don't have a job. So then she asks, "Well, if you're unemployed, how are you going to make the payment on the first?" I told her that wasn't her concern and then things got uglier. It obviously wasn't going to be resolved so I eventually hung up on her. I tried really hard to be polite, right up then.

I wish I knew the name of that company - National something...

Just wanted to warn others that AmEx is screwing people too. I understand they have a legal right to lower my limit and close the account at will. But to sic these collection people on me was uncalled for. I know that eventually things will turn around for me and that I will once again be in a financially stable position. Guess who won't be getting my business?