American express just sent me an email today telling me my credit limit had just been reduced from 10K to 2K. They gave me no advanced notice at all. They just reduced my balance. I immediately became alarmed because I had just signed up several bills to be payed by my American Express card and I was already nearing my 2K balance. I could easily go over my balance and be charged a terrible fee. So I called customer service and all I got was a robot who repeated to me that the reduced limit has gone into effect immediately and they had just sent me a letter. No help at all. I couldn't believe that this company who I had come to respect was now treating their customers so horribly.

They had already raised my finance charge and I just accepted it because I knew all banks were doing this. But this recent happening is reprehensible. They could have at least given me a common courtesy of advance notice. I am so angry at them... I will never view this company the same again. Obviously, they no longer care about their customers.

if you read the service agreement they have they reserve the right to lower your limit without notice, it is a shame though they always seem to do things like that at the wrong time