Monday, Mar 09, 2009
Jones was baffled. An Amex cardholder since 1989 and can't remember being late on a payment.
Microsoft National Broadcasting Company: Don't Leave Home; Your Credit Card is on Hold
That's exactly what happened to Cathy Jones, a businesswoman with three Amex charge cards. She got a call from Amex last week saying her cards were now on hold, while the company did a financial investigation to make sure she could pay her bills.
Jones was baffled. She's been an Amex cardholder since 1989 and can't remember being late on a payment. So, to get some answers, Jones and I got on the phone, and called the customer service number on the back of her card.
An Amex representative in New Delhi, India, said because of the bad economic times, American Express is now doing financial investigations of thousands of cardholders. The rep said Amex is insisting these customers fill out an IRS form 4506-T, authorizing the company to get their tax returns for the last three years.
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1. Mansmoking said...
This is the start of the end to credit lending