Credit Eligibility Lost

Credit eligibility lost or why credit card offers are canceled

American Express is canceling on some of its best credit card offers without a reasonable explanation? Is it thinkable with such a big and significant credit card company issuing credit cards for different credit consumer categories and deriving great revenues from their credit card use?
It's hard to believe but the fact is as such - a number of American Express credit consumers are being forced to provide the bank representatives with a heap of credit documentation (job verification statement, credit reports and tax returns for the last years), otherwise their credit card account will be closed.

Are you getting nervous about your AmEx Blue Cash or AmEx Business Gold Rewards Card? You needn't unless you are of Pakistani or Muslim origin as these are the ethnic groups being exposed to such a drastic measure. The most annoying fact about it is that you have your account closed even if your credit history is from good to excellent.

We've received quite a number of complaints from representatives of Muslim and Pakistani, telling us about their AmEx credit card cancelled without a proper reason, that is when they did not provide the papers needed. When they tried to get some little explanation from the bank, especially if they requested to provide it in written form, the bank reps either refused or said the credit documentation was necessary for security measures.

But that isn't an explanation enough, is it? So, the customers denied the demand and soon lost accounts on their good-to-excellent credit cards.

Though the American Express company is offering a more or less plausible interpretation of their policy, it sounds ridiculous in the light of canceling good or excellent credit cards. On our part, we suspect there's another thing behind their action.

Hold your breath. The bank is probably discriminating against ethnic minorities in the country, confronting the Bank of America's plan to issue credit cards for immigrants from India and Pakistan and supporting Americans' outraged feelings about that.

It's not for nothing that the Bank of America is losing major part of its customers. Providing credit access to illegal immigrants considered as ethnic minorities in the country, the bank is contributing or at least supporting terrorism that is acquiring a greater than ever scale today.

It doesn't matter to American Express though, whether or not you're legally in the country. If you refer to an ethnic minority group with either a Muslim or Pakistani name, you good credit card will be cancelled.

Our research showed that of all the American Express customers only the portion belonging to the Pakistani credit consumers have been requested to provide documentation and have their cards cancelled.

Whether this measure is worth the candle or is likely to bring positive results is rather doubtful. In fact it is like a doubled-edged sword action as it certainly will not eliminate terrorism but will probably lead to protest and demonstration the outcome of which is unpredictable.

For the time, the American Express Vice President refuses to give a full picture of any case of credit canceling, referring to the company's security and consumer protection rights policy. But he insists that the bank, as the credit card issuer and thus the term and condition setter for each credit card offer, has full permission to ask for additional information to get a better picture of the creditworthiness and credit status of the customer.

Well, it is evident credit card companies and other financial institutions are getting concerned and cautious about whom they are doing business with. But the measures like the one American express is taking shouldn't be so tough and offensive until well-grounded. As yet, credit card canceling with Muslim and Pakistani origin citizens' accounts is not well and reasonably explained and it isn't a fair game...

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