I was informed over a month ago that amex was closing my loc on 6-18 -02.Today I open my mail and there is 20 new loc checks from amex.What are they doing,or don't they have a clue? I already destroyed the last loc checks LOL.
Don't use them - they will return them (based on my phone conversation with a CSR a few weeks ago). Amex Bank has decided to exit the LOC business. Bummer.
CHECKS are mailed by a 3rd party (usually)...and they might have been printed 3 months ago and just saved till the REQUESTED mail date...
The strange thing is the old checks are listed as Membership Banking,and the new one's as One Financial Account?
Me and wife both got this LOC..Mine was maxed just about ecept for maybe $400 only becasue the intrest is low.,But anyways hers had quite a bit avaible still..I got that letter and she didnt.I think they are weeding out the people who use it to much.
Here's the link to Amex's new "ONE Financial". It's a brokerage-checking-LOC combo account. It says, "Use overdraft protection to get a quick and easy loan": http://finance.americanexpress.com/sif/cda/page/0,1641,15196,00.asp Saar
Update: Just talked to them. They said some customers got "One Financial" checks, but those were sent in error, because their account would still be closed - not converted. You better call them & talk to a supervisor to make sure. Saar
Re: Update: On a different note, I understand that the LOC's were being closed in two batches. The second group was (is?) supposed to get the notification letter sometime this month. Has anyone gotten a letter so far this month? I ask because I've not received any correspondence from Amex in quite some time and I just wrote a check for about 95% of my credit line. I'm a little worried that it's going to bounce. RM
