American Express Centurion

Amex Smoke and Mirrors – I have been with amex since 1988. From a gold card to Centurion (black) always in good standing. I recently found out that a past tenant of mine had connected the electricity at the property in the landlords name (me) and had skipped on the bill, it seems you don't even need id or sign anything to open an electricity account Unfortunately this… Read more

has earned me a default on my credit, but I am working on that and the police are involved,

Here's the rub. American express heard of the default and suspended my Centurion account for 6 months, no questions asked.

It was very embarrassing finding out when the card was declined and you don't have another card to cover your purchase (we don't have Visa or M/C). I really thought amex was better than that.

They pay a credit reference agency to report on any amex card holder that has any reported credit problem and cut them off instantly, no questions asked and without referral to the card holder.

At $5,000 per year just for the card it is a really expensive suspension, particularly when I am not receiving the services that were paid for.

It seems there is no refund because they then sent me a bill for another $5,000 for next years annual fee whilst still suspending my account.

The card holders track record does not mean much to amex,

Amex call themselves responsible lenders; I don't see it as responsible at all, 27yrs in good standing and they suspend you over a fraudulent electricity bill.

End result is I am out of pocket $2,500 in services and $2,500 in cash I paid for services not received, and have to pay another $5,000 to retain my suspended account

A Centurion card (Black) costs $5,000 start up fee plus $5,000 per year annual fee with very little differences in benefits to the platinum card except for the "exclusivity" and boost to your ego.

American Express are expert at pandering to your ego, and including perceived benefits to help bolster the card costs, and I must admit it worked on me - until I had this experience and found out how "valued" a customer I really am.

After much letter writing to and fro with no resolution in sight I decided to cut my losses and have not renewed my card (I am taking my wife on a cruise with the savings). We now use a Visa debit card.

I know several other Centurion card holders and as a result of my treatment by amex are reconsidering their $5,000 per yer membership.

If you are "invited" into the exclusive world of the American Express Centurion membership, ask yourself if it is worth $30,000 in fees just to boost your ego for the next 5 years? plus the extra savings in not having to pay a surcharge almost every time you use he card.

Ironically, American Express have provided me with a letter (whilst my account was still suspended) in support of my claim about the electricity bill confirming that I had not been at the other address for at least 5 years prior to the time of the event.