American Express - Notice of Termination

ESFREF

I have received an unexpected letter from AMEX's "Debt Collection Department" regarding a "Notice of Termination" for my credit card.

I have made the minimum payment for at least the last 3 years (I did miss a couple of payments before then) - but they say they have issued a "Notice of Default" on me - but I have never received this, and have no idea what it could relate to.

They are basically saying that the whole balance is due immediately (which I can not afford - circa £1350), and they may pass it to a debt collection agency.

I do (for my sins) have a catalogue account with another firm (JD Williams), which I had been in default with a couple of times due to cash flow issues but I have taken steps to rectify this now - I don't know if this has anything to do with it?

I am in the process of writing them a letter - but before I do - I would be grateful for some advice on the best way to deal with this.

Thanks

InsideInsurance

Why not pick up the phone and ask them? Much quicker than writing a letter.

ESFREF

InsideInsurance wrote: »

Why not pick up the phone and ask them? Much quicker than writing a letter.

I always prefer to put things in writing, then I have documentary evidence of what has been said. I have been caught out before by using the phone, and companies backtracking on what they have actually said to me - so if I can get a written response (or an email response) then I do prefer this.

InsideInsurance

Ultimately you can do both, phone and write

Felix_Schalyz

ESFREF wrote: »

I have received an unexpected letter from AMEX's "Debt Collection Department" regarding a "Notice of Termination" for my credit card.

I have made the minimum payment for at least the last 3 years (I did miss a couple of payments before then) - but they say they have issued a "Notice of Default" on me - but I have never received this, and have no idea what it could relate to.

They are basically saying that the whole balance is due immediately (which I can not afford - circa £1350), and they may pass it to a debt collection agency.

I do (for my sins) have a catalogue account with another firm (JD Williams), which I had been in default with a couple of times due to cash flow issues but I have taken steps to rectify this now - I don't know if this has anything to do with it?

I am in the process of writing them a letter - but before I do - I would be grateful for some advice on the best way to deal with this.

Thanks

Perhaps they've pulled up your credit file and realised or seen the Risk attached to you after learning you struggled to pay back a catalogue.

Cell

They might cancel the card, or cut the credit limit or even increase the APR as a result of a credit review, but default? Surely not, because on the face of it you haven't defaulted.

I'd ring them first before it escalates into something nasty. You can always follow it up in writing after the call, but letters can take ages to get dealt with.