Amex Stole $35k/m From Me...

As I rolled out of bed, I looked out of my window at the rain

I opened my eyes and grabbed both of my phones.

First I grabbed my personal phone and saw a message from one of the girls I had been talking to.

"hey zack. hows life?"

I was lowkey too tired to respond at that moment so I grabbed my other phone.

I had 3 missed calls from 1 800 529 2122

I get hella spam calls so I didn't think anything of it.

Then, I went to scroll my email and see if anything urgent had popped up.

The following email stared at me through my inbox:

AmEx sent me an email saying they were shutting down all of my accounts until further notice.

So I did what any normal human being would do.

I dialed them up.

And of course, an indian dude that had no clue what the hell was going on picked up.

So I hung up and called back 3 more times until I somehow managed to get ‘Merican named Gerald.

Gerald informed me that the email was in fact correct: all of my accounts are shut down until I get document from the IRS (which takes an average of 2-3 weeks according to them) for “no reason on file”

So after almost a week, I still cannot use my Amex.

I ended up getting other credit cards so ya boy is chilling.

But it doesn’t stop the fact that a large corporation decided one day to randomly keep my business from running.

35k/m in spending that I cannot use my AmEx for now.

It’s no different from Facebook shutting your ad accounts down and banning you from running ads (happened to us last week as well.)

This has happened to me many times over the past few months and I have learned two lessons:

Lesson 1: Don’t ever fully trust anyone. Anyone can turn on you in the blink of an eye. Over relying on someone/something/some company is the easiest way to ruin your business forever.

Lesson 2: These big companies have leverage but they over use the leverage to the point where they miss out on a ton of business. If you want to extract as much cash as possible from a business, you need to take the friction away.