when their deal with Costco ended because it meant that I could get rid of my AMEX cards. I too see long-term struggles. They didn't help themselves by slashing the credit limits on those customers you described who were able to get a card simply by eating and breathing during the last recession. There are numerous stories of people who were making their monthly payments just fine who then had their limits slashed and were told to pay up due to AMEX's overexposure. Personally, I've never had a problem with them, but as a vendor refuse to take them. Our accountant charges us for each business card over 2 so it doesn't make a lot of sense to keep them. They've recently doubled my credit limit which makes me think they are really hurting and are trying to retain as much business as possible.