Don't leave home without it. On second thought, do.

American Express likes to tell folks not to leave home without it. But for many customers, it no longer makes much of a difference.

The credit card giant is now placing a hold on many customers' cards without warning - even customers who have had American Express cards for years and have never been late with a payment.

As you might guess, while a credit card is frozen, it's no good.

While American Express freezes customers' cards, it asks these customers to fill out an IRS form to get their tax records going back 3 years.

Corporations are asking for tax records now? Why??? Is this even legal? It sounds like a sure route to identity theft to me, since the records also include Social Security numbers. Bear in mind that these tax records are going overseas where American authorities have a harder time keeping track of what happens to them.

American Express has warned customers that if they don't allow their tax records to be released, their credit cards will be canceled for good within 5 days.

You'd think American Express would want to keep every customer it can, but I guess not. Maybe the company is going after customers who pay their bills on time because these customers aren't Making much Money for them.

(Source: http://www.nbclosangeles.com/news/local/amexholds.html)