AMEX Cuts off LONGTIME Credit Card Holders and Deletes Millions of Frequent Flyer Miles as if they never happened. CitiBank Conspiracy Involved?

Joel Grover of KNBC News revealed last night that American Express has been canceling credit cards of customers that have huge amounts of frequent flyer miles built up. The Frequent Flyer miles instantly disappear as stated in the fine print of the AMEX contract.

But then I found this article and it makes me wonder if a conspiracy is abound. Airlines use frequent flyer miles to pay Citi Group.

Here is an excerpt from that article that just screams collusion against AMEX's best customers...

AMR is in early talks to raise money from credit-card partner Citigroup Inc. by selling frequent-flier miles, the Financial Times reported yesterday, citing unidentified sources. AMR would follow at least four other large U.S. airlines in using such an agreement.

Andy Backover, a spokesman for Fort Worth, Texas-based American, and Citigroup’s Sam Wong in New York declined to comment on the report. American’s AAdvantage is the world’s biggest frequent-flier plan, with more than 60 million members.

‘Never a Question’

“It was never a question of whether American had access to liquidity from its mileage program, but when it would elect to draw it,” said Douglas Runte, managing director at Piper Jaffray & Co. in New York.

Is there any stopping this sleazy activity? Was there a conspiracy to cause AMEX frequent flyer card holders to lose their miles, then use the lost miles to pay CitiBank for their Services?