MyPillow CEO Mike Lindell has claimed that American Express’s decision to reduce his company’s credit line has severely impacted its operations. Lindell stated that the credit line was suddenly reduced from $1 million to $100,000, without any explanation or reason. The reduction in credit has crippled MyPillow, according to Lindell, and he is seeking help from the public to overcome this challenge. American Express spokesperson declined to directly address Lindell’s claims but stated that their customer decisions are not influenced by personal views or political affiliations.
This is not the first time Lindell has faced difficulties with credit for his company. In 2022, he was terminated as a client by the Minnesota Bank & Trust after being labeled a “reputation risk.” Lindell’s strong support for former President Donald Trump and his promotion of groundless election fraud claims have had a significant impact on his business. In July, Lindell even auctioned off equipment from his pillow factory in Minnesota after facing more than $100 million in retail sales losses.
Lindell is also currently dealing with billion-dollar defamation lawsuits from Dominion Voting Systems and Smartmatic over his claims about their involvement in the 2020 election. These legal battles, along with the credit reduction from American Express, have put MyPillow under significant strain. Despite reaching out to the public for support, MyPillow and American Express representatives have not responded to requests for comment.