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Frequent Contributor
Posts: 335
Registered: ‎04-04-2008
0

AMEX is pathetic - another victim of CLD

I've never ever been late. My CL was $2000 at the time, never asked for increase and always played by AMEX's "preferred rules". My scores have gone up considerably since I got my Amex Costco.

 

Today my Costco Amex was CLD to $800. I currently owe around $700. I always PIF every month, now that decrease leaves me $100 limit.

 

Never thought it would happen to me because of my low initial limit. :smileymad:

 

Has anyone called AMEX to complain and received their credit limits back?

 

 

 

Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: AMEX is pathetic - another victim of CLD


Solarjuju wrote:

Has anyone called AMEX to complain and received their credit limits back?


Many have played, few (if any) have won.
 It appears they are chasing your balance. They will probably continue lowering your limit each time a payment posts. 
Here we go again...
Super Contributor
Posts: 6,026
Registered: ‎09-18-2007
0

Re: AMEX is pathetic - another victim of CLD

I am sorry to hear that and I dont understand what prompted them to CLD when you do PIF every month. I have applied for Costco Amex Biz card and waiting for the processing to complete. At this time I dont feel much good about this situation at all. I dont think I have much hope with my application.
Frequent Contributor
Posts: 443
Registered: ‎03-22-2008
0

Re: AMEX is pathetic - another victim of CLD

Since you pay in full each month, why don't you call them when you make the payment and ask about the mistake they clearly made since you are a valued customer.  Since you are using all of if not more of the limit as it is, it couldn't hurt to ask them for an increase back up to the 2k, especially since you do pay in full.

Current:
TU (5/14/14): 796 (Inquiries; 8/23/13)
EQ (3/23/14): 791 (Inquiries: 8/23/13)
EX (9/24/13): 780 (Inquiries: 7/2/12; 11/20/12; 7/30/13; 8/23/13)

Goals: No new inquiries for 2014, 800 for all CRs by 12/31/14
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
0

Re: AMEX is pathetic - another victim of CLD

No such thing as an AMEX valued customer.  
New York Yankees - 2009 World Series Champions. 27... and counting.....
Moderator Emeritus
Posts: 16,375
Registered: ‎03-12-2007

Re: AMEX is pathetic - another victim of CLD


Solarjuju wrote:

I've never ever been late. My CL was $2000 at the time, never asked for increase and always played by AMEX's "preferred rules". My scores have gone up considerably since I got my Amex Costco.

 

Today my Costco Amex was CLD to $800. I currently owe around $700. I always PIF every month, now that decrease leaves me $100 limit.

 

Never thought it would happen to me because of my low initial limit. :smileymad:

 

Has anyone called AMEX to complain and received their credit limits back?

 

 

 


 

Do you know your current FICO scores? How do your non-Amex accounts look?
Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Valued Contributor
Posts: 1,291
Registered: ‎02-26-2008
0

Re: AMEX is pathetic - another victim of CLD

Now that they've been bailed out, they don't need profitable customers anymore! :smileytongue:

On a more serious note, sorry to hear about your CLD. They are coming on pretty strong with them lately.
Established Contributor
Posts: 672
Registered: ‎07-05-2008
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Re: AMEX is pathetic - another victim of CLD

Has there been any change in your scores recently? I'm sorry, but thus far the vast majority of people receiving CLDs have mismanaged their other accounts causing their scores to drop. It's basically American Express's way of practicing universal default, they simply forego the rate hike and reduce your CL instead.

 

Yes, it sucks. Yes, I'm waiting for my AmEx TE CLD and it'll tick me off. But that's the risk I take having a card with them. I have been careful to treat not only my AmEx very well but my other cards as well, to avoid this very situation. Basically I'm just sitting under the covers chanting, "Pay early, pay often. Pay early, pay often..."

 

The reason I use American Express is still the same as always. Great responsiveness from customer service, great warranty and fraud protection on purchases and great rewards. You may say that all of these CLDs are a sign of poor customer service. Desperate times call for desperate measures. I'd rather have them adopt an aggressive strategy to reduce their risk than have them go under or lay off massive amounts of employees or cut back on service. Fortunately, none of the above have happened. Everyone's tightening their belts. If you PIF every month and you had only charged $700, maybe that's all you really need right now? What does it matter anyway if you PIF every month?

 

Sorry to hear about the CLD anyway. Here's to hoping everything turns around soon and we can all get our generous CLs back. 

Established Contributor
Posts: 640
Registered: ‎03-28-2008

Re: AMEX is pathetic - another victim of CLD


jaybird201 wrote:

Has there been any change in your scores recently? I'm sorry, but thus far the vast majority of people receiving CLDs have mismanaged their other accounts causing their scores to drop. It's basically American Express's way of practicing universal default, they simply forego the rate hike and reduce your CL instead.


I think that ("mismanagement" of other accounts) may have been the case not so long ago, but now it seems like anyone getting a CLD from AmEx is just as likely to live in a zip code with a high foreclosure rate, or to have their mortgage serviced by Countrywide, or any one of the other things AmEx can't stand. It sucks, and like you, Jaybird, I'm just waiting it to be my turn to get a CLD. 
Solarjuju... I'm sorry about the CLD, it sounds like you've been doing everything right and STILL that's not good enough for AmEx. 

 

EQ: 723 / TU: 760 (August 2009)
Senior Contributor
Posts: 3,682
Registered: ‎01-10-2008
0

Re: AMEX is pathetic - another victim of CLD


jaybird201 wrote:

 I'm sorry, but thus far the vast majority of people receiving CLDs have mismanaged their other accounts causing their scores to drop.


that may be where they started some time ago.  not anymore.  now thousands of customers have received CLD's with no score decrease or 'mismanagement' of accounts.  unless you consider idiocyncratic amex 'rules' that not every one really knows about (like carrying a balance for 4.5 months instead of 4 or having the wrong mortgage company or living in the wrong zip code) 'mismanagement'.

 

currently many CLD targets have not paid late and not gone over the limit on their accounts.  that's the sad part.

 

OP i'm glad to hear you have a PIF pattern because that seems to be our one recourse from this rather messy approach to customer relations.  PIF and move on.  some say they like those who play 'hard to get' so pay and get packing until they realize they got the wrong one (again). 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
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