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AMEX set 3k limit on green after FR

Valued Member

AMEX set 3k limit on green after FR

So few weeks ago, AMEX decided to FR me. This is their decisions after, anyone have any experience with this? and anyway i can lift the limit? I have a 5k limit on chase freedom right now. And I pay my bills in full for all my cards monthly. Thanks for any answers/advices.


We have placed a spending limit of $3,000.00 on your account. Please be aware that once the outstanding balance on your account reaches this level, we will not approve any charges above this amount. The limit is for total spending on all Cards on this account so if you have any additional Cardmembers, please ensure they know about this change. You will also receive this information by letter.

Important legal notice:

We are changing the terms of your Cardmember Agreement and imposing a Spending Limit on your Account. Effective immediately, we have limited the amount you may spend on your Account to the amount noted above in this letter. Accordingly, the paragraph of the Using the Card section of that Agreement that begins with "We decide whether to approve a charge" changed to the following. This change will remain in effect until we notify you that it is no longer in effect.

 

BARCLAY FICO: 782 12/12/14
DISCOVER FICO: 783 12/12/14
|Amex Blue $32,400 |Discover IT $28,000 |Usbank Cash+ $25,000 |Chase Freedom $23,700 |CSP $18,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |SallieMae $12,500 |Citi Costco $12,000 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Message 1 of 18
17 REPLIES
Member

Re: AMEX set 3k limit on green after FR

What promped the FR?


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Message 2 of 18
Epic Contributor

Re: AMEX set 3k limit on green after FR


gr33nsuit wrote:

So few weeks ago, AMEX decided to FR me. This is their decisions after, anyone have any experience with this? and anyway i can lift the limit? I have a 5k limit on chase freedom right now. And I pay my bills in full for all my cards monthly. Thanks for any answers/advices.


We have placed a spending limit of $3,000.00 on your account. Please be aware that once the outstanding balance on your account reaches this level, we will not approve any charges above this amount. The limit is for total spending on all Cards on this account so if you have any additional Cardmembers, please ensure they know about this change. You will also receive this information by letter.

Important legal notice:

We are changing the terms of your Cardmember Agreement and imposing a Spending Limit on your Account. Effective immediately, we have limited the amount you may spend on your Account to the amount noted above in this letter. Accordingly, the paragraph of the Using the Card section of that Agreement that begins with "We decide whether to approve a charge" changed to the following. This change will remain in effect until we notify you that it is no longer in effect.

 


You will be reviewed in 1 year and it could stay $3k or it could go up, or it could go away back to NPSL.

and I have managed an account that DID get $1k increase at year... which I know everyone wants to know about going back to NPSL... I think the more you use the card and show some high usage, pay many times... they will work with you more than if you just sock it and go with Chase...

unlike some banks that flip if you put $2k on a $300 limit... Amex is oppisite... You pay lots, they give lots!

Message 3 of 18
Regular Contributor

Re: AMEX set 3k limit on green after FR

What caused the FR? How long have you had card?
 

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Message 4 of 18
Valued Member

Re: AMEX set 3k limit on green after FR

I honestly got no idea why it was prompt, I just know one day one lady called me and told me they suspended my account and need my IRS release authorizations. I had the card since June 2012.

BARCLAY FICO: 782 12/12/14
DISCOVER FICO: 783 12/12/14
|Amex Blue $32,400 |Discover IT $28,000 |Usbank Cash+ $25,000 |Chase Freedom $23,700 |CSP $18,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |SallieMae $12,500 |Citi Costco $12,000 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Message 5 of 18
Valued Member

Re: AMEX set 3k limit on green after FR

They still put me on suspension... like half of month already.
BARCLAY FICO: 782 12/12/14
DISCOVER FICO: 783 12/12/14
|Amex Blue $32,400 |Discover IT $28,000 |Usbank Cash+ $25,000 |Chase Freedom $23,700 |CSP $18,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |SallieMae $12,500 |Citi Costco $12,000 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Message 6 of 18
Regular Contributor

Re: AMEX set 3k limit on green after FR

Not to sound antagonizing but why would Amex FR a user out of the blue? Are you omitting something out of the story? I doubt Amex would out of the blue say “hey let’s pick a random member who has an excellent record and FR them”. In order for Amex to use their resources I think they would first have a reason. Are you getting divorced, had previous COs, late payments, etc?

 

I read this a lot on the boards: 'CardXYZ lowered my limit, closed my account, etc' but I been PIF every month for the past 7 months. And then after asking them a bunch of questions, yea I missed a payment but still I been 7 months.

 

There's a reason why some get on the Mod Cut of some companies.

 

Memeber you're a victim of identity theft.

 

In any case I would demand WHY before releasing any IRS information. Mod Cut

Starting Score: EX: 736 FAKO | TU: 757 FICO | EQ 730 FICO
Current Score: EX: 736 FAKO | TU: 750 FICO | EQ 730 FICO
Goal Score:     EX: 750 FICO | TU: 750 FICO | EQ: 750 FICO
In my wallet:  $16,000  $8,000
Message 7 of 18
Epic Contributor

Re: AMEX set 3k limit on green after FR


HenryJumbo wrote:

Not to sound antagonizing but why would Amex FR a user out of the blue? Are you omitting something out of the story? I doubt Amex would out of the blue say “hey let’s pick a random member who has an excellent record and FR them”. In order for Amex to use their resources I think they would first have a reason. Are you getting divorced, had previous COs, late payments, etc?

 

I read this a lot on the boards: 'CardXYZ lowered my limit, closed my account, etc' but I been PIF every month for the past 7 months. And then after asking them a bunch of questions, yea I missed a payment but still I been 7 months.

 

There's a reason why some get on the s'list of some companies.

 

Memeber you're a victim of identity theft.

 

In any case I would demand WHY before releasing any IRS information. Not even Mitt Romney is so willing to release IRS information so easy.


Talking about other bank CLD or Closing accounts or what not is VERY different from Amex and FR.  I have not really been very positive towards the FR threads in the past because they then cause these 50 other posts about "I'm Scared to use my card" "Where can my first purchase be" "I used my car 5 times today, I hope I don't get FR"

 

I think and hope that the one thing we can agree on is this is "Random" by Amex computers... I don't believe ANY purchase, Location, Bar, Walmart, Country travel, etc. will be the cause... I say this now 5-7 years into coming to MyFico and what accounts have been FR... Now the exception to the rule is if you got FR last year and close accounts instead of giving them the info, then come back this year and start applying and opening, they will come back and ask for FR again (Concorduser is good example... but have not seen him post in long time)

 

I believe even more it's random because look at something like the charge card... I have seen people that were capable of charging over $100k only to find a payment returned or a payment made 10 days after due date which Amex will tell you "You can do" as part of grace period and I do believe some can but when you are up in that kind of spending, it matters that you couldn't pay on time... I have seen a card like that then get hard limit at about $10k... Now if Amex wants to take you from $100k to $10k in 30 seconds, how and why would that account not be a better option to FR vs. an account that was just opened or an account that someone spent $500 for 2 months, then spent $5k but paid before due date... 

 

Message 8 of 18
Established Contributor

Re: AMEX set 3k limit on green after FR

This kind of stuff is why I shred all the applications AMEX sends me.  They are way too tough on cardholders.


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Message 9 of 18
Mega Contributor

Re: AMEX set 3k limit on green after FR


lithium78 wrote:

This kind of stuff is why I shred all the applications AMEX sends me.  They are way too tough on cardholders.


Not really.....

 

As long as you don't go overboard spending and create a respectable spending pattern in comparison to your AI you report on your application they pretty much leave you alone.

 




EQ FICO 548 3/3/16
Message 10 of 18