Reply
Valued Member
Posts: 45
Registered: ‎07-06-2012
0

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 This change will remain in effect until we notify you that it is no longer in effect.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
Chase Freedom $23,700 |Chase Ink Plus $22,500 |Amex TrueEarnings $20,000 |Usbank Cash+ $20,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |Discover IT $14,500 |SallieMae $12,500 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Member
Posts: 8
Registered: ‎11-01-2010
0

Re: AMEX set 3k limit on green after FR

What promped the FR?


Starting Score: MyFico: EQ 622 (3/2012)
Current Score: MyFico : EQ 734 - TU 741 - EX 747 (11/2014)
Goal Score: 750+


Take the FICO Fitness Challenge
Epic Contributor
Posts: 25,218
Registered: ‎10-23-2007
0

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!

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Regular Contributor
Posts: 118
Registered: ‎06-10-2012
0

Re: AMEX set 3k limit on green after FR

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

Starting Score:
585
Current Score: FICO TU 725 FICO EQ 735 EX 754
Goal Score: 850


Take the FICO Fitness Challenge
Valued Member
Posts: 45
Registered: ‎07-06-2012
0

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
Chase Freedom $23,700 |Chase Ink Plus $22,500 |Amex TrueEarnings $20,000 |Usbank Cash+ $20,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |Discover IT $14,500 |SallieMae $12,500 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Valued Member
Posts: 45
Registered: ‎07-06-2012
0

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
Chase Freedom $23,700 |Chase Ink Plus $22,500 |Amex TrueEarnings $20,000 |Usbank Cash+ $20,000 | Citi DoubleCash $16,500 |PenFed Cash Rewards $16,000 |Discover IT $14,500 |SallieMae $12,500 |Citi Forward $8,000 |Quicksilver $4,200 |StateFarm CC $4,000
Start of Gardening 12/13/14
Regular Contributor
Posts: 144
Registered: ‎07-21-2012
0

Re: AMEX set 3k limit on green after FR

[ Edited ]

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
Epic Contributor
Posts: 25,218
Registered: ‎10-23-2007
0

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... 

 

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Established Contributor
Posts: 930
Registered: ‎07-30-2011
0

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.


Starting Score: TU: 566
Current Score: TU: 741 (Discover FICO); EQ: 755 (MyFico) EX: 774 (FAKO)
Goal Score: 800

Take the FICO Fitness Challenge
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

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.

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.