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Member
outriggal
Posts: 14
Registered: ‎07-17-2010
0

American Express Cut our Limit! Has anyone gotten it back?

Hi there,

 

Amex cut our Costco Amex from 8800 to 2,000. Our balance when they cut the CL was 1800.00.  I am pissed off. Has anyone been able to get them to raise it back up? We were not late or anything and my husband has had this card from at least eight years. Makes me not want to go to Costco anymore!

 

Thanks!

Frequent Contributor
joestay
Posts: 374
Registered: ‎01-08-2010
0

Re: American Express Cut our Limit! Has anyone gotten it back?

Were you carrying a balance from month to month?  What's your utilization from other credit card?

Member
outriggal
Posts: 14
Registered: ‎07-17-2010
0

Re: American Express Cut our Limit! Has anyone gotten it back?

Yes, were were carrying a balance from month to month. The card is in my husbands name and we have been using our cards much more then before since I am unemployed. This is probably why they cut us.

Established Contributor
Watchmann
Posts: 985
Registered: ‎05-14-2008
0

Re: American Express Cut our Limit! Has anyone gotten it back?

[ Edited ]

outriggal wrote:

Yes, were were carrying a balance from month to month. The card is in my husbands name and we have been using our cards much more then before since I am unemployed. This is probably why they cut us.


Look at it from AMEX's point of view .... you are now unemployed, are carrying a balance, and using your cards more, those are danger signals that they shouldn't ignore.   Details of where you live, line of work, utilization, baddies, etc. all roll into the equation.  It is a sign that more scrutiny is being taken when extending credit, which is how it should be.  You really can't argue with their decision under the circumstances, imo.  The game of garnering high CL's in order to juice our FICO scores is ending

 


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