01-03-2009 08:34 AM
I got a nice email from Amex this morning informing me they dropped my CL. I can't believe they CLD'd my Clear from $8900 to $1000.
The CSR says it was a myriad of things. Some true, some unfounded. Oh well.
I'm thinking of giving this card the axe. One year of PIF and I get a CLD. Awesome.
01-03-2009 08:50 AM
Sorry FM. How much of the credit limit did you typically use every month?
Not much on the Clear at all. In fact, I don't really care they did it. I put a couple plane tickets to Vegas on it before (PIF of course), and that was about it.
However, I use my Platinum card a lot. I gotta call back and see if they messed with it. The Clear CSR said they did not, but we'll see.
01-03-2009 09:07 AM
01-03-2009 12:19 PM
01-03-2009 12:26 PM
that bites, sorry to hear it! my clear was/is being chased too but i've managed to keep them at bay for the past 7 or 8 months, so i am kinda hoping they've changed tactics and are not chasing to close.
I'm pretty sure I know exactly what happened.
care to share? from your post it seems like a 'use it or lose it' cld. mine appeared to be 'balances on other accounts' chase. btw, did you find a HT to your liking?
01-03-2009 12:30 PM
Wow that sucks all the way around. Sorry to hear it.
I just got nailed recently with a 10K CLD from my credit union MC that I have used forever. The CLD was totally without merit but it pissed me off.
I'm waiting for my CLD from Am X. I haven't been hit yet but from what I've been hearing, it's just a matter of time.
01-03-2009 02:22 PM
Almost an $8000 decrease. That is messed up.
The thing is, they decrease you based on their "findings" and then say it will be reviewed again in a couple months...possibly raise the limit back (yeah right!) but your score will (possibly) be even lower because of the chunk taken out of your utilization.
When I got my Amex, I dropped three lower limit cards that when combined equalled the new amex's limit. My total available credit stayed nearly the same. Score was the same. But now it isn't and my recent amex decrease (way less than yours, $2500) has lowered my score. Do they factor in that THEY are the ones that lowered your score when they do their "reviews"? Regardless, I have a $500 limit card that has a $0 balance on it now...as soon as even the slightest tap on the shoulder comes from that dinosaur company...it's cancelled. I know it's only a $500 limit card, they could care less possibly, but I wouldn't put it past them to FR me.
Actually, just writing this post, I'm cancelling the card Monday. Bye Amex. Bye headaches. By worrying. Bye CLD's. Bye liars. Bye dinosaur company that treats customers like crap. Byeeeeeee!
01-03-2009 02:25 PM - edited 01-03-2009 02:32 PM
Oh yeah....and bye bye card that is accepted in only about half of the places I have tried to use it. Crap company.
The nutrition store: "Oh sorry, we don't take Amex....only Visa, Mastercard and Discover".
The nursery : "Oh sorry, we don't take Amex....only Visa, Mastercard and Discover".
My gym: "Oh sorry, we don't take Amex....only Visa, Mastercard and Discover".
The Pizza place near my house : "Oh sorry, we don't take Amex....only Visa, Mastercard and Discover".