Amex CLD :(

[TheSpeculator]

Amex CLD my BCE from 2 to 1K this afternoon.
Due to fico score going down to EX 615.
Too many credit inqs. Total debt too high with Amex, even though all 3 Amex cards are 0 bal. payment history. High util. Yada yada.

Sucks. Embarrassing. I don't want to trigger an AR, so I'll just take this one on the chin and pay my debts down on my other lenders and keep working at it.

This CL is so getto.

[B335is]

Bummer 

Are any of your cards maxed out or anything negative pop up on the reports?

[enharu]

Well, at least they kept the accounts open. Work on your debt, let your inquiries age, and you can always request for a CLI again then.

[09Lexie]

Wow! Sorry about that but if you don't mind answering a few questions it might help other.

How many inq's are we talking about?
If your balances are 0, how can it be too high?
How long have you had the Amexes?
What's your total util?

[TheSpeculator]

Yeah B335. A chase and boa near 80%, for the zero interest.

I have a Honors card with a 5K limit I sure hope they don't slash that too :/. And of course the fears of other lenders freaking out. Oh bother.

[B335is]

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@TheSpeculator wrote:
Yeah B335. A chase and boa near 80%, for the zero interest.

I have a Honors card with a 5K limit I sure hope they don't slash that too :/. And of course the fears of other lenders freaking out. Oh bother.

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Are these relatively new accounts that are reporting 80% util?  What is your AAoA?  What is the (Citi or Amex?) HHonors util?

[TheSpeculator]

4 or 5 inqs this summer. Plus the maybe 3 that were there from 2012.

My Amex balances before this statement were 0% (charge card), 0%, and 70%. As of today all zero balance.

No more inqs for me. Luckily amex balances are all manageable now. Just have to pay down my other debts.

[09Lexie]

How long were you carrying the 70% util? And on which one?

[TheSpeculator]

Yes new accounts with 0% interest promos. A wedding, honeymoon, new home gave my cards a workout. AAoA is roughly 2yrs. HHonors is at zero bal now.

Hope this info helps someone against it happening to you.

[enharu]

If you have the money, pay off those cards ASAP to avoid AA from other lenders as well. Its pretty likely to happen. If you don't have the money, time to start saving up and cutting expenses.

If you can pay it off within a short period and let the new balance report, you might be able to call Amex and have hem reverse the decision.

Anyhow, what's done is done. Just avoid putting yourself in this situation again.