Credit Cards

[toiletbowl69er]

So I just received my Amex Blue Sky today. I set up my account online and saw that my credit limit was only $1,000. But when I called American Express when I first received the approval, they said my limit would be $3,500. Why would they decrease my limit already, when I haven't even used it?

[youngandcreditwrthy]

Maybe you had a big change in your report right away? All lenders base changes to credit terms on your credit history, which they pull often.

[toiletbowl69er]

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youngandcreditwrthy wrote:
Maybe you had a big change in your report right away? All lenders base changes to credit terms on your credit history, which they pull often.

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I recently applied for a credit limit increase for my discover, which was a hard pull, and got declined. maybe they saw the inquiry and thought I was risky and credit-hungry?

[youngandcreditwrthy]

I'd hope that one inquiry wouldnt cause that, but maybe it did... Amex seems to be very protective in the risk managment department... I'd check the Exec Office Dept and give them a call in the morning!!:-)

[youngandcreditwrthy]

Number*

[Epcot]

That is very strange. Was there a credit limit listed on the letter sent with the card?

[Repo-ed]

They CLD me from 3k - 1k back in 06/07 after softing me.

So I would say that this is not out of line for Amex.

[wallyworld123]

Oh wow that's terrible definitely call and keep us posted!

[toiletbowl69er]

I did not have a letter stating it (which is what one rep asked me over the phone), I heard it through the automated responses when i called about the status of my application the morning I got an email about the approval. maybe I was still tired and deliriously heard it. No biggie, at least I got my foot in the door with Amex.

[steve23111]

I had something similar happen when I opened my Clear back in the early part of last year.  I was approved with a $5000 CL.  After about two months they CLD to $2600.  I got a letter in the mail stating that it was a "system error" which resulted in the initial approval for $5000.  Unfortunately, despite this supposedly being their error, it still counted as an adverse action in their system which prevented me from requesting a CLI on that card for 6 months from that date, instead of 6 months from the date the card was opened, as is the usual guideline.  After 6 months from the CLD I did call in for a CLI and got it back up to $5000, where it sits today.  Since then I have added an NPSL Zync and a BCP at $4500, and have had no other problems with CLD.