11-23-2012 04:53 PM
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?
11-23-2012 05:00 PM
11-23-2012 05:02 PM
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.
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?
11-23-2012 05:06 PM
11-23-2012 05:07 PM
11-24-2012 06:03 PM
11-24-2012 06:15 PM
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.
11-25-2012 05:53 PM
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.
11-25-2012 08:49 PM
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.
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