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@SPX wrote:
@Omnipotent wrote:Just go about your usage with the card and don't fret over a F/R.
I've mentioned this in another post but I use my card for everything from Amazon to eBay to paypal and amazon payments along with groceries, gas, clothing, shoes, etc.
Most of the F/R threads I have read are people who later divulge that their cards individually have spiked as far as utilization goes. Others, their scores dropped, and some are a bit too embarrassed to come forth with the entire truth. For some reason people want to look good on the internet while wondering what happened or what went wrong and still request help when they are unwilling to be 100% cooperative.
Take it with a grain of salt.
I guess, to me, none of that should be something that really triggers something so inconvenient. If they give me a $5000 credit line and I go 11 months charging only $50 and then on the 12th month charge $4050, that should be perfectlly fine. After all, they approved me for $5000 so I would think they'd allow me to use it without getting upset. If not, don't approve me for so much. Everyone talks about Amex's great customer service but that would certainly be the opposite.
Scores are similar. Even if my scores drop, what should be important is my behavior with THEIR card and company. Have I always paid on time? Am I within the credit limit that they have given me? Then that should be all that matters.
With all that said, I'm sure FRs only affect a small fraction of the total customer base. I bet most people who have Amex cards have never been affected by them and may not even know that such a thing exists.
I think you are misunderstanding how AMEXs work. The more arbitrary changes in limits only really occurs with the NPSL charge cards. Since you don't know limit, you can get stuck having charges rejected. However most of the problems with NPSL happen when you first get the card. While I find limits can change fairly often, they do a good job of growing the NPSL limit with your previous spending patterns. I find NPSL charge cards very useful as you can build up huge available CL quickly.
With their revolvers, they seem to function like any other credit card. Limit on it is known and hardly ever changes aside from user requested CLIs etc. In fact, AMEX CLs tend to be more stable than other issuers as many people saw during the 08 credit crunch. AMEX tends to FR instead of reducing CLs. Now I may not agree with FRs or even want to participate, but I do like that they tend to do that instead of just slashing your limits.
Basically I am not sure where your stories about AMEX and limits are coming from as I believe it to be just the opposite.
@Omnipotent wrote:
They would allow the usage up to the limit no problem but if it follows suit with the rest of your cards, it triggers the system that you are in need of money. Or if you rarely if ever use the card and out of no where it starts seeing use then it is a reason to trigger fraud.
Also, if your scores drop, in essence it means the account went south and if one did what prevents the one with Amex?
The way I feel about that is that they should understand what business they're in. Some people restrict credit cards ONLY for use when they're in need of money. As long as the borrower can meet the minimums it shouldn't be a problem.
@Crashem wrote:I think you are misunderstanding how AMEXs work. The more arbitrary changes in limits only really occurs with the NPSL charge cards. Since you don't know limit, you can get stuck having charges rejected. However most of the problems with NPSL happen when you first get the card. While I find limits can change fairly often, they do a good job of growing the NPSL limit with your previous spending patterns. I find NPSL charge cards very useful as you can build up huge available CL quickly.
With their revolvers, they seem to function like any other credit card. Limit on it is known and hardly ever changes aside from user requested CLIs etc. In fact, AMEX CLs tend to be more stable than other issuers as many people saw during the 08 credit crunch. AMEX tends to FR instead of reducing CLs. Now I may not agree with FRs or even want to participate, but I do like that they tend to do that instead of just slashing your limits.
Basically I am not sure where your stories about AMEX and limits are coming from as I believe it to be just the opposite.
I linked to the article earlier in the thread where my stories were coming from, but yes, they were regarding the NPSL cards.
One thing has become painfully obvious from reading this thread. Some people get it, and others simply don't.
@CreditScholar wrote:One thing has become painfully obvious from reading this thread. Some people get it, and others simply don't.
+1,000
Maybe I'm a glutton for punishment but I'm enjoying this thread.....