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Received a letter from AmEx a couple of weeks ago, saying that they've decreased my credit line limit radically. No warning BEFORE taking these actions, no rational explanations... I've never been late with any payments and no problems with my scores. Although I'm aware of that it's legal (they've got 30 days to inform me, right?), it just seems to me like the wrong order of doing things - and it's SO disrespectful.
Anyway - I'm putting together a report regarding how lenders handle these matters, and I've received several copies of other "credit line decrease info-letters" already; but I'll need more to get a strong case on behalf of all customers here. Anyone who has received a similar letter? If so, I'd love to see it!
Thanks!!!
Liz