Irritated at AMEX

[ArisGreek]

Soooooo you ready for this? AMEX CLD me on my recent CLI from $600 to $1200 when I product changed from AMEX SPG to AMEX BSP. I just called them up when I logged in and I was back down to $600. They told me that it was a computer error and that I shouldn't have got that increase. Are you serious? I was FUMING.  They said my Experian score is too low and my revolving balances were too high. I said, my utilization is 3% and my EX score can't be that low because I have no dings, and only 3 inquiries in the last 2 years! I gave them my TU and EQ scores and they didn't care.

They also said my internal risk score was too high.  GRRRR!!!!! I am canceling this card. I am SO SO SO SO fed up with AMEXs crap on revolving. I'll stick to my $15,000 CL Chase OnePass Plus World MC and keep my Zync for looks. I am so upset, I can't even begin to tell you. CLD with my scores and healthy debt! ARRRRRGh! Good grief.

I am so ready to ball my eyes out right now. I am just so upset.

Edit: I will cancel this card when my Chase One Pass posts since I found out that the CL does report even though it's a World Elite MC.

[MarineVietVet]

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@ArisGreek wrote:

Soooooo you ready for this? AMEX CLD me on my recent CLI from $600 to $1200 when I product changed from AMEX SPG to AMEX BSP. I just called them up when I logged in and I was back down to $600. They told me that it was a computer error and that I shouldn't have got that increase. Are you serious? I was FUMING.  They said my Experian score is too low and my revolving balances were too high. I said, my utilization is 3% and my EX score can't be that low because I have no dings, and only 3 inquiries in the last 2 years! I gave them my TU and EQ scores and they didn't care.

They also said my internal risk score was too high.  GRRRR!!!!! I am canceling this card. I am SO SO SO SO fed up with AMEXs crap on revolving. I'll stick to my $15,000 CL Chase OnePass Plus World MC and keep my Zync for looks. I am so upset, I can't even begin to tell you. CLD with my scores and healthy debt! ARRRRRGh! Good grief.

I am so ready to ball my eyes out right now. I am just so upset.

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Don't let emotion be a part of credit.

It's just a piece of plastic. There are many, many more important things to be thankful for in this life.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[ArisGreek]

But they are basically telling me I'm not worthy. I just DO NOT understand them whatsoever.  How the heck am I high risk? I just do not get it. I have a mortgage, student loan, and a car payment.  I pay in full all the time on all of my accounts. It just baffles me. $600 CL with AMEX is a joke, a big joke...

[MarineVietVet]

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@ArisGreek wrote:

But they are basically telling me I'm not worthy. I just DO NOT understand them whatsoever.  How the heck am I high risk? I just do not get it. I have a mortgage, student loan, and a car payment.  I pay in full all the time on all of my accounts. It just baffles me. $600 CL with AMEX is a joke, a big joke...

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Does your family feel you are worthy? Or your friends? That's all that really matters in the end.

[ArisGreek]

I'm grateful for all that. But when  you have perfect credit with no baddies ever and are very responsible in everything and you can't get a measly $600 my ego is a little tainted.

I'll get over it.  Just wish they didn't use their own "internal risk score". It's garbage.

[MarineVietVet]

I'll say one last thing about this and then hush.

About 3 years ago BoA closed a LOC I had because as they said "You have enough credit". I was naturally upset and thought for about 10 minutes of closing 2 CC accounts I also have with them.

But I thought better of it and since that time BoA has lent me lots of money interest free. Once I took emotion out of it I could think clearly and I have played their game very well. I see no reason for you to close this account but that's up to you.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

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@ArisGreek wrote:

But they are basically telling me I'm not worthy. I just DO NOT understand them whatsoever.  How the heck am I high risk? I just do not get it. I have a mortgage, student loan, and a car payment.  I pay in full all the time on all of my accounts. It just baffles me. $600 CL with AMEX is a joke, a big joke...

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Listen to Marinevietvet!  He's right!

I'll tell you this-- Nobody, but nobody fully understands every intricate decision that any one lender makes. I doubt they (lenders) even fully understand their business decisions. It really is not a personal shot at your worthiness, and your worthiness is not in question. We (meaning any & all of us) are not owed an arbitrary threshold of credit line from our lenders-- unless of course we've secured said credit line with our own funds. And, it's each lenders prerogative to set their own internal risk triggers, that probably change like the direction of the wind.

There are any number of reasons that Amex might have you on their short leash at any given time. Newer/ish credit. Recent app spree. Too much credit. Too little credit. A carried balance. Not enough credit experience. They found out that you wear mix-matched socks... Who knows. It's not about YOU as an individual. It's about their statistical modeling that frequently adjusts.

If you don't like them as a lender... fire'em. If you like them, overall, and you're disappointed about the credit line, hold fast, keep doing what you're doing and you'll be back on their "less risky" list in no time. Whatever you decide, just remember that your worthiness is not tied to a piece of plastic, and a credit line that exists at the sole discretion of a slightly schizophrenic lender (trust me, they all are). It's just a card. They don't owe you, and you don't owe them. Keep it that way, and the ups & downs of credit won't impact you at all.

[wollepopolle]

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@ArisGreek wrote:

$600 CL with AMEX is a joke, a big joke...

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Perhaps, but it's also a good starting point. At least you were approved. My scores are a bit higher than yours and I was rejected for the Chase Freedom. I couldn't really understand it. I was upset, too, but then thought not to worry because I have enough good cards right now.

I'd just stay away from emotional decisions that you might regret. Amex won't care if you close your account. But it won't help you. Just stop doing product changes and keep your card and use it sensibly for whatever use you have for it. Then wait and see what happens.

[Wolf3]

AMEX became very schizophrenic when the credit crisis hit a few years ago, and I think they still are.   I don't share the awe of AMEX that many do here.  IMO, they are coasting on their customer service reputation from the past.. 

That said, I would recomend you do not cancel the card.   Just keep it alive with a few small charges.    They won't make any money, but it will add to your credit history.   You can give them more business in the future, if they treat you better.   

[fused]

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@Wolf3 wrote:

AMEX became very schizophrenic when the credit crisis hit a few years ago, and I think they still are.   I don't share the awe of AMEX that many do here.  IMO, they are coasting on their customer service reputation from the past.. 

That said, I would recomend you do not cancel the card.   Just keep it alive with a few small charges.    They won't make any money, but it will add to your credit history.   You can give them more business in the future, if they treat you better.   

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I agree with everything you said.