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Regular Contributor
Posts: 153
Registered: ‎07-01-2008
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WOW, THANK YOU AMEX!!! =p

[ Edited ]

So, I checked my account online, available credit from 16k down to 1k.

 

 

Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?

 

 

And close, or sockdrower? I'm thinking close before they close it for me......

 

 

Message Edited by thatdoodjohn on 02-06-2009 06:00 AM
Established Contributor
Posts: 733
Registered: ‎10-23-2007

Re: WOW, THANK YOU AMEX!!! =p

You can try giving them a call, but they are notorious hardliners. If I were you i'd make a payment. If they chase your balance then PIF and close the card before they close it for you.
____________________
FICOs: (as of 12-10-08): EX 759 | (as of 01-24-10): EQ 794 TU 756 EX ? | (as of 3-17-11): EQ 794 TU 790 EX ?

Until Chase lowers my ridiculously high APR they can kiss my patootie! Their card has been retired to the sockdrawer. Smiley Mad
Senior Contributor
Posts: 3,696
Registered: ‎01-10-2008
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Re: WOW, THANK YOU AMEX!!! =p

sorry this happened.  i have also received cld from amex 3x's so far (currently at 2.5k cl) and am left wondering if they'll keep going down to 500 and then close.  i prefer to think they will change gears since my reports are in v. good shape and looking better every day but it is not unlikely that i am deluding myself with this hope.
i would if possible pif and sock drawer making a small purchase every couple of months and pif.  they may continue to cld to 500 and then close the account if they are trying to unavail themself of the account completely as they have done to other card holders- or not... it may also depend on the reason for the cld, or have no rhyme or discernable reason.  try to be prepared to replace the tl if you'll need to and to help with lost uti.

thatdoodjohn wrote:

So, I checked my account online, available credit from 16k down to 1k.

 

 

Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?

 

 

And close, or sockdrower? I'm thinking close before they close it for me......

 

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
Posts: 3,279
Registered: ‎08-03-2007
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Re: WOW, THANK YOU AMEX!!! =p


thatdoodjohn wrote:

So, I checked my account online, available credit from 16k down to 1k.

 

 

Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?

 

 

And close, or sockdrower? I'm thinking close before they close it for me.....


Amex recently cut my CL from $8900 to $1000. I had a 0 balance on the card at the time. 

 

Unfortunately, it sounds like they are chasing your balance. If you make more payments, I'd expect them to continue to lower your CL to either $500, or close it entirely when the account is PIF. 

Here we go again...
Regular Contributor
Posts: 153
Registered: ‎07-01-2008
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Re: WOW, THANK YOU AMEX!!! =p

I guess they have every right to believe that I am a "risky" customer. I recently charged 2k on my Citi for college tuition. Then I applied for a couple credit, and being denied for a BOA Amex.

 

Amex must believe that I am in desperate need for credit, so I guess one solution to protect themselves is to lower my available credit to an extreme. I will give it a couple more cycles to see if they are, in fact, trying to chase down my balance. Then I will close.

Regular Contributor
Posts: 169
Registered: ‎02-29-2008
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Re: WOW, THANK YOU AMEX!!! =p

You don't have to do much to be "risky" in their eyes.  They've been messing with me for over 1 year and my last letter from them said I had an auto loan from an "undesireable lender" and that was why they were CLD.  The undesireable was CapOne and I was a co-signer to my husband, we only had the loan for a short while with Cap and then moved to NMAC. 

 

Famex!!

We gave up the fight and filed BK in 2010. Smiley Sad
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