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Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Bitten by the AMEX Luv Bug!

Congrats on your CLI! There is no policy that restricts the use of Luv button on the FICO Forums. Just remember the potential ramifications for your actions (especially with Amex).
Contributor
Posts: 96
Registered: ‎04-04-2007
0

Re: Bitten by the AMEX Luv Bug!

Hi Tuscani! What ARE the potential ramifications?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Bitten by the AMEX Luv Bug!



sunkysd wrote:
Hi Tuscani! What ARE the potential ramifications?



Financial Review
 
Contributor
Posts: 96
Registered: ‎04-04-2007
0

Re: Bitten by the AMEX Luv Bug!

Thanks!
Contributor
Posts: 75
Registered: ‎05-31-2007
0

Re: Bitten by the AMEX Luv Bug!

Tuscani - are you here???  Related question - just got a letter from Amex (my costco Amex)...wouldn't you know that it's a FR letter?  I have not applied for any new cards since fall of last year (I think this was my last card and it was opened in October).  My initial CL was 2000, and they just sent me a letter stating that based on info from TU my CL has been reduced to 1400.  I know that all of my FICO's have increased over this time period as we have been in the process of improving scores in order to purchase a home.  If anything my TU score has increased 30-40 points over the past 5 months - and is way better than what it was in October '06.  i was honest on my application about income - have always paid on time - have no idea why they would be doing this now.  I called the customer service # on the back of the letter and the rep stated that if I was certain that my score had increased their could have been an error and that I could fax them the summary page with my FICO score from TU to show them what it was and they would compare to the score that was reported to them by TU.  If they determine there is an error they will reinstate the original CL and update the account accordingly.  I am just so frustrated because I have been doing nothing but paying balances down (I paid several down to zero and reduced util by 30% or so) and diligently watching my score.  I feel like they really waited a long time to conduct a FR in this case.  Has anyone experienced this before? 
Contributor
Posts: 89
Registered: ‎06-09-2007
0

Re: Bitten by the AMEX Luv Bug!



focused07 wrote:
 Has anyone experienced this before? 


Usually CC companies do this when your balances go up in your other accts.  Simply put, I would cancle the acct.  Don't put up with this.  A couple years ago, Barclays bank through their Juniper acct decreased by balance because I took on new debt with another credit card.  I cancled my acct and sent them a check that very moment.  HSBC once approved my application over the phone for $300.  I was insulted and immediately closed the acct on the phone right after it was opened.  I now have four cc's with limits of $25K, $25K, $18K and $15K.  Everytime I open an account I inform the bank that if I don't get a certain limit or a certain rate I won't accept the card/loan.  Believe it or not, I usually get what I respectfully request.
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Bitten by the AMEX Luv Bug!



focused07 wrote:
Tuscani - are you here???  Related question - just got a letter from Amex (my costco Amex)...wouldn't you know that it's a FR letter?  I have not applied for any new cards since fall of last year (I think this was my last card and it was opened in October).  My initial CL was 2000, and they just sent me a letter stating that based on info from TU my CL has been reduced to 1400.  I know that all of my FICO's have increased over this time period as we have been in the process of improving scores in order to purchase a home.  If anything my TU score has increased 30-40 points over the past 5 months - and is way better than what it was in October '06.  i was honest on my application about income - have always paid on time - have no idea why they would be doing this now.  I called the customer service # on the back of the letter and the rep stated that if I was certain that my score had increased their could have been an error and that I could fax them the summary page with my FICO score from TU to show them what it was and they would compare to the score that was reported to them by TU.  If they determine there is an error they will reinstate the original CL and update the account accordingly.  I am just so frustrated because I have been doing nothing but paying balances down (I paid several down to zero and reduced util by 30% or so) and diligently watching my score.  I feel like they really waited a long time to conduct a FR in this case.  Has anyone experienced this before? 



There is no rhyme or reason to Amex FR. Smiley Happy
Contributor
Posts: 75
Registered: ‎05-31-2007
0

Re: Bitten by the AMEX Luv Bug!

Thanks to you both.  I told the rep that I feel as though I am being penalized for being nothing but a good customer.  It's a pain that I have to take the time to prove to them that TU has made an error.  It's total BS and although I have had nothing but a positive experience with amex I am considering closing my account (just have to wait until we make the home pruchase).  Do you think think anyone at Costco customer service would care about the customer service I am not getting from their partner AMEX?
Moderator Emeritus
Posts: 6,182
Registered: ‎03-29-2007
0

Re: Bitten by the AMEX Luv Bug!



focused07 wrote:
Thanks to you both.  I told the rep that I feel as though I am being penalized for being nothing but a good customer.  It's a pain that I have to take the time to prove to them that TU has made an error.  It's total BS and although I have had nothing but a positive experience with amex I am considering closing my account (just have to wait until we make the home pruchase).  Do you think think anyone at Costco customer service would care about the customer service I am not getting from their partner AMEX?



Doubtful. Smiley Happy
Contributor
Posts: 75
Registered: ‎05-31-2007
0

Re: Bitten by the AMEX Luv Bug!

Wow Tuscani - your new name should be "quick draw mcgraw" - you reply SO fast!  Just a shot in the dark about telling Costco CS.  By the way, just pulled my TU Fico from this site and as I suspected, there is nothing that has changed for the worse in my report or score, in fact there are only positive changes - and the score has increased about 45 points since October '06. 

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