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ARG! Have you called AmEx and asked them why, or to reconsider? That's a big drop. Should city CLD, I'd call. It's worth a shot.
What happened? Why did AmEx lower your limit? If you don't mind my asking. When they lowered mine I called and was told it was because of the area of the country I lived in. It had nothing to do with my personal history with them of always paying on time, utilizing less than half of my credit, and always paying well above the minimum. I thought that extremely unfair, and still do, but they wouldn't budge on restoring my balances. Citi cut me, as well, but has bounced back, whereas AmEx has not.
Strange thing: Transunion recently dropped my score a point stating I'd paid down a balance by more than $600. Go figure.
@MercyMe wrote:ARG! Have you called AmEx and asked them why, or to reconsider? That's a big drop. Should city CLD, I'd call. It's worth a shot.
I got the reasons in the mail
And trying to negotiating about my lowest limit, on a card that MANY MANY people have found more of a hassle than it is worth? No thanks.
I also had a straight up American Express card that had a limit of $30,000 that they unilaterally closed on me at the beginning of this experiment. They were pretty cold about that one, did the reconsideration thing, got stuff in the mail 10 days later reconfirming that it is absolutely closed.
Don't really care about the macy's one. Amex is Amex.
I have one remaining American Express card, which I am carrying a large balance on. They haven't CLD me yet, its still in the promotional period haha we'll see
This is the most interesting thread on the whole site, in terms of understanding risk assessment by "particular lenders". I must say Gen, you have more courage(or money😊) than I
@Anonymous wrote:
Dude, your my hero. You've got some serious 🏈🏉 !!!!! I'd be so freaked out if I tried this experiment to this degree. Wow. That's awesome. Can't wait to see how this movie ends. I'd be afraid everything would turn to 💩💩 I'm locked on this channel. Thanks !!! 🙌🙌🙌🙈🙉🙊
The most I had previously carried was around 8% utilization. And that used to freak me out too.
@Anonymous wrote:
I just had to read this thread a second time. It's awesome. I love it. Basically screwing with Amex and they have absolutely no idea. Unfortunately, it's going to cost you certain banks, but than again, if they can't help you in your time of need, than why carry them ??? Thank you, once again. Keep updating please. I could see this as a reality series 😀😀😀😀.
Exactly, and if I'm going to brag about limits in my signature again, I want the ones worth bragging about.
@Anonymous wrote:
Updates, updates ???? 😀😁😀😁😀
+1
@elim wrote:
@Anonymous wrote:
Updates, updates ???? 😀😁😀😁😀+1
The consolidation loan offers in the mail have gotten more generous. I never knew about that shady industry, but even the legit ones seem like they will try to negotiate lower debt with your creditor, which doesn't help, just further nixes your credit score from what I've read. I throw all the offers in the trash.
On my Credit Karma "full credit report", each card shows what my max utilization was. I think this is cool and will help me get higher limits in the future, but I'm not 100% sure if credit reports actually show this. But I know the respective card lender's know
My first balance transfer promo ends in september, the next one in october. They are significant amounts and so I plan to pay them off beforehand. Most of them don't end till Q2, Q3 2016.
I also got a salary raise, so I look forward to how my career trajectory will assist me in securing greater credit facilities in the future.