topic Re: AMEX decreasing my limits in Business Credit

AMEX decreasing my limits

Falcon1871 — Thu, 06 Apr 2023 22:01:33 GMT

Is anyone having this issue with Amex cards?

They are decreasing my limits one by one.

Personal scores are over 700.

Business credit profiles are in good shape.

Re: AMEX decreasing my limits

sccredit — Thu, 06 Apr 2023 22:04:11 GMT

I would call them and ask, there seems to be something with your profile that is spooking them. There is a lot of uncertainty in the economy right now. In 2007-2009 there were business card issuers that were reducing limits simply because of industry. See if they will tell you.

Re: AMEX decreasing my limits

GZG — Thu, 06 Apr 2023 22:06:23 GMT

@Falcon1871 wrote:
Is anyone having this issue with Amex cards?
They are decreasing my limits one by one.
Personal scores are over 700.
Business credit profiles are in good shape.

if you were your own lender, what in your profile do they see that would warrant a CLD?

'over 700' still doesn't mean there isn't spooky things on your profile they don't like

Re: AMEX decreasing my limits

Falcon1871 — Thu, 06 Apr 2023 22:09:12 GMT

The only thing I assume is the balances on my other two Amex cards. I pay them monthly more than the minimum. But I carry balances on them. Other than that, I don't know what could be the problem.

I will call and ask them.

Re: AMEX decreasing my limits

Epiki71 — Thu, 06 Apr 2023 23:15:19 GMT

OP,

Can you please keep us posted on the outcome.

Re: AMEX decreasing my limits

pizzadude — Thu, 06 Apr 2023 23:27:05 GMT

@Falcon1871 wrote:
Is anyone having this issue with Amex cards?
They are decreasing my limits one by one.
Personal scores are over 700.
Business credit profiles are in good shape.

What utilization do you have on your cards presently? Also are your non-AMEX cards also carrying balances, and if so what % ?

Any recent negative / derogatory information on your reports ?

Re: AMEX decreasing my limits

Falcon1871 — Fri, 07 Apr 2023 18:55:25 GMT

Latest on the case:

Yes, they were worried about the other two cards that have balances on them. Yesterday, they also decreased my Kabbage limit. They sent me a list of documents to send them to re-evaluate their decision. I don't think they will change their decision unless I pay off those two cards.

Lesson learned: not to carry balances on the cards for too long.

No negative items on my personal and business credit profiles.

Re: AMEX decreasing my limits

pizzadude — Fri, 07 Apr 2023 20:20:50 GMT

What were your balances compared to the card limits when they started balance chasing you ?

Re: AMEX decreasing my limits

atst2000 — Sun, 09 Apr 2023 04:42:33 GMT

This is the same thing that's been happening to me the last few weeks.

Been an Amex customer for over 7 years with personal and business account (charge and credit cards). Scores also in the 740's. First they started with my personal Gold Charge and now have a pre-set limit and then nerfed my kabbage and sliced my platinum delta biz and blue cash biz cards limits to laughable amounts right after I used them (with $0 balance on them).

This has happened to me before right when Covid started and yes I carry a small balance but never anything crazy. Never missed a payment in all 7 years as well.

Amex, along with others seem to balance chase when anything negative happens in the economy/banking industry.

Only thing that I know that lowered my score was paying off two car loans which lowered my scores about 12 points, so who knows.

I'm done with Amex and their bipolar bs so they can close my entire portfolio for all I care. I have better biz and personal accounts with USBank and BOA.

So your not the only one and I'm assuming we'll see more posts about balance chasing with Amex sooner than later.

Re: AMEX decreasing my limits

TMDSCT — Sun, 09 Apr 2023 16:13:46 GMT

Sorry to hear this is happening to you, but AMEX like any other lender has to mange their risk, and IMO, no one can fault them for that. Additonally you mentioned you carry a balance, and you feel it's not anything crazy, but perhaps your idea and AMEX's idea of crazy are far apart. Either way, I understand how disheartening it can be when this happens, hopefully it will change for the better in the near future.

Re: AMEX decreasing my limits

mfinsmi1 — Sun, 09 Apr 2023 21:11:07 GMT

@Falcon1871 i can tell you for a fact amex wants you to pay the statement balance in FULL they do not like to see balances being carried over month to month....as a result of this i cant even properly utilize my 0% business card smh