topic Re: amex reduced line in Credit Cards

amex reduced line

Anonymous — Thu, 28 May 2015 22:16:00 GMT

Looks like amex reduced my total lines to 2k for two cards. When I called they cited that I had gotten some new accounts. I have gotten 3 new accounts in the past 2 months but I think the main reason they cut it is since I havent been a big spender on it. Overall I dont need the cards so im pretty much fine with 2k and will continue to use them for certain things.

If you have amex it seems like they really want the cards to be used to the fullest(safely of course). Ive been mainly using my cap1 business card and that limit increased already.

Re: amex reduced line

JSS3 — Thu, 28 May 2015 22:27:32 GMT

How much is enough though?

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:22:47 GMT

Sorry to hear... This is the 2nd incident reported in 24 hours. Has anything changed in your credit profile?

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:31:47 GMT

No everything has been similar other than a few new accounts but those are all at a zero balance.

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:34:00 GMT

@Anonymous wrote:
No everything has been similar other than a few new accounts but those are all at a zero balance.

How many new accounts and what where the limits on your Amex cards? This is terrible..

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:37:41 GMT

3 accounts in about 2-3 months period. Total lines between two cards was almost 15

Re: amex reduced line

amakol — Thu, 28 May 2015 22:41:49 GMT

What was your usage since you say it wasn't much?

$1000/month? $500? $100 or less?

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:42:37 GMT

@Anonymous wrote:
3 accounts in about 2-3 months period. Total lines between two cards was almost 15

Thats it? Wow.. Have you called to see if the line can be re-instated? There may be something they are not telling you..

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:51:33 GMT

I may call them tomorrow to see. I think its mainly due to low spending. I was at maybe 50 a month so not much at all. Ill keep it and use it either way.

Im hoping amex improves their customer service to where it used to be. I miss those days

Re: amex reduced line

Anonymous — Thu, 28 May 2015 22:52:23 GMT

@Anonymous wrote:
I may call them tomorrow to see. I think its mainly due to low spending. I was at maybe 50 a month so not much at all. Ill keep it and use it either way.

Im hoping amex improves their customer service to where it used to be. I miss those days

Ok.. Defiantely keep us posted...

Re: amex reduced line

CreditCuriosity — Thu, 28 May 2015 23:21:24 GMT

Ya kinda weird two reportings on such a small community.. Certainly wouldnt want my big Amex CL slashed, granted I put between 500-1k a month on it, but certainly not all my spend.

Re: amex reduced line

Anonymous — Thu, 28 May 2015 23:25:06 GMT

put some spend on them!

Re: amex reduced line

baller4life — Thu, 28 May 2015 23:26:01 GMT

Geez I had to go check my acct. What's going on?

Re: amex reduced line

kdm31091 — Thu, 28 May 2015 23:31:08 GMT

@Anonymous wrote:
Sorry to hear... This is the 2nd incident reported in 24 hours. Has anything changed in your credit profile?

Right, and while it's only 2 people, maybe instead of people saying "Chase is tightening up" or "Amex is tightening up, I hate Amex now" they will say "I need to be more careful with accquiring cards".

I don't know your specifics OP, but just because of this does not mean Amex has "bad customer service". "Customer service" does not equal "give me whatever I want". I am sorry to hear about this, and with time, refraining from new accounts and managing the existing ones well, it will resolve itself. Good luck.

Re: amex reduced line

JSS3 — Thu, 28 May 2015 23:34:18 GMT

@Kdm
Regarding what we'll hopefully say to ourselves---no...just no!

Re: amex reduced line

Anonymous — Thu, 28 May 2015 23:40:56 GMT

@CreditCuriousity wrote:
Ya kinda weird two reportings on such a small community.. Certainly wouldnt want my big Amex CL slashed, granted I put between 500-1k a month on it, but certainly not all my spend.

Not weird when you think that, while it's a small community, it's a community of people active in regard to their credit and often credit seeking. That seems to be the common thread between the two. (new accounts)

Re: amex reduced line

kdm31091 — Thu, 28 May 2015 23:41:36 GMT

It's just my observation, and could be totally off base, but it could simply be that Amex is ending its days of seemingly huge credit lines. Being able to obtain 3x your limit in a short amount of time is very significant...that's how people end up with huge limit Amex cards very quickly. Maybe it's just too much for them it this point, and they will be scaling back to a more "reasonable" level with CLIs. Unfortunately this could involve cutting back some existing CLs as well.

And a bunch of new accounts never helps anything but we all know that.

Re: amex reduced line

EW800 — Thu, 28 May 2015 23:53:12 GMT

It will be interesting to see how this pans out, given that we have seen at least two such reports within a day or so.

I have an Amex CL of about $27.5K between two cards and only charge about $800 to $1000 a month between them (PIF before statement cuts every month). One of these accounts is my only new account in the last year, so hopefully they don't mind my new account history too much, however I could see where they would not like how little I spend with them with such high CL's.

Re: amex reduced line

Berk — Thu, 28 May 2015 23:54:37 GMT

@kdm31091 wrote:
It's just my observation, and could be totally off base, but it could simply be that Amex is ending its days of seemingly huge credit lines. Being able to obtain 3x your limit in a short amount of time is very significant...that's how people end up with huge limit Amex cards very quickly. Maybe it's just too much for them it this point, and they will be scaling back to a more "reasonable" level with CLIs. Unfortunately this could involve cutting back some existing CLs as well.

And a bunch of new accounts never helps anything but we all know that.

Or it could have nothing to do with your credit profile at all and everything to do with your geographical area. Yes, credit card companies use where you live to help them gauge your creditworthiness beyond your report. Or, it could be that the OPs spending habits have changed - used to shop at Bed Bath and Beyond now buying soap at Dollar Tree. Yep, they use that info too. No telling with lenders all the internal matrices that they use to determine our potential to repay.

Re: amex reduced line

Anonymous — Thu, 28 May 2015 23:57:02 GMT

@CreditCuriousity wrote:
Ya kinda weird two reportings on such a small community.. Certainly wouldnt want my big Amex CL slashed, granted I put between 500-1k a month on it, but certainly not all my spend.

Same. Even though at this point it's more a token limit than anything. Once my FICO's creep back up into the 700's I have a feeling all my approvals will be 5 digit approvals.