topic Re: AMEX Credit Line Decreased. Whats next? in Credit Cards

AMEX Credit Line Decreased. Whats next?

hotGQ161 — Thu, 04 Jun 2015 23:20:48 GMT

I currently have five amex's CC (Blue Sky, Blue Cash Preffered, Gold, Mercedes Benz and Platinum delta) Two months ago i had my Blue Cash CLD from $14K to $8500 which was about $300 over my balance. My finances took a tumple because i change jobs and other financial issues. I just upgraded my Green to Gold and my Delta Gold to Platinum. ( maybe amex does not hate me that much because they just let me PC 2 cards. My question is..... should i expect more CLD or will i be able to get my CL back up after bringing down my balances? thanks guys.

Re: AMEX Credit Line Decreased. Whats next?

Anonymous — Thu, 04 Jun 2015 23:26:51 GMT

Sorry to hear... Was there a reason for the CLD given? Have your balances on other cards increased also?

Re: AMEX Credit Line Decreased. Whats next?

kdm31091 — Thu, 04 Jun 2015 23:28:14 GMT

It could be due to having several accounts with them. You may be above your maximum exposure...there's always an internal limit somewhere.

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Thu, 04 Jun 2015 23:32:39 GMT

Yeah but i was so upset at the CLD and other things happening that i didnt ever read it. i have spoken to them few times but not about the CLD. yes they did but are back to normal now.

@Anonymous wrote:
Sorry to hear... Was there a reason for the CLD given? Have your balances on other cards increased also?

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Thu, 04 Jun 2015 23:34:33 GMT

@kdm31091 wrote:
It could be due to having several accounts with them. You may be above your maximum exposure...there's always an internal limit somewhere.

Yeah. what really help me getting my first CL was making multiple payments per months. maybe that triggered something good on their system.

Re: AMEX Credit Line Decreased. Whats next?

kdm31091 — Thu, 04 Jun 2015 23:40:16 GMT

Also, looking at your lineup, Amex makes up a huge chunk of your portfolio with little diversity. I'm sure this makes them somewhat nervous too. You are basically "all in" with them (so if you were to not pay your cards, they'd be taking the large majority of the hit).

Re: AMEX Credit Line Decreased. Whats next?

Dw4250 — Thu, 04 Jun 2015 23:45:01 GMT

@hotGQ161 wrote:
I currently have five amex's CC (Blue Sky, Blue Cash Preffered, Gold, Mercedes Benz and Platinum delta) Two months ago i had my Blue Cash CLD from $14K to $8500 which was about $300 over my balance. My finances took a tumple because i change jobs and other financial issues. I just upgraded my Green to Gold and my Delta Gold to Platinum. ( maybe amex does not hate me that much because they just let me PC 2 cards. My question is..... should i expect more CLD or will i be able to get my CL back up after bringing down my balances? thanks guys.

Sorry this happened to you OP. Did your recent financial issues cause you to miss any payments on any account (not just AMEX)? CCC soft pull all of us on the reg, so if anything was late, that alone could cause a CLD.

Re: AMEX Credit Line Decreased. Whats next?

Anonymous — Thu, 04 Jun 2015 23:46:49 GMT

@hotGQ161 wrote:
Yeah but i was so upset at the CLD and other things happening that i didnt ever read it. i have spoken to them few times but not about the CLD. yes they did but are back to normal now.

Ok.. Keep doing what you are doing now and don't apply for any more of their cards. Work on growing the current cards you have as their limits are very small compared to your large limit on Amex...

What are your scores, AAoA?

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Thu, 04 Jun 2015 23:47:42 GMT

@kdm31091 wrote:
Also, looking at your lineup, Amex makes up a huge chunk of your portfolio with little diversity. I'm sure this makes them somewhat nervous too. You are basically "all in" with them (so if you were to not pay your cards, they'd be taking the large majority of the hit

Understanable but wont be the case. im proud of having my amex's and balances are coming down fast.

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Thu, 04 Jun 2015 23:49:34 GMT

with Amex 1 month on 2 of my cards smh. i know but i had not choice.

Re: AMEX Credit Line Decreased. Whats next?

SunriseEarth — Fri, 05 Jun 2015 00:48:05 GMT

@hotGQ161 wrote:
I currently have five amex's CC (Blue Sky, Blue Cash Preffered, Gold, Mercedes Benz and Platinum delta) Two months ago i had my Blue Cash CLD from $14K to $8500 which was about $300 over my balance. My finances took a tumple because i change jobs and other financial issues. I just upgraded my Green to Gold and my Delta Gold to Platinum. ( maybe amex does not hate me that much because they just let me PC 2 cards. My question is..... should i expect more CLD or will i be able to get my CL back up after bringing down my balances? thanks guys.

Yeah, I think you just had too much exposure for AMEX. And if I'm reading this right, you had an $8200 balance on the BCP, so now they're balance chasing. Best thing you can do now is to get those balances down and take it from there. Don't try for new credit at this point, either.

Re: AMEX Credit Line Decreased. Whats next?

Imperfectfuture — Fri, 05 Jun 2015 01:01:07 GMT

@SunriseEarth wrote:
@hotGQ161 wrote:
I currently have five amex's CC (Blue Sky, Blue Cash Preffered, Gold, Mercedes Benz and Platinum delta) Two months ago i had my Blue Cash CLD from $14K to $8500 which was about $300 over my balance. My finances took a tumple because i change jobs and other financial issues. I just upgraded my Green to Gold and my Delta Gold to Platinum. ( maybe amex does not hate me that much because they just let me PC 2 cards. My question is..... should i expect more CLD or will i be able to get my CL back up after bringing down my balances? thanks guys.
Yeah, I think you just had too much exposure for AMEX. And if I'm reading this right, you had an $8200 balance on the BCP, so now they're balance chasing. Best thing you can do now is to get those balances down and take it from there. Don't try for new credit at this point, either.

He also missed payments on two of their cards. Not good (if I am reading his post correctly). That will take a LOT of gardening to overcome.

Re: AMEX Credit Line Decreased. Whats next?

Anonymous — Fri, 05 Jun 2015 01:21:32 GMT

he product changed from green to gold, and delta gold to plat...

no missed payments

OP, what was your spending like on these cards monthly? Just carrying a balance raises a red flag versus spending a lot and PIF

Re: AMEX Credit Line Decreased. Whats next?

Kenny — Fri, 05 Jun 2015 01:25:46 GMT

This is a global alert for them.. your total utilization was very high. Your internal utilization was very high. For them the risk is too high.. get that balance down asap if possible. The other cards are not at a limit that CLDs will happen, IMO.

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Fri, 05 Jun 2015 02:17:09 GMT

Yeah I'm working towards that none stop. I want to be on their good side.

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Fri, 05 Jun 2015 02:19:14 GMT

Yeah.... No more CC usage nor nothing that has to do with credit cards until everything is paid off

Re: AMEX Credit Line Decreased. Whats next?

hotGQ161 — Fri, 05 Jun 2015 02:20:49 GMT

@Anonymous wrote:
he product changed from green to gold, and delta gold to plat...

no missed payments

OP, what was your spending like on these cards monthly? Just carrying a balance raises a red flag versus spending a lot and PIF

Minimum and paid off monthly PIF

Re: AMEX Credit Line Decreased. Whats next?

taxi818 — Fri, 05 Jun 2015 03:50:42 GMT

Well 3 out of four have AF. and you just went to plat. with delta?. that high af. Most of the cards at on their border line limit. the real question is. what is your utilization on those cards.

Re: AMEX Credit Line Decreased. Whats next?

bada_bing — Fri, 05 Jun 2015 04:26:21 GMT

One other possible factor in the cld might be the change in employment. AMEX is

the only issuer I deal with that pulls my employment SP from theworknumber

They pull me there about once a year. All they can see with a SP is that I have the same

Employer that participates in reporting to theworknumber. If the OP was employed at a

Participating employer, AMEX could possibly see he was no longer employed there. Might

Have made them nervous along with the increased utilization.

Re: AMEX Credit Line Decreased. Whats next?

Anonymous — Fri, 05 Jun 2015 06:17:18 GMT

@bada_bing wrote:
One other possible factor in the cld might be the change in employment. AMEX is
the only issuer I deal with that pulls my employment SP from theworknumber
They pull me there about once a year. All they can see with a SP is that I have the same
Employer that participates in reporting to theworknumber. If the OP was employed at a
Participating employer, AMEX could possibly see he was no longer employed there. Might
Have made them nervous along with the increased utilization.

Hey bada, can you explain how that "work number" employment verification works??? I work for BNSF Railway and they use the same. I've been giving out the work number phone number on all CC applications. From how it was explained to me, creditors can call the "work number" to confirm your employment status. However, in order to receive salary information, I have to give them some "key". This "key", which is only good for a certain number of days, allows them to get my salary numbers. Is this correct ??? Thanks.