topic Re: AA from AMEX in Credit Cards

AA from AMEX

Anonymous — Sun, 17 Jan 2016 05:25:45 GMT

So, I had combined two of my capital one quicksilver one cards that I don't use anymore, which are both about a year and three months old, to my Venture card so I would have a 10k limit. Well, as soon news of one of the '' closed and paid" accounts showed up on my experian alerts, two days later, AMEX reduced my credit limit on my BCP from 3.5k to 1k! I'm so infuriated! All I did was move limits and close two accounts that I do not use. I recieved an email from AMEX this morning with the info, also saying that I would get a letter about it as well. Should I call to explain my situation so they can review it?

Re: AA from AMEX

myjourney — Sun, 17 Jan 2016 05:28:58 GMT

Sorry

Questions:

How do you know the 2 events are related since you haven't gotten the letter?

Have you checked your CR's?

How's UTL?

I've never seen an AA due to combining or the closing of cards. Really weird for sure

Re: AA from AMEX

OmarGB9 — Sun, 17 Jan 2016 06:01:27 GMT

Might be two completely separate issues, and they just happened to coincide. Wait for the letter to see what it says.

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 06:10:38 GMT

That's what I was thinking. I haven't had any out of the ordinary alerts from myFICO. But I haven't pulled a three bureau report since June. Might be time to. MyJourney has got me thinking.

Re: AA from AMEX

elim — Sun, 17 Jan 2016 06:22:37 GMT

I myself combined an have seen many others and this is the first AMEX AA that was thought to be tied to C1 account combination. Please keep us posted and definitely call and politely try to get your account reinstated. good luck

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 07:22:45 GMT

$3.5k isn't exactly a high CL for Amex. They may have had concerns before the Cap1 consolidation.

Re: AA from AMEX

B335is — Sun, 17 Jan 2016 07:50:14 GMT

Wow sorry to hear that. Any changes to your total utilization?

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 07:54:55 GMT

Nothing as of yet. I was at 6‰ util total when this happened

Re: AA from AMEX

B335is — Sun, 17 Jan 2016 08:00:35 GMT

For what it's worth, I've closed a number of cards over time and haven't received any AA from Amex. While it's always possible, it could be something else. Please keep us posted when you get the letter.

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 17:21:01 GMT

I'm thinking it's not related. I also combined CapitalOne cards about 2 months ago, and since then I have had CLI's on my Discover, US Bank and AMEX.

Re: AA from AMEX

djshifted — Sun, 17 Jan 2016 17:31:57 GMT

I am sorry to hear that. I was just thinking on this possibility yesterday, since I was just approved for AMEX Gold Delta, and was planning on combining CL's to close two of my Barclay cards. Please keep us posted.

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 17:34:54 GMT

I definitely will. Just pulled a myFICO 3-bureau report, since the last one I did was in June. Just waiting on it to be ready now. Make sure nothing is amiss

Re: AA from AMEX

Anonymous — Sun, 17 Jan 2016 18:35:25 GMT

I also think it's very likiely to be unrelated, but it could be, as we know very little about Amex internal scoring. What you have done is

a) reduce the number of open accounts

b) probably changed the % of accounts reporting a balance and/or those at $0

c) Changed the AAoOA (open accounts)

etc.

Now none of these may matter at all, but we don't know! The fact that others doing the same haven't had the same result also argues for it being unrelated, but of course their profiles are different so the impact of changes on internal scoring can be different. So, to echo others, wait for the letter, which may or may not provide real info.

Re: AA from AMEX

-Cal- — Sun, 17 Jan 2016 20:27:49 GMT

How do the two closed accounts appear on your report? I wonder if they think you had two accounts CLD then closed.

Re: AA from AMEX

takeshi74 — Sun, 17 Jan 2016 22:39:37 GMT

@Anonymous wrote:
I recieved an email from AMEX this morning with the info, also saying that I would get a letter about it as well. Should I call to explain my situation so they can review it?

Without the letter or an explanation of their concerns you have no idea if the actions that you know of are relevant to their concerns. Something (or several somethings) happened that exceeded their risk tolerance for your credit profile but we have no idea what that was and you're just assuming that it was the reallocation and account closures. They could be related. They could not be related. You need to detemrine this.

You might want to call to see if you can get the reasons for the AA verus having to wait for the letter. Once your have the reasons you can see if you can address them.

@Anonymous wrote:
That's what I was thinking. I haven't had any out of the ordinary alerts from myFICO.

Do not rely soley on myFICO alerts. MyFICO is trigger based. Not all activity is a trigger.

If you rely on myFICO then make sure you understand the triggers.

http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bureau-credit-monitoring-and-fico%C2%AE-identity

Re: AA from AMEX

Imperfectfuture — Mon, 18 Jan 2016 02:09:56 GMT

@Anonymous wrote:
So, I had combined two of my capital one quicksilver one cards that I don't use anymore, which are both about a year and three months old, to my Venture card so I would have a 10k limit. Well, as soon news of one of the '' closed and paid" accounts showed up on my experian alerts, two days later, AMEX reduced my credit limit on my BCP from 3.5k to 1k! I'm so infuriated! All I did was move limits and close two accounts that I do not use. I recieved an email from AMEX this morning with the info, also saying that I would get a letter about it as well. Should I call to explain my situation so they can review it?

Unless you have long history or high income, Amex does not like 10k. They did not AA me, but could not get cli. Broke the card up into two, much better.

Re: AA from AMEX

NRB525 — Mon, 18 Jan 2016 02:54:36 GMT

@-Cal- wrote:
How do the two closed accounts appear on your report? I wonder if they think you had two accounts CLD then closed.

+1 but for different reasons. I see all the folks who move limits around, then close the now gutted card so their open cards show large limits. This results in the accumulation of $500 closed cards, a list that grows and grows. I don't know how CCC look at this, but it remains on the file.

Now, I immediately will emphasize that I Do Not think this CapOne combination caused OP's AA with AMEX for the simple reason it is logistically unlikely. OP did the combination, it reported, and a few days later the CLD. It seems unlikely AMEX happened to SP at the opportune moment to know to do this.

Re: AA from AMEX

Anonymous — Mon, 18 Jan 2016 03:15:15 GMT

It shows as paid loan on experian, and account closed at customers request on Equifax. Hasn't shown up on transunion yet.

Re: AA from AMEX

14Fiesta — Mon, 18 Jan 2016 03:24:24 GMT

@Imperfectfuture wrote:
@Anonymous wrote:
So, I had combined two of my capital one quicksilver one cards that I don't use anymore, which are both about a year and three months old, to my Venture card so I would have a 10k limit. Well, as soon news of one of the '' closed and paid" accounts showed up on my experian alerts, two days later, AMEX reduced my credit limit on my BCP from 3.5k to 1k! I'm so infuriated! All I did was move limits and close two accounts that I do not use. I recieved an email from AMEX this morning with the info, also saying that I would get a letter about it as well. Should I call to explain my situation so they can review it?
Unless you have long history or high income, Amex does not like 10k. They did not AA me, but could not get cli. Broke the card up into two, much better.

Can you please elaborate what you mean? 10K on one card? I have a (relatively) short history, low income, and a 10K Amex. They seem to love me so...

Re: AA from AMEX

Imperfectfuture — Mon, 18 Jan 2016 03:37:47 GMT

@14Fiesta wrote:
@Imperfectfuture wrote:
@Anonymous wrote:
So, I had combined two of my capital one quicksilver one cards that I don't use anymore, which are both about a year and three months old, to my Venture card so I would have a 10k limit. Well, as soon news of one of the '' closed and paid" accounts showed up on my experian alerts, two days later, AMEX reduced my credit limit on my BCP from 3.5k to 1k! I'm so infuriated! All I did was move limits and close two accounts that I do not use. I recieved an email from AMEX this morning with the info, also saying that I would get a letter about it as well. Should I call to explain my situation so they can review it?
Unless you have long history or high income, Amex does not like 10k. They did not AA me, but could not get cli. Broke the card up into two, much better.
Can you please elaborate what you mean? 10K on one card? I have a (relatively) short history, low income, and a 10K Amex. They seem to love me so...

They do not care if it is on their card, they do not like it on other cards, especially flexible spending limit.