topic Re: Amex CLD in Credit Cards

Amex CLD

Anonymous — Sun, 27 Aug 2017 16:39:30 GMT

I am PO'ed---Been very faithful with these guys, never a late, never over drawn-----Get email for two cards, Delta Miles and BCE...total CLD--3400!...NOT A HAPPY CAMPER

Re: Amex CLD

CreditCuriosity — Sun, 27 Aug 2017 17:44:03 GMT

What were the reasons on the letter you received?

Re: Amex CLD

CreditMagic7 — Sun, 27 Aug 2017 18:11:14 GMT

So sorry OP amex seen fit to bite down on your cards with them.

Don't know what is up with them but they have a plenty of new approvals coming their way (again) recently so it should be interesting to see if others soon find their cards pinched eventually.

Some swear by that lender and crow all over them and then again others find out later on that they have a fine line that when crossed they will swiftly swoop in and claw back or even close accounts.

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 18:29:00 GMT

Check your experian report something spooked them.

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 18:53:08 GMT

@CreditCuriousity wrote:
What were the reasons on the letter you received?

No letter yet, just emails advising me of CLD

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 18:54:33 GMT

@Anonymous wrote:
Check your experian report something spooked them.

My EX score is down, but been down before like this. Other than that, nothing unusual

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 18:57:18 GMT

Not the end of the world.....I have plenty credit elswhere. Hell, they just approved me for the PRG two weeks ago from a pre-approved offer?

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 19:00:50 GMT

@Anonymous wrote:
@Anonymous wrote:
Check your experian report something spooked them.
My EX score is down, but been down before like this. Other than that, nothing unusual

How many points is "down"?

What is the reason it's down? Utilization, new accounts?

Re: Amex CLD

UpperNwGuy — Sun, 27 Aug 2017 19:49:31 GMT

Sounds to me like they saw your Experian score go down and then realized (to their dismay!) that they had just extended you additional credit by giving you the new PRG. They decided to take back some (or all) of that additional credit from two of your older Amex cards rather than taking back the PRG.

Re: Amex CLD

AverageJoesCredit — Sun, 27 Aug 2017 19:48:14 GMT

Sorry Meatman. Unfortunately, when things happen on our reports it definitely can affect our creditors and Amex is certainly a lender who probably sees your report every month considering we get a free fico score each month. So if your Ex drops they will know it and maybe depending on what caused the drop will take certain steps in accordance. Please update us on what kind of drop youve experirnced and perhsps why so we dont get a million and 1 hypotheticsls. This could provide good data points for your fellow Amex brethern

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 19:58:57 GMT

Actually, I am OK now. Sh** happens. My NFCU cards just went up by 13k....One of my Sync accounts went up 6k....and Disco went up 1500----So, its all good. I will sit back, garden for a while and in a couple months when my scores are back up...or maybe after my next NFCU CLI---I will try to regain some credit from Amex---if not, no biggie. I think it will be not only restored, but will be higher than when they decreased it. Amex is a score driven Company--IMHO

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 20:06:54 GMT

@Anonymous wrote:
Actually, I am OK now. Sh** happens. My NFCU cards just went up by 13k....One of my Sync accounts went up 6k....and Disco went up 1500----So, its all good. I will sit back, garden for a while and in a couple months when my scores are back up...or maybe after my next NFCU CLI---I will try to regain some credit from Amex---if not, no biggie. I think it will be not only restored, but will be higher than when they decreased it. Amex is a score driven Company--IMHO

Thanks for your response meatman1. What was your total utilization when AMEX did the CLD. This will be extremely important data points. Thanks!

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 20:08:24 GMT

18%

Re: Amex CLD

CreditCuriosity — Sun, 27 Aug 2017 20:14:04 GMT

Weird something spooked them as 18% utilzation isn't horrible. Assume you were making much greater than min payments on their cards? IMO Amex is an income driven company vs. score at least in my case. They like to see good DTI and higher income so they can get the swipe fees, etc.. Anyways let us know what they have to say when you get the letter please. Thanks and good luck on getting it back whenever your 180 days is up and whatever the issue was they mention has been addressed

Re: Amex CLD

UpperNwGuy — Sun, 27 Aug 2017 20:24:09 GMT

Your most recent Experian credit score should include a section entitled "See what's affecting your FICO score." I'm sure that whatever is written in that section is also what's spooking Amex. From your responses, I'm going to guess that "lots of recent new credit" is at least one of the reasons.

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 20:30:42 GMT

Could be. I've gotten a bit of new credit lately. Funny thing..I been with them about 18-20 months. Never received a CLI...tried many Times. Usually my Amex cards are Pif....

Re: Amex CLD

Gmood1 — Sun, 27 Aug 2017 21:14:25 GMT

Sorry for your troubles meatman. I doubt new accounts has anything to do with it. I'm a poster child for new accounts lol. Amex was the 3rd card I owned out of 37 over the last two and a half years.
Sure seems unusual for Amex.
Amex is the one company, even when they offer 0% for so many months I pass on it.
They seem a little sensitive to people carrying balances. Not sure if that is the case for you.
Plenty of credit out there..even if it's not through Amex..that is for sure.

Re: Amex CLD

Anonymous — Sun, 27 Aug 2017 22:09:25 GMT

I have a balance on the Delta...made min payments for 6 months. Could be for that one. The BC tho was no balance. So, who knows.....no biggie. All good in my credit world

Re: Amex CLD

AverageJoesCredit — Sun, 27 Aug 2017 22:22:15 GMT

Agree with Gmood1, i have a couple new accounts these past couple months, 3 of them them lol, and my income is fiddle to everyone elses faddle. Though i have a 5% overall utilization, im carrying a 62% balance on my Boa, bts, and so far havent spooked them . But i guess one doesnt know. Lol, im trying to keep my other cards pif so if anyone wants to cld or blue envelope, i just use my orher lenders

Re: Amex CLD

CreditCuriosity — Sun, 27 Aug 2017 22:47:49 GMT

@Anonymous wrote:
I have a balance on the Delta...made min payments for 6 months. Could be for that one. The BC tho was no balance. So, who knows.....no biggie. All good in my credit world

Sounds like the reason is right there most of min payment for 6 months. As long as you have other CC's that suit your need then the CLD shouldn't hurt to bad as doesn't seem like a big one.