topic Re: How often can Amex adjust your limit? in Credit Cards

Amex Account Health/Status Question

Tomew2000 — Mon, 03 Sep 2018 23:46:32 GMT

I’ve been told that they can adjust every 6 months? Anyone have solid info on this? Is there anyway to know in advance if they’re looking at your account?

Re: How often can Amex adjust your limit?

Anonymous — Sun, 02 Sep 2018 19:30:11 GMT

You can request a CLI every six months. But, are you asking if they initiate a reveiw, possible CLD, every six months?

Re: How often can Amex adjust your limit?

Anonymous — Sun, 02 Sep 2018 20:11:00 GMT

https://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/m-p/1811071#M5911

Read the first 10 pages to learn how everything work and timeline, then read the last 10 pages for recent data point and changes.

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 00:03:39 GMT

I’m not talking about a formal financial review. Some times they will lower your limit without one. I’m wondering about that. I’ve had it happen 4 times over the past 6-7 years. I’m wondering what triggers it

Re: How often can Amex adjust your limit?

Anonymous — Mon, 03 Sep 2018 00:10:19 GMT

Ok, I thought you were talking about CLIs my bad.

Amex is known to CLD or balance chase when you carry high balance for a long period of time while paying only the minimum, this is why it's often recommended on this board to always pay more than the minimum payment. Amex will also CLD if you run the high balance on your other cards.

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 00:38:07 GMT

Any idea how often they can do that?

Re: How often can Amex adjust your limit?

Anonymous — Mon, 03 Sep 2018 00:50:01 GMT

I have never heard of such time constraint, if the risky behavior continues, they reserve the rights to change the terms or even close the account with balance. Are there reasons why you think they're looking at you? Are you being balance chased?

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 00:54:47 GMT

I’ve been in the past, as I mentioned. They put me under financial review in March. Things been fine since then, but the 6 month mark is coming up

Re: How often can Amex adjust your limit?

Anonymous — Mon, 03 Sep 2018 02:08:53 GMT

It's all based on your credit profile. If you were hit with FR in March, it was because your profile in March prompted it. The question then is how does your profile look today relative to it last March? If it has improved, no bubbles no troubles and I think you have little to worry about. If it's worse, that's not a good thing. If it's the same, I'd actually consider that "worse" in the eyes of Amex as if it was in a place 6 months ago to prompt FR, if you're still in the same place today it means you've been there for 6 months, which isn't a favorable sign.

Re: How often can Amex adjust your limit?

iv — Mon, 03 Sep 2018 03:23:27 GMT

@Tomew2000 wrote:
Any idea how often they can do that?

They can CLD you as often as they wish... but it would likely only happen when your account activity raises a red flag to them, or when they do a monthly AR credit pull and don't like what they see there.

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 10:55:18 GMT

The review was actually prompted by an unwitting mistake on my part. I’d purchased a desk from my ex wife’s antique store. She’s a cardholder on my account. I found out afterwards that that’s a major and hard “no”. In fact, they normally close your account for that. Hence it forced a review and a CLD

My financial picture is roughly the same as then. I seem to remember during the process there, someone at Amex telling me that they could only do that every 6 months, by law. In retrospect, I’m not sure whether the gentleman was referring to financial review or CLD.

I’ve actually thought about simply calling and checking on my count status, but am afraid the call in itself may be a red flag

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 11:14:16 GMT

I was reading through. Thanks. I don’t see, however in the first or last 10 pages anything related to CLD. Just CLI. Did I miss something?

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 12:24:17 GMT

Yes. Exactly

Re: How often can Amex adjust your limit?

Tomew2000 — Mon, 03 Sep 2018 16:44:08 GMT

Yes. I had a conversation with someone there when I was under Review. He had mentioned that they were only allowed by law to do that every 6 months. In retrospect, I’m not sure whether he meant a formal review or whether that applied to CLDas well

Re: Amex Account Health/Status Question

Tomew2000 — Mon, 03 Sep 2018 23:48:52 GMT

I’ve been trying to ascertain my standing with Amex.(Apologies to those that read my last post, it’s repetitive. It occurred to me that I’m not asking the right question) I went through review last March, after being a card member for 33 years. It wasn’t due to my credit, but a purchase I made from my ex wife’s store(she had a card on my account) . That resulted in a CLD of $6000. Over the past few up and down years, I’ve had a few CLDs(no other review) , as well as CLIs.

Currently, I have a “hard” limit due to the review, but when I try the “check your spending power” it says that they will allow me $25000 over my limit. I’ve called in about that, and the CSR says it’s not an error. Any input on that would be interesting to hear

At any rate, Sept is the 6 month mark since the review. I’d like to be prepared if there’s another CLD coming. So, a couple of questions if anyone has any knowledge here

1). After review, do they have to wait 6 months before imposing another CLD? I know review can’t be less than 6 months, but I’m not sure about CLD. If they don’t need to wait to impose a CLD, then I’m probably ok, since my picture has improved since June/July

2) I’ve thought of simply calling them to discuss my account health. That may be a red flag in itself. Any thoughts there?

Thanks for reading this and any advice input. My Amex is my primary tool for running my business, so I’m very concerned about interruptions

Re: Amex Account Health/Status Question

UncleB — Mon, 03 Sep 2018 23:49:12 GMT

Hi @Tomew2000, it is easier to see who you're replying to if you tap the 'quote' button before you type your reply.

How to quote a post: http://ficoforums.myfico.com/t5/Community-Feature-FAQ-s/How-to-Quote-a-Post/td-p/2603189

If you're on mobile you'll need to change to the desktop version of the site; on Android/Chrome tap the 'three dots' and you'll see the option, for iOS the instructions can be found here: https://ios.gadgethacks.com/how-to/safari-101-request-desktop-sites-your-iphone-0163057/

Re: Amex Account Health/Status Question

Anonymous — Mon, 03 Sep 2018 23:49:41 GMT

OP, if you replace "adjust" with"CLD" in the title of your original post, you will probably get more answers from ppl with knowledge about CLDs.

Is he allowed to do that @UncleB ?

T2000

From what I've seen... No, CLDs are not limited to every 6mo. CC companies can CLD, at will, at any time based on your credit behavior. Balance chasing is mentioned in responses to your original post. Per recent posts, it can be monthly, or every time you make a payment. If I remember correctly, in August there were posts about balance chasing, Synchrony was hitting every account the poster had with them. But, I think it also took a tole on that person's Amex.

@Tomew2000 wrote:
I’ve been trying to ascertain my standing with Amex.(Apologies to those that read my last post, it’s repetitive. It occurred to me that I’m not asking the right question) I went through review last March, after being a card member for 33 years. It wasn’t due to my credit, but a purchase I made from my ex wife’s store(she had a card on my account) . That resulted in a CLD of $6000. Over the past few up and down years, I’ve had a few CLDs(no other review) , as well as CLIs.
Currently, I have a “hard” limit due to the review, but when I try the “check your spending power” it says that they will allow me $25000 over my limit. I’ve called in about that, and the CSR says it’s not an error. Any input on that would be interesting to hear
At any rate, Sept is the 6 month mark since the review. I’d like to be prepared if there’s another CLD coming. So, a couple of questions if anyone has any knowledge here
1). After review, do they have to wait 6 months before imposing another CLD? I know review can’t be less than 6 months, but I’m not sure about CLD. If they don’t need to wait to impose a CLD, then I’m probably ok, since my picture has improved since June/July
2) I’ve thought of simply calling them to discuss my account health. That may be a red flag in itself. Any thoughts there?

Thanks for reading this and any advice input. My Amex is my primary tool for running my business, so I’m very concerned about interruptions

Re: Amex Account Health/Status Question

rbentley — Tue, 04 Sep 2018 00:21:33 GMT

@Tomew2000 wrote:
Currently, I have a “hard” limit due to the review, but when I try the “check your spending power” it says that they will allow me $25000 over my limit. I’ve called in about that, and the CSR says it’s not an error. Any input on that would be interesting to hear

I have wondered about this as well. I have a $2,000 CL on my ED card. When I check spending power I can go to at least $5,000. I haven't check higher. What happens if I do make a $5,000 purchase on it?. Is my CL adjusted, even temporarily, up to that amount? Am I now at 250% UTL. Do I need to pay it down below my $2,000 SL before the month is out? Is this a good strategy for gousing up your CL?

Re: Amex Account Health/Status Question

EAJuggalo — Tue, 04 Sep 2018 00:27:50 GMT

My understanding is that everything over the limit would have to be paid down by the due date of that cycle. So if you make a purchase that they allow that puts you over your limit on the 15th, your statement cuts on the 1st you'd have until the 26th to pay that below the limit. I may be incorrect but that is what I recall reading here.