topic Re: AMEX credit limit decrease in Credit Cards

AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 14:38:32 GMT

I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)

AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO

AMEX - Hilton Honors - Was $3,000 now down to $1,000

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts.

Taking THREE duplicate payments when their website was freezing (And they even took them after I called)

Poor customer service

Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them.

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child! The customer service is a complete and total joke.

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts!

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online!

{Moderator Edit - While you can state that you had difficulties with customer service, it is not necessary to comment on nationalities, etc. Please see - https://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrations/m-p/96063

BEWARE!

Re: AMEX credit limit decrease

CreditCuriosity — Fri, 15 Nov 2019 14:21:55 GMT

@Anonymous I moved your post into a seperate thread as you should get more help this way. Appears you are getting balanced chased by Amex, not just a CLD due to making the credit line more in line with what Amex think they should be as what the other thread was about.

Re: AMEX credit limit decrease

Remedios — Fri, 15 Nov 2019 14:32:21 GMT

Entire thread is filled with praise because in general Amex is good, stable and solid lender.
I appreciate you sharing your story on what Amex did.
Perhaps now you could share what you did in terms of carrying balances, rise in utilization, unusual spending
They do what they do to mitigate percieved risk and curb risky behaviors

Re: AMEX credit limit decrease

ChessChik47 — Fri, 15 Nov 2019 14:33:33 GMT

I'm curious as to what your entire profile looks like...fico scores, other cards, utilization, etc. Most banks don't CLD for no reason and they certainly don't do it to "get back at you". They are in the business of making money, it's not personal, though it may feel personal to you. You're a number to them. We all are.

I've never had an issue with AMEX. I get great customer service the couple of times I've called, but clearly YMMV.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 14:37:41 GMT

Brian, well alright, if you say so... lets go with the best route but it does sort of bother me that the other thread was all sunshine and butterflies.. odd..

Have serious trust issues when it comes to AMEX.. Sorry.

Edit - still trying to figure out how to quote people. For that guy asking for more details I posted a link, I would think a flawless payment history and lots of equity would say it all... I don't take out credit cards to leave them in the sock drawer, I am a small business owner in business since 2001.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 14:38:16 GMT

That's a truly baffling set of occurrences on your accounts... I went and read the whole story and the only thing that I can think of is that you are carrying a balance on one or more cards, their limits got slashed, AMEX responded with slashing limits as well.

I noticed that you said that you always kept your cards under 30% -- did you have multiple cards carrying balances and not paid in full? Some lenders are more sensitive to revolving balances on any accounts, not just theirs, and AMEX is one of those sensitive lenders.

Normally if you call them at the number provided they will tell you what they expect from you to have your limit restored -- it usually involves some significant pay down of the debt that is bothering them over a month or two but AMEX is very good about restoring your full limit if you meet what they ask you to do.

One more thing, it doesn't hurt your credit to close cards. If you cannot get Citi and AMEX to restore your limits, closing those cards won't affect you until those accounts age off up to 10 years later. Since they have cut your limits so low, utilization should be a non-issue. I certainly wouldn't keep cards that slashed my limits so much.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 16:54:17 GMT

@Anonymous wrote:
I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)
AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO
AMEX - Hilton Honors - Was $3,000 now down to $1,000

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts.
Taking THREE duplicate payments when their website was freezing (And they even took them after I called)
Poor customer service
Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them.

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child!

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts!

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online!

BEWARE!

<Mod Edit: Also removed your hyperlink as has alot of political stuff on other site that I don't want to flow into this site on your post there.>

I'm typing a short version of my reply. I posted it and it failed because the thread was moved:

What is your total utilization (on all cards)?

Have you done anything unorthodox with Amex?

If you have high util, did you take a cash advance?

Is there anything else you did with Amex that they might find suspicious?

Anything else show up on your credit report that you may not even be aware of?

This isn't random. Something triggered it. I wouldn't say stay away from Amex, because myself and others think they have great products. Situations vary between individuals.

Re: AMEX credit limit decrease

Brian_Earl_Spilner — Fri, 15 Nov 2019 14:38:59 GMT

@Anonymous wrote:
Brian, well alright, if you say so... lets go with the best route but it does sort of bother me that the other thread was all sunshine and butterflies.. odd..

Have serious trust issues when it comes to AMEX.. Sorry.

Edit - still trying to figure out how to quote people. For that guy asking for more details I posted a link, I would think a flawless payment history and lots of equity would say it all... I don't take out credit cards to leave them in the sock drawer, I am a small business owner in business since 2001.

Trust me, there's plenty of criticism for all lenders on here. This thread could help to shed some light on your situation.

Re: AMEX credit limit decrease

Remedios — Fri, 15 Nov 2019 14:48:54 GMT

@Anonymous wrote:
I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)
AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO
AMEX - Hilton Honors - Was $3,000 now down to $1,000

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts.
Taking THREE duplicate payments when their website was freezing (And they even took them after I called)
Poor customer service
Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them.

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child! The customer service is a complete and total joke.

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts!

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online!

{Moderator Edit - While you can state that you had difficulties with customer service, it is not necessary to comment on nationalities, etc. Please see - https://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrations/m-p/96063

BEWARE!

<Mod Edit: Also removed your hyperlink as has alot of political stuff on other site that I don't want to flow into this site on your post there.>

I'm out

Re: AMEX credit limit decrease

CreditCuriosity — Fri, 15 Nov 2019 14:51:32 GMT

I did split it to give you the "spotlight" as the other post would of most likely got no responses and look what you are getting already .. BTW welcome to the forum and alot of people here don't praise AMEX either

Re: AMEX credit limit decrease

trant3 — Fri, 15 Nov 2019 14:55:01 GMT

OP's comments seems to contain many subjective thoughts about Amex (i.e being sexist), I highly doubt that. It is true that Amex is balance chasing, but that may just be it. I've been with Amex for 10 years and have had no issues, literally zero.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 14:57:44 GMT

Remedios - What I did? You have to be kidding! All I ever did was pay these people on time!

Don't get me wrong, it's a free country but if a credit card company does not want to make interest on a balance, or if it cannot maintain such balance - then perhaps they shouldn't be in the finance business? As a small business owner I though AMEX was better suited to handle such things and when I needed them they couldn't pony up the dough! How is that my fault? Discover didn't flinch! Didn't even bother me with any calls either! Probably because it was a local hometown transaction.

You claim AMEX is good and stable/solid lender but that is not always true! I felt my bad experience had merit in the original thread it was posted in because the entire thread made me want to vomit when I read it... my response being moved just re-affirms my belief that it was and still is a "doctored" thread. Why? Because it has foot traffic off Google.

Re: AMEX credit limit decrease

CreditCuriosity — Fri, 15 Nov 2019 15:04:47 GMT

@Anonymous wrote:
Remedios - What I did? You have to be kidding! All I ever did was pay these people on time!

Don't get me wrong, it's a free country but if a credit card company does not want to make interest on a balance, or if it cannot maintain such balance - then perhaps they shouldn't be in the finance business? As a small business owner I though AMEX was better suited to handle such things and when I needed them they couldn't pony up the dough! How is that my fault? Discover didn't flinch! Didn't even bother me with any calls either! Probably because it was a local hometown transaction.

You claim AMEX is good and stable/solid lender but that is not always true! I felt my bad experience had merit in the original thread it was posted in because the entire thread made me want to vomit when I read it... my response being moved just re-affirms my belief that it was and still is a "doctored" thread. Why? Because it has foot traffic off Google.

Certain lenders like certain things.. Amex will balance chase if you have high balances with them for extended times or see high balances on other lenders for extended times getting paid down slowly. Certain lenders like certain things.. Now lenders that love to see balances would be lenders like Cap1 and Discover and various CU's they don't mind you carrying balances for long periods of time so they make interest off said interest. Lenders like Amex, BofA, Chase etc will start to get a bit scared if large balances for prolonged times are being paid down slowly or continue to grow balances while paying down slowly. Each lender has their target audience.

Re: AMEX credit limit decrease

ChessChik47 — Fri, 15 Nov 2019 15:04:02 GMT

@Anonymous wrote:
Remedios - What I did? You have to be kidding! All I ever did was pay these people on time!

Don't get me wrong, it's a free country but if a credit card company does not want to make interest on a balance, or if it cannot maintain such balance - then perhaps they shouldn't be in the finance business? As a small business owner I though AMEX was better suited to handle such things and when I needed them they couldn't pony up the dough! How is that my fault? Discover didn't flinch! Didn't even bother me with any calls either! Probably because it was a local hometown transaction.

You claim AMEX is good and stable/solid lender but that is not always true! I felt my bad experience had merit in the original thread it was posted in because the entire thread made me want to vomit when I read it... my response being moved just re-affirms my belief that it was and still is a "doctored" thread. Why? Because it has foot traffic off Google.

Sorry, but you are absolutely wrong here. This forum doesn't work like that. The moderators and administrators are very good at what they do and making sure everyone adheres to FSR. Folks have differing opinions and they are all welcome. There's no need to "doctor" a thread on a credit card forum, there's much bigger things to deal with in real life.

Re: AMEX credit limit decrease

CreditCuriosity — Fri, 15 Nov 2019 15:06:51 GMT

Also what we do is VOLUNTEER work. We are not affiliated with the site or paid in any way, we do it to pay back the forum for helping us with what we have learned.. At least that is why I choose to moderate as it truly is a thankless job.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 15:19:55 GMT

CardNut,

Of course my ratios are whacked now! I took a $40,000 credit line hair cut!

It's a real shame the moderator removed my link, the evidence was devastating against American Express! They claim they don't want to get political in here but the most recent cut in my credit came after a political donation.

I too agree that politics has no place in finance! But it was the last purchase of the cycle before my credit limit was cut! That is a fact! So as much as I would like these companies headquartered in New York to play fair, it's not happening.

Sexism I can prove because my wife and I file jointly - we have the same income! Yet they did not wack her credit line AND she has a much lower interest rate! When I had her call and remove me as an authorized user she had it on speakerphone and they must have assumed we were getting a divorce because they kept on apologizing and telling her that they "had her back"! LOL, we both looked at each other and laughed because we knew the reason I was being removed is because I am about to file a federal case against them here in Detroit.

I should also mention that AMEX reported me as an authorized user on her card to the credit reporting companies, yet she is an authorized user on ALL THREE of my cards and they aren't reported on hers!

They are VERY Sexist! I have proof! But the link to the proof was hidden by the Mod's, just like the thread was originally moved - although I have since read that it's in both places. Thanks, I think! lol

I am trying to keep up and I would really like to answer everyone specifically but I am having trouble figuring out how to quote people. Taking me a bit to get my head around this format.

Re: AMEX credit limit decrease

ChessChik47 — Fri, 15 Nov 2019 15:20:17 GMT

@Anonymous wrote:
CardNut,

Of course my ratios are whacked now! I took a $40,000 credit line hair cut!

It's a real shame the moderator removed my link, the evidence was devastating against American Express! They claim they don't want to get political in here but the most recent cut in my credit came after a political donation.

I too agree that politics has no place in finance! But it was the last purchase of the cycle before my credit limit was cut! That is a fact! So as much as I would like these companies headquartered in New York to play fair, it's not happening.

Sexism I can prove because my wife and I file jointly - we have the same income! Yet they did not wack her credit line AND she has a much lower interest rate! When I had her call and remove me as an authorized user she had it on speakerphone and they must have assumed we were getting a divorce because they kept on apologizing and telling her that they "had her back"! LOL, we both looked at each other and laughed because we knew the reason I was being removed is because I am about to file a federal case against them here in Detroit.

I should also mention that AMEX reported me as an authorized user on her card to the credit reporting companies, yet she is an authorized user on ALL THREE of my cards and they aren't reported on hers!

They are VERY Sexist! I have proof! But the link to the proof was hidden by the Mod's, just like the thread was originally moved - although I have since read that it's in both places. Thanks, I think! lol

I am trying to keep up and I would really like to answer everyone specifically but I am having trouble figuring out how to quote people. Taking me a bit to get my head around this format.

Go to the post you want to quote, hit reply, then hit the quote button.

Re: AMEX credit limit decrease

CreditCuriosity — Fri, 15 Nov 2019 15:21:12 GMT

Alight... @Anonymous please read this. We don't allow ANY political talk among other things on this forum, this isn't optional. Please read the TOS of the forum prior to post again while I clean up some of your post. We have no agenda here, but to try to help out other people. We do censor stuff as if we didn't the forum would be the wild west and be arguing back and forth and that simply isn't an option that we will allow.

Five things we don't discuss on myFICO: http://ficoforums.myfico.com/t5/User-Guidelines-General/5-Things-We-Don-t-Talk-About/td-p/336929

Re: AMEX credit limit decrease

Physh1 — Fri, 15 Nov 2019 15:35:01 GMT

I've seen both sides of Amex over the years...I've been a cardholder since 2001. I was very happy with them for years....I hit financial hardship around 2009 & maxed out some cards (not Amex) to float myself...ended up burning a few creditors badly...MBNA & Cap1 specifically. Amex was very very proactive & unfriendly about reducing my limits (even though I was keeping up with them fully...actually PIF on all accounts every time). I didn't like this BUT understood it when I took a clear neutral look at things. My scores in a quick time dropped from the mid 700's to the 500's...

Now that I'm in better shape again Amex has been quite generous with me. You don't mention any conversations with Amex in detail...I bet you've talked to them. Have they shared a reason? Something has them spooked...sometimes it's computers making the decisions while sometimes it's a manual review. They see something that they don't feel comfortable with. There is always a reason. Amex, like every other creditor, wants to make money. In this case, for some reason, the need to make money is being overrode by some self protection need. You're pretty upset, which I understand, but I'd suggest you clear your head & look at things less passionately & more neutrally.

You make mention of you 2 having the same reported income but different APR's. You should know that income is not the sole determination of limits, APR, etc. There are dozens of variables considered...each will be profile specific. The APR differences & your mention of AU reporting doesn't really make sense to me. In one case you benefit & in the other your wife does. I don't see that as sexist in any way. Either way...personally, you seem so jaded over this subject. I'd find another creditor that works with you in a way you find helpful. You don't want to follow the TOS here...probably because you didn't read it...there are rules to work with...here, with your creditors, with life. Sometimes there are disagreements...might be time to simply cut your losses & move on from Amex.

Re: AMEX credit limit decrease

Anonymous — Fri, 15 Nov 2019 15:30:09 GMT

@Anonymous wrote:
CardNut,

Of course my ratios are whacked now! I took a $40,000 credit line hair cut!

It's a real shame the moderator removed my link, the evidence was devastating against American Express! They claim they don't want to get political in here but the most recent cut in my credit came after a political donation.

I too agree that politics has no place in finance! But it was the last purchase of the cycle before my credit limit was cut! That is a fact! So as much as I would like these companies headquartered in New York to play fair, it's not happening.

Sexism I can prove because my wife and I file jointly - we have the same income! Yet they did not wack her credit line AND she has a much lower interest rate! When I had her call and remove me as an authorized user she had it on speakerphone and they must have assumed we were getting a divorce because they kept on apologizing and telling her that they "had her back"! LOL, we both looked at each other and laughed because we knew the reason I was being removed is because I am about to file a federal case against them here in Detroit.

I should also mention that AMEX reported me as an authorized user on her card to the credit reporting companies, yet she is an authorized user on ALL THREE of my cards and they aren't reported on hers!

They are VERY Sexist! I have proof! But the link to the proof was hidden by the Mod's, just like the thread was originally moved - although I have since read that it's in both places. Thanks, I think! lol

I am trying to keep up and I would really like to answer everyone specifically but I am having trouble figuring out how to quote people. Taking me a bit to get my head around this format.

What was your util BEFORE the cut?

And yes, we are trying to figure out the cause, outside of you calling them directly, which in almost all cases, the best way to find out.

If the "unusual" or "unorthodox" event I questioned actually was a donation, that would be interesting. If it were, that eliminates a call from you to Amex, as they would not tell you that's the reason.

Someone could try a donation to <mod removed> to see if it is the cause. I'm doubting it, but in today's world, we've seen people thrown out of restaurants because of it. I might try it. My experience with Amex has been great. If I do it, and get whacked, then we all need to go hmmmmm.

FYI, last month I have a donation on my Amex to <mod removed>. My account has not been changed.