topic Re: AMEX cut my BCE CL in half in Credit Cards

AMEX cut my BCE CL in half

3bcswins3 — Thu, 02 Jan 2020 20:06:12 GMT

Amex cut my limit from $34,500 to $17,250. I haven't come anywhere close to my limit and my balance is usually under $100 as I PIF. I called the number on the back of my card to see if they would change it back and they said I'd have to submit a CLI request and they might perform a hard pull. I decided against that because I don't want a hard pull against my credit at this time. I saw on the forums several people have had their CL's cut, but I thought most people were getting it returned to its original state after a phone call. Has anyone had any experience with this and have they charged a hard pull to get the original CL back?

Re: AMEX cut my BCE CL in half

elixerin — Thu, 02 Jan 2020 20:17:52 GMT

if you only use $100 on 34K limit it seems justified? even with 17k $100 is less than 1 percent utilization... i would suggest using more on the card then circle back tbh

Re: AMEX cut my BCE CL in half

FinStar — Thu, 02 Jan 2020 20:28:43 GMT

Most of the reported instances have pointed out being able to restore it without issue, but it's uncertain if they've changed things recently. It's doubtful it'd result in a HP.

That said, if you are sparingly using the card (or leaving it inactive for a long period), then I would expect a similar CLD outcome in the future. How much activity did you place during 2019?

For your reference, previous similar topics discussed:
https://ficoforums.myfico.com/t5/Credit-Cards/Amex-CLD-by-50/m-p/5633077

https://ficoforums.myfico.com/t5/Credit-Cards/Another-DP-regarding-AMEX-CLD-account-reviews/m-p/5574896

Re: AMEX cut my BCE CL in half

Anonymous — Fri, 03 Jan 2020 01:57:30 GMT

How about your other cards/balances? Any recent significant spend? Has your utilization increased significantly? Any lates? Did you enter income on the Amex site? A lot of times its what's happening with your other accounts that can trigger a CLD.

Re: AMEX cut my BCE CL in half

Anonymous — Wed, 09 Sep 2020 07:55:15 GMT

Amex has been cutting credit limits recently. The limit on my BCP is $6000. It has been there for 2 years now. I'm not sure just how high I would bring it, but given the recent history, with the cutting credit limits, probably not very high. They seem to be thinking there's no reason for these 30K+ limits.

Re: AMEX cut my BCE CL in half

Anonymous — Sat, 04 Jan 2020 04:05:09 GMT

@Anonymous wrote:
Amex has been cutting credit limits recently. The limit on my BCP is $6000. It has been there for 2 years now. I'm now sure just how high I would bring it, but given the recent history, with the cutting credit limits, probably not very high. They seem to be thinking there's no reason for these 30K+ limits.

They cut others while raising some. Not sure why. They might want to keep CLs competitive with other cards, who knows.