topic Re: Amex Fail...what is wrong with them? in Credit Cards

Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 19:40:35 GMT

I am dumbfounded...I went years with the BCP card with no issues, but recently decided to get the Magnet as well. Thus began my journey into a ridiculous morass of incompetence. After approval, for some strange and unknown reason they decided to remove about 6000 dollars of my 12,700 dollar limit from my BCP and add it to my not yet received Magnet card. I called the CSR to undo their mess and asked them to just move enough back to have both cards with 10k in limits. This would have required moving 3300 dollars back to the BCP as the limits showed 6700 on the BCP and 13,300 on the Magnet. They proceeded with the change...THE WRONG WAY...they moved an additional 3300 from the BCP to the magnet. So then the Magnet is at 16,600 and the BCP is now at 3400 dollars. I called them back to hopefully straighten this mess out, and they told me it might take 7-10 days. Today I receive a letter saying they only allow one limit reallocation per month as a reason to decline the reallocation. I called them back, so I wait with great fear for the end results. I now know why they named that new card Magnet, it is because like a magnet, it attracts the credit limits from other cards. My once proud BCP 12,700 limit has been reduced to a pale shadow of it's former glory as the new Magnet exerts it's dominance with a 16,600 dollar limit.

Re: Amex Fail...what is wrong with them?

Brian_Earl_Spilner — Tue, 05 May 2020 19:55:08 GMT

It was a mistake and I'm sure they'll fix it. In the meantime, do you spend more than $3000 in groceries for a trip? Luckily, they give you immediate credit for a payment.

Re: Amex Fail...what is wrong with them?

simplynoir — Tue, 05 May 2020 19:55:59 GMT

Honest question when I ask why do you need such a big limit on a category card like the BCP anyways?

Re: Amex Fail...what is wrong with them?

Anonymous — Tue, 05 May 2020 20:04:40 GMT

Not the end of the world. After 30 days, you can relocate the credit however you like it on the Amex's website. Until then, $3k is plenty for grocery!

Re: Amex Fail...what is wrong with them?

KJinNC — Tue, 05 May 2020 20:06:00 GMT

Sorry to hear they made an error and then a compounding error. The good news is that in the long run, it won't matter.

If they won't or can't waive the time limit, you can just have it switched in a month. By the way, you can also do this yourself on the web site. Go to Account Services and you should find it under one of the left navigation links.

Re: Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 20:07:06 GMT

I will never have close to that on any card, but since I added my sister as AU to the BCP a 600 dollar balance is frequently on the card. This might result in an individual card utilization that exceeds the 9% threshold that I try to keep all cards under. It will be PIF of course, but could report if not paid before a statement cuts.

Re: Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 20:14:53 GMT

@KJinNC wrote:
Sorry to hear they made an error and then a compounding error. The good news is that in the long run, it won't matter.

If they won't or can't waive the time limit, you can just have it switched in a month. By the way, you can also do this yourself on the web site. Go to Account Services and you should find it under one of the left navigation links.

I did not know that I could adjust that myself, so yes, it may be an easy fix in 30 days. I am not, and have not really been upset about this. I just thought it was hilarious how this went. I actually busted out laughing while reading the reason for not doing the reallocation when I never asked them to reallocate the limits to start with.

Re: Amex Fail...what is wrong with them?

RSX — Tue, 05 May 2020 20:16:34 GMT

grr - frustrating for sure

but even if that one month gets reported over 9%, you know the following month it won't and you will get your points back

i get it though - best laid plans...

Re: Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 20:22:10 GMT

@Anonymous wrote:
Not the end of the world. After 30 days, you can relocate the credit however you like it on the Amex's website. Until then, $3k is plenty for grocery!

No it is not, but the changes made and how they were made were just to humerous to not post about it. It is hilarious to me, I am not mad about it, just amused.

Re: Amex Fail...what is wrong with them?

Remedios — Tue, 05 May 2020 20:28:47 GMT

I dont think you have to worry about utilization, card most likely wont report till the second statement, so you'll have plenty of time to get it fixed

Re: Amex Fail...what is wrong with them?

Anonymous — Tue, 05 May 2020 20:33:35 GMT

@Remedios wrote:
I dont think you have to worry about utilization, card most likely wont report till the second statement, so you'll have plenty of time to get it fixed

It's the BCP with the small limit (now) and that's the older card, so it will report.

Re: Amex Fail...what is wrong with them?

Remedios — Tue, 05 May 2020 20:37:25 GMT

@Anonymous wrote:
@Remedios wrote:
I dont think you have to worry about utilization, card most likely wont report till the second statement, so you'll have plenty of time to get it fixed
It's the BCP with the small limit (now) and that's the older card, so it will report.

Okay, fine. I take it back.

Re: Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 20:56:20 GMT

@Remedios wrote:
I dont think you have to worry about utilization, card most likely wont report till the second statement, so you'll have plenty of time to get it fixed

I really do not get upset about anything related to credit or credit cards actually. It is just a sometimes amusing pastime. I would not even consider it a tragedy if they closed all my cards and set my fico score at 350. It would mean debit cards, checking accounts and maybe even pre-paid cards would be used, but my finances would be fine. I am one of the few people who really does not need credit at all. My debt is about 20k total and I have about 400k in savings, so credit is just not worth any real concern or worry. I have health issues that are very real problems that I have to take serious, but finances are just not an issue at all anymore. Credit scores and credit cards are more like a game to me, and something to avoid boredom. I could travel the World with my financial situation, but due to my health issues, I could not enjoy it, or anything else to risks me being far from a rest room. Many are now staying in place for the first time. I have done so for 7 years, so this pandemic changed nothing for me. The permenant damage to my spinal cord from extreme stenosis followed by 4 level ACDF surgery took all other worries in life away in 2013. I can't work, can't enjoy travel, so it might be nice having a lot of money, but the ability to really enjoy that wealth has eluded me. I do however make the best I can of a bad situation.

Re: Amex Fail...what is wrong with them?

wasCB14 — Tue, 05 May 2020 21:48:24 GMT

I see someone already mentioned you can reallocate limits yourself (after the wait) online.

So I'll just add that I've endured high utilization and apparent CLDs before (the new bigger line on BBP after I reallocate does't report personally) without AA.

Re: Amex Fail...what is wrong with them?

NRB525 — Tue, 05 May 2020 22:12:05 GMT

Congrats on your really good FICO scores. This will sort out in time

Re: Amex Fail...what is wrong with them?

BearsCubsOtters — Tue, 05 May 2020 22:21:44 GMT

That is frustrating. As others have said you will be able to go online in a month and move the limits back.

When I opened my BBC, they took $5000 from my little used BCE to help fund the new BBC's $13,000 limit....why not just open the BBC with $8000? When I called to inquire I was told that credit lines can be reallocated from personal to business but not from business to personal. Never mind that I have two other business Amex cards that they could have pirated from....so in my situation I am stuck unless I request a CLI on the BCE.

It is very irretating for sure. I wish they would contact us first to determine if that is what we want.

Re: Amex Fail...what is wrong with them?

wasCB14 — Tue, 05 May 2020 22:37:32 GMT

@BearsCubsOtters wrote:
That is frustrating. As others have said you will be able to go online in a month and move the limits back.

When I opened my BBC, they took $5000 from my little used BCE to help fund the new BBC's $13,000 limit....why not just open the BBC with $8000? When I called to inquire I was told that credit lines can be reallocated from personal to business but not from business to personal. Never mind that I have two other business Amex cards that they could have pirated from....so in my situation I am stuck unless I request a CLI on the BCE.

It is very irretating for sure. I wish they would contact us first to determine if that is what we want.

$8k is not peanuts compared to $13k. It's not like they couldn't have approved the card at all, or only for $1k or $2k, without reallocating.

Perhaps they figure the least-used card would be the least-missed, and that someone with three business cards from them is too busy to micromanage.

I hit my BBP cap in 2018 and 2019, so I don't mind a big CL there!

Re: Amex Fail...what is wrong with them?

sarge12 — Tue, 05 May 2020 23:29:06 GMT

@wasCB14 wrote:
@BearsCubsOtters wrote:
That is frustrating. As others have said you will be able to go online in a month and move the limits back.

When I opened my BBC, they took $5000 from my little used BCE to help fund the new BBC's $13,000 limit....why not just open the BBC with $8000? When I called to inquire I was told that credit lines can be reallocated from personal to business but not from business to personal. Never mind that I have two other business Amex cards that they could have pirated from....so in my situation I am stuck unless I request a CLI on the BCE.

It is very irretating for sure. I wish they would contact us first to determine if that is what we want.
$8k is not peanuts compared to $13k. It's not like they couldn't have approved the card at all, or only for $1k or $2k, without reallocating.

Perhaps they figure the least-used card would be the least-missed, and that someone with three business cards from them is too busy to micromanage.

I hit my BBP cap in 2018 and 2019, so I don't mind a big CL there!

Exactly, I had no clu they would raid my BCP card to boost the limit of the magnet, and even less clue that the attempt to reverse that would make it worse. On the bright side, the 6600 dollars needed to reach the desired 10k can not now be taken from the wrong card. They don't supply negative credit limits to the best of my knowledge.

Re: Amex Fail...what is wrong with them?

Anonymous — Wed, 06 May 2020 18:05:54 GMT

Frustrating for sure, but it's a known issue that Amex will borrow CL from one card to approve the new one. I think going on the offensive before the dust even settled is what caused your predicament though. Sometimes things are just better off when left alone, at least until one can approach it more level headed and informed.

Also, I would have thought it common knowledge about CL reallocation every 30 days as much as it's brought up. And that you could ahev just fixed the issue on your own. This wouldn't be the first time someone has called in getting the exact opposite of what they requested.

At least it was a learning moment.

Re: Amex Fail...what is wrong with them?

sarge12 — Wed, 06 May 2020 21:46:25 GMT

@Anonymous wrote:
Frustrating for sure, but it's a known issue that Amex will borrow CL from one card to approve the new one. I think going on the offensive before the dust even settled is what caused your predicament though. Sometimes things are just better off when left alone, at least until one can approach it more level headed and informed.

Also, I would have thought it common knowledge about CL reallocation every 30 days as much as it's brought up. And that you could ahev just fixed the issue on your own. This wouldn't be the first time someone has called in getting the exact opposite of what they requested.

At least it was a learning moment.

Not really a huge issue at all, but the way it went down was just somewhat amusing, so I posted it here. It was more the comical element that led to posting this. Trust me, I do not lose sleep over credit card issues ever. The only reason I have so many cards is to extract rewards, which I don't need, for mainly entertainment value. I really don't need credit, credit cards or reward dollars now. I could in fact pay every single debt off with over 350k to spare. The credit card game is fun to play though, but if real stress happened due to cards, I would close them all and quit the game. Being disabled with spinal cord damage, and 24 hours of time to fill, it gives me something to do.