topic Re: Frustrated with AMEX in Credit Cards

Frustrated with AMEX

JM22 — Sat, 10 Dec 2022 17:48:33 GMT

Hi everyone,

I'm looking for some advice on my situation with Amex. I have an Amex Gold card and it has been my go to card for restaurants and groceries since 2019. At some point after covid they removed the NPSL on my card and set a 2k hard limit for reasons I can't remember (maybe a late payment?). It's been annoying the crap out of me because everytime I use the card with the balance over 1k, I get an alert that I may have a transaction declined soon. I know I could just pay it off during the statement period, but I have autopay on to pay the statement balance and it just seems like I shouldn't be dealing with this with a $250 annual fee card. Also, I reviewed my past few years and I only seem to be coming out ahead $100-$150 a year so I am reconsidering anyway.

I have tried recently to add another Amex card like the BCE or BCP with a good grocery bonus so I can phase out from the Gold. I have the CSP which I don't mind fulling going to for dining and travel. I've tried an app for the BCE every two months for the last 6 months. I get a banner that says I'm not qualified for the welcome bonus, then I get declined. When I got the past two letters it was looking at my report from the first time I attempted for the BCE, so no fresh report (SPs obviously). I don't want to close my Gold card without another card with Amex... I feel like that would put me even more on their bad side than I already seem to be.

So what should I do? I'm leaning toward waiting it out until I can qualify for an Amex credit card, then close the Gold. I've also considered downgrading to Green in the meantime as I am rebuilding and it may be a year or so until I get back to where I was a few years ago. My last thought is that I just close the card, end the relationship with Amex and hope that when I do look to come back a few years down the road that they won't hold it against me.

Just to add some stats, I am showing a 690 Experian fico as of today, LOTS of inquiries (hence the rebuild), 115k income, own my house, credit usage is around 15% currently.

Thanks!

Re: Frustrated with AMEX

FireMedic1 — Sat, 10 Dec 2022 18:16:16 GMT

@JM22 wrote:
Hi everyone,

I'm looking for some advice on my situation with Amex. I have an Amex Gold card and it has been my go to card for restaurants and groceries since 2019. At some point after covid they removed the NPSL on my card and set a 2k hard limit for reasons I can't remember (maybe a late payment?). It's been annoying the crap out of me because everytime I use the card with the balance over 1k, I get an alert that I may have a transaction declined soon. I know I could just pay it off during the statement period, but I have autopay on to pay the statement balance and it just seems like I shouldn't be dealing with this with a $250 annual fee card. Also, I reviewed my past few years and I only seem to be coming out ahead $100-$150 a year so I am reconsidering anyway.

I have tried recently to add another Amex card like the BCE or BCP with a good grocery bonus so I can phase out from the Gold. I have the CSP which I don't mind fulling going to for dining and travel. I've tried an app for the BCE every two months for the last 6 months. I get a banner that says I'm not qualified for the welcome bonus, then I get declined. When I got the past two letters it was looking at my report from the first time I attempted for the BCE, so no fresh report (SPs obviously). I don't want to close my Gold card without another card with Amex... I feel like that would put me even more on their bad side than I already seem to be.

So what should I do? I'm leaning toward waiting it out until I can qualify for an Amex credit card, then close the Gold. I've also considered downgrading to Green in the meantime as I am rebuilding and it may be a year or so until I get back to where I was a few years ago. My last thought is that I just close the card, end the relationship with Amex and hope that when I do look to come back a few years down the road that they won't hold it against me.

Just to add some stats, I am showing a 690 Experian fico as of today, LOTS of inquiries (hence the rebuild), 115k income, own my house, credit usage is around 15% currently.

Thanks!

Well look at a credit report and see if there is a late. If so. There lies the problem.

Re: Frustrated with AMEX

OmarGB9 — Sat, 10 Dec 2022 18:17:42 GMT

If you did have a late payment or do something else that set off Amex, that would indeed explain the hard limit. Unfortunately, there's no telling when they'll lift the punishment. In addition, that misstep put you in the doghouse and precludes you from getting any new cards with them. Again, who knows when they'd allow you to get another card.

Unfortunately all you can do is wait, if you so choose. If you'd prefer to close your Gold out, no, they wouldn't hold that against you. At least not the closure in itself. What they don't like is when someone opens/closes multiple cards with them and collects multiple SUBs. Same goes for downgrading an AF card before the year is up. If anything were to prevent you from getting approved in the future, it'd be the late payment, not the fact that you closed one three-year old card with them.

Re: Frustrated with AMEX

Jnbmom — Sat, 10 Dec 2022 18:22:44 GMT

"Maybe" a late payment ? Did you make a late payment ? As others have posted THAT is the reason .

Re: Frustrated with AMEX

JM22 — Sat, 10 Dec 2022 18:28:09 GMT

I just checked my credit report and it shows all on time.

Re: Frustrated with AMEX

OmarGB9 — Sat, 10 Dec 2022 18:33:14 GMT

@JM22 wrote:
I just checked my credit report and it shows all on time.

Did you have a returned payment then? Cause that's what usually triggers the whole hard limit thing.

Re: Frustrated with AMEX

Jnbmom — Sat, 10 Dec 2022 18:37:28 GMT

@JM22 wrote:
I just checked my credit report and it shows all on time.

You may not have been over 30 days late to be reported, but do you recall if you paid after the due date? Amex like others have their internal records

Re: Frustrated with AMEX

JM22 — Sat, 10 Dec 2022 18:41:13 GMT

@Jnbmom wrote:
@JM22 wrote:
I just checked my credit report and it shows all on time.
You may not have been over 30 days late to be reported, but do you recall if you paid after the due date? Amex like others have their internal records

Yeah that's what I'm thinking, but it was so long ago. Can't find anything in my email suggesting that I was late. I could always call and ask I guess.

Re: Frustrated with AMEX

JM22 — Sat, 10 Dec 2022 18:42:24 GMT

@OmarGB9 wrote:
@JM22 wrote:
I just checked my credit report and it shows all on time.
Did you have a returned payment then? Cause that's what usually triggers the whole hard limit thing.

Nah I don't believe so. I would remember if something like that happened.

Re: Frustrated with AMEX

Shooting-For-800 — Sat, 10 Dec 2022 18:51:51 GMT

Do you not use Uber or Uber Eats?

That is $120 per year alone.

Have you tried talking to them for advice and/or solution?

Re: Frustrated with AMEX

Shooting-For-800 — Sat, 10 Dec 2022 18:53:05 GMT

@JM22 wrote:
I just checked my credit report and it shows all on time.

A late payment won't show up on your credit report until it is at least 30 days late.

Any NSF payments?

Re: Frustrated with AMEX

JM22 — Sat, 10 Dec 2022 19:20:54 GMT

@Shooting-For-800 wrote:
Do you not use Uber or Uber Eats?
That is $120 per year alone.
Have you tried talking to them for advice and/or solution?

I do use the uber cash and I try to use the food cashback with grubhub. I probably would have earned a lot more on the card the last few years, but when I get the "next transaction may be declined" message I get annoyed and just start using my other cards instead. Maybe just foolish pride on my part.

I appreciate the thoughts on why this is happening. I wouldn't be surprised if I was late on a payment back in 2020... it would make sense considering I went through a bit of a rough patch after covid with my wife losing her job. I got a bit neglectful during that period of time. I can't really be as frustrated if my current issues with Amex are happening for a good reason.

I will call in on Monday to speak with a rep (or analyst?) to see if they can give me some insight into my situation. I can't imagine they would hold a late payment from 2 years ago against me for too much longer right?

Re: Frustrated with AMEX

simplynoir — Sat, 10 Dec 2022 19:38:40 GMT

Thinking aloud here but I wonder with AMEX if they treat late payments and NSF payments the same. There are datapoints where AMEX definitely doesn't like NSF payments and people have had hard limits instituted as a result to go along with not getting any traction on new apps/CLIs as well for some time. Anyone here happen to know?

OP, if you're struggling to find value out of your Gold card and find the hard credit line limiting I would consider maybe just ripping the bandaid off. Close the card when the next AF is due (unless they offer you a retention off worth keeping it open) and reapply once your credit is better. Though it's hard to say what kind of limitation may still be in place if/when you're ready to try again

Re: Frustrated with AMEX

FinStar — Sat, 10 Dec 2022 19:52:41 GMT

@simplynoir wrote:
Thinking aloud here but I wonder with AMEX if they treat late payments and NSF payments the same. There are datapoints where AMEX definitely doesn't like NSF payments and people have had hard limits instituted as a result to go along with not getting any traction on new apps/CLIs as well for some time. Anyone here happen to know?

OP, if you're struggling to find value out of your Gold card and find the hard credit line limiting I would consider maybe just ripping the bandaid off. Close the card when the next AF is due (unless they offer you a retention off worth keeping it open) and reapply once your credit is better. Though it's hard to say what kind of limitation may still be in place if/when you're ready to try again

Be careful with that thought process @simplynoir, you're heading into "myth" or 'tinfoil kitty' territory 😂.

Re: Frustrated with AMEX

OmarGB9 — Sat, 10 Dec 2022 20:01:46 GMT

@simplynoir wrote:
Thinking aloud here but I wonder with AMEX if they treat late payments and NSF payments the same. There are datapoints where AMEX definitely doesn't like NSF payments and people have had hard limits instituted as a result to go along with not getting any traction on new apps/CLIs as well for some time. Anyone here happen to know?

OP, if you're struggling to find value out of your Gold card and find the hard credit line limiting I would consider maybe just ripping the bandaid off. Close the card when the next AF is due (unless they offer you a retention off worth keeping it open) and reapply once your credit is better. Though it's hard to say what kind of limitation may still be in place if/when you're ready to try again

Well by a similar token, would a mere late payment (that wasn't even a full 30 days late, mind you) trigger a hard limit on a charge card and an auto denial of CLIs/new apps?

Re: Frustrated with AMEX

FinStar — Sat, 10 Dec 2022 20:12:53 GMT

@JM22 wrote:
@Shooting-For-800 wrote:
Do you not use Uber or Uber Eats?
That is $120 per year alone.
Have you tried talking to them for advice and/or solution?
I do use the uber cash and I try to use the food cashback with grubhub. I probably would have earned a lot more on the card the last few years, but when I get the "next transaction may be declined" message I get annoyed and just start using my other cards instead. Maybe just foolish pride on my part.

I appreciate the thoughts on why this is happening. I wouldn't be surprised if I was late on a payment back in 2020... it would make sense considering I went through a bit of a rough patch after covid with my wife losing her job. I got a bit neglectful during that period of time. I can't really be as frustrated if my current issues with Amex are happening for a good reason.

I will call in on Monday to speak with a rep (or analyst?) to see if they can give me some insight into my situation. I can't imagine they would hold a late payment from 2 years ago against me for too much longer right?

I would definitely not close the card since AmEx is also known for things that can carryover if you decided to terminate your relationship and start over down the road -- this is based on DPs that members have reported whether prior late marks or NSF instances occured -- and not a "myth" either.

Reinstatements of NPSL and/or POT can vary for different profiles and regardless of someone thinking they're the expert on myths and all things AmEx, no one really knows for sure on the timeframe. Some DPs highlight anywhere from 6 months to a year or even longer. Admittedly, you don't recall the exact situation that may have led to the Adverse Action of your account, but personally I would let it ride + use the card to 'build' internal behavioral factors until you receive a notification that the NPSL restriction has been lifted.

What is your current overall utilization? Experian FICO score on the AmEx app/site? When, if any, were the most recent late payments reported on any other tradelines?

Re: Frustrated with AMEX

Anonymous — Sat, 10 Dec 2022 20:20:08 GMT

@FinStar wrote:
Admittedly, you don't recall the exact situation that may have led to the Adverse Action of your account, but personally I would let it ride + use the card to 'build' internal behavioral factors until you receive a notification that the NPSL restriction has been lifted.

Well, only if you are organically net positive. If the card isn't providing value, no real reason to keep it for now.

Re: Frustrated with AMEX

FinStar — Sat, 10 Dec 2022 20:34:15 GMT

@Anonymous wrote:
@FinStar wrote:
Admittedly, you don't recall the exact situation that may have led to the Adverse Action of your account, but personally I would let it ride + use the card to 'build' internal behavioral factors until you receive a notification that the NPSL restriction has been lifted.

Well, only if you are organically net positive. If the card isn't providing value, no real reason to keep it for now.

Fair point. I suppose the OP would need to weigh that into consideration.

Re: Frustrated with AMEX

simplynoir — Sat, 10 Dec 2022 20:41:47 GMT

@OmarGB9 wrote:
@simplynoir wrote:
Thinking aloud here but I wonder with AMEX if they treat late payments and NSF payments the same. There are datapoints where AMEX definitely doesn't like NSF payments and people have had hard limits instituted as a result to go along with not getting any traction on new apps/CLIs as well for some time. Anyone here happen to know?

OP, if you're struggling to find value out of your Gold card and find the hard credit line limiting I would consider maybe just ripping the bandaid off. Close the card when the next AF is due (unless they offer you a retention off worth keeping it open) and reapply once your credit is better. Though it's hard to say what kind of limitation may still be in place if/when you're ready to try again
Well by a similar token, would a mere late payment (that wasn't even a full 30 days late, mind you) trigger a hard limit on a charge card and an auto denial of CLIs/new apps?

Yeah, what I was getting at. But then again it's one thing to be possibly forgetful or making sure you have enough money to make a payment first therefore being late as a result, quite another to make a payment and have the "electronic check" bounce for not having enough funds to cover the payment you're trying to make

Re: Frustrated with AMEX

NYC_Fella — Sat, 10 Dec 2022 20:41:36 GMT

@OmarGB9 wrote:

Well by a similar token, would a mere late payment (that wasn't even a full 30 days late, mind you) trigger a hard limit on a charge card and an auto denial of CLIs/new apps?

Not directly on point, but I once missed a payment by 1 day on Disco (somehow my autopay got deleted) and they cited that 6 months later as a reason for not giving me a CLI.