AMEX CLD — update reinstated!

[HeavenOhio]

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@Anonymous wrote:

Wow, ok that is great information. You would think minimum payment's on 50% utility would be good enough as they grab the interest, apparently they want their money. Thank you for the speedy reply

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I'm glad it all worked out, @Anonymous. Your profile doesn't scream balance chasing. Generally, you start worrying about that when multiple cards are above 68.9%. Now that the AMEX situation is resolved, I think you'll be fine.

@Anonymous, card companies don't like minimum payments. It's something you can get away with occasionally, but you shouldn't do it month after month. Some suggest that paying at least $2 above the minimum might be enough to keep the computers from noticing. Others suggest at least twice the minimum payment.

Some banks are more tolerant than others. AMEX is among the less tolerant. Capital One, Discover, and NFCU are known for giving customers a lot of leeway. They probably won't reward you with a CLI, but they're not likely to CLD you either.

[Anonymous]

Thank you, luckily I zero'd my amex this month. 

[Anonymous]

They sent me a follow up email telling me the 2 options I had to get it reinstated, and I forgot to mention they also said they I had 2 months (until February 7th) to pay half of the balance which surprised me as well:

We are writing in regards to your request for us to reevaluate the change we made to the limit on your account referenced above. In order for us to reevaluate this change, please choose one or both of the following options:

Make Payment(s):
During our recent conversation, you were provided the payment amount and the date the payment(s) should be received by in order to restore your credit limit.

(1) You can make one or multiple payments using one of our convenient methods:

Online at americanexpress.com/pbc

By phone at 1-800 I-PAY-AXP (1-800-472-9297)

Send check(s) by mail

(2) Provide current financial documentation. In order to further evaluate your account, please provide proof of income, proof of financial assets, or both, by sending the following documents:

Proof of Income: Send us your most recent pay stub, W2 form, personal tax returns or any other documents showing income, such as pension payments.
Proof of Financial Assets: Send us your most recent personal bank statements (checking, savings, certificates of deposit), personal financial statements (brokerage accounts, etc.) or any other documents that clearly indicate the value of your liquid assets.

Important Notice: Please include income from all sources including employment, retirement, investments, rental properties, etc. Alimony, child support, or separate maintenance need not be revealed if you do not wish to rely upon it.

[Anonymous]

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@Anonymous wrote:

(2) Provide current financial documentation. In order to further evaluate your account, please provide proof of income, proof of financial assets, or both, by sending the following documents:

Proof of Income: Send us your most recent pay stub, W2 form, personal tax returns or any other documents showing income, such as pension payments.
.

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This surprises me, suggesting OP can send in copies of tax returns rather than going the 4506-T route!

[RonM21]

Op, glad it worked out for you. Nice to see when it doesn't always end bad. It looked like they were about to start balance chasing you which ultimately ends up leading to either the lender closing the card or you closing the card or not using anymore out of frustration. This time, it was a good ending.

[UncleB]

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@Anonymous wrote:

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@Anonymous wrote:

(2) Provide current financial documentation. In order to further evaluate your account, please provide proof of income, proof of financial assets, or both, by sending the following documents:

Proof of Income: Send us your most recent pay stub, W2 form, personal tax returns or any other documents showing income, such as pension payments.
.

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This surprises me, suggesting OP can send in copies of tax returns rather than going the 4506-T route!

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Yeah, I think the difference here was this was basically "reconning" a CLD rather than a full-blown FR. 

For an actual FR I've never heard of them taking anything but the 4506-T.