AMEX IS HORRIBLE lowered my credit limit

[haulingthescoreup]

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@Anonymous wrote:
I don't want to jinx myself but I think I'm on the verge of becoming a victim of Amex's CLD. :-x *Knocks on wood*

My blue is 10k and I have a charge card with them as well. Blah!

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Are you saying that your CL is $10K, or your balance is $10K? If it's your balance on your Blue, then yep, you need to pay that baby down in the next few months.

FWIW, it seems like most of the posts I read about AmEx CLD is done to Delta holders, or those who qualified for a Delta and traded up to a Blue. Hope you'll dodge the bullet!

[Anonymous]

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@haulingthescoreup wrote:

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@Anonymous wrote:
I don't want to jinx myself but I think I'm on the verge of becoming a victim of Amex's CLD. :-x *Knocks on wood*

My blue is 10k and I have a charge card with them as well. Blah!

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Are you saying that your CL is $10K, or your balance is $10K? If it's your balance on your Blue, then yep, you need to pay that baby down in the next few months.

FWIW, it seems like most of the posts I read about AmEx CLD is done to Delta holders, or those who qualified for a Delta and traded up to a Blue. Hope you'll dodge the bullet!

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Oh I would kick myself if I allowed myself to max out my Amex cards. My limit is 10k and my balance is at $0. And the only thing that's scaring me right now is that paid collection that appeared out of nowhere in my CR's. So hopefully I WILL dodge the bullet. Thanks for the support.

[Anonymous]

It's very easy to get offended and react by closing it and thinking a company doesn't value you as a customer.  But these are risk-initiated actions that are done by the system.  Risk management in companies has things in place where if you meet certain criteria or your credit profile changes, they'll react, as you didn't have the same credit profile when you obtained the card.  If the card doesn't cost you anything...don't close it.

Just calm down and put the card away.  At least you'll a 500 card that'll factor into your utilization and there for emergencies. Now that you've been reduced you're less likely to be cancelled.  I know that sounds crazy but they valued you enough to keep you in the amex family.  Amex rarely hands out 500 limits.  They'll sooner cancel you than reduce your line.  Sockdrawer it and when your credit rebounds you can request an increase.

Same thing happened with Chase.  They told me to wait six months before asking for an increase.  They reduced my 800 line to 600.  I called back and I got it to 1000.  Then I called a month later and told them I needed more credit because I was helping my mom move.  Then got it to 2000.

[Anonymous]

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@Anonymous wrote:

Same thing happened with Chase. They told me to wait six months before asking for an increase. They reduced my 800 line to 600. I called back and I got it to 1000. Then I called a month later and told them I needed more credit because I was helping my mom move. Then got it to 2000.

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Was there any particular reason for the AA?

[Client9]

I had an AMEX Blue for students for over 14 years.  Originally the CL was 2K.  Then went to 600 after some rocky times.  I went to buy a DVD boxed set with it since it had no balance on it and I thought I had better use it to keep it active.  It came up declined.  I called and AMEX said they closed it!  My FICOs were on the rise and had been in much worse condition before.  It only messes up the UTIL ratio a bit, but it was only 600 bones.

[Anonymous]

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iignatii wrote:

Amex lowered my credit limit from 1000 to 500 claiming that my fico score went down. I cancelled my card immediately. I will never do business with AMEX again. I checked my score and saw bloomingdales put a 30 days late on my report. I am now in dispute with them.

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Let me get this right? You are mad becuse you made a late payment and Amex lowered you're credit line? This makes sence to me I mean if I was offering credit and I see people cant pay their bills I would lowere their credit also. By canceling you're shooting yoursle fin the foot. You keep canceling cards and getting late payments you will never get another card again. Nothing personal just not a winning strategy in my book.

[Creditaddict]

In addition, you said you were disputing the late, if the late comes off, you can then print new Fico report for EX and send it to amex and they will review to take your credit limit back.

[Anonymous]

AMEX did the same to me, which totally screwed me over. I was remodeling my house using my credit cards, most of which had 0.0% interest for at least a year. After that year I planned on selling a real estate investment to payoff the balances. Then AMEX decides they are going to lower my limit due to all the debt I was racking up. This really F'd up my budget I had in place. I immediately called AMEX, chewed them out and canceled my account.All in all, I ended up selling my property for what I had anticipated, and paid off my remaining balances. I now have a few different credit cards that I use and pay-off regularly but you can be **bleep** sure AMEX is not one of them.

[Anonymous]

Yep, I remember & I'm glad it worked out for you. I'm watching my reports like a hawk, afraid some old zombie will pop up.

Today I called Amex to let them know I'll be travelling next week and to expect out of the ordinary charges. This is the first time I've ever done this with any CCC. In the past I've travelled in the US & abroad and never had any problems using CCs. Guess things are changing.

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Timothy wrote:

Anyone notice how scared I was when those 2 CA's popped on my EX - That was a long 3 weeks.

I have been paying Blue cash and Delta before the Statement- (out of habit)

I have been using my Green (heavily) I just keep PIF'ing.

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