AMEX advice

[JuicySmoolyay]

I was late by a week on a small balance on my Chase card and they reduced my CL by $4000+.  At the same time I was getting mortgage bids and had several hard pulls. I had balances on several cards but was on time with payments with them. 4 cards with AMEX. Then a cascade effect occurred of having my limits reduced on several cards. Every AMEX card got hit by several thousand dollars on each. I have since paid off all outstanding balances. My question is how long will I need to wait to ask for CLI's on the AMEX cards? 

I have a couple derogs that are close to phasing out. The recent hard pulls will be a year old in Jan 2023. My Discover cards have held firm and a couple CU cards have held. Any advice to getting back on good terms with AMEX? Could a call and stating the situation help? 

Sorry if I posted this in the wrong place.

[OmarGB9]

Probably a year. You can try calling and pleading your case, I'm not sure how receptive they would be to it, though. 

[purebulldogs]

It sounds like the chase limit was reduced for the late payment, but the Amex and maybe some others were from carrying balances? If so, that's not too bad. The week late won't show up on the credit reports. Also, getting a reduction on Amex credit lines is better when they do it due to carrying balances vs paying them late or having a payment bounce etc. 

Back in 08 before things got crazy I had 40k worth of credit with Amex. I put 20k on the card and carried it for 6 months. By the time the 6 months hit they lowered my limit to 20,500 so I wouldn't put more on it. The next month I paid 10k of it off and then two months later paid it off in full. The credit line got reduced one last time to 10k and stayed there. 

I always paid Amex on time even though I did have a few late payments on other stuff so 6 months later I called about an increase and they raised it back up to 20k so I was happy with that. 

i didn't rack it up and ended up paying off everything I owed to all cards during 2009. 

I would pay down what you can and then probably a decent chance at getting lines increased 

I may not have answered your question exactly but that was my experience with them back then,  and Amex seems decent for getting things restored some 

[Remedios]

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@JuicySmoolyay wrote:

I was late by a week on a small balance on my Chase card and they reduced my CL by $4000+.  At the same time I was getting mortgage bids and had several hard pulls. I had balances on several cards but was on time with payments with them. 4 cards with AMEX. Then a cascade effect occurred of having my limits reduced on several cards. Every AMEX card got hit by several thousand dollars on each. I have since paid off all outstanding balances. My question is how long will I need to wait to ask for CLI's on the AMEX cards? 

I have a couple derogs that are close to phasing out. The recent hard pulls will be a year old in Jan 2023. My Discover cards have held firm and a couple CU cards have held. Any advice to getting back on good terms with AMEX? Could a call and stating the situation help? 

Sorry if I posted this in the wrong place.

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Amex didn't CLD because of Chase CLD, they did it because your utilization got too high, and then you got a bunch of pulls indicating credit seeking (they might have been for mortgage, but to a computer, purpose doesn't matter). 

You can ask at any time and Amex will increase your limit when they are confident your financial issues are resolved.

During that time, even if you use your Amex cards and pay them off each month, all of your other accounts w/balances will be evaluated the same way they would look at their own cards. 

If you have other cards with high utilization, don't bother with asking, they won't budge. 

Basically, your CR will need to look super pretty for them to consider increasing limit on one of your cards. 

You can test waters every so often (I believe it's 90 days or something like that from denial to when you can ask again), but again, you will need to maintain steady financial picture in order for them to consider it.