cancel
Showing results for 
Search instead for 
Did you mean: 

AMEX credit limit decrease (Updated)

Estimate your FICO® Score range for free

FICO® Score Estimator

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Contributor

Re: AMEX credit limit decrease


@CreditInspired wrote:

@Octopus wrote:

Just got mine halved from $30k ---> $15k. Not pleased about this, but I hope I'll be able to restore it with a phone call. 


A phone call seems to be all it takes. 

 

Do you mind giving us some DPs like useage, UT, payment history, etc.?Thanks. 


Usage is low, around $500-1k per month. Always PIF before the statement even cuts. Account approx 18 years old. 

 

Update: I called Amex and let them know I wasn't thrilled at all about this. All it took was answering a few quick income related questions, and the CL was restored back to $30k. 

EX-8 850
TU-8 850
EQ-8 850
Message 61 of 82
Community Leader
Senior Contributor

Re: AMEX credit limit decrease


@Octopus wrote:

@CreditInspired wrote:

@Octopus wrote:

Just got mine halved from $30k ---> $15k. Not pleased about this, but I hope I'll be able to restore it with a phone call. 


A phone call seems to be all it takes. 

 

Do you mind giving us some DPs like useage, UT, payment history, etc.?Thanks. 


Usage is low, around $500-1k per month. Always PIF before the statement even cuts. Account approx 18 years old. 

 

Update: I called Amex and let them know I wasn't thrilled at all about this. All it took was answering a few quick income related questions, and the CL was restored back to $30k. 


WooHoo. Congrats on getting your CL restored!!!

GOALS: Garden til APR 2020 and 800 Club

GIRL WILLPOWER ("No Thanks" to Apple $7.5K, 12.99% Approval)


JUN 2019: EX 788, TU 794, EQ 779
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $25K || NFCU CashRewards $20K || Macy's $20K || Discover IT $18.7K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 62 of 82
Established Member

Re: AMEX credit limit decrease

This morning logged in to see my CL slashed from 34,500 to 17,300. Called in, agent confirmed my contact info on account, got updated income info, then restored CL back to 34,500. Happy about this.
Message 63 of 82
Frequent Contributor

Re: AMEX credit limit decrease

Had my 30K ED just reduced to 15K.  Same BS about "to align with your spending patterns".

I know I could likely have the limit restored with a phone call but I can't quite bring myself

to grovel at their feet to restore what should have never been removed in the first place.

 

AX has lost its' allure with me.  Rewards absolutely stink when used on Amazon at something

like 70c per point.  14.99% doesn't impress me either, and I haven't seen a decent offers

or 0% balance transfer offers like I do with the others.

 

I was going to close it out of spite, but I think I'll just let the card rest in the sock drawer.


Message 64 of 82
New Contributor

Re: AMEX credit limit decrease (Updated)

Blue Cash Everyday

11+ year history

Decrease from $25K to $12.5K in June 2019. Reason given: minimal activity in the last 12 months

Experian FICO 840

 

I only put 2-3 small charges a year. Experian still shows the old limit of $25K, so I do not know yet how the lower limit will impact my FICO score. I haven't decided if I want to call Amex to restore the credit line.

Message 65 of 82
Super Contributor

Re: AMEX credit limit decrease (Updated)

So two things that still seem to be consistent with all of these CLDs:

 

  1. The CLD is always a 50% reduction of the CL.
  2. All of these CLDs have been restored to their original limit with a simple/quick phone call.  100% success rate thus far.
Message 66 of 82
Highlighted
Regular Contributor

Re: AMEX credit limit decrease (Updated)

What if you already have a low limit? My Amexs are $6k. Maybe not know I exist hehe.

Chase Hyatt | Chase Freedom | Amex ED | Amex Hilton | Amex SPG | Discover IT Miles | Citi MileUp
Message 67 of 82
Regular Contributor

Re: AMEX credit limit decrease (Updated)

I think it's just a matter of mitigating their potential risk. Take me. I have two Canadian Amex cards, with a total CL of about $39k US (46k CDN) and three US Amex cards that right now have a CL of $8K and spending limits of about $45k. I spend maybe $500 to $2000 in an average month, more when travelling, but highest balance ever was about $5k. 

 

If I ever got to 30% of my AMEX limit, let alone 50 or 60%, it would almost certainly mean something's changed for me and they wouldn't be getting their money back - and in the US I have no assets to seize, no paycheque to garnish, absolutely nothing to back my credit but my willingness and ability to pay.

 

So it does make sense for a lender to not put themselves into that position and not to let the borrower get into that position. It's really not about any of us as individuals, it's about a pool of millions - if you cut some of the largest credit limits in half, and restore them to reponsible customers who complain, you'll definitely cut fraud with little or no impact on the spending of your non-defaulting customers.

 

 





Message 68 of 82
Moderator Emeritus

Re: AMEX credit limit decrease


@BrutalBodyShots wrote:

@CJ7 wrote:


Just give me a limit you're comfortable with me using to begin with and quit playing silly games!

You're failing to recognize here that things/policies change.  At the time they obviously were willing to extend a certain limit and now presumably due to risk/exposure/ultimately profits they aren't and are tightening things up.  Policies change all the time based on circumstance. 

 

A restaurant may offer their employees a free shift meal, but have a lone restriction that their 2 best steaks aren't eligible.  An employee for 3 years working there that doesn't eat red meat eats a seafood dish almost every shift.  For whatever reason, several seafood prices go through the roof in the market and the owner as a result puts a restriction against employees ordering a few of the dishes that this employee regularly enjoys.  It is what it is.  At the time the initial policy was made, the owner was comfortable with all seafood dishes being free as a shift meal.  His costs went up, so he had to tighten things up.  While this may be a letdown to the employee, certainly they would "understand" the policy change.


Interesting you are referencing food ... is the situation you mentioned yourself? Surely we can help with a 'fund me' account and get you food Smiley Sad Oh, now I am hungry for sea food and it is only 10:16 am Smiley Frustrated

Starting Score: 000
Current Score: 850
Goal Score: 850


Take the myFICO Fitness Challenge
Message 69 of 82
Super Contributor

Re: AMEX credit limit decrease (Updated)


@SkyCommander wrote:

What if you already have a low limit? My Amexs are $6k. Maybe not know I exist hehe.


You won't see a CLD.  The vast majority of the decreases we've seen have been to [relatively] unused 5-figure limits.

Message 70 of 82
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.