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AMEX credit limit decrease (Updated)

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Valued Member

AMEX credit limit decrease (Updated)

Hi, just logged in to Amex and noticed my limit got cut from 30k to 15k. Nothing on my profile has changed. The only thing I can think of is I haven’t used the BCE in a month because another card has been serving my grocery needs for cash back.

Any idea why Amex would do this?

Message 1 of 93
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Valued Contributor

Re: AMEX credit limit decrease

it does seems a trend now, this is the 5th reported case in the past week?

 

Amex is now probably in line with CL from other lenders.

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Message 2 of 93
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Community Leader
Super Contributor

Re: AMEX credit limit decrease


@06GTS197 wrote:
Hi, just logged in to Amex and noticed my limit got cut from 30k to 15k. Nothing on my profile has changed. The only thing I can think of is I haven’t used the BCE in a month because another card has been serving my grocery needs for cash back.

Any idea why Amex would do this?

Oh no, another one bites the dust (so-to-speak). I think you’re the 4th or 5th one that this CL slashing has happened to in as many days. 

 

Was the other card another AmX card?

 

Wow, just one month of nonuse and AmX is cutting limits. Now this is worrisome. 



DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| NFCU CashRewards $30K || AmX Cash Magnet $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || NFCU Platinum $12.5K || AmX ED $11.5K || CitiCostco $7K || CitiDC $6.3K ||
Message 3 of 93
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Established Contributor

Re: AMEX credit limit decrease

Looks like they are doing this quite a bit lately.

 

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-chopped-CL-50/m-p/5542847?collapse_discussion=tru...

 

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-AA-Reversal/m-p/5542949?collapse_discussion=true&...

Scores: Jun 20: EX FICO8 823, TU FICO8 813, EQ FICO8 820
AoOA: closed: 36 years, open: 25 years; AAoA: 11.8 years
Amex Gold, Amex Green, Amex Blue, Amex ED, Amex Delta Gold, Amex Hilton Surpass, BoA Platinum Plus, Chase Slate, Chase Amazon, Chase CSP, Citi AA Plat, Sync Lowes, Sync JC Penney - total CL 145k
Loans: Prosper (20k/3yrs 7.14%), Lending Club (10k/3yrs 5.89%), Chase car loan (35k/6yrs 0.9%)
Message 4 of 93
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Valued Member

Re: AMEX credit limit decrease

Yea 1 month. I’m a little upset about the cut. Gonna call them tomorrow and ask for it back.

Message 5 of 93
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Community Leader
Senior Contributor

Re: AMEX credit limit decrease

Hmm this seems to be happening a lot lately. Sorry about that! Hopefully you can rectify the situation

Discover It: 19.7k
Amex ED: 18k
Citi DC: 6.7k
Citi Rewards+: 3.6k
Bank Americard: 2.8k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 6 of 93
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Super Contributor

Re: AMEX credit limit decrease

OP, how much spend would you put on the card in a busy month?

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCP, EDP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 7 of 93
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Regular Contributor

Re: AMEX credit limit decrease

I'm sorry hear that Op !  How long have you had this card for?  

 

Hopefully you can rectify that with a phone call tomorrow.! GL

 

I hope this new "trend" doesn't affect the 3x 61days CLI system. 





Message 8 of 93
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Super Contributor

Re: AMEX credit limit decrease


@06GTS197 wrote:

Any idea why Amex would do this?

100% because they feel you aren't using a significant portion of the $30k limit they've given you.  My question to you is how much use you've been giving the card over the past 6-12 months?  I know you said you had a light/$0 month due to using another card (likely Discover, I did too) for groceries, but what about the months before that?  Can you give us the average spend you put on the card monthly, but also and perhaps even more important the single largest spend you've put through the card in any given month in the last 12 months?

Message 9 of 93
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Valued Contributor

Re: AMEX credit limit decrease


@FortifiedHM wrote:

it does seems a trend now, this is the 5th reported case in the past week?

1 ) Amex is now probably in line with CL from other lenders.


No one likes to see a reduction, however when looked at from the the side, this should not be shocking.

Amex has been overly generous with CL increases and inflated CL's for a long time.

One reason they are so popular and recommended for every new user.

3x CL increases at 90+ days, higher than average CL's on cards !

They have decided that they need to reverse some of the inflated limits they have issued.

 

1)

Still at least 50% higher than OP's second largest CL.

The limit reduction puts the Amex at 4.5 times other cards average CL, started at 9 times CL.

$15,000 is a good CL for a capped grocery card.

 

 

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k) / US-Bank Cash+ (15k)
FNBO Travel Elite (15k) / Citi Double Cash (20k) / US Alliance 3% (20k)
Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
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