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AMEX credit limit decrease (Updated)

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Re: AMEX credit limit decrease (Updated)

Mine was decreased in half. Been a customer for 12 years. Never late never any issues. Customer service sucks!
Message 81 of 87
Community Leader
Senior Contributor

Re: AMEX credit limit decrease (Updated)


@Idrivea87GN wrote:
Mine was decreased in half. Been a customer for 12 years. Never late never any issues. Customer service sucks!

Hi and welcome to MyFICO

 

As stated, everyone who got a CLD had it restored with just a phone call. The reason was non-useage. Was that the reason for your CLD? I suggest giving them a call. It is possible that you reached a CSR who was having a bad day. I've never had a problem with CS.

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
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 82 of 87
Member

Re: AMEX credit limit decrease (Updated)

I just got the email for my amex blue cash that I got a CLD of 50% after 3 years with them. Limit was 6200 and they bumped it down to the balance of 3100. They gave me the usual too many cards, high balances, credit score crap. But they said there are two options to restore the credit limit back. (1) make a payment of $1200 or (2) send tax returns. So i made the payment just dont understand there reasoning.

Message 83 of 87
Community Leader
Senior Contributor

Re: AMEX credit limit decrease (Updated)


@fladowntown wrote:

I just got the email for my amex blue cash that I got a CLD of 50% after 3 years with them. Limit was 6200 and they bumped it down to the balance of 3100. They gave me the usual too many cards, high balances, credit score crap. But they said there are two options to restore the credit limit back. (1) make a payment of $1200 or (2) send tax returns. So i made the payment just dont understand there reasoning.


Hi and welcome to MyFICO

 

Was your UT >48.9% on the card, or were you only making minimum payments, or were you carrying a large balance for more than a few months? Sometimes these are reasons for an AmX CLD when one of the things they ask for is a large payment.

 

I would have done exactly what you did--sent a large payment vs tax returns.

GOALS: Garden til APR 2020 and 800 Club


SEP 2019: EX 791, TU 797, EQ 800
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 84 of 87
Regular Contributor

Re: AMEX credit limit decrease


@Kforce wrote:

@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.

 

 


61 days,,,,,

Message 85 of 87
Valued Contributor

Re: AMEX credit limit decrease

I'd have simply paid the $1200 and thanked them for reminding me. For whatever reasons they didn't feel comfortable with your balance, which must have been around 50%. I've only been with Amex for 3 years too, and they've never emailed me to pay them.  I've never been over 28% on any of their cards either, except once for a month on the ED card. And briefly on the BBP. But I consistenly pay 10X the minimum due. 

 

I don't like carring CC debt, but when I do, I try to pay it down quickly as possible. Especially if above the 28% threshold.






Message 86 of 87
Member

Re: AMEX credit limit decrease (Updated)

Yes to all. Except i always make double payments and a few small purchased in the last six months. They started sniffing around me after i got a gold card with them.

Message 87 of 87
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