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AMEX credit limit decrease (Updated)

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New Visitor

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 93
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Community Leader
Super 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.


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

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 82 of 93
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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 93
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Community Leader
Super 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.


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

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
Message 84 of 93
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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 93
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Senior 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 93
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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 93
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Established Member

Re: AMEX credit limit decrease (Updated)

Weird situation with AMEX. Early last month, got an email that my credit line had been increased to $11k. Last week, noticed it had gone down to $8k.

 

Sent a message to support through the app and was told they could see this had happened, but it was a technical glitch that had caused the decrease and they'd update it once it had been fixed.

 

After 1 week, still no update, so called support - the final answer was that they had accidentally overextended credit to $11k, and my actual balance should be $8k, so it's correct now. There was no email correspondence or anything relating to this decrease, and the original increase email did say $11k. That balance showed up for several weeks and was reported to the bureaus. No major changes on my side that would have caused this.

 

I generally keep a balance of < $500 on my AMEX, so this isn't a huge deal at all - not planning any big purchases - but is this excuse real, or is something fishy? I don't want a lower credit line - and thus utilization - to hurt my credit score, but I also don't want to request a CL increase. Curious if anyone has any thoughts.

Message 88 of 93
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Community Leader
Super Contributor

Re: AMEX credit limit decrease (Updated)


@usernamegoeshere wrote:

Weird situation with AMEX. Early last month, got an email that my credit line had been increased to $11k. Last week, noticed it had gone down to $8k.

 

Sent a message to support through the app and was told they could see this had happened, but it was a technical glitch that had caused the decrease and they'd update it once it had been fixed.

 

After 1 week, still no update, so called support - the final answer was that they had accidentally overextended credit to $11k, and my actual balance should be $8k, so it's correct now. There was no email correspondence or anything relating to this decrease, and the original increase email did say $11k. That balance showed up for several weeks and was reported to the bureaus. No major changes on my side that would have caused this.

 

I generally keep a balance of < $500 on my AMEX, so this isn't a huge deal at all - not planning any big purchases - but is this excuse real, or is something fishy? I don't want a lower credit line - and thus utilization - to hurt my credit score, but I also don't want to request a CL increase. Curious if anyone has any thoughts.


They have no reason to lie to you. They would tell you if you weren't using enough of the line or they were taking adverse action.







Message 89 of 93
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Frequent Contributor

Re: AMEX credit limit decrease (Updated)


@usernamegoeshere wrote:

Curious if anyone has any thoughts.


Send them a message by sockdrawering the card.  The massive benefit cuts last week were the last straw for me.

First they cut my limit in half for no legitimate reason, then this.

I have way better cards to use.


Message 90 of 93
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