AMEX credit limit decrease

[Anonymous]

I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)

AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO

AMEX - Hilton Honors - Was $3,000 now down to $1,000 

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts. 

Taking THREE duplicate payments when their website was freezing (And they even took them after I called)

Poor customer service 

Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them. 

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child! The customer service is a complete and total joke. 

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts! 

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online! 

{Moderator Edit - While you can state that you had difficulties with customer service, it is not necessary to comment on nationalities, etc. Please see - https://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrat...

BEWARE!

<Mod Edit: Also removed your hyperlink as has alot of political stuff on other site that I don't want to flow into this site on your post there.>

[CreditCuriosity]

@Anonymous I moved your post into a seperate thread as you should get more help this way.  Appears you are getting balanced chased by Amex, not just a CLD due to making the credit line more in line with what Amex think they should be as what the other thread was about.

[Remedios]

Entire thread is filled with praise because in general Amex is good, stable and solid lender.
I appreciate you sharing your story on what Amex did.
Perhaps now you could share what you did in terms of carrying balances, rise in utilization, unusual spending
They do what they do to mitigate percieved risk and curb risky behaviors

[ChessChik47]

I'm curious as to what your entire profile looks like...fico scores, other cards, utilization, etc.  Most banks don't CLD for no reason and they certainly don't do it to "get back at you".  They are in the business of making money, it's not personal, though it may feel personal to you.  You're a number to them.  We all are.  

I've never had an issue with AMEX.  I get great customer service the couple of times I've called, but clearly YMMV.  

[Anonymous]

Brian, well alright, if you say so... lets go with the best route but it does sort of bother me that the other thread was all sunshine and butterflies.. odd..

Have serious trust issues when it comes to AMEX.. Sorry.

Edit - still trying to figure out how to quote people. For that guy asking for more details I posted a link, I would think a flawless payment history and lots of equity would say it all... I don't take out credit cards to leave them in the sock drawer, I am a small business owner in business since 2001.

[Anonymous]

That's a truly baffling set of occurrences on your accounts... I went and read the whole story and the only thing that I can think of is that you are carrying a balance on one or more cards, their limits got slashed, AMEX responded with slashing limits as well. 

I noticed that you said that you always kept your cards under 30% -- did you have multiple cards carrying balances and not paid in full? Some lenders are more sensitive to revolving balances on any accounts, not just theirs, and AMEX is one of those sensitive lenders. 

Normally if you call them at the number provided they will tell you what they expect from you to have your limit restored -- it usually involves some significant pay down of the debt that is bothering them over a month or two but AMEX is very good about restoring your full limit if you meet what they ask you to do. 

One more thing, it doesn't hurt your credit to close cards. If you cannot get Citi and AMEX to restore your limits, closing those cards won't affect you until those accounts age off up to 10 years later. Since they have cut your limits so low, utilization should be a non-issue. I certainly wouldn't keep cards that slashed my limits so much. 

[Anonymous]

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@Anonymous wrote:

I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)

AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO

AMEX - Hilton Honors - Was $3,000 now down to $1,000 

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts. 

Taking THREE duplicate payments when their website was freezing (And they even took them after I called)

Poor customer service 

Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them. 

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child! 

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts! 

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online! 

BEWARE!

<Mod Edit: Also removed your hyperlink as has alot of political stuff on other site that I don't want to flow into this site on your post there.>

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I'm typing a short version of my reply. I posted it and it failed because the thread was moved:

What is your total utilization (on all cards)?

Have you done anything unorthodox with Amex?

If you have high util, did you take a cash advance?

Is there anything else you did with Amex that they might find suspicious?

Anything else show up on your credit report that you may not even be aware of?

This isn't random. Something triggered it. I wouldn't say stay away from Amex, because myself and others think they have great products. Situations vary between individuals.

[Brian_Earl_Spilner]

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@Anonymous wrote:

Brian, well alright, if you say so... lets go with the best route but it does sort of bother me that the other thread was all sunshine and butterflies.. odd..

Have serious trust issues when it comes to AMEX.. Sorry.

Edit - still trying to figure out how to quote people. For that guy asking for more details I posted a link, I would think a flawless payment history and lots of equity would say it all... I don't take out credit cards to leave them in the sock drawer, I am a small business owner in business since 2001.

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Trust me, there's plenty of criticism for all lenders on here. This thread could help to shed some light on your situation.

[Remedios]

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@Anonymous wrote:

I have had a LOT of problems with AMEX lowering my limits! Seems they are trying to run my credit score into the ground on purpose!

I have three AMEX cards,

AMEX - Business Platinum - Was no-pre set spending limit, now capped at $5,000 (Plus I pay almost $500 per year for it)

AMEX - Blue Cash Everyday - Was initially at $10k, now they are chasing it all the way to ZERO

AMEX - Hilton Honors - Was $3,000 now down to $1,000 

I have ZERO missed or late payments over the past 12 years with 23 active accounts. I have a small mortgage and all my vehicles are paid for. I am also a small business owner, which has to be the most discriminated group of people in the entire world.

I must admit that AMEX has done a lot of low-down things like,

Saying I have no pre-set spending limit on their website, then saying a $5,000 limit when they email me card not present transaction receipts. 

Taking THREE duplicate payments when their website was freezing (And they even took them after I called)

Poor customer service 

Trying to bill me TWICE in a month on my AMEX Platinum

It has gotten so bad I am actually considering taking legal action! I feel trapped because AMEX could not maintain it's original credit offering, which wasn't all that great to begin with, but as a small business owner you take what you get. That being said, had I known AMEX was incapable of maintaining it's initial credit lines, and had I known what I know now - I'd have never become an AMEX customer! It's that bad! As they chase my balances on my personal cards to within hundreds of the balance it's devastating my credit score, and it almost feels predatory in nature! I have 21 charge accounts and by far the worst is American Express! I pay them $500 a year for my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them. 

I seriously would caution anyone who would consider getting in bed with AMEX! I know it looks great from the outside looking in, but trust me as a member since 2017 they are a very sexist and vindictive organization that will treat you like a red-headed step child! The customer service is a complete and total joke. 

Im 12 years I have never missed or been late on a payment with ANYONE! I say that I feel trapped because I am trapped! If I close all three cards it's going to destroy my credit score even more! Currently it's at a 580-640 depending on which of the three you are checking. I have regularly had mortgage representatives tell me that they have never seen such a flawless payment history with such a low credit score. It wasn't always that low, in fact it was in the mid 700's until I got in bed with AMEX and was subjected to their frequent credit line haircuts! 

I've tried everything to make them happy, paying off balances at the end of the month (required anyway for my AMEX Platinum Business card), to carrying a balance and there just seems to be no pleasing these people! They just don't seem happy unless they are causing you problems and lowering your credit score. Using you points is like trying to pull teeth as there really is no concierge except for the line that you must lean and figure out how to use them online! 

{Moderator Edit - While you can state that you had difficulties with customer service, it is not necessary to comment on nationalities, etc. Please see - https://ficoforums.myfico.com/t5/Credit-Cards/PLEASE-READ-Posting-About-Foreign-Call-Center-Frustrations/m-p/96063

BEWARE!

<Mod Edit: Also removed your hyperlink as has alot of political stuff on other site that I don't want to flow into this site on your post there.>

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I'm out

[CreditCuriosity]

I did split it to give you the "spotlight" as the other post would of most likely got no responses and look what you are getting already .. BTW welcome to the forum and alot of people here don't praise AMEX either