AMEX cut my limit in what I think is balance chasing!

[Rudy1]

Got a letter on my account that my amex delta gold limit has been cut from $8,900 to $2000. I am just angry right now the letter's reason is too many inquiries. I mean really I went on an app spree with 6 inquries in that last 12 months how did they get so spooked. I'm so tempted to close the stupid card. I can't even book a flight on it with a $2000 cl. The balance on it right now is $1,500 which I will pay off soon note that this balance was only occurred two months ago from a trip and I pay way more then the minimum payment due. They seem to be on a spree I see multiple people saying they are doing this. Yet they also approved me for an Amazon Prime card so I don't know what to think. I have never had a late payment and I am not appreciating this nonsense. I assume they will close the card the second I pif I wonder what will happen to my Amazon card. 

[SouthJamaica]

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@Rudy1 wrote:

Got a letter on my account that my amex delta gold limit has been cut from $8,900 to $2000. I am just angry right now the letter's reason is too many inquiries. I mean really I went on an app spree with 6 inquries in that last 12 months how did they get so spooked. I'm so tempted to close the stupid card. I can't even book a flight on it with a $2000 cl. The balance on it right now is $1,500 which I will pay off soon note that this balance was only occurred two months ago from a trip and I pay way more then the minimum payment due. They seem to be on a spree I see multiple people saying they are doing this. Yet they also approved me for an Amazon Prime card so I don't know what to think. I have never had a late payment and I am not appreciating this nonsense. I assume they will close the card the second I pif I wonder what will happen to my Amazon card. 

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Don't assume they'll close it.  Just ride it out and see where you wind up.  Then after things have cooled off, you'll probably be able to get CLI's.

[Rudy1]

I hope they don't close it but it seems like that's what amex does with balance chasing.

[Red1Blue]

Why dont you call them and ask them to restore your limit. They might do it. If they dont wait few months and ask them again. They have every right to change the limits. But for loyal long time customers it can be upsetting. I understand how you feel. Give them a call. Good Luck.

[Slowlyrebuilding]

I agree with the other post that said call them. I have crappy credit. I have 3 amex and a gold card that are in good standing and have never been late. My gold card has a low spend limit. I constantly check the spend limit and about a year ago I noticed they lowered it. I messaged them and outlined that I've always been on time with my payments, my limit was already low and asked them to please restore it to the previous amount as they could see I used that amount monthly. They never contacted me back but a day or so after my spend limit was restored. 

[SoCalGardener]

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@Rudy1 wrote:

Got a letter on my account that my amex delta gold limit has been cut from $8,900 to $2000. I am just angry right now the letter's reason is too many inquiries. I mean really I went on an app spree with 6 inquries in that last 12 months how did they get so spooked. I'm so tempted to close the stupid card. I can't even book a flight on it with a $2000 cl. The balance on it right now is $1,500 which I will pay off soon note that this balance was only occurred two months ago from a trip and I pay way more then the minimum payment due. They seem to be on a spree I see multiple people saying they are doing this. Yet they also approved me for an Amazon Prime card so I don't know what to think. I have never had a late payment and I am not appreciating this nonsense. I assume they will close the card the second I pif I wonder what will happen to my Amazon card. 

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 I'm sorry this happened to you. Closing the card is, of course, up to you, but I don't think doing it is a good idea. For all you know right now, your limit may go back up once your credit picture looks better.

Forgive my ignorance, but what does American Express have to do with an Amazon Prime card? I have an Amazon Prime Store Card, and it's issued by Synchrony; I've seen reference to an Amazon Prime Visa card issued by Chase. Where does Amex fit into the picture?

[CreditCuriosity]

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@SoCalGardener wrote:

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@Rudy1 wrote:

Got a letter on my account that my amex delta gold limit has been cut from $8,900 to $2000. I am just angry right now the letter's reason is too many inquiries. I mean really I went on an app spree with 6 inquries in that last 12 months how did they get so spooked. I'm so tempted to close the stupid card. I can't even book a flight on it with a $2000 cl. The balance on it right now is $1,500 which I will pay off soon note that this balance was only occurred two months ago from a trip and I pay way more then the minimum payment due. They seem to be on a spree I see multiple people saying they are doing this. Yet they also approved me for an Amazon Prime card so I don't know what to think. I have never had a late payment and I am not appreciating this nonsense. I assume they will close the card the second I pif I wonder what will happen to my Amazon card. 

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 I'm sorry this happened to you. Closing the card is, of course, up to you, but I don't think doing it is a good idea. For all you know right now, your limit may go back up once your credit picture looks better.

Forgive my ignorance, but what does American Express have to do with an Amazon Prime card? I have an Amazon Prime Store Card, and it's issued by Synchrony; I've seen reference to an Amazon Prime Visa card issued by Chase. Where does Amex fit into the picture?

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Its a business card they offer by Amex

[SoCalGardener]

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@CreditCuriosity wrote:

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@SoCalGardener wrote:

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Forgive my ignorance, but what does American Express have to do with an Amazon Prime card? I have an Amazon Prime Store Card, and it's issued by Synchrony; I've seen reference to an Amazon Prime Visa card issued by Chase. Where does Amex fit into the picture?

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Its a business card they offer by Amex

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Really? Who knew?! (Not me, but you did! ) Thanks.

[Dalmus]

I think it's important to remember that us MyFico Forums members are not "normal" credit consumers.   To us, 6 inquiries in 12 months doesn't seem like much, but in reality, with the exception of mortgage/auto rate shipping, the "normals" probably have  1 or 2 inquires every two or three years.

Not saying you necessarily deserved CL reduction, just giving some context.