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I logged in to pay my bill a few weeks ago and was pleasantly surprised that I had an offer to upgrade to the Amex card. I didn't jump right away, but skimmed through the info, logged on the next day and accepted it. To my horror, I received the new card yesterday and found that my $2800 CL got cut to $1500, and with the $1400 balance I was carrying, I'm now pretty much maxed out. I called to ask if my limit could be restored, or they could roll me back to the old card, but no avail. All she would offer is a CLI request which was denied. Do I have a shot at fighting this? The timing couldn't be worse. I didn't read throuogh the fine print thoroughly, but it was marketed as if nothing would change other than having an Amex logo on my card. If I'm just stuck taking the hit on my credit, paying it down and gardening, at least my story is a cautionary tale I guess.
@Anonymous wrote:I logged in to pay my bill a few weeks ago and was pleasantly surprised that I had an offer to upgrade to the Amex card. I didn't jump right away, but skimmed through the info, logged on the next day and accepted it. To my horror, I received the new card yesterday and found that my $2800 CL got cut to $1500, and with the $1400 balance I was carrying, I'm now pretty much maxed out. I called to ask if my limit could be restored, or they could roll me back to the old card, but no avail. All she would offer is a CLI request which was denied. Do I have a shot at fighting this? The timing couldn't be worse. I didn't read throuogh the fine print thoroughly, but it was marketed as if nothing would change other than having an Amex logo on my card. If I'm just stuck taking the hit on my credit, paying it down and gardening, at least my story is a cautionary tale I guess.
I think you're SOL but this totally SUCKS. It's a wonder any of these companies are still in business or still have "valued customers." It does seem like they both gave you the coveted AMEX upgrade and at the same time balance chased you down to your current balance. I'm just sorry this happened to you. It's inexcusable.
@Anonymous
Congrats on your upgrade to Amx macy Cc. I know you mentioned asking to Reinstate your original CL but was denied. You can ask to be transferred to the Executive office to Reinstate your CL. I once had the back door number but not anymore.
I do not think they two are related. It just happened at the same time. I will say it is odd for them to offer you an upgrade and cut your CL at the same time. I have heard of balance chasing but not with an upgrade. I am sorry this happened to you.
Thank you for posting this, it keeps us all informed as to what is going on out there
Mark
They cut me down to $600 dollars while I have $24,900 on the store side.
That is really messed up!
GL!
DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!
@Anonymous wrote:I do not think they two are related. It just happened at the same time. I will say it is odd for them to offer you an upgrade and cut your CL at the same time. I have heard of balance chasing but not with an upgrade. I am sorry this happened to you.
Thank you for posting this, it keeps us all informed as to what is going on out there
Mark
As it turns out, you are correct. I searched the forums to find a backdoor number, called, and come to find out, my limit dropped 2 days prior to me accepting the upgrade. I've let some of my card balances creep up so it's not shocking I suppose, but still disappointing nonetheless. I'll have to get aggressive on paying cards down and try again in 3 months.
Thanks for the input everyone.
I also concur that you seam to have gotten balance chased and then selected for the AmEx upgrade. In fact that upgrade was most likely because of your being $100 below your CL. Also yes they do look at what you are doing with your other accounts to determine if they want to balance chase.
Update: I received my Macy's Amex card and activated it. My credit line is the same as the Macy's card was, $7,900. The card came with a lot of AMEX offers for cashback at various restaurants. You have to activate each offer individually. There is also a SUB that gives you $50 in star rewards if you spend $500 by the end of October.