Saw a post on another board of someone who got the amex plat and got their internal credit line reduced three weeks after approval because they had 7 inquiries on their credit report (not all for credit cards). The rep told them anything over four inquiries can be too much for amex. I'm trying to get more details, but stuff like this makes me nervous as I have 8 inquiries within six months now. Has anyone had a problem with amex reducing credit lines in a situation based solely on too many inquiries? What I am really curious about is if this is done by amex to people when amex knew about the inquiries at the time of approval. Or if this is a case where someone made amex their first app and then went on a spree after approval. The later I can understand. The former would annoy me if amex knew all along and then changed the credit line when its the same credit report as at time of approval. I would note that this situation involved a business version of the plat, but would think it could easily be applied to personal cards as well.
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@yfan wrote:Part of your inquiry could be answered by this individual - over what period of time was his inquiries spread and spaced, and where did the Amex app fall in the inquiry timeline?
I understand being annoyed, but the fact is that the systems that approve an application and periodically review credit lines/risks are not necessarily linked. With charge cards though, since reported limits aren't an issue, the only issue would be if someone was planning on charging more than their internal limit. Do we know what the internal limit was initially and what it was changed to later in the case being discussed here?
No, I don't have that info although I do agree it can be relevant. Apparently they are sending in documents to get their credit line restored. It doesn't say what the initial internal limit was.
@Anonymous wrote:CSRs are not credit analysts and often are reading a script. The analysts have to provide FICO based rationales but decisions are made based on internal risk scores, which include a lot of non-FICO factors.
You'll never know why your friend was AA'd but I really doubt it was based on 7 inquiries. Maybe a lot of factors including that, maybe MS that he didn't mention.
Person is not my friend and not someone I know personally. Was a post on a board. The inquiry thing is what they were told. No indication at all of MS being involved so I don't think we can jump to that as a possible cause. Obviously more information is needed, although the rep did say that their credit/debt ratio was not a problem and just indicated it was the inquiries.
Oh I just read a different post where they confirmed their experience is with the Canadian Amex Plat so that could be a whole different scenario.
@Anonymous wrote:I've had trouble getting CLIs lately because of too many inquiries, but no CLD (although I have tiny limits on my Amex revolvers relative to other cards)
And I think something like 34 inquiries... lol
So you're fine! haha
Imagine what would happen if you garden for a year and let all those inqs drop off!