Amex Account Health/Status Question

[Tomew2000]

The review was actually prompted by an unwitting mistake on my part.  I’d purchased a desk from my ex wife’s antique store.  She’s a cardholder on my account.  I found out afterwards that that’s a major and hard “no”. In fact, they normally close your account for that.  Hence it forced a review and a CLD 

    My financial picture is roughly the same as then. I seem to remember during the process there, someone at Amex telling me that they could only do that every 6 months, by law.  In retrospect, I’m not sure whether the gentleman was referring to financial review or CLD. 

     I’ve actually thought about simply calling and checking on my count status, but am afraid the call in itself may be a red flag 

[Tomew2000]

I was reading through.  Thanks.   I don’t see, however in the first or last 10 pages anything related to CLD. Just CLI.  Did I miss something?

[Tomew2000]

Yes. Exactly

[Tomew2000]

Yes. I had a conversation with someone there when I was under Review.  He had mentioned that they were only allowed by law to do that every 6 months.   In retrospect, I’m not sure whether he meant a formal review or whether that applied to CLDas well

[Tomew2000]

I’ve been trying to ascertain my standing with Amex.(Apologies to those that read my last post, it’s repetitive. It occurred to me that I’m not asking the right question)   I went through review last March, after being a card member for 33 years. It wasn’t due to my credit, but a purchase I made from my ex wife’s store(she had a card on my account) .  That resulted in a CLD of $6000.   Over the past few up and down years, I’ve had a few CLDs(no other review) , as well as CLIs.   

    Currently, I have a “hard” limit due to the review, but when I try the “check your spending power”  it says that they will allow me $25000 over my limit.  I’ve called in about that, and the CSR says it’s not an error.   Any input on that would be interesting to hear

    At any rate, Sept is the 6 month mark since the review.  I’d like to be prepared if there’s another CLD coming. So, a couple of questions if anyone has any knowledge here

   1). After review, do they have to wait 6 months before imposing another CLD?  I know review can’t be less than 6 months, but I’m not sure about CLD.   If they don’t need to wait to impose a CLD, then I’m probably ok, since my picture has improved since June/July 

2) I’ve thought of simply calling them to discuss my account health.  That may be a red flag in itself.  Any thoughts there?

    Thanks for reading this and any advice input.  My Amex is my primary tool for running my business, so I’m very concerned about interruptions 

[UncleB]

Hi @Tomew2000, it is easier to see who you're replying to if you tap the 'quote' button before you type your reply.

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[Anonymous]

OP, if you replace "adjust" with"CLD" in the title of your original post, you will probably get more answers from ppl with knowledge about CLDs.

Is he allowed to do that @UncleB ?

T2000

From what I've seen... No, CLDs are not limited to every 6mo. CC companies can CLD, at will, at any time based on your credit behavior. Balance chasing is mentioned in responses to your original post. Per recent posts, it can be monthly, or every time you make a payment. If I remember correctly, in August there were posts about balance chasing, Synchrony was hitting every account the poster had with them. But, I think it also took a tole on that person's Amex.

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@Tomew2000 wrote:

I’ve been trying to ascertain my standing with Amex.(Apologies to those that read my last post, it’s repetitive. It occurred to me that I’m not asking the right question)   I went through review last March, after being a card member for 33 years. It wasn’t due to my credit, but a purchase I made from my ex wife’s store(she had a card on my account) .  That resulted in a CLD of $6000.   Over the past few up and down years, I’ve had a few CLDs(no other review) , as well as CLIs.   

    Currently, I have a “hard” limit due to the review, but when I try the “check your spending power”  it says that they will allow me $25000 over my limit.  I’ve called in about that, and the CSR says it’s not an error.   Any input on that would be interesting to hear

    At any rate, Sept is the 6 month mark since the review.  I’d like to be prepared if there’s another CLD coming. So, a couple of questions if anyone has any knowledge here

   1). After review, do they have to wait 6 months before imposing another CLD?  I know review can’t be less than 6 months, but I’m not sure about CLD.   If they don’t need to wait to impose a CLD, then I’m probably ok, since my picture has improved since June/July 

2) I’ve thought of simply calling them to discuss my account health.  That may be a red flag in itself.  Any thoughts there?

    Thanks for reading this and any advice input.  My Amex is my primary tool for running my business, so I’m very concerned about interruptions 

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[rbentley]

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@Tomew2000 wrote:

    Currently, I have a “hard” limit due to the review, but when I try the “check your spending power”  it says that they will allow me $25000 over my limit.  I’ve called in about that, and the CSR says it’s not an error.   Any input on that would be interesting to hear

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I have wondered about this as well.  I have a $2,000 CL on my ED card.  When I check spending power I can go to at least $5,000.  I haven't check higher.  What happens if I do make a $5,000 purchase on it?.  Is my CL adjusted, even temporarily, up to that amount?  Am I now at 250% UTL.  Do I need to pay it down below my $2,000 SL before the month is out?  Is this a good strategy for gousing up your CL?

[EAJuggalo]

My understanding is that everything over the limit would have to be paid down by the due date of that cycle.  So if you make a purchase that they allow that puts you over your limit on the 15th, your statement cuts on the 1st you'd have until the 26th to pay that below the limit.  I may be incorrect but that is what I recall reading here.