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Amex cut me down fr 30K to 6K

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Anonymous
Not applicable

Amex cut me down fr 30K to 6K

Too many inq;
Payment to balance ratio
Study shows ability to pay etc..
 
I am pissed--I just paid 5500.00 and will kill the card next statement. Fact Amex.
 
Anyone with this disgraceful action fr Amex? Am I alone???Smiley Mad
Message 1 of 40
39 REPLIES 39
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

This seems to be the norm. Sorry they wacked your limit.
Message 2 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

Do as I did and just don't use the card at all instead of closing it. Just sit it in the SD and let it collect dust
Message 3 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K



howardi wrote:
Too many inq;
Payment to balance ratio
Study shows ability to pay etc..
 
I am pissed--I just paid 5500.00 and will kill the card next statement. Fact Amex.
 
Anyone with this disgraceful action fr Amex? Am I alone???Smiley Mad


Sorry to hear.  What was your utilization before they chopped you and how long had you been carrying that balance?
 
Message 4 of 40
smallfry
Senior Contributor

Re: Amex cut me down fr 30K to 6K



@Anonymous wrote:
Do as I did and just don't use the card at all instead of closing it. Just sit it in the SD and let it collect dust



Probably the best course of action at this time. I wonder how far down they intend to walk the limit down?
Message 5 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

sorry to hear. Another reason why I refuse to ever do business with AmEx
Message 6 of 40
MidnightVoice
Super Contributor

Re: Amex cut me down fr 30K to 6K



firstinlastout wrote:
sorry to hear. Another reason why I refuse to ever do business with AmEx


..or Chase, or Citi, or BofA or any major CCC at the moment  Smiley Very Happy
 
They are all doing it
The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid
Message 7 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

I had 6K bal w/ a 30K limit..Seems so unfair, but BOA offered me a CLI of 20K on all three cards which should make up. Still pissed at them.
Message 8 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

Citibank did it with my wife. Amex left her alone.
Message 9 of 40
Anonymous
Not applicable

Re: Amex cut me down fr 30K to 6K

I am tempted to close it out of anger but, will consider ur advise.May just have to grin and bear it for six months.Smiley Mad
Message 10 of 40
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