Amex just cut my credit limit

[Tomatoshadow2]

Hey everyone,

Amex just cut my credit limit on my Blue Cash preferred, only use the card for about 165 each month. I do have a large balance on my Gold card, that is always pay Overtime though, never missed a Amex payment. Is this Adverise Action or do you think, just because I don't use the card a lot? Should I try to call to get it restored?

[GApeachy]

Only one way to know for sure....call,  try to get it restored.  

[OmarGB9]

I feel like it's a combination of low usage plus constantly carrying balance on Gold plus current economic climate.

[blindambition]

Sorry about your CLD OP! How large is the amount your carrying? How long have you carried?

I have a BCP, with $15700 limit. About $300 a month spend, and no decrease. Statement just closed.

You can try for reinstatement. Very possible if it isn't related to balance.

[HeavenOhio]

AMEX has been restoring limits fairly easily if the reduction is related to low usage. If the reduction is related to high balances carried over time, they may offer to restore the limit if a customer pays a designated amount by a certain date.

[SecretAzure]

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@Tomatoshadow2 wrote:

Hey everyone,

Amex just cut my credit limit on my Blue Cash preferred, only use the card for about 165 each month. I do have a large balance on my Gold card, that is always pay Overtime though, never missed a Amex payment. Is this Adverise Action or do you think, just because I don't use the card a lot? Should I try to call to get it restored?

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Do you have any other spend on this card? $165 at 6% might actually make Amex BlueCash Everyday more valuable in terms of Cashback to you. You may want to consider a PC, especially if they're lowering your limit on you. 

[Tomatoshadow2]

So I just spoke with a rep it might be DTI ratio, which is still high for me, and I have mutiple balances on my other cards. I should of figured that right away, just didn't think about it, because DTI ratio has been high for a while, with zero adverse action from anyone. Payment history on every card I have is perfect.  My Gold card just got the high balance this week, as I put a down payment for a new vehicles. All of what I put on the card is streaming, so it makes more sense then the normal Everyday for me. I was told, just have to upload tax return from last year, will get a response within ten days. Also, could always let Amex know when DTI decreases rep said and could go for a credit line increase. Gold card is totally unaffected even with a large balance he asured me, only adverse reaction was on the BCP. So, not too worried, just want the limit back, just to have it reduce DTI for now. Rep was really helpful and undertanding, even complimented my payment history with Amex. Also, I'm going to start using my Gold as daily driver, one of the lowest interest rates I have besides Discover.

[AverageJoesCredit]

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@Tomatoshadow2 wrote:

So I just spoke with a rep it might be DTI ratio, which is still high for me, and I have mutiple balances on my other cards. I should of figured that right away, just didn't think about it, because DTI ratio has been high for a while, with zero adverse action from anyone. Payment history on every card I have is perfect.  My Gold card just got the high balance this week, as I put a down payment for a new vehicles. All of what I put on the card is streaming, so it makes more sense then the normal Everyday for me. I was told, just have to upload tax return from last year, will get a response within ten days. Also, could always let Amex know when DTI decreases rep said and could go for a credit line increase. Gold card is totally unaffected even with a large balance he asured me, only adverse reaction was on the BCP. So, not too worried, just want the limit back, just to have it reduce DTI for now. Rep was really helpful and undertanding, even complimented my payment history with Amex. Also, I'm going to start using my Gold as daily driver, one of the lowest interest rates I have besides Discover.

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Looks like they want income verification so regardless what csr told you, it could affect all your accounts with Amex if it doesnt match up with what they have on file. 

[Tomatoshadow2]

Which I don't mind at all, I have my tax return, and the income on there is the stated income to them, so should I still be worried?

[NRB525]

No reason to be worried when your tax return agrees as your income. 

For reference can you list out your other cards and how much they are carrying for balances? Datapoints are of interest to the community. 

The typical CLD I've heard of is Blue Cash, and also no usage, not the AF BCP regardless of usage. So this sounds to me like a FR, not a random AMEX limit cut.