No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I defaulted on my Amex Plat card back in 2016, ended up paying off the total balance in March of this year and had the card reinstated. They put a preset limit on it of $2000, but was told after 6 months I could call and see if it would be raised or removed. I called today (7th statement cut) and they said that when I agreed to reinstate my account it said in the agreement (apollo program is what she was referring to? I don't remember that being anywhere) I would have to have this $2000 for 3 years before being removed.
Is this something others have experienced? I have seen a couple people on this forum have their preset limit removed way before 3 years after reinstating their account. I spend about $4k-$6k/mo on the card and pay it off completely each month.
Any insight would be helpful!
Unfortunately, it's something that's different from person to person. There hasn't been any established ways to speed up the process. I currently have a 2k limit and from everything I've found online, it could take years to remove. Spending above the limit every month doesn't appear to have any bearing on their decision.
When you're ready, you might consider just apping for a different charger (Amex Gold, for example) to get a new account without a hard cap. Then you could PC to the Plat down the road. Just a thought.
Have you been through the reinstatement with Amex? If so, I have a couple questions if you don't mind. Today is the first time hearing about this Apollo program and am interested. I recently got an offer for this via email.
Ty!
Most (if not all) of the data points for imposed limits on charge cards being lifted back to NPSL here will be for cards that remained open. Unfortunately your scenario, while not completely unique, with a previously closed account being reinstated with a hard limit isn't one we commonly see.
I had my hard limit removed recently. They originally issued me a NPSL Gold. I never fell behind or made any lates. I did utilize the Plan It feature that allows you to pay over time. I used that a few months. Then, they decided to put a hard limit on my card at $2800. I was there for about 6 months and they raised it to $5700. I had that for about another 6 months and they just recently lifted it. Like I said, I never defaulted or was late, just utilized it more like a credit card than a charge card for a few months and they put the hammer on me. It was a crazy few months. I had a lot of expenses and my credit score was suffering because I was carry a balance on another card as well. Hopefully they will lift your hard limit too. Good luck.
@mattayy wrote:I defaulted on my Amex Plat card back in 2016, ended up paying off the total balance in March of this year and had the card reinstated. They put a preset limit on it of $2000, but was told after 6 months I could call and see if it would be raised or removed. I called today (7th statement cut) and they said that when I agreed to reinstate my account it said in the agreement (apollo program is what she was referring to? I don't remember that being anywhere) I would have to have this $2000 for 3 years before being removed.
Is this something others have experienced? I have seen a couple people on this forum have their preset limit removed way before 3 years after reinstating their account. I spend about $4k-$6k/mo on the card and pay it off completely each month.
Any insight would be helpful!
I think you should just be glad they reinstated your card. That is pretty rare.
Just make your payments and sooner or later they'll ditch, or increase, your hard limit.
@CreditChemistry wrote:I had my hard limit removed recently. They originally issued me a NPSL Gold. I never fell behind or made any lates. I did utilize the Plan It feature that allows you to pay over time. I used that a few months. Then, they decided to put a hard limit on my card at $2800. I was there for about 6 months and they raised it to $5700. I had that for about another 6 months and they just recently lifted it. Like I said, I never defaulted or was late, just utilized it more like a credit card than a charge card for a few months and they put the hammer on me. It was a crazy few months. I had a lot of expenses and my credit score was suffering because I was carry a balance on another card as well. Hopefully they will lift your hard limit too. Good luck.
Glad you got the hard limit raised, then removed.
I added a ~$9k Plan It on my Gold nearly a year ago, on a $0 fee offer, nearly have that paid off. Just added, end of April, a Plan It $0 fee item on my Platinum with a $4,500 charge. No indication yet that any hard limits have been imposed on either card.
@CreditChemistry wrote:I had my hard limit removed recently. They originally issued me a NPSL Gold. I never fell behind or made any lates. I did utilize the Plan It feature that allows you to pay over time. I used that a few months. Then, they decided to put a hard limit on my card at $2800. I was there for about 6 months and they raised it to $5700. I had that for about another 6 months and they just recently lifted it. Like I said, I never defaulted or was late, just utilized it more like a credit card than a charge card for a few months and they put the hammer on me. It was a crazy few months. I had a lot of expenses and my credit score was suffering because I was carry a balance on another card as well. Hopefully they will lift your hard limit too. Good luck.
Do you think it could be high utilization and a score drop that caused the hard limit rather than carrying the balance?
Quite possibly. I think I was running around 50% utilization at the time, and to make it worse, I did a student loan consolidation and added another car loan, if I remember right. I know my AoA was wonky around that time. Basically, I know I looked risky to Amex, so they kept me in line. I also had a fairly new account (less than 3 years, maybe). I just realized that card isn't even listed in my signature. I haven't updated it in so long. It's the Rose Gold AmEx offer that they did temporarily, and then took away, and now I see it's back.
The hard limit wasn't really that bad, really. Anytime I got close to it, they would just send me an email and ask me to pay down my balance a bit. I kinda think I might have someone tricked my way out of the hard limit. Not really sure. Here's what happened around the time it lifted:
I have auto pay set up on my card to pay the minimum payment (just in case I forget). Well, I have been working with boosting my score, so I have been paying my balances down to under 9% right before the bill prints. Somehow I managed to overpay by $900, and I had a credit. I know it was because I overlooked the pending auto pay, and still paid down my balance to below 9%....just don't understand how I overlooked it. Lol. Thankfully, I had the buffer. It was right after that payment cleared my bank that I got the email from Amex, telling me they were lifting my limit. Now, it was about 6 months after they had doubled my hard limit, and my credit score has been taking leaps, so I'm not sure if it's coincidental or what.
Hope these stats help you all.