We use fico, no he has 4 cards the other three have zero balance
Last question, I promise (from me at least)
What is the balance of the American Express card right now, and what did they reduce limit to?
If all of his credit cards have a $0.00 balance, there is a penalty for that (yeah I know 😒).
As soon as one card reports a balance, points will be back
Thanks for sticking with us and giving us further info. Yes definitely all accounts reporting zero would explain a score dip like that; since there are no balances to divide by credit limits reducing that card to $5000 or $50 or increasing it to $50,000 would make no difference on scoring in any scenario. Reporting a balance doesn't mean one needs to be carried and interest paid, of course. FICO just needs to see that credit is being used and being used responsibly.
In this case, it may actually be worth a call to Amex to see if they will reconsider the CLD since it's not really balance chasing and your husband's circumstances have changed.
Did you call and ask for the credit limit to be resored?
I know this happened to me with Amex on my Blue card many years ago and they were balance chasing me... they were able to restore my limit if I paid the balance in full. (I know you already did... doesn't hurt to ask )
Credit Balances over 30% raise a risk indicator... 19,000 Credit Limit shouldn't have more than $5,700 revolved...
Not trying to jack the thread, but I have a very similar circumstance with AMEX and had an additional question to ask....
Since I got my AMEX BCP back in April '20, I took advantage of the 0% promo. My SL was only $2000 (substantially below my other limits) and I have maintained a balance between $1400-1800, paying off slightly more than the minimum each month, then adding more, etc. I haven't attempted my first 3x CLI because I have planned to pay the balance to zero by March this year with a couple of large payments. Now, I intend to simply BT the balance over to Discover ( Disco is offering me a 12/mth 0% BT). I'm wondering, given the current climate and experiences like the OP has mentioned, "IF" they don't CLD my poor little $2k limit, how that might affect the 3x CLI attempt after I clear the balance?