Hard Limits on AMEX Charge Cards

[injustifiiable]

Well, AMEX sent me a note today letting me know that they've put a $2,000 hard limit on my PRG.

I may be closing it soon if I can't get a downgrade to the Green (March will be the end of my first year that I had with no annual fee), but in the interim I was wondering if AMEX will start reporting the hard limit on my credit reports. My next statement cuts next week.

Thanks in advance!

[Anonymous]

thats crazy ! do you think you did something they didnt like ?

[Anonymous]

I don't think they will report it as a limit on your report.  They just won't approve of any charge that would take you above that outstanding balance.

im curious as well as to what led to them doing this.

[injustifiiable]

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@Anonymous wrote:

I don't think they will report it as a limit on your report.  They just won't approve of any charge that would take you above that outstanding balance.

im curious as well as to what led to them doing this.

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That's good to know in any case. I'm curious as well but I'm not sure if I want to "poke the bear" so to speak. I have a couple of ideas but don't really want to speculate. I only run around $500-$600 a month on it PIF. I do have a couple of high balances on other cards from the holidays...not sure if that played a role but not too worried. Like I said, I may be closing it soon because of the annual fee...am still trying to get an AMEX revolver but FICO's are on the lower side for them (last denial letter I got from them had EX in the 650's)

[Anonymous]

Wow, does anyone have a good idea what prompts AMEX do make a move like this?

[Anonymous]

Have you ever pushed $2000 or more spend through in a month on this card? I wouldn't mind a hard limit on either of my AMEX charge cards so long as it was in excess of my highest monthly spend on each specific card. 

[injustifiiable]

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@Anonymous wrote:

Have you ever pushed $2000 or more spend through in a month on this card? I wouldn't mind a hard limit on either of my AMEX charge cards so long as it was in excess of my highest monthly spend on each specific card. 

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Nope...my monthly spend on it is only around $600 or so maybe more, which is why I'm not making too big a stink about it. $2,000 is plenty for now. I still might call and ask what prompted them to do this just to get a better idea of what's going on.

[Anonymous]

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@injustifiiable wrote:

Well, AMEX sent me a note today letting me know that they've put a $2,000 hard limit on my PRG.

I may be closing it soon if I can't get a downgrade to the Green (March will be the end of my first year that I had with no annual fee), but in the interim I was wondering if AMEX will start reporting the hard limit on my credit reports. My next statement cuts next week.

Thanks in advance!

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@Injustifiable,

Sorry to hear that.. As others have stated, we are curious as to why AMEX will do something like this. 

[ojefferyo]

Something they see that they don't like, I highly doubt they just randomly pulled an account out of a box and said we're gonna put a hard limit on this one. 

[Anonymous]

I have a corporate card and they did the same thing on mine back before I started rebuilding. I imagine something came up on my soft pull that wasn't in line with what they want.

Those corporate cards are more like the personal charge cards, I think.