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Has AMEX minimum required credit limit changed?

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Established Contributor

Has AMEX minimum required credit limit changed?

I tried to transfer 1k of my available credit from my Aspire to my Everyday and I was denied. The letter I recieved stated that the reallocation of credit would drop the Aspire's credit line below the minimum required per American Express policy. The limit for my Aspire is 3K and I was only transferring 1K for utilization purposes regarding my Everyday.

 

Last month, I transfered around 2k to the Aspire from the Everyday with no issues at all. It has been over 30 days since that transfer.

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX Everyday 3.5k, AMEX BBP 3.5k, AMEX Hilton Surpass 2k, BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 6.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 7.5k, Citi Advantage Platinum 5.5k,, US Cash+ 3.5k, Altitude Reserve 9k, Paypal Mastercard 4k, Apple Card 6.5k
Message 1 of 9
8 REPLIES 8
Established Contributor

Re: Has AMEX minimum required credit limit changed?

I would either hit them up on chat or call about it. 

500K+ TCL / 800+ FCOs
Message 2 of 9
Frequent Contributor

Re: Has AMEX minimum required credit limit changed?

Call 'em.  I took my Delta Plat down to $500, before closing it.  However, I could only go down to $3100 on my SPG.

Am Ex | BOA | Chase | Citi | Disc | PenFed | USB | 390K Club
Message 3 of 9
Valued Contributor

Re: Has AMEX minimum required credit limit changed?

Given that the aspire has a $450 annual fee, it likely has to do with the CARD act. I don’t remember what the percentage is for the AF/CL ratio but I bet that’s in play.




Total Revolving Limits $194,600

FICO 8 scores 04/2019
EX-778
TU-714
EQ-716
Message 4 of 9
Valued Contributor

Re: Has AMEX minimum required credit limit changed?

The Aspire has a minimum SL of $3,100. Could be the reason. 






Message 5 of 9
Established Contributor

Re: Has AMEX minimum required credit limit changed?

According to the CARD act, the upfront fees to open an account cannot exceed 25% of the CL. 

Message 6 of 9
Established Contributor

Re: Has AMEX minimum required credit limit changed?


@Steve891 wrote:

The Aspire has a minimum SL of $3,100. Could be the reason. 


is this true? I did upgrade to the Aspire from the no fee hilton which had a 1k limit at the time.

 

I guess that does explain why it didnt work and also my annual fee hasnt even been charged yet (upgraded Mar 9)

 

@SBR249 wrote:

According to the CARD act, the upfront fees to open an account cannot exceed 25% of the CL. 

 

The 450 fee is less than 25% of the proposed 2k limit I wanted. However, I do currently have a balance on the card as well so maybe thats why.

Amex Gold NPSL, Amex Hilton Aspire 3k, Amex Marriott Bonvoy 1k, AMEX Everyday 3.5k, AMEX BBP 3.5k, AMEX Hilton Surpass 2k, BOA Cash Rewards 8.2k, BOA Better Balance Rewards 2k, Care Credit 15k, Chase Amazon Visa 19.825k, Discover 6.8k, Discover 12.5k, Nordstrom Store 4.5k , Fidelity Visa 10k, Cap 1 QS 15k, Cap 1 Savor 10.5k, Citi Rewards+ 4.4k, Citi DC 7.5k, Citi Advantage Platinum 5.5k,, US Cash+ 3.5k, Altitude Reserve 9k, Paypal Mastercard 4k, Apple Card 6.5k
Message 7 of 9
Moderator

Re: Has AMEX minimum required credit limit changed?


@SBR249 wrote:

According to the CARD act, the upfront fees to open an account cannot exceed 25% of the CL. 


+1

Chase | Citibank | Amex | BofA | PenFed | NFCU | Discover | 5/3rd | Synovus | Commerce | FNBO | Union Bank | Regions
Message 8 of 9
Valued Contributor

Re: Has AMEX minimum required credit limit changed?


@mr_suave wrote:

@Steve891 wrote:

The Aspire has a minimum SL of $3,100. Could be the reason. 


is this true? I did upgrade to the Aspire from the no fee hilton which had a 1k limit at the time.

 

I guess that does explain why it didnt work and also my annual fee hasnt even been charged yet (upgraded Mar 9)

 

@SBR249 wrote:

According to the CARD act, the upfront fees to open an account cannot exceed 25% of the CL. 

 

The 450 fee is less than 25% of the proposed 2k limit I wanted. However, I do currently have a balance on the card as well so maybe thats why.


Yeah, if you apply for the Aspire card, the minimum approval SL is $3,100.






Message 9 of 9
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