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In Leiu Of The Recent AMEX CLDs Lately...

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Frequent Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...

American Express gave me an automatic credit limit increase a while back (to $12,500) that I didn't want, so I reduced the credit limit to $6000 and asked them to not give me any more auto-CLIs. I recently decreased my American Express credit limit again (to $3000) and on the same day, I decreased my Capital One credit limit (from $5000 to $500 Smiley Happy). So my total credit limit went down $7500, and apparently that lowered my Transunion FICO 8 score by five points.

 

I'm hoping for a credit limit of $10,000 on a new credit card in two months, and I think the decreases I recently made will make it more likely that I get that limit since that would only add up to $2500 more than the total credit limit I had several days ago.

Credit Scores: (FICO 8) 832 Experian January 2020, 824 TransUnion January 2020 | (FICO 9) 848 Equifax February 2020
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $3000 | Simmons Bank VISA Platinum $7500 | Capital One No Hassle Rewards VISA Platinum $500
Message 11 of 27
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Established Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...

I am pretty close to max eexposure with my current limits .the only one a will try to get an increase on is my Citi as it seems to be lagging behind .

Amex Delta Platinum 20k | Amex Hilton Aspire 20k | US Bank Cash+ 25k | Chase Amazon Prime 25.3k | Barclaycard Aviator Red 40k | Bank of America Alaska Airlines 42k | Chase Marriott 50k | Discover It 50.3k | Thank You Premier 52K | EDP 52k | Bank of America BBR 57.9k
Message 12 of 27
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Member

Re: In Leiu Of The Recent AMEX CLDs Lately...

I'm at ~12k and ~22k on my two AMEX cards. Was hoping to get them both to 25k at some point but the recent CLDs are making me think it's wise to lay low for a bit and see how things pan out. Though I will never use all ~34k, I feel more confident running 2-4k/month through these cards since I know it won't hurt my scores.

Wells Fargo Platinum: $10k
US Bank Cash+: $8k
Message 13 of 27
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Moderator

Re: In Leiu Of The Recent AMEX CLDs Lately...

Just added another $14k since “right sizing” became a thing. Yes, I’ll continue to push. I do actually need a higher limit on my Delta Reserve since it’s become my non-category card. No point in taking a ding for exceeding 30% of its limit on months when that is necessary. Ideally, I’d like at least $100-120k just between my Delta Reserve and Starwood Luxury.

I think the conversation is (and should be) quite different between those who have huge Amex limits and never use them and those of us that actually run a huge amount through our Amex cards.
Message 14 of 27
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Valued Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...

My last two Amex approvals were at 30k each. I don't see the need for more than that.  I spend around 6k a month on cards but pay off bi-weekly.  I mean other than to tell people on here I have a 60k limit on a card I don't the point to ask for an increase.  The interest rates on the cards are so ridiculously high that it would make zero sense to ever carry a balance.  Also if they decrease my limits I wouldn't care.  

 

High limits are great the first time you get them. But once they are the norm high limits lose their appeal. Really unless you are early in a rebuild you should never be in a position where a CLD is going to hurt you. 

More cards than I can mention in a signature.
Message 15 of 27
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Moderator

Re: In Leiu Of The Recent AMEX CLDs Lately...

That’s a bit of a broad statement. I’m in no stage of any rebuild, and a CLD on certain cards would certainly hurt me.

Message 16 of 27
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Valued Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...


@K-in-Boston wrote:

That’s a bit of a broad statement. I’m in no stage of any rebuild, and a CLD on certain cards would certainly hurt me.


Why would it hurt you?  

More cards than I can mention in a signature.
Message 17 of 27
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Frequent Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...

AMEX CLDs?  I have not heard about any.  You have links to the threads?




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Current Score: See Above
Goal Score: 775


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Message 18 of 27
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Super Contributor

Re: In Leiu Of The Recent AMEX CLDs Lately...


@K-in-Boston wrote:

That’s a bit of a broad statement. I’m in no stage of any rebuild, and a CLD on certain cards would certainly hurt me.


You’re not the target for this CLD campaign, people who don’t actually use their cards are. I highly doubt you would have anything to worry about K. 



01/2019:
02/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
Message 19 of 27
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Moderator

Re: In Leiu Of The Recent AMEX CLDs Lately...


@frogman1 wrote:

@K-in-Boston wrote:

That’s a bit of a broad statement. I’m in no stage of any rebuild, and a CLD on certain cards would certainly hurt me.


Why would it hurt you?  


Cash flow, potential loss of my preferred rewards, increased utilization.

Message 20 of 27
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