So, AA happened... Amex is terrible...

[JSS3]

For opening new accounts?

[Anonymous]

Not really sure. Most likely not for new accounts. Its been quite a while but back then I had a late payment or two so probably due to that more than anything else. 

Its been so long its off the reports now. 

[CreditCuriosity]

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@bonehead88 wrote:

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@CreditCuriousity wrote:

 Why wouldn't a lender want to see alot of useage?   If they give someone a 10k CL that is tieing up money from someone else that could use it..  Gotta show useage especially if you are apping alot or they think spend is going to others, which it is..  

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So basic question - does it actually work like this? Genuinely curious.

I always thought that there was no hard limit for each bank so that my $10K was taking away from their ability to approve others.

The vast majority of people never use most of their credit line anyway so I assumed it was just a digital number like most of the financial system.

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Yes bank have to have reserves.. They can only lend out X amt. to their reserves.. No clue of that ratio

[kdm31091]

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@JSS3 wrote:
Oh yeah...Citi never CLD or closes accounts for too many new accounts/inquiries right? If so, add them to the list of companies not acting like jealousss hawks.

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Never say never. Any credit can CLD or close accounts at will, especially if you are doing "risky things" like a lot of new accounts. And for the record, Citi has definitely taken AA on some people on this forum.

[Anonymous]

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@kdm31091 wrote:

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@JSS3 wrote:
Oh yeah...Citi never CLD or closes accounts for too many new accounts/inquiries right? If so, add them to the list of companies not acting like jealousss hawks.

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Never say never. Any credit can CLD or close accounts at will, especially if you are doing "risky things" like a lot of new accounts. And for the record, Citi has definitely taken AA on some people on this forum.

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CLD from Citi (and Chase) around 2009/10. 

[JSS3]

Citi CLD----For new accounts????

[kdm31091]

Happened to popamode...it was awhile ago, but yes, he got a lot of new cards and Citi shut him down.

[Anonymous]

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@kdm31091 wrote:

Happened to popamode...it was awhile ago, but yes, he got a lot of new cards and Citi shut him down.

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And they wouldn't reinstate due to being under 21. Sad affair.

[Anonymous]

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@takeshi74 wrote:

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@Anonymous wrote:

So, AA happened... Amex is terrible...

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@Anonymous wrote:

Welp, it happened. I experience my first AA today, due to all my excessive apping within the past few months.

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AmEx isn't your problem. AA due to excessive apping is possible with any creditor.  it is unfortunate but it could have been worse.  You can rebuild from  CLD over time with responsible usage.

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@Anonymous wrote:

Even with my inquiries, I'm still pretty upset that they'd do this to an extremely responsible customer

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Do not rely on "relationship", usage, etc.  Excessive (up to the creditor to determine) credit seeking is a red flag.

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I think it would help a great deal if someone could clearly define what responsible usage is?  Just making MP?  PIF each cycle?  low UTIL?  etc/ etc.

[Anonymous]

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@Anonymous wrote:

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@takeshi74 wrote:

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@Anonymous wrote:

So, AA happened... Amex is terrible...

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@Anonymous wrote:

Welp, it happened. I experience my first AA today, due to all my excessive apping within the past few months.

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AmEx isn't your problem. AA due to excessive apping is possible with any creditor.  it is unfortunate but it could have been worse.  You can rebuild from  CLD over time with responsible usage.

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@Anonymous wrote:

Even with my inquiries, I'm still pretty upset that they'd do this to an extremely responsible customer

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Do not rely on "relationship", usage, etc.  Excessive (up to the creditor to determine) credit seeking is a red flag.

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I think it would help a great deal if someone could clearly define what responsible usage is?  Just making MP?  PIF each cycle?  low UTIL?  etc/ etc.

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PIF.