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So, I checked my account online, available credit from 16k down to 1k.
Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?
And close, or sockdrower? I'm thinking close before they close it for me......
sorry this happened. i have also received cld from amex 3x's so far (currently at 2.5k cl) and am left wondering if they'll keep going down to 500 and then close. i prefer to think they will change gears since my reports are in v. good shape and looking better every day but it is not unlikely that i am deluding myself with this hope.
i would if possible pif and sock drawer making a small purchase every couple of months and pif. they may continue to cld to 500 and then close the account if they are trying to unavail themself of the account completely as they have done to other card holders- or not... it may also depend on the reason for the cld, or have no rhyme or discernable reason. try to be prepared to replace the tl if you'll need to and to help with lost uti.
@Anonymous wrote:So, I checked my account online, available credit from 16k down to 1k.
Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?
And close, or sockdrower? I'm thinking close before they close it for me......
@Anonymous wrote:So, I checked my account online, available credit from 16k down to 1k.
Meaning, my credit limit is now a measly 4k. Oh, and I'm carrying a 3.5K balance on it, too! Hah, unbelievable! I'm thinking, should I call and try to get my CL back? Or should I let it be?
And close, or sockdrower? I'm thinking close before they close it for me.....
Amex recently cut my CL from $8900 to $1000. I had a 0 balance on the card at the time.
Unfortunately, it sounds like they are chasing your balance. If you make more payments, I'd expect them to continue to lower your CL to either $500, or close it entirely when the account is PIF.
I guess they have every right to believe that I am a "risky" customer. I recently charged 2k on my Citi for college tuition. Then I applied for a couple credit, and being denied for a BOA Amex.
Amex must believe that I am in desperate need for credit, so I guess one solution to protect themselves is to lower my available credit to an extreme. I will give it a couple more cycles to see if they are, in fact, trying to chase down my balance. Then I will close.
You don't have to do much to be "risky" in their eyes. They've been messing with me for over 1 year and my last letter from them said I had an auto loan from an "undesireable lender" and that was why they were CLD. The undesireable was CapOne and I was a co-signer to my husband, we only had the loan for a short while with Cap and then moved to NMAC.
Famex!!