@Red1Blue wrote:
Important Account Status
Notice of Credit Limit Reduction
Your Account ending in
Log in to Manage Your Account Online
Dear xxxxxx
We are contacting you to be sure you do not have any surprises when you use your card. In this difficult economic environment, we all need to make choices about how we spend and save. For us, that means carefully reviewing the spending and debt profiles of our Cardmembers - and making some difficult decisions. Unfortunately, we have had to make the decision to lower the credit limit on your account listed above.
Your revised credit limit for purchases is now $1,000.00. The new cash advance limit is $0.00. Please ensure that any additional Cardmembers on the account are also aware of this change so they do not have any negative experiences when they use the Card.
You will also receive this information by letter, but we wanted to be sure you were aware of this change as soon as possible. We strive to be a responsible lender during both prosperous times and more challenging ones, and we do remain committed to our relationship with you.
Sincerely,
American Express Account Services
Privacy Statement Contact Customer Service Add Us to Your Address Book
This Customer Service e-mail was sent to you by American Express. You may receive customer service e-mails even if you have requested not to receive marketing e-mails from American Express.
Copyright 2009 American Express Company. All rights reserved.
FLGEUFLG0212001
WOW this is terrible I have never carried any balances on Amex for more than one month. Usually I transfered to BOA becuase they always had a 0.00 deal. Maybe that is what has protected my huge credit lines with Amex. I never really used the blue just had it for emergecies. I always used the Plat and of course paid at the end of the month. Maybe thats why they havent touched my credit amounts.
Amex is certainly being inconsistent. (duh)
My girlfriend's first CC was an AMEX Blue Cash that she got 3 months ago. The only other thing on her CC is an auto loan that has 2.5 years left on a 5 year loan, that has never been late. Her EQ FICO was 690 before any CC's reported.
She got a $4,000 limit with a very small income (grad student). At my urging, she only uses the cards to make sensible online purchases and to eat out (since there have been reports that AMEX is weird about shopping at certain stores). She pays the card every week or so if there is a balance to be paid.
She also got a $2,500 USAA MC that she uses for gas/groceries/stores-that-AMEX-looks-down-its-nose-at.
Granted, she has a flawless credit history, but she is a very limited credit history, and a reported income of less that $30k.
Perhaps AMEX gives that much weight to not having a single baddie on your reports, moreso than having a flawless payment history on their card. Sort of like how BoA will not give me a CLI because of other issues on my CR, even though I have never missed a payment in 5 years on my BoA CC.
Starting Score: 540 EQ 517 TU on 11/17/08well, they should screen more carefully then, because with me whispering in her ear, she will NEVER pay a finance charge, NEVER let more than 9% report on more than one of her cards, and will ALWAYS pay her other cards in full while rotating which one reports a modest balance.
She also has two middle-class parents with scores in the 800's who set fantastic examples.
What Iwouldn't give to be able to go back in time and start fresh, knowing what I know now.