X1 Credit Limit Decrease

[Alucard]

Received approval for an X1 card earlier this year for $25,000. I used the card for internet purchases as you can request a one time credit card number which protects me against fraud and paid it off each month. Recently I received a notification that my credit limit was reduced to about $9,000. After doing some research it seems this has happened with a lot of customers.

 Overall i've had a postive experience using the card, but having the limit decreased is a little frustrating. I just wanted to share my experience with you guys just in case you are thinking about getting the x1.

[FinStar]

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@Alucard wrote:

Received approval for an X1 card earlier this year for $25,000. I used the card for internet purchases as you can request a one time credit card number which protects me against fraud and paid it off each month. Recently I received a notification that my credit limit was reduced to about $9,000. After doing some research it seems this has happened with a lot of customers.

 Overall i've had a postive experience using the card, but having the limit decreased is a little frustrating. I just wanted to share my experience with you guys just in case you are thinking about getting the x1.

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Thanks for sharing recent DPs, but honestly, not surprised on X1's recent CLDs.

Aside from the bling factor, most people on here (and elsewhere) were attracted by their (easily exploited) invite-exclusivity, SP approvals and astronomical SLs. Now that their CC portfolio has reached a certain performance level and maturity cycle including capital ratios, it's fairly easy to see they've revaluated individual CLs and determined a plethora of customers are not using them to such capacity. 

Now, you don't see many folk rushing to apply for X1 which is usually what happens when FOTMs lose momentum.

ETA - didn't both of your Discover CCs get a CLD recently as well? 

[805orbust]

Oh brother... here we go with these guys. Sorry to hear this @Alucard .

[silver_idle]

Sorry to hear that. Could you share some additional DP like your current credit score, inquiries, number account accounts with limits, balances (or utilization) as well as income (since X1 relies mostly on income in their decision)? So far I have had good experience with X1, but I am cautious about them as well as any creditors when it comes to any AA like CLD or closure

[Guyatthebeach]

Alucard,

Sorry this happened to you, but this is a continuing trend with X1. I use my X1 card for some recurring charges,and I'm waiting for them to cut my CL.

Dont worry, because there are much better cards out there. 

Guyatthebeach

[EAT_SLEEP_JEEP]

Sorry to hear about the CLD. i don't have any super high CL cards yet but it does seem to be something to be wary of even outside of AA with banks especially depending on the financial winds are blowing for them or the CL on the card isn't really being utilized 

[Alucard]

average credit score is 710 (should go up once I pay off some balance transfers). Utilization is around 11%. At the time of the increase I had 2 inquiries in 24 months. Income is around $115,000.

It seems a lot of cardholders are experiencing the same thing:

Link #1

Link #2

Link #3

[Credit-hoarder]

Sorry to hear about the CLD OP. I started the X-1 app process over the Summer-but bailed once the process started getting real complicated b/c I have some good CLs already and to me it wasn't worth it. Glad now I made that decision. Sounds like the Cap One haircuts all over again.

[DJRobbieD]

I just proactively closed my X1 account. I was approved for $30k back in Nov 2021. I only put a month's worth of spend on it before it ended up getting sock drawered in favor of better rewards cards. With these CLD DPs popping up lately, I figured it was only a matter of time before X1 came after my account for non-usage.

Hindsight 20/20, it was mistake applying for the card. Lesson learned about chasing FOTMs

[Remedios]

Ya know what really hurts ... after months of "stop sharing referrals! TOS bruh!!!" even to the point of having sticky thread about that..now it's "bleh, this sucks"