X1 Credit Limit Decrease

[longtimelurker]

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@DJRobbieD wrote:

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

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Trouble is, not all FOTMs are bad (AOD is still very good for example, and those that didn't chase have now missed out).   So, as in so much in life, the problem is to distinguish the good ones from the bad!

(And yes, LTL Bank DOES have an app for that, but only for our Premium Executive Super Really Important tier of customers)

[AZ-Jeff]

Thanks for the heads up @Alucard - I don't use the card that much--so I'm just waiting for my CL haircut from X1.  I'm hearing rumors they are going to make it an AF card. Hope it's just a rumor!

[Guyatthebeach]

If X1 becomes an AF card, I will close mine in a heartbeat. I've seen a card company add an annual fee to a card, but it could happen. 

We will see.

Guyatthebeach

[longtimelurker]

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@Guyatthebeach wrote:

If X1 becomes an AF card, I will close mine in a heartbeat. I've seen a card company add an annual fee to a card, but it could happen. 

We will see.

Guyatthebeach

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Assume you mean "haven't seen"!    I was trying to remember what happened to the Cap One Savor.   Didn't that "split" into an no AF fee with less rewards and a $95 with the original rewards (current owners were grandfathered)?  While that could be viewed as a nerf on the no AF version, it's a little like adding a fee!   Or am I misremembering?

[Guyatthebeach]

Longtimelurker,

I got the original Savor card with 4% cash back that had no annual fee. I got a letter saying my Savor card would be grandfathered for no annual fee. I remember them saying new applicants would have the $95.00 annual fee on new card accounts. 

I have never had or seen a card company add an annual fee to an existing card without doing a product change to warrant the annual fee.

Guyatthebeach

[longtimelurker]

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@Guyatthebeach wrote:

Longtimelurker,

I got the original Savor card with 4% cash back that had no annual fee. I got a letter saying my Savor card would be grandfathered for no annual fee. I remember them saying new applicants would have the $95.00 annual fee on new card accounts. 

I have never had or seen a card company add an annual fee to an existing card without doing a product change to warrant the annual fee.

Guyatthebeach

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OK, you meant (reasonably enough!) never a case of "Sorry, now you have to pay the AF on this previously free card".  As compared to grandfathering existing ones and making new ones pay.  Right, I don't know an example either, but still, Savor is a card where an AF was added for new users (an extreme case of increasing an AF for new users which is more common)

[LeoTheDOG]

that Annual Fee is referring to a entirely new card not what you have.

~Leo

[andre429]

So I’m mad af X1 sent me an email stating that they was reducing my $30k credit line to $3800. I’m like **bleep**. I only owe $3100 on the account. They say they reviewing periodically. But if I pay $3000 they will put my limit back. Anyone had this issue with them before.