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amex reduced line

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Credit-hoarder
Valued Contributor

Re: amex reduced line

Definitely DO NOT like hearing about this-twice in one day yet! I just opened 4 new accts. over the last month--though only two are currently reporting....and I have a $10K limit on my BCE which I was in total shock when they initially approved me that high. At the time it was my second 5-digit limit approval. Makes me almost with I had not been approved for FI AMEX yesterday....we'll see what happens...

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 21 of 60
EW800
Valued Contributor

Re: amex reduced line

This thread had me thinking about SP's. I track them on a spreadsheet. Looks like Amex does a SP on me about once a month, although twice in March. They have SP'd me six times so far this calendar year - all Experian. Can anyone else comment on how often Amex SP's?
Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2024: EX8: 847; EQ8: 850; TU8: 848 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 22 of 60
Anonymous
Not applicable

Re: amex reduced line


@Credit-hoarder wrote:

Definitely DO NOT like hearing about this-twice in one day yet! I just opened 4 new accts. over the last month--though only two are currently reporting....and I have a $10K limit on my BCE which I was in total shock when they initially approved me that high. At the time it was my second 5-digit limit approval. Makes me almost with I had not been approved for FI AMEX yesterday....we'll see what happens...


It is YMMV thing... 

Message 23 of 60
Anonymous
Not applicable

Re: amex reduced line

One of my friends had his CL with Amex reduced today too, although not as drastic as this. Sucks for everyone.

Message 24 of 60
EW800
Valued Contributor

Re: amex reduced line

I am eligible to put in for an Amex CLI in about two weeks. Based on these reports, I am thinking it might be best to just sit where I am at. Smiley Happy
Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2024: EX8: 847; EQ8: 850; TU8: 848 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 25 of 60
JSS3
Valued Contributor

Re: amex reduced line

@speedster
Not today. Please.
Message 26 of 60
Credit-hoarder
Valued Contributor

Re: amex reduced line

@EW800: I'm eligible for one late next week also and was thinking the EXACT same thing---that $10K CL works perfect for me at the moment. And I"m going to charge my car insurance and my storage unit on it tomorrow as well just in case of the "low spend" theory!

BUSINESS
Rewards Pts.-Miles: UR-MR-TYP-Venture
Message 27 of 60
-Cal-
Valued Contributor

Re: amex reduced line


@Anonymous wrote:

One of my friends had his CL with Amex reduced today too, although not as drastic as this. Sucks for everyone.


lol 

Message 28 of 60
FocusedAndDetermined
Senior Contributor

Re: amex reduced line

This post caught attention because I've obtained half a dozen new cards in the last two months - 2 of them Amex cards.  Just checked and thus far all is ok.  Most of the new accts are reporting and I do put a fairly sizable spend on  the Amex  cards.  I will continue to watch all my accts closely.

 

@OP I hope you are able to resolve your issue with Amex

Message 29 of 60
EW800
Valued Contributor

Re: amex reduced line


@Credit-hoarder wrote:

@EW800: I'm eligible for one late next week also and was thinking the EXACT same thing---that $10K CL works perfect for me at the moment. And I"m going to charge my car insurance and my storage unit on it tomorrow as well just in case of the "low spend" theory!


Ya, I think we might be wise to wait, just in case there is something to this.  Perhaps it is just a coincidence, but who knows.  With my $27.5K total CL with them already, with so little spend, I don't want to rock the boat.  Hopefully Amex isn't changing their strategy, however I know it all revolves around risk.  

 

Year 2012: All Scores in the 520 range, during a foreclosure, CC Settlement and high UTIL. Very ugly days...
Sept 2024: EX8: 847; EQ8: 850; TU8: 848 -- Middle Mortgage Score: 821
In My Wallet: Discover $73.7K; Cap1 Venture $51.7K; Amex ED $38K; Amex Optima $2.5K; Amex Delta Gold $18K; Citi Costco $24.5K; Cap1 Plat $8.4K; Barclay $7K; Chase Amazon $6K; BoA Plat $21.6K; Citi TY Pref $22K; US Bank $4K; Dell $5K; Care Credit $6.5K. Total Revolving CL: $300K+
My UTIL: Less than 1% - Only allow about $20 a month to report, on one account. .
Message 30 of 60
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