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clyde_frog
- Senior Member
posted: Oct. 16, 2008 @ 6:38a 
AMEX reduced the limits on all my cards to just above the current balance or to $500 if there was no balance. they literally capped my daily spender SPG card at $2k when it had a balance of $1900, midcycle, giving no warning at all. obviously that is quite problematic when i have autopayments tied to that card, etc. i've basically lost any respect for AMEX that i had. when i called they tried to blame the reductions on "my credit profile." anyway i got the limit on the SPG card reinstated but lost substantial credit otherwise. canceled my platinum and gold cards on the spot. guess they didn't want my $800 in annual fees anymore. |
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maddybeagle
- Greedy Member
posted: Oct. 16, 2008 @ 12:47p
Seems like they are being stingy on new approvals, too...I applied for a gold card yesterday and got denied....that used to be a really easy card to get approved and would do one after an AOR. |
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ibmman69
- Senior Member
posted: Oct. 16, 2008 @ 12:58p
I'd like to know how they determine which customers to cut. I average about to AMEX pre-approvals a month. All my lines are still the same. |
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luvdeals
- Senior Member
posted: Oct. 16, 2008 @ 2:01p
They gave me a litany of reasons why they cut my line. Balances too high on other cards. Payments not high enough (I pay minimum plus $1-5). Mortgage too high for my income (must have pulled a while ago as I haven't had a mortgage for 2 months). No lates or other big negatives. My guess is it was mostly the high amount I had on other cards. I had around 700 Fico and did have a good amount taken out in 0% money. |
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anxman69
- Senior Member - 1K
posted: Oct. 16, 2008 @ 3:11p
I use my AMEX's pretty much exclusively for all of my personal and business spending and a cut to my CL could hurt my day-to-day operations. I have not yet seen anything on my three cards: Personal SPG: $25k ($300-$1000 monthly spend)
Business SPG: $40k ($10k - $25k monthly spend)
Costco TrueEarnings: $20k ($0 monthly spend) |
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yeastbeast
- Thrifty Member
posted: Oct. 20, 2008 @ 9:37p
All four of my AMEX cards got chopped in half (from $59K to 29.5K for one, the rest are peanuts anyway). This is an nuisance, as the high limit card was carrying an AOR-related balance at 0% and now is nearly maxed out. I wonder if there's anything to be done to restore these high limits, as I'm sure my FICO will take a hit.  |
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anxman69
- Senior Member - 1K
posted: Oct. 20, 2008 @ 10:38p
yeastbeast said:All four of my AMEX cards got chopped in half (from $59K to 29.5K for one, the rest are peanuts anyway). This is an nuisance, as the high limit card was carrying an AOR-related balance at 0% and now is nearly maxed out. I wonder if there's anything to be done to restore these high limits, as I'm sure my FICO will take a hit. Did they send you a letter or anything or did it just show up one day when you logged into AMEX.com? |
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netplayn
- Member
posted: Oct. 21, 2008 @ 10:16a
Got slashed from $17.5K to $5K on Gold Delta Skymiles AMEX.
This is a card we pay off in full every month.
Other card - Clear AMEX - didn't get slashed. |
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djspray
- Addicted Member
posted: Oct. 21, 2008 @ 4:33p
IN:Chicago slashed from $42,900 to $500.
Blue Cash (personal) from $1,000 to $500. Got the emails today, they said they are sending letter. I haven't used the cards in months. So nut much success in calling them and reversing decisions? I really was just using them for high personal CL's, but this is kind of a buzz kill. |
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RossMAN
- Ancient Member
posted: Oct. 21, 2008 @ 11:36p
My CostCo AMEX limit is the same, no change. |
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NDogg
- Senior Member - 1K
posted: Oct. 22, 2008 @ 12:08a
My SimplyCash Business card was increased to $54.1K while having a BT on it of 32K; other 3 cards have remained the same. |
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djspray
- Addicted Member
posted: Oct. 22, 2008 @ 7:16a
NDogg said:My SimplyCash Business card was increased to $54.1K while having a BT on it of 32K; other 3 cards have remained the same.
No fair! They gave you my CL! |
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NDogg
- Senior Member - 1K
posted: Oct. 22, 2008 @ 5:24p
djspray said:NDogg said:My SimplyCash Business card was increased to $54.1K while having a BT on it of 32K; other 3 cards have remained the same.
No fair! They gave you my CL! my bad, i didnt request it if that makes you feel better lol  |
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yeastbeast
- Thrifty Member
posted: Oct. 22, 2008 @ 7:02p
anxman69 said:yeastbeast said:All four of my AMEX cards got chopped in half (from $59K to 29.5K for one, the rest are peanuts anyway). This is an nuisance, as the high limit card was carrying an AOR-related balance at 0% and now is nearly maxed out. I wonder if there's anything to be done to restore these high limits, as I'm sure my FICO will take a hit.
Did they send you a letter or anything or did it just show up one day when you logged into AMEX.com?
I got email notification that that my CL had been "adjusted" and that hard copy letters would follow shortly.
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rigor
- Senior Member - 8K
posted: Oct. 22, 2008 @ 7:21p
nothing here yet. you'd think they'd be pissed for starting the AMEX CLI crack thread |
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yeastbeast
- Thrifty Member
posted: Oct. 22, 2008 @ 7:44p
More annoyance. When I called to consolidate two dormant accounts that got slashed to $500 CL, the CSR told me that AMEX no longer allows consolidation of CLs. |
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UrsaMajor
- Tired Member
posted: Oct. 23, 2008 @ 1:29a
AMEX is in trouble. My sis has Experian 780 credit score and they cut the revolving credit last month. Had her put her 15k points into gift cards, transfer a small balance over to 0% and had her cut up the card. |
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chimera194
- Thrifty Member
posted: Oct. 23, 2008 @ 2:17a
I got mine slashed from $20K to $1,300. Did not receive any notification whatsoever, and was about $100 away from maxing the card. Will call them tomorrow to ask them to increase... I've spent about $2,500 each month average over the past 5 years so they'd better or else I am canceling the card! @#(@$(%*@(*$(@*#$(!!!! |
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skipfourplei
- Member
posted: Oct. 23, 2008 @ 7:18a
This hit me too. Hilton HHonors from ~$19k to $3.5k ($50-60k/year spend, paid in full each month), Blue Cash untouched at around $18k (around 1/2 in a BT, otherwise unused). |
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WalStMonky
- Happy Member
posted: Oct. 23, 2008 @ 10:08a
AMEX is very smart. If they eliminate all their cardholders, they won't have any defaults! I wish I knew why we haven't suffered any AA. I hate waiting for the shoe to drop. Ah well, I suppose it's inevitable. Though I wonder if I'll ever know, since we quit using AMEX just over a year ago because I consider them an unreliable vendor. I do have one small recurring charge going to one card to keep it active, so perhaps I will notice. |
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