American Express reduced my credit line by 95%

[her209]

Originally posted by: ranmaniac
Citi raised my rate 9.99% to 14.99%, and the next month they doubled my limit. No wonder their stock is trading near the dollar menu of McDonald's.

That's funny when you really think about it.

 

[alkemyst]

Originally posted by: fuzzybabybunny
"That's nuts" is bad while "that's tits" is good. Frickin' double standard.

It's the 2000's, if you like nuts we are OK with that.

 

[Reckoner]

Amex sucks gonads. Why deal with a company where you have to worry about your next purchase being declined, even with no late payments or adverse credit history? Fuck them.

 

[SampSon]

Originally posted by: Cattlegod
I got a notification from chase today that they canceled one of my cards. I haven't used it in about 9 years.

Chase sent me a letter a few months ago stating that they were closing my account.
Their letter said something to the effect of "You haven't used your account for 24 months, we feel that our services may not meet your needs at the current time."

Really? You mean your double digit APR isn't appealing?

Best thing is that I had a 30K car loan with Chase that I paid off last year, I figure they would entice me to do business with them. I guess I was wrong.

So I'll take the hit on my credit report to rid myself of this useless douche bag creditor.

 

[alkemyst]

Originally posted by: Reckoner
Amex sucks gonads. Why deal with a company where you have to worry about your next purchase being declined, even with no late payments or adverse credit history? Fuck them.

It's not just AMEX...however; almost anyone affected, no matter how good a customer that's affected by this is a high risk client.

They are looking to cut back. Most uber wealthy people have few cards, but each has limits that surpass even most peoples aggregate limits. They use their cards regularly (but not commonly). Purchases then payoffs, occasionally major ticket items and then payoffs.

The people that are running balances and that can only pay them should they remain employed are the customers creditors are trying to lose now. With unemployment passing 10% in areas and underemployment probably 5 times that in many places....credit is a risky business.

 

[oiprocs]

Mine is still the same. I only buy gas with it, but I commute 2 hours daily, so I fill up twice a week

I hope that's enough to keep it alive.