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AMEX Blue is weird..

B

brxndxn

Diamond Member
My credit line went from $3700 limit to $500 to $1100 to $11,100 in the past 9 months. Isn't that pretty damn weird?

The one thing that I can think of that affected my credit was I got in a big spat with my old bank, Compass Bank, where they tried to charge me just about double what I thought I should owe. So, I fought them for the past year on it and finally forced them into settling for 1/4 of the amount they tried to charge me, which was half the amount I was actually willing to pay.

My credit must look really screwed up.. :Q

 
Originally posted by: brxndxn
My credit line went from $3700 limit to $500 to $1100 to $11,100 in the past 9 months. Isn't that pretty damn weird?

The one thing that I can think of that affected my credit was I got in a big spat with my old bank, Compass Bank, where they tried to charge me just about double what I thought I should owe. So, I fought them for the past year on it and finally forced them into settling for 1/4 of the amount they tried to charge me, which was half the amount I was actually willing to pay.

My credit must look really screwed up.. :Q
Click to expand...

AMEX Blue dropped mine from $10,000 to $500 because of some student loan trouble I had. I was never late with a payment to them, but they take any excuse to kill your credit line and interest rate. I have since rehabilitated my credit, and they've gradually been raising it. I think it's back to about $4,000-5,000 right now, but I've really stopped using the card after that garbage. I won't cancel it, however, since I have a fairly longstanding relationship with them, and a cancellation would wind up hurting my credit.

My advice is to obtain a copy of your credit report from the three bureaus and see what's going on. It takes a while to increase your score after something like that happens, and if you can dispute the bad remarks, you can avoid problems later on down the line. You are entitled to free reports, but they don't make it particularly easy sometimes. I went ahead and paid TransUnion for a comprehensive report, and it was only about $25 or so. All three have a web presence: Experian, Trans Union, and Equifax.
 
So what happens if you have a credit balance of 1000 and your limit is dropped to 500? Do they charge over the limit fees? I was thinking of applying for this card.
 
Originally posted by: azilaga
So what happens if you have a credit balance of 1000 and your limit is dropped to 500? Do they charge over the limit fees? I was thinking of applying for this card.
Click to expand...

They won't drop your limit to less than you owe, if you have a balance they'll typically drop the limit to like the next $100 above what you already owe.

I've only had one company ever do it (US Bank), & that was after I screwed up & missed the payment date by 15 days. Whoops. 😱 I would have sworn I had paid it, & had plenty of funds to cover it, it was quite the shock when I got the late notice in the mail. Luckily the card was nearly maxed out so they were only able to drop my credit limit by 20% or so. 😀

$0 balance now & they haven't touched the limit again.

Viper GTS
 
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