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Woah.. Amex.. Check your credit lines!

B

brxndxn

Diamond Member
I have an Amex Blue cash card that I pay off in full every month. I spend $1500-2000/month on that card. I just logged in tonight to check my balance and I found out my credit line was reduced from $6000 to $1315 and I have $1297 charged to the card so far (3 days left in billing). Scary..

They reduced my line to a lower point than I spend on average and pay off in full every month!

I'm thinking it may have something to do with this article:

http://www.cnbc.com/id/27312082/for/cnbc/

But seriously.. this is nuts.. One more day and I'd go over the credit line.. That could've been embarassing!

Check your Amex credit line!
 
I had that happen to me a few months ago when I requested a balance transfer to my blue cash card.
My credit line was 6700 and my balance was around $3800
I attempted to trasnfer in about $1000. They declined it and subsequently limited my credit line to $4000. However for mine, they actually had an excuse. They ran a credit check after the balance transfer request and found that I had a high balance on multiple cards so they lowered my credit limit.
 
That would suck, but I'm cool, because I really pushed them to increase my credit limit to $30K when the wife was charging $15K/mo. sometimes for business. Now, we seldom go over $8K/mo.

EDIT: I just checked, it's still the same, so far.

 
Weird, they just raised mine from 12k to 15k. :shocked:

Right now I owe about 25% of my limit on one card, and zero on the rest.
 
I should have asked for an increase on my citibank card when I could have. They took down the option on to request it on their website.
 
If you shop at places like Walmart or Marshalls, they might reduce your credit line. AMEX is in world of hurt. Delinquency is skyrocketing, spending is down, and they're having hard time getting funding. The rumor is they need about $25 billion in funding the next 12 months.
 
Mine is still at 13k. I don't remember what I opened it at, maybe 5k? It was raised within the last year. I still have 0% on it too 🙂
 
Originally posted by: Bignate603
I should have asked for an increase on my citibank card when I could have. They took down the option on to request it on their website.
Click to expand...

You can still request one, but they will do a hard pull. When they had the option on the menu, you could get a credit line increase without a hard pull.
 
Originally posted by: Special K
Originally posted by: Bignate603
I should have asked for an increase on my citibank card when I could have. They took down the option on to request it on their website.
Click to expand...

You can still request one, but they will do a hard pull. When they had the option on the menu, you could get a credit line increase without a hard pull.
Click to expand...

So I basically have to call them up and ask for it now?
 
They lowered mine a 100 dollars, lol. At first glance I didn't see a change when I got the letter. I had to look again.
 
Damn this pisses me off. I was going to open an Amex account later this week, to do a balance transfer on my last remaining card (to take advantage of 0%)

I really hope other companies don't follow. My credit rating is higher than ever and I would hate to see it crushed for no reason.

Right now I only have 2 credit cards, and owe 3k vs 35k in available credit. I've also got a car loan that will be finished by next year, which I could pay off tomorrow if I really wanted. I am working extremely hard to max my credit score. Now I am scared as hell that the CC's I paid off will drop, because of the very low balances I carry.

Fuck I hate this bullshit ass economy. The poor and the stupid have ruined it for everyone. They should fucking throw all those dumbasses in one state and burn it.
 
They have lowered mine twice so far this year. Always to within $200 of my current balance too. I called and bitched the first time and sent them a letter because they gave no notice beforehand. I use the card for business and thats not the kind of surprise I appreciate. If I wasn't locked into a good rate on that card I'd give them the finger and close the account.
 
Originally posted by: Bignate603
I should have asked for an increase on my citibank card when I could have. They took down the option on to request it on their website.
Click to expand...

My Citi card still lets me ask for an increase through the website.
 
blue 0/25,
sky 1.5/25,
trueearnings business 5/25 (non revolving), and got a targeted offer on gold today. no change yet
 
My Blue Cash was cut from a 2k credit limit to 500. I'm pretty pissed. I don't use that card in any "trashy" or low class stores... I use it for buying computers from Dell... and home depot sometimes but that's it. I'm going to call them tomorrow and see if they will reverse it. I don't have much faith in that though.
 
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