American Express Membership Rewards - Anyone have their credit limit decreased by AMEX at the end of 2007?

My wife had a problem with AMEX in November where they reduced her limit quite a bit. I was a big screw up and took some doing to get straightened out. (Long Story) AMEX said a lot of people had the same problem mostly in the southeast.

Just curious.

Mike

I had a letter from them telling me that my limit had been reduced but this was in no way a bad reflection on me or our relationship!

maybe something to do with the economy being in the crapper?? i dunno

did they raise it back to what it was?

Looks like some of mine went from $24,900 (thanks Fatwallet) to $23,000. Not sure why and don't care, I rarely use the cards anyway.

Got a letter today telling me they had increased it by 12k which was a bit of a suprise.

How do you determine your credit limit? I browsed randomly through the (UK)website but I can't seem to see such a number.

Thanks

Dr. PITUK

How do you determine your credit limit? I browsed randomly through the (UK)website but I can't seem to see such a number.
Pretty sure these people are talking about credit, rather than charge, cards - I have both on my account and I see the credit limit for the credit card right there on the account information page (it's less than the current balance on my charge card - d'oh!).

Thanks Nick. I do have a charge card (though so far none of the benefits!!).

Dr. PITUK

My credit limit is the same, but I have noticed that Amex inquiries are appearing on my credit report biweekly now. They are listed in the "only viewed by me" section, but still seems interesting.

Her October Statement was $2789.00. I just received the email statment for the month so it was not due for sometime and decided to settle and pay it in a few days. I was headed out of town and the card was declined for Lunch. We use this card for personal spending. She has had the card an I have a additional card since 2001. I have had AMEX since 1991. This is the only card we have where she is the primary so they would tell me nothing on the phone, but I did notice a ...... attitude.

I call her and she had received a letter from Amex stating her credit line was reduced from 15k to 2.8k. Because of delinquent accounts, judgements, collections, etc. reported by Experian. With just the general 800 number to call. Keep in mind she averages 2.5k per month and it is paid in full usually the day the statment is email by electornic debit.

She calls AMEX they told her she has bad credit reported from experian and her credit has been reduced and that is it. She also noted the attitude, like she was a dead beet. She kept calling back because she knew they where wrong and there must be some error. She ended up talking to several customer service reps and got the same runaround and poor treatment.

I pulled her Experian when I got back home. Funny thing was there was really no credit on the report except one car lease, do not know why yet. Nothing negative but only one item. I also order her Vantage Score from Experian because one of the customer service told her her vantage score was also low. It was 747 which is very good. Again remember nothing negative at all like the letter stated.

So I order all three credit reports and scores to see what is going on. The other two where fine with plenty of credit. Her Equifax FICO score was 790. Again nothing negative at all.

So back to the phones, same crap treatment. One customer service rep tells her she needs to call the credit department that is open 8-5 M-F. So monday she give them a call, wrong number by the way. Once she gets the credit department on the phone they tell her that they are the wrong ones and she needs to speak to the credit line reduction department. By that time it was after 5pm.

The next day she is on the phone to the credit line reduction department. After alot of the same BS and crappy treatment they tell her to fax all the credit bureaus the serperate experian and the scores for a clerical review. They would get back to her within 5 days. 10 days including the weekend nothing. She calls back gets transfered around to a couple supervisors and they finally determine that there is a note on the file that they did not receive the Experian Rerport and score. Keep in mind we fax 26 pages inlcuding the Experian twice once with the 3 in 1 report and once on its own. So the superisor in the credit line reduction department asks her to fax just the experian and the vantage score to her and she will get back to her.

So again 4 working days an nothing. So back on the phone again to the Credit Line Reduction Department Supervisor. Of course a different supervisor. Again keep in mind she has to explain the whole thing over and over again. Supervisor says she is not sure what is going on but my wife does have negative credit from Experian. She asked everyone she spoke to what was these negative items and no one could tell us. So while on the phone with the supervisor we fax the Experian Report and ask her to show us what is negative.

The Supervisor finally admitted that she only had a soft summary of my wifes credit and all she knew was Experian reported soemthing bad. She also admitted that she was not the best at reading a credit bureau. Yes a supervisor and the AMEX Creidt Line Reduction Department only has a soft summary on customers credit and that she can not read a credit bureau!!

My wife would not let her off the phone. She finally told my wife that the internet credit bureau is not the same as the one you get in the mail and she would have to get the one in the mail and call back.

So we order one by mail. I might add that Experians Website says the same report is available on line.

While waitting for the mailed copy my wife receives a letter for Clarical Review saying the credit reduction will stand. One parpagraph long no phone call.

Several calls later after getting the hard copy of the Experian Report she hears every excuse they can think of, maybe too little credit, maybe the credit crunch on the news. These are supervisors at the Credit Department. After 15 different people for Customer Service Reps to Supervisors and being treated like a deadbeet, being told they did not care of we cancelled all are cards and repeating the story again and again and delaing with so called supervisors that are so incompetent your are amazed these people function in life she gave up.

Amazing thing was we where actually wishing to talk to someone in India, at least they fake like the give a .....


Well my wife dept a log of names date and times. We wrote a detailed letter to the president of AMEX. I sent him overnight 38 pages. A week later my wife gets a call from the Presidents Personal Assistant saying how sorry they are and explained that Experian did report bad data, but the worst part was how she was treated by AMEX employess and how they dropped the ball at the clerical review. She said they have found out that nearlly 1 million customers where effected mostly in the Southeast US.

She also said no one bother to overnight 38 pages to the Presindent and they got a laugh out of the "wished we could talk to someone in India after this ordea" and they gave he 25k in Delta miles and flagged her account to where no one could touch it.


Believe it or not that is the short version. I was just curious if others had similar problems or where the just BS'ing her a little.

WOW. Amex locked up some of my credit cards [not charge cards] in November but I corrected the problem with a few phone calls. No one was nasty to me during the calls. I'm in the Midwest.

I don't think they show your credit line for charge cards online, the credit line I was refering to was the Credit card.

Amex holds a single line of credit for their entire range of cards, so you can adjust the limits on various cards within their portfolio but it needs to be within the overall limit.

After reading this thread, I glanced at my accounts and noticed that one biz credit acct that I rarely use had been reduced from 14.5k to 2k! Given that I have never been a day late _ever_ with Amex and put around 25k/mo on a Biz Plat charge card, I just simply found it insulting. They said it was because of an Experian report which showed too many inquiries and open accounts. I just told them I was going to close that particular account and ended the conversation. It really wasn't worth my energy to pursue it further, but it definitely left a bad taste in my mouth.

Is there anyway to determine the "charge limit" on a platinum card?

Is there anyway to determine the "charge limit" on a platinum card?

To find the limit on your charge card, either persuade a CSR to tell it to you, or call the CSR and tell them you are thinking about making a purchase for $X, and want to know if it will be accepted. If they say yes, you know your charge limit is greater than the sum of your outstanding balance + $X. Repeat this process increasing $X, to find your limit.

And BTW, AMEX has raised my limit over the past 30 days. I am VERY PLEASED with the credit they extend me. I love AMEX!

I hear the FICO2008 scoring system will be implemented soon by credit card companies, and that should also many people.

A couple suggestions if you want a higher limit:

1) Apply for additional AMEX cards [they don't want to decline you, so they give you add'l limit for the new cards; you can then reallocate your limit across the cards using the online tools.

2) Wait until the spring and hope that you will have a better score when FICO2008 scoring kicks in.

Our Amex Plat account has been fine for everything we needed.

Our Blue card was reduced from $11000 to $10400 in December.

What about the 2008 fico scoring system? First i've heard about it. Does anyone know anything about it?

What about the 2008 fico scoring system? First i've heard about it. Does anyone know anything about it?

Google is a man's best friend. I'd never heard about it either but learned plenty in a few minutes.

http://articles.moneycentral.msn.com/Banking/YourCreditRating/BuildAKillerCreditScoreIn2008.aspx

Mine are all still the same.

Bus. Platinum = 40k per month
Personal Blue = 46k limit
Personal SPG = 31k limit

I have not had any problem with Amex, but I do have a credit card with Bank Of America- they sent me the letter referencing Experian. I had a card that had not been used in well over a year- with no balance and took the credit line from 15K to 1K. I called and canceled it.

I don't know why because I looked at Experian report and found nothing negative. I'm thinking this sub prime loan stuff has creditors a bit nervous.

I don't think that this is new. They cut my limit from something in the high 20s to the high teens a couple of years ago after a "credit review" when I paid off a big low rate balance I hah had on the card.

What about the 2008 fico scoring system? First i've heard about it. Does anyone know anything about it?

I am not an expert on Fico2008 and honestly don't know what impact (if any) that FICO scores have on your AMEX credit.

I read a couple articles on the Net, that said FICO2008 will be more forgiving if you are 1-30 days late on payments a couple times per year; whereas, they will penalize more for charge-offs, very late payments, etc.

The above advice, is second hand, so I agree you should Google it for yourself.

I appreciate the detailed OP and am glad the matter was eventually resolved in his favor, especially since the "dead beet" line made me giggle all morning.

(OPer: "deadbeat" is someone who doesn't pay his debts. A "dead beet" is a deceased edible root. :) )

I appreciate the detailed OP and am glad the matter was eventually resolved in his favor, especially since the "dead beet" line made me giggle all morning.

(OPer: "deadbeat" is someone who doesn't pay his debts. A "dead beet" is a deceased edible root. :) )


Sorry I was too lazy to check spelling.

Sorry I was too lazy to check spelling.

You were being a couch potato? :)

Sorry. I'm easily entertained.

My wife had a problem with AMEX in November where they reduced her limit quite a bit. I was a big screw up and took some doing to get straightened out. (Long Story) AMEX said a lot of people had the same problem mostly in the southeast.

Just curious.

Mike


Conference call addressed this issue.

http://ir.americanexpress.com/phoenix.zhtml?p=irol-eventDetails&c=64467&eventID=1739806

Is there anyway to determine the "charge limit" on a platinum card?

Well, for the first time my Amex Plat is showing a limit :confused:

no change, still @ no limit, 100k, and 25k ... lucky me.

I don't think they show your credit line for charge cards online, the credit line I was refering to was the Credit card.

Amex holds a single line of credit for their entire range of cards, so you can adjust the limits on various cards within their portfolio but it needs to be within the overall limit.


Slightly OT, apologies, but this pertains: I just got approved for a HHonors AMEX. It approved with a 2k limit. I have a Blue card with a 6k limit. Once the HHonors card arrives, I can then move all 8k to the HH card if I am reading this correctly?

...move all 8k to the HH card ...


I believe the online tool will require you to leave at least $1,000 on each account, which means you could put $7,000 on the HHonors card.

I believe the online tool will require you to leave at least $1,000 on each account, which means you could put $7,000 on the HHonors card.

Could I put in $0 to the Blue card and trigger its cancellation? I really don't want two AX credit cards.

Could I put in $0 to the Blue card and trigger its cancellation? I really don't want two AX credit cards.

It doesn't allow you to put in 0 dollars. Leave 1,000 and call in to cancel.

When I call to cancel, can the other 1K go to the new card?

When I call to cancel, can the other 1K go to the new card?

I guess you could ask and move all to the new card. In my case, I didn't care and lost it.

Is there anyway to determine the "charge limit" on a platinum card?

Spend as much as you can and wait for your card to be denied.. lol

I guess you could ask and move all to the new card. In my case, I didn't care and lost it.

How do I find the screen that lets me move the limits? (Sorry for the noob questions, for 5 years I've only had 1 credit and 1 charge.)

You may not be able to see this option until you have more than one credit card registered online. It appears the menu structure has been redesigned, and American Express does not always apply changes to every account simultaneously.

Go to http://americanexpress.com
LOGIN
Click See all account services (righthand side)
Click on any credit card account
Click Credit & Balance Transfers
Click Reallocate Line of Credit

Well, for the first time my Amex Plat is showing a limit :confused:

I'm curious whether your platinum is through Fidelity.

I notice that my Fidelity card is, for the first time, showing a credit limit. It appears to equal the equity in my fidelity brokerage account.

My "regular" platinum amex card continues to show "no preset limit".

I'm curious whether your platinum is through Fidelity.

I notice that my Fidelity card is, for the first time, showing a credit limit. It appears to equal the equity in my fidelity brokerage account.

My "regular" platinum amex card continues to show "no preset limit".

While shopping for Christmas presents, I had a fairly large charge that required the merchant to seek special approval from Amex (that's never happened prior). After all was said and done, I phoned Amex for an explanation. I was told there is a limit on my Plat card, which is based on the equity in the linked brokerage account (despite the Amex web site showing "No Pre-Set Limit" for this card).

I'm curious whether your platinum is through Fidelity.

I notice that my Fidelity card is, for the first time, showing a credit limit. It appears to equal the equity in my fidelity brokerage account.

My "regular" platinum amex card continues to show "no preset limit".

Yes - its with Fidelity. However, limit much lower than my brokerage account. I don't use the card much as I got it for its benefits rather than every day use.

Yes - its with Fidelity. However, limit much lower than my brokerage account. I don't use the card much as I got it for its benefits rather than every day use.

Interesting.

I wonder why your limit is lower than your brokerage equity.

I'm also wondering if Amex is going to be reporting this as the credit limit to the credit reporting agencies. If so, my Fidelity Amex will be my highest limit card by a big margin.

Interesting.

I wonder why your limit is lower than your brokerage equity.




Dunno, maybe becasue I have had the card for less than a year. Not too worried about the limit though...its still sufficient for my needs.

An AmEx CSR once told me that the charge card's de facto limit was an average of your past 6 statements. Anyone ever found that to be accurate? Thanks to those who helped with reallocation - my $2k limit HHonors Plat is now at 7,100.

An AmEx CSR once told me that the charge card's de facto limit was an average of your past 6 statements. Anyone ever found that to be accurate? Which charge card? I know it's not true for my green/gold/plat cards.

Which charge card? I know it's not true for my green/gold/plat cards.

I was told that for my Gold card. I was well over the 6-statement average at that time, however: tried to charge $35k in airline tickets for my mother's business, statement avg. was around 3k.

I was told that for my Gold card. I was well over the 6-statement average at that time, however: tried to charge $35k in airline tickets for my mother's business, statement avg. was around 3k.So you were trying to charge > 12X your average - I can see why they'd balk. I remember when I was trying to grow my spending llimit on my green card, they seemed to be letting me go up to 50% higher than my previous high balance. But I did hit a limit.

Sure, not saying that they wouldn't balk. But a 6-statement average and 50% of highest recent balance don't really jive. If run with sample numbers, they wouldn't come out the same. But in any case, who knows? All based on the individual, I'm sure.

I had a green card that i did not use for at least 6 months never charged alot and then one day charged $68,000 usd in Switzerland. They let it go through but did call me to confirm,
Mike

I just got notified by Amex that my personal SPG card line has been dropped from the 40s to the 30s, because of "excessive credit file inquiries" and "a severe deliquency (I could tell I was being chastised at that point, haha!

Well, that's all b...s.... but frankly not worth all the effort to try and convince them of my true credit history.

Not the biggest deal in the world, but I still cancelled the account, and am happy to move my business over to my M/C and Visa accounts again.

Meanwhile I'll still keep the Bus Plat Amex for now, at least it gets me into AA Admirals clubs this year!

My limit increased from $25k to $36k, and I didn't request it. I did notice that they did a soft-pull, and my credit score is close to 800 and has no inquiries.