American Express Membership Rewards - Anyone had their AMEX line of credit reduced?

Just wondering if anyone has had their AMEX Line of Credit reduced?

I got letters yesterday for my businss and personal amex. They were reduced wayyyy down. Doesnt matter cause I dont use them anymore. But I do use my AMEX LoC

Look at any of the other current threads? One currently being discussed in detail about credit limit changes:

http://www.flyertalk.com/forum/american-express-membership-rewards/901402-credit-line-reduced-member-since-1986-a.html

Merge?

nope mine are all still good

News reports indicate that about HALF of all Amex card holders have either had their credit limits sharply reduced, had their interest rates on revolving lines increased, or now find themselves "chasing their balances" i.e. have their credit limit reduced after each month's payment.

Not that the cardholders are any less credit worthy now than they were six months ago.

Its just Amex seems hell bent on alienating their customer base (and thus committing corporate suicide).:td:

I had the same thing happen in Canada a few years ago with the Platinum charge card. I was putting 50K on it every month. Then all of a sudden, the card was being declined. They stated there was too much outstanding at one time. Seems like they couldn't handle any card with close to 100K outstanding (previous month charges plus current month). So much for no preset spending limit. I asked what I was cleared for. They stated 80K. So the next month, same problem, only that they declined below 80k. This repeated for a couple more months until I could only use the card for a couple weeks and had to stop using it as it kept declining. Letters to the VP got a phone call but no help. I finally cancelled and switched to RBC Avion. Best move I made. Never a hassle. As many points as I need and very easy redemption on flights.

You all don't read very carfully/ I didnt explain well enough I guess.

I am referring to AMEX LINE OF CREDIT. NOT Credit cards or charge cards.

You all don't read very carfully/ I didnt explain well enough I guess.

I am referring to AMEX LINE OF CREDIT. NOT Credit cards or charge cards.

I have, went from $25k down to $2,900 :( and this is after paying $99 annual fee. :mad:

News reports indicate that about HALF of all Amex card holders have either had their credit limits sharply reduced, had their interest rates on revolving lines increased, or now find themselves "chasing their balances" i.e. have their credit limit reduced after each month's payment.

Not that the cardholders are any less credit worthy now than they were six months ago.

Its just Amex seems hell bent on alienating their customer base (and thus committing corporate suicide).:td:


Title on your post says it all. They have ticked off lots of good customers.