Amex Credit Line Decrease after Balance Transfer Requests, Beginning of the end Options

[karmapolice76]

Applied for 3 Balance Transfers to my Amex Blue (My only Amex card with great interest rate of 9.9%) Credit line was 24,000. They now dropped my line to $900.00- about $100.00 more than the balance will soon be (Balance is zero, but I recently spent about $800.00 on Christmas gifts)

I have a Starwood with a $24,000 limit and no balance and a One with $800.00 balance,as well as Clear which I used as a balance transfer card ($24,000 limit, $8000 on it)

I guess this is the beginning of the end. They will probably do the same thing to all my Amex cards and it is going to massively mess up my scores, and then BOA and Chase will probably follow suit....

Been a customer of Amex for 2 years. Scores are around 660-670.

I called Amex and they gave me the credit line dept's number. They apologized, said my BT's were cancelled and it was due to my TU report- They throw things back at you that were already on the report when they approved my applications...

I said "Are you going to do this to all of my Amex cards? She couldnt answer...

My reports still have two charge offs from 2001, so until those are off, this credit line decrease will probably bring my scores down to the 630 range. As my utilization will go from 35% to 45-50%~ And if they play this game with Starwood and Clear- I am even worse off. My Amex lines are about 60% of my total lines.

Oh well.

[Googie]

[squirrelgirl]

Sorry to hear about the CLD.

Does NOT mean they are shutting you down though.

[InfamousNY]

Applied for 3 Balance Transfers to my Amex Blue (My only Amex card with great interest rate of 9.9%) Credit line was 24,000. They now dropped my line to $900.00- about $100.00 more than the balance will soon be (Balance is zero, but I recently spent about $800.00 on Christmas gifts)

I have a Starwood with a $24,000 limit and no balance and a One with $800.00 balance,as well as Clear which I used as a balance transfer card ($24,000 limit, $8000 on it)

I guess this is the beginning of the end. They will probably do the same thing to all my Amex cards and it is going to massively mess up my scores, and then BOA and Chase will probably follow suit....

Been a customer of Amex for 2 years. Scores are around 660-670.

I called Amex and they gave me the credit line dept's number. They apologized, said my BT's were cancelled and it was due to my TU report- They throw things back at you that were already on the report when they approved my applications...

I said "Are you going to do this to all of my Amex cards? She couldnt answer...

My reports still have two charge offs from 2001, so until those are off, this credit line decrease will probably bring my scores down to the 630 range. As my utilization will go from 35% to 45-50%~ And if they play this game with Starwood and Clear- I am even worse off. My Amex lines are about 60% of my total lines.

Oh well.

Sorry to hear that . I used to have 50k+ on two cards from AMEX than I was F/R. I would have had 200k in tradelines but I have 154k cause of AMEX. I learned to spread my business over various companies due to that setback.

[ericgunit]

Someone posted something similar the other day. AMEX to me is like that bipolar cousin you don't want to piss off so you have to be very careful on your approach! I'm afraid to do anything with them as of late. I have three cards (Clear, Blue Cash, One).

I recently got 5K CLI's on the Blue Cash and Clear but now I am hearing that if you don't use your cards enough they will CLD you because it doesn't justify a high CL.

WTF over! LOL

[Hey Jude]

WTF over! LOL

My friend, who is in the reserves, but spent time in Iraq, uses this phrase all the time. I knew you had militray affiliation before I looked at your siggy.

To OP: I am blacklisted, but I am not sure I would want an AMEX in this credit environment. I hope your other AMEX credit lines remain intact.

Jude

[ericgunit]

WTF over! LOL

My friend, who is in the reserves, but spent time in Iraq, uses this phrase all the time. I knew you had militray affiliation before I looked at your siggy.

To OP: I am blacklisted, but I am not sure I would want an AMEX in this credit environment. I hope your other AMEX credit lines remain intact.

Jude

LOL It's something you just can't get out of your head after hearing so many times for 10 years!

[Hey Jude]

LOL It's something you just can't get out of your head after hearing so many times for 10 years!

LOL ---- he has also been military for about that long. I asked him what the phrase meant, and he told me. I have never used it, however. I haven't earned the stripes, so to speak

Jude

[toopooor]

My reports still have two charge offs from 2001, so until those are off, this credit line decrease will probably bring my scores down to the 630 range. As my utilization will go from 35% to 45-50%~ And if they play this game with Starwood and Clear- I am even worse off. My Amex lines are about 60% of my total lines.

No offense, but high utility is bad, especially right now. So is putting too many eggs in one creditors basket (that's always bad). As long as you don't try BTs on the other cards, you should be ok... but you really need to try to expand your holdings and pay your balances down. ETA: But don't expand too fast, or they might shut you down.

Have you worked on disputing the CO's off? They are a red flag when you have high utility and are trying to BT to a 10% int rate. They can see you walked away before when the economy got tough.... and if 10% is worth a BT, they suspect you are at risk.

This post has been edited by toopooor: Dec 3 2007, 02:56 PM

[ericgunit]

LOL It's something you just can't get out of your head after hearing so many times for 10 years!

LOL ---- he has also been military for about that long. I asked him what the phrase meant, and he told me. I have never used it, however. I haven't earned the stripes, so to speak

Jude

HAHA! Well it can be used to respond to many different things. Have you ever seen the DUDE, Bud Light commercial? Just replace Dude with WTF, over! Same thing.

But it's main use is to respond to someone who is saying or doing something so remarkably asinine that there are no reasonable ways to respond other than WTF over!

[wanabe]

That is too bad I am really sorry that happened to you.

I just got approved for Gold Delta Skymikles don't even know my limit yet.
At first after reading all the threads I didn't want one but I want to go prime
so I can get some limits and rewards I can do something with.
I will just use mine for all the cash stuff I pay for and bills I already pay and PIF.
And use it only to build history, better scores and higher limits.

[douginsea]

once on the amex radar...always on the amex radar...

[ristay]

Sorry to hear about the CLD.

Does NOT mean they are shutting you down though.

True...not shut down.. BUT within $100.00 of cl.. might as well be shut down. As I have said many times... what AMEX gives..they take away with no warning. Never leave home with AMEX!!

This post has been edited by ristay: Dec 4 2007, 02:32 AM

[slimshady]

regarding your Clear with the BT, if they do shut it down, you do not have to pay it off right away correct? you can continue to just make minimum payments with the original apr right?

[wanabe]

My reports still have two charge offs from 2001, so until those are off, this credit line decrease will probably bring my scores down to the 630 range. As my utilization will go from 35% to 45-50%~ And if they play this game with Starwood and Clear- I am even worse off. My Amex lines are about 60% of my total lines.

No offense, but high utility is bad, especially right now. So is putting too many eggs in one creditors basket (that's always bad). As long as you don't try BTs on the other cards, you should be ok... but you really need to try to expand your holdings and pay your balances down. ETA: But don't expand too fast, or they might shut you down.

Have you worked on disputing the CO's off? They are a red flag when you have high utility and are trying to BT to a 10% int rate. They can see you walked away before when the economy got tough.... and if 10% is worth a BT, they suspect you are at risk.

Tooopoor, What do you mean by this But don't expand too fast, or they might shut you down.

And how do you high light a statement in red?

[proinc]

How long have you had accounts? My business partner just got blue business and plum bt 33k to blue not a word he has a total of 6 amex cards member since 2000 no problems at all.By the way blue is only 2 weeks old remaining avail is only 3500

[toopooor]

Tooopoor, What do you mean by this But don't expand too fast, or they might shut you down.

And how do you high light a statement in red?

i meant, you need to apply for more cards with other lenders (so no one lender has so much of your CL), but if you apply for too many in a short period of time, they may close the rest of your accts. they use an alert service with EX, so you want something that pulls EQ or TU and you only want 1 new card reporting every month or so. You can't go on a spree and add 6 new cards.

To highlight text, select it and click the A dropdown at the top of the compose window - click on the red square.

[wanabe]

Tooopoor, What do you mean by this But don't expand too fast, or they might shut you down.

And how do you high light a statement in red?

i meant, you need to apply for more cards with other lenders (so no one lender has so much of your CL), but if you apply for too many in a short period of time, they may close the rest of your accts. they use an alert service with EX, so you want something that pulls EQ or TU and you only want 1 new card reporting every month or so. You can't go on a spree and add 6 new cards.

To highlight text, select it and click the A dropdown at the top of the compose window - click on the red square.

Ok thanks duah and duah! I don't know after rereading your statement it became
very clear what you meant. Thanks for snapping me back. I don't know what happen.

The High light part if it was a snake it would have bite me.

[tanschwan]

My reports still have two charge offs from 2001, so until those are off, this credit line decrease will probably bring my scores down to the 630 range. As my utilization will go from 35% to 45-50%~ And if they play this game with Starwood and Clear- I am even worse off. My Amex lines are about 60% of my total lines.

No offense, but high utility is bad, especially right now. So is putting too many eggs in one creditors basket (that's always bad). As long as you don't try BTs on the other cards, you should be ok... but you really need to try to expand your holdings and pay your balances down. ETA: But don't expand too fast, or they might shut you down.

Have you worked on disputing the CO's off? They are a red flag when you have high utility and are trying to BT to a 10% int rate. They can see you walked away before when the economy got tough.... and if 10% is worth a BT, they suspect you are at risk.

In my case, my utility was at 33%, no BTs to or from AMEX, but they beat me down and kicked me to the curb. I think for me it was all the new credit I acquired in the last 6 months and then the two new inqs within a week sent them over the edge. Today, I found a new love baby, a new love....BofA!!

[awashi17]

Amex screwed me too. I am within $100 of my credit line also. I was Cld last month for something that re-appeared on Ex. Oh well, it's their loss as I refuse to EVER USE their card again. I will make small payments and keep CS but nothing more.

[toopooor]

In my case, my utility was at 33%, no BTs to or from AMEX, but they beat me down and kicked me to the curb. I think for me it was all the new credit I acquired in the last 6 months and then the two new inqs within a week sent them over the edge. Today, I found a new love baby, a new love....BofA!!

yeah, that will do it. I thought about nordies or bloomies for Christmas shopping and thought better of it. I really don't need them and i have good rewards cards...

BoA is good to me... hopefully they will be to you too. They don't fear cash adv either. I transfered funds online to my boa bank acct and they gave me an auto CLI 2 months later. Juny woulda cld it immediately.

[tanschwan]

In my case, my utility was at 33%, no BTs to or from AMEX, but they beat me down and kicked me to the curb. I think for me it was all the new credit I acquired in the last 6 months and then the two new inqs within a week sent them over the edge. Today, I found a new love baby, a new love....BofA!!

yeah, that will do it. I thought about nordies or bloomies for Christmas shopping and thought better of it. I really don't need them and i have good rewards cards...

BoA is good to me... hopefully they will be to you too. They don't fear cash adv either. I transfered funds online to my boa bank acct and they gave me an auto CLI 2 months later. Juny woulda cld it immediately.

Good to know about BofA. I thought about applying for Nordies and Bloomies, but didn't want to add on more store cards. Besides, I like shopping at Marshall's, TJ Maxx, and Target. I'm cheap.