It's been a while, and I really don't want to carry that much balance anymore. Even if it means losing the limit, I have been paying more then usual.
I normally keep my balance around $4000, but took it down to $3700 on my last payment. As expected, my limit was cut to $3900.
I expect this will continue, and I am no longer worried about it. As long as they don't close the card or go lower then my original limit ($1000). I am currently seeking a balance transfer to another card.
Once I pay off the card, I will be converting to a PIF strategy. Without having a larger limit available, I will no longer be tempted to over use the card.
AMEX had claimed that they will only do this every 6 months, which we all know isn't true. We will see what happens next month.
Edited by rpina1, 24 September 2008 - 10:12 AM.