Did anyone have their AMEX limit lowered the other day?

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2Scoops
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Joined: Sun Jul 26, 2020 7:01 pm

Did anyone have their AMEX limit lowered the other day?

Post by 2Scoops »

My AMEX platinum card had the spending limit drastically reduced on Monday without much explanation. I received a message in my account portal that listed some generic things off that didn’t really apply to my situation.

I called AMEX 3 times and sat on hold for 3 hours in total and never got through. I finally reached them on social media and they said there was some type of glitch and a subset of accounts had their spending limit incorrectly lowered.

Was just curious if other had the same issue and if they’ve been able to reach anyone about ETA for resolution.
Chicago60
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Re: Did anyone have their AMEX limit lowered the other day?

Post by Chicago60 »

I have not.
I have found the chat function at AmeX's website after you sign it is quite helpful and productive. And usually faster response times than calling.
Topic Author
2Scoops
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Re: Did anyone have their AMEX limit lowered the other day?

Post by 2Scoops »

Chicago60 wrote: Wed Jan 19, 2022 10:09 am I have not.
I have found the chat function at AmeX's website after you sign it is quite helpful and productive. And usually faster response times than calling.
Yep, I just a did that and they confirmed that my limit was incorrectly lowered. For anyone else with this issue they do not yet have an ETA but they are “working on it as quickly as they can”.
f35phixer
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Re: Did anyone have their AMEX limit lowered the other day?

Post by f35phixer »

mine was just raised ~3k
kelvan80
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Re: Did anyone have their AMEX limit lowered the other day?

Post by kelvan80 »

I didn't know the Amex platinum had a limit.
pizzy
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Re: Did anyone have their AMEX limit lowered the other day?

Post by pizzy »

kelvan80 wrote: Wed Jan 19, 2022 11:38 am I didn't know the Amex platinum had a limit.
There is No Preset Spending Limit (NPSL) which doesn't equate to unlimited spend.
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kelvan80
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Re: Did anyone have their AMEX limit lowered the other day?

Post by kelvan80 »

How would I see what our limit is? I can't find it on our statement and it simply says no Preset limit.
pizzy
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Re: Did anyone have their AMEX limit lowered the other day?

Post by pizzy »

kelvan80 wrote: Wed Jan 19, 2022 11:44 am How would I see what our limit is? I can't find it on our statement and it simply says no Preset limit.
Well, there isn't a limit, BUT you can use the "Check Spending Power" button on your homepage if you are curious on if a large purchase would be approved or not.

NPSL = "This means your spending limit is flexible. Unlike a traditional card with a set limit, the amount you can spend adapts based on factors such as your purchase, payment, and credit history."
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kelvan80
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Re: Did anyone have their AMEX limit lowered the other day?

Post by kelvan80 »

Oh I thought maybe other people were able to see what their limit was. I entered $4k and it said we were okay just as a one off but I'm not going to sit there and plug numbers when we don't use that card that much anyhow, just for the perks.
pizzy
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Re: Did anyone have their AMEX limit lowered the other day?

Post by pizzy »

kelvan80 wrote: Wed Jan 19, 2022 11:50 am Oh I thought maybe other people were able to see what their limit was. I entered $4k and it said we were okay just as a one off but I'm not going to sit there and plug numbers when we don't use that card that much anyhow, just for the perks.
If someone knows what their charge card limit is with Amex, it's not a good thing. It means Amex imposed a spending limit. No beuno.
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Trism
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Re: Did anyone have their AMEX limit lowered the other day?

Post by Trism »

There may be other situations, but my understanding is that Amex puts hard, disclosed limits on its charge cards (Green, Gold, Platinum) for a small percentage of people that they're willing to have as customers but are deemed to be a higher-than-average repayment risk.

For example, if Amex suffered a loss from a consumer in the past, they may issue a new charge card with a hard limit to him or her instead of just declining to grant a new card under standard terms.
anoop
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Re: Did anyone have their AMEX limit lowered the other day?

Post by anoop »

2Scoops wrote: Wed Jan 19, 2022 10:00 am My AMEX platinum card had the spending limit drastically reduced on Monday without much explanation. I received a message in my account portal that listed some generic things off that didn’t really apply to my situation.

I called AMEX 3 times and sat on hold for 3 hours in total and never got through. I finally reached them on social media and they said there was some type of glitch and a subset of accounts had their spending limit incorrectly lowered.

Was just curious if other had the same issue and if they’ve been able to reach anyone about ETA for resolution.
Wow, couldn’t get to customer service with an Amex platinum card? Very surprised to hear that. I would have thought that steep fee gets you prompt access to a concierge style customer service.
smectym
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Re: Did anyone have their AMEX limit lowered the other day?

Post by smectym »

AMEX is touchy and unpredictable with regard to charge limits. Sometimes the mandate “reduce net risk” reverberates throughout the org, and limits are slashed wholesale, perhaps with little weight given to a particular customer’s credit history or risk profile. In fact, cardholders most exposed to a limit reduction can be are those who use the card responsibly and typically never “use” anywhere near the credit limit.
finite_difference
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Re: Did anyone have their AMEX limit lowered the other day?

Post by finite_difference »

smectym wrote: Wed Jan 19, 2022 11:58 pm AMEX is touchy and unpredictable with regard to charge limits. Sometimes the mandate “reduce net risk” reverberates throughout the org, and limits are slashed wholesale, perhaps with little weight given to a particular customer’s credit history or risk profile. In fact, cardholders most exposed to a limit reduction can be are those who use the card responsibly and typically never “use” anywhere near the credit limit.
Hmm I wonder if that could also be coupled to bond rates.
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Trism
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Re: Did anyone have their AMEX limit lowered the other day?

Post by Trism »

f35phixer wrote: Wed Jan 19, 2022 11:27 am mine was just raised ~3k
Which charge card to you have?
f35phixer
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Re: Did anyone have their AMEX limit lowered the other day?

Post by f35phixer »

Trism wrote: Thu Jan 20, 2022 3:50 am
f35phixer wrote: Wed Jan 19, 2022 11:27 am mine was just raised ~3k
Which charge card to you have?
AMEX Marriott Bonvoy.
Trism
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Re: Did anyone have their AMEX limit lowered the other day?

Post by Trism »

f35phixer wrote: Thu Jan 20, 2022 4:47 am
Trism wrote: Thu Jan 20, 2022 3:50 am
f35phixer wrote: Wed Jan 19, 2022 11:27 am mine was just raised ~3k
Which charge card to you have?
AMEX Marriott Bonvoy.
OK, that's a completely different type of product (revolver/credit card) than OP's (charge card).

Having a charge card with a specified limit means that OP's account is in some sort of special status (this is often related to a risk specific to the cardholder).

Issuers cutting credit limits on revolvers is generally more in response to what's happening in the overall economy (Chase cut the limit on our Marriott card by $30,000 during the pandemic, for example, and we have perfect credit, two strong incomes and no debt).

Many issuers of revolvers also cut limits for non-use.
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