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About LinkBacksI received yet another notices today from Amex cutting my credit limit by about 70%. Is there anything in the credit card reform that protects us from CL decreases? I have a feeling that once they can't raise interest rates right away then they instead will start cutting limits instead.
I mean what's in place to stop them from cutting a limit to near or below an outstanding balance? There's no protection.
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Centurion Member
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- Apr 2008
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When will the interest rate carnage end?
OBAMA
Stop talking crap about him!
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Centurion Member
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Is there a reason for this? Have you been a bad boy or taken out a car loan or something lately?
I thought AMEX had no credit limit anyway. Or is this a blue card or something like that?
I guess teh other question is whether you need the higher limit. If you don't then it is probably better that they lowered it.
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Centurion Member & Moderator
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I think the reason we are seeing all these aggressive changes is because they know it will be harder to get away with after the reform takes place.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
Current Cards: American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Citi Thank You Premier
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