American Express Amex
Credit limit lowered repeatedly despite on-time payments

After being a "member" for over 4 years with NO late payments to American Express or any of my other creditors I suddenly receive a notice from them that they are lowering my credit limit from $7500 to $4700. This was right above my $4500 balance. I called and was given crap about the ratio of my payments to balance was to low. I complained that my payments were in excess of the "minimum" payment due and that I was not late with them or any other creditor so this was unfair. If the wanted me to pay more, why not make the minimum payment more? No answer. Sorry m'am. Then 3 months later they lower it AGAIN to $4300. WHAT??? I didn't pay enough in 3 months. Then go figure, I up my payments to almost 4 x's the minimum, but STILL that is not enough because 6 months later, they lower my limit again. They say that I'm not paying enough to them, and now, not enough to my other creditors! They say my balance to credit limit ratio is too high. Well I guess so if you keep lowering my limit to bring it within a couple of hundred dollars if my limit. If I wanted a CHARGE card (the regular AMEX that you pay in full at the end of each cycle) I would have one. In fact I did have the gold card, I closed that account because of this nonsense. This is a credit card (Amex Blue), in which you are allowed to carry a balance. All of this is a game, and I'm through with them. I am going to move the balance and keep the account open so that I have 100% of my limit available. I also filed a complaint with the BBB about this fraudulent practice and if this has happened to you, you should too!

Company: American Express Amex
Country: USA
State: Texas
City: El Paso
Site: americanexpress.com

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