|
|
 Lowered Credit Limit
Posted Sun June 22, 2008 12:13 pm, by Melanie M. written to American Express Credit Cards
Write a Letter to this Company | Rate this Company
I had a credit limit of $5000. My balance was only $285. I received an offer for 1.99% APR therefore I wrote a check to the hospital for $3000 to pay off a hospital bill. Yesterday I received a letter from AMEX that my limit had been decreased to $500 and they were not honoring the check that I wrote.
I need some type of letter from AMEX stating that at the time that I wrote this check I had the credit available and my limit was not lowered until after the check was presented for payment.
 Reply
| Log In/Create an account | 7 comments |
|
|
| PlanetFeedback Comments are subject to strict terms and conditions. We reserve the right to deny site membership privileges to any individuals acting inappropriately. |
 |
 |
 |
|
|
by Dawn O. Posted Tue September 30, 2008 @ 7:16 PM
|
|
|
More on the subject -- I would not use American Express -- they are
giving their long-term, good customers a hard time -- my plan is to
phase them out, however tough to do with 0% interest on my balance --
just not on the top of the list of payoffs -- others ahead of this
one, the good thing is I am using their money for 0% interest! I
laughed when they lowered the limit -- perhaps they should have done
that a few years ago -- again I could not get a home equity for 0%
interest... I have had an AE card since 1994 always paid off the
balance and never a late payment and I got a letter!
Good Luck!
Reply
|
|
|
|
|
|
by Dawn O. Posted Tue September 30, 2008 @ 7:05 PM
|
|
|
I got the same letter lowering my limit a few weeks back for my AE
Blue Card. Today I got a letter for the Gold AE telling that my
flexible spending account on the gold has been suspended, which I have
nothing on my flexible account -- I pay the gold off each month, use
for gas, groceries, etc. and then pay the balance off. It has nothing
to do with you, your ability to pay or your credit rating -- that
banks have no cash to cover these anymore because of all the bad loans
they did -- hence all the news. I have A+ credit and have never in
15+ years that I have been with AE ever paid late -- I always pay my
balance on my gold. It is going to get worse before it gets better.
My suggestion is to get on a payment plan for your medical bills vs.
charging, they will work up a payment plan with you.
Me I am happy we are not bailing the banks out; unfortunately it will
most likely put us in a recession; however I think that is what it is
going to take. Just watched a news report on World News where a
couple with bad credit wanted to buy a new car, however they have bad
credit and cannot get a loan -- the bank told them to wait for the
bailout to be approved then they could give them a lone -- this is
exactly what will happen if we bail them out!!!!
I am quilting of using credit when I should not have, however I am not
looking for anyone to bail me out... my error, my responsibility!
Reply
|
|
|
|
|
|
by Liz Russell Posted Wed July 9, 2008 @ 2:40 PM
|
|
|
The thing is that they shouldn't get away with treating us - their
customers - like this; decreasing credit limits BEFORE sending out any
info about that seems to me like the wrong order of doing things,
although I'm aware of that it's legal...
I'm putting together a report regarding how lenders handle these
matters, and I've received several copies of "credit line decrease
info-letters" already; but I'll need more to get a strong case on
behalf of all customers here.
So - if any of you guys still have a copy of the letter, I'd love to
see it! Just leave out all personal information, that stuff is -
naturally - of no interest to me.
Thanks!!!!
Liz
Reply
|
|
|
|
|
|
|
|
|
by Liz Russell Posted Tue July 8, 2008 @ 1:41 PM
|
|
|
Hi. I saw your text and found it really interesting; the same thing
happened to me a while ago. I was wondering if you have the notice
that Amex sent you? If so, I'd love to see it -- I don't need your
personal information. You can black out your name and other personal
information. Thanks, Liz
Reply
|
|
|
|
|
|
|
My suggestion is to cancel your credit cards, live on what you earn,
and cut your lifestyle to where you will save money. This might
require a second job.
That way you don't have to charge medical bills.
Good Day
Reply
|
|
|
|
|
|
|
|
|
|
SHARED LETTERS 
del.icio.us
Digg this
