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Has Your Credit Card Limit Been Cut?

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Many of us have been impacted by the current economic crisis by having our credit card limits cut. This is especially alarming to those who never make late payments and do not have negative items on their credit reports. A number of Credit Card Builder clients with perfect credit have experienced this.

Recently, Jon, a college student, went through this situation with his AMEX card. In May, Jon had a $3,200 credit limit and had his limit slashed to $1,000. For Jon, this was unacceptable! Anticipating the effect this could have on his credit report, Jon proceeded to call and speak with AMEX customer support. He was connected to their “support team” overseas and eventually to a CSR. After receiving arbitrary excuses as to why his limit was cut (none of which were pertinent to his situation), he became frustrated with their lack of sound reasoning and decided to escalate the situation.

Jon called two days later and spoke with another CSR and asked to be connected to a manager. The manager proceeded to tell him that he was “ineligible” to even protest the situation! This angered Jon to such a degree that he hung up the phone and decided to do some homework. After a few searches online, Jon found contact information for AMEX’s executive office. He called and was connected to a gentleman who told him that his credit was certainly worthy of having the decision reviewed. The next business day Jon received a call from the executive’s office letting him know that his AMEX account had been fully reinstated to its original limit of $3,200!

The moral of this story is that persistence pays off. Many Credit Cards Builders clients find it unusual that Credit Card Builders requests a client to call in multiple times to a lender in order to accomplish a specific task, e.g., changing the terms of a credit card, merging together two accounts, etc. But clearly these large companies do not have consistent guidelines, and many times with persistence you can take advantage of this to accomplish your goals.

For those interested in getting their AMEX cards reinstated, see below for links with contact information for AMEXexecutives.

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