I agree with you Eldarwen, they're too cheeky for me .

There is a reason why I will not use my Amex. It's a CLD!

I'm thinking about closing my AMEX account when it turns a year old in December because I have a feeling that they will close my account for some odd reason. They have already reduced my $1k limit to $500 which is ridiculous.

It would not look good if the AMEX account showed up as "closed by creditor".

Izach30, Fair Isaac does NOT factor income into the FICO scoring system so your income doesn't have any effect on your FICO scores. When you apply for any type of loan, it's a different story but again, it doesn't effect your scores. Banks take your income into consideration when it you apply for a loan. Good credit helps a lot but if you don't have the sufficient income, it MIGHT lower your chances at getting approved for the loan. Banks do check your credit report but if they see that you don't have the income to be able to pay the loan back, they will scratch their head and take a little more time to decide if they are going to approve you or not.

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Absolutely correct and I for one, am glad that fico doesn't consider income.

Someone need to slap a civil suit against them with #3. They seem prejudice against cardholders, this have nothing to do with them protecting themselves

I agree.

Someone need to slap a civil suit against them with #3. They seem prejudice against cardholders, this have nothing to do with them protecting themselves!

Cireone,I agree, reason number 3 sounds pretty lame. I wonder what the reasons are for the CLD on my AMEX. I will update as soon as I receive the letter.

I just received the "official" letter stating that I am having my credit limt deceased and the reasons.
The reasons are:
1. Credit score has decreased. (Ill admitt to that)
2. Account balances are too high. (what am I suppose to do in tough times)
3. You recently shopped where cardmembers with poor payment history have.

#3 is a crock of an excuse. First off I only used the account on a paypal transaction. have never used it since so how could they determine that i made a recent purchase. Its just them working down people.

Good posting hjm!:white-flag:You nailed it to the point!

Izach30, Fair Isaac does NOT factor income into the FICO scoring system so your income doesn't have any effect on your FICO scores. When you apply for any type of loan, it's a different story but again, it doesn't effect your scores. Banks take your income into consideration when it you apply for a loan. Good credit helps a lot but if you don't have the sufficient income, it MIGHT lower your chances at getting approved for the loan. Banks do check your credit report but if they see that you don't have the income to be able to pay the loan back, they will scratch their head and take a little more time to decide if they are going to approve you or not.

this is very tru, Im a Nj native. I went to live in ATL, GA for a while, with my horrible 500 score stores were throwing crecit at me, i was advised by a financial planner and he actually showed me a map how bacnk look at where you live an ofcourse being from NY metor area many here have high credit score therefore having that address and higer income I belive puts you in a diffrent scoring process than someone in the midwest

Meya....... too funny.....

I always have to give my 2 cents somewhere and every now and then... he-he.

Rockin35!

Way to go Rockin!

I am just lovin the signature....lol. WE know you are still around, you know FG is like the mofia, it takes blood to leave here because we will come looking for ya....lmao!

Well, I have to say, more than likely I will be one of those targeted. I live in Memphis TN (2nd Mid-Size city) for filing Chapter 13 Personal bankrupties based on statistics in 2006. Even though my student AM.EX that I've had now for about 6 years started out with $700 and now has a WHOPPIN" $1000 limit on it!!!

They can close it, I only use it for school books and chewin' gum anyways!!

Advice: AM.EX..... get somewhere and sit down before you loose all of your customers, you may just start a chain reaction of running off all of the am.ex customers with this stunt. Because contrary to there " in-house" CFO's,...... VISA is the true PREFERRED choice!!!! he-he

Rockin35stillaliveyall!!!

Oh and whats so SHADY is tht they dont even inform you prior to them decreasing your limit. I know Ill probably be seeing a letter like a month from now stating the reason and Ill be keeing everyone posted.