Advice on AmEx Over the Limit Charges
Guest: Cathy
Post subject: Advice on AmEx Over the Limit Charges
Posted: Sat Mar 04, 2006 12:54 pm
Hi there everyone! I have an American Express Blue Card (the points one, not the cashback one). To make a really long story short I lost my job, am in the middle of a possible move, and got put on unemployment. However, I am trying to get hired on at another (though one that pays less) position. Which brings me to American Express. I am now over the limit with them not because of the charges that I put on there but because they decided to reduce my credit limit (I have so far kept up with all payments on all accounts including theirs). It looks like th money I had been saving to pay off one card will go the American Express to get me back under the new limit even though the supposded minimum for this month is less then that. Is this advisable? Also, I noticed they slapped a $35 over the limit fee on the account even though I was under the limit before all of this. Is this fee worth fighting and if so, any suggestions on how to do so?
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Guest: QikPass
Credit Expert (100+ Posts)
Posted: Sat Mar 04, 2006 4:59 pm
Of course its worth fighting for..
What do u have to lose except a few minutes of your time?
_________________
Fortune Favors The Bold...
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Guest: credithelp
Credit Expert (100+ Posts)
Posted: Sat Mar 04, 2006 7:30 pm
Did they say why they reduced your credit limit to under your current balance? Was it due to the unemployment?
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Guest: Cathy
Posted: Sun Mar 05, 2006 4:04 pm
They don't know about my unemployment. The reasons listed were things like too much on other cards, excessive inquiries (though I am going to check my report and look into that because there shouldn't be that many since I haven't been applying for much in the last year though perpective employers could have checked it) and things of that nature. I'm thinking of just paying their minimum payment when I get the bill but that will still put me a little over the new limit. I just find it unfair they are charging me an over the limit fee when the over limit was caused by their lowering it.........I just hope they don't raise the APR next because I won't be able to pay any of it if they do that.
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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Mar 05, 2006 5:18 pm
I've never heard of AmExp doing what you're saying--lowering the limit so it's below the current balance, then dinging you for an overlimit fee. Aren't you leaving something out?
For example, did they lower the limit and AFTER that happened you went over the limit because you kept charging before you KNEW they lowered the limit, or because other charges were in progress that AmExp did not know about? AmExp may have been harsh in lowering your limit abruptly, but I really don't think it's going to knowingly lower it below your then-current balance.
In any case, in your situation I'd just call AmExp, explain what happened, point out that you didn't cause the overlimit situation knowingly, and ask that the fee be reversed.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Cathy
Posted: Sun Mar 05, 2006 8:14 pm
No I was NOT over the limit prior to the limit decrease and never was. Made my payments on time as well with at least the minimum. I am honestly not leaving anything out. This was one of the accounts that I thought was in near perfect standing (other then the ballance). Never missed a payment. That said, I'm going to check my credit report to make sure everything is accurate because they are saying too many inquiries, my revolving ballance ratio on other cards is too high, etc. Apparently they decided to "Review" my account. I plan on ordering a copy of my report soon to check it for accuracy. Anyway, I'm going to write to them and see if I can get that fee reversed in the meantime I decided I'm going to take the money that I was going to use (from my tax refund) to pay off another card to pay enough on Am Ex so when they put finance charges on next month they won't put me over the limit again, charge me another fee, and hike up the APR. The other card I was going to pay off is also below the current limit I was just going to pay that one off first since it had the lowest ballance. Hopefully I will get the job I'm going for, my future move will go ok, and my card situation will follow.
Here is another question for you though. Does anyone have any suggestions on how to ask creditors to renegotiate the payment plan on other accounts? I have a debt management program (that the AM EX card wasn't on). I removed three other accounts from the program because I couldn't afford the accellerated payment schedual for them on unemployment and the program refused to help me renegotiate inspite of the monthly charge (even though part of the agreement is that I do everything through the program). I sent these other three letters essentially saying the accounts were no longer part of the program and that I needed to lower my payments until I found a job and got back on my feet. One responded they would lower the payment back to what it originally was but wouldn't budge on the APR (it was never lowered like it was supposed to in the first place). The other two haven't responded and are still requiring the same payments. These last two accounts were volentarily closed by me a long time ago in exchange for the lower APRS. The other one-the one that won't change the apr-is the former next card account. They said since the account payment wasn't going through the program they couldn't help me. So, I'd like to renegotiate on my own if I can. I already know that most of my credit problems are of my own doing, but if anyone has any ideas on how I can renegotiate on anything I'd really appreciate them.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Advice on AmEx Over the Limit Charges
Posted: Sat Mar 04, 2006 12:54 pm
Hi there everyone! I have an American Express Blue Card (the points one, not the cashback one). To make a really long story short I lost my job, am in the middle of a possible move, and got put on unemployment. However, I am trying to get hired on at another (though one that pays less) position. Which brings me to American Express. I am now over the limit with them not because of the charges that I put on there but because they decided to reduce my credit limit (I have so far kept up with all payments on all accounts including theirs). It looks like th money I had been saving to pay off one card will go the American Express to get me back under the new limit even though the supposded minimum for this month is less then that. Is this advisable? Also, I noticed they slapped a $35 over the limit fee on the account even though I was under the limit before all of this. Is this fee worth fighting and if so, any suggestions on how to do so?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: QikPass
Credit Expert (100+ Posts)
Posted: Sat Mar 04, 2006 4:59 pm
Of course its worth fighting for..
What do u have to lose except a few minutes of your time?
_________________
Fortune Favors The Bold...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: credithelp
Credit Expert (100+ Posts)
Posted: Sat Mar 04, 2006 7:30 pm
Did they say why they reduced your credit limit to under your current balance? Was it due to the unemployment?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Cathy
Posted: Sun Mar 05, 2006 4:04 pm
They don't know about my unemployment. The reasons listed were things like too much on other cards, excessive inquiries (though I am going to check my report and look into that because there shouldn't be that many since I haven't been applying for much in the last year though perpective employers could have checked it) and things of that nature. I'm thinking of just paying their minimum payment when I get the bill but that will still put me a little over the new limit. I just find it unfair they are charging me an over the limit fee when the over limit was caused by their lowering it.........I just hope they don't raise the APR next because I won't be able to pay any of it if they do that.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Sun Mar 05, 2006 5:18 pm
I've never heard of AmExp doing what you're saying--lowering the limit so it's below the current balance, then dinging you for an overlimit fee. Aren't you leaving something out?
For example, did they lower the limit and AFTER that happened you went over the limit because you kept charging before you KNEW they lowered the limit, or because other charges were in progress that AmExp did not know about? AmExp may have been harsh in lowering your limit abruptly, but I really don't think it's going to knowingly lower it below your then-current balance.
In any case, in your situation I'd just call AmExp, explain what happened, point out that you didn't cause the overlimit situation knowingly, and ask that the fee be reversed.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Cathy
Posted: Sun Mar 05, 2006 8:14 pm
No I was NOT over the limit prior to the limit decrease and never was. Made my payments on time as well with at least the minimum. I am honestly not leaving anything out. This was one of the accounts that I thought was in near perfect standing (other then the ballance). Never missed a payment. That said, I'm going to check my credit report to make sure everything is accurate because they are saying too many inquiries, my revolving ballance ratio on other cards is too high, etc. Apparently they decided to "Review" my account. I plan on ordering a copy of my report soon to check it for accuracy. Anyway, I'm going to write to them and see if I can get that fee reversed in the meantime I decided I'm going to take the money that I was going to use (from my tax refund) to pay off another card to pay enough on Am Ex so when they put finance charges on next month they won't put me over the limit again, charge me another fee, and hike up the APR. The other card I was going to pay off is also below the current limit I was just going to pay that one off first since it had the lowest ballance. Hopefully I will get the job I'm going for, my future move will go ok, and my card situation will follow.
Here is another question for you though. Does anyone have any suggestions on how to ask creditors to renegotiate the payment plan on other accounts? I have a debt management program (that the AM EX card wasn't on). I removed three other accounts from the program because I couldn't afford the accellerated payment schedual for them on unemployment and the program refused to help me renegotiate inspite of the monthly charge (even though part of the agreement is that I do everything through the program). I sent these other three letters essentially saying the accounts were no longer part of the program and that I needed to lower my payments until I found a job and got back on my feet. One responded they would lower the payment back to what it originally was but wouldn't budge on the APR (it was never lowered like it was supposed to in the first place). The other two haven't responded and are still requiring the same payments. These last two accounts were volentarily closed by me a long time ago in exchange for the lower APRS. The other one-the one that won't change the apr-is the former next card account. They said since the account payment wasn't going through the program they couldn't help me. So, I'd like to renegotiate on my own if I can. I already know that most of my credit problems are of my own doing, but if anyone has any ideas on how I can renegotiate on anything I'd really appreciate them.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
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