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Amex reduced limit of Plat Charge
- Thread starter Heisenberg37
- Start date
What was your spending pattern in recent times? This is not usual.
RAMESH BABU N
TF Ace
If you are spending even 50K-70K PER MONTH, this limit is more than enough.
Is it not ?
For any exceptional high value trxn, just call their CCare and you will never have a problem.
Why worry ?
Is it not ?
For any exceptional high value trxn, just call their CCare and you will never have a problem.
Why worry ?
I guess OP CIBIL soft pull had some issues. Otherwise Amex doesn’t restrict over spending pattern instead restricts over risk. OP check your CIBIL once and if you feel this is a mistake then raise it to them.
I spend around 5-7 Lac monthly
RAMESH BABU N
TF Ace
Then call them immediately. Blast them n ask for the reason for their action.
helloworld
TF Legend
high risk w.r.t income they had from you. If they observe multiple high value transactions on single merchant then they might ask for proofs or reduce the limits as per T&Cs.
some negative trigger.. spend to income / cibil / suspicious transactions / over usage.. talk to bank.. sort it out.. they haven't blocked it so definitely not anything to do with fraud.. will increase slowly
In that case they should be assuming mismatch between income and spending. please check with customer care and provide the documents to them.
Usually Platinum card is a charge card and limit will be varying according to your spends. Never saw Amex sending Credit limit mail for charge card.
2 points is nothing.. it doesn't mean anything in cibil..
What about leverage level?
Happens when unusual transactions happens/ if card is inactive /delayed payments
watchseekr
TF Buzz
I had the same thing happen a few months ago. My monthly spends were decent at 6-8 lakhs a month and suddenly they put a limit of 2.6 as well. Their own retention team wasn't sure why it happened but claimed it was done automatically by their system and they couldn't reverse it. After 2 credit reviews or whatever it is when they ask for the documents to be sent so they can manually raise the limit and with the renewal charges being posted - I asked for the card to cancelled and hey raised it to 4 lakhs - which was too low for a 70k per year card so moved on from Platinum.
My suggestion is that you can try asking for a credit review but somehow we are the few unlucky ones who randomly get flagged by their system and the backend staff will not be able to help much.
My suggestion is that you can try asking for a credit review but somehow we are the few unlucky ones who randomly get flagged by their system and the backend staff will not be able to help much.
Vagaries of Amex.. Fun and games.. We are slowly becoming slaves to these banks.. they do what they want.. and redressal is a pain... RBI Ombudsman is the only silver lining... Systems have to change.. Credit Scores force us to bear all this as multiple cancelled cards also impacts score in short term atleast.. They shd have options to negate the impact where customer closes due to dis-sat..Just saying.. there are many angles
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