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AMEX card holders: PREPARE TO BE FUCKED.
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Date: January 28th, 2009 10:27 AM Author: Shivering Nursing Home Sneaky Criminal http://www.msnbc.msn.com/id/27055285/
I cancelled my card last month when they pulled this shit on me with no written notice. I am starting at Big Law this fall and will likely make a good amount of money in my lifetime. I will NEVER own an AMEX card. EVAH. |
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Date: January 28th, 2009 10:32 AM Author: Elite Gaming Laptop What's the problem? They aren't going to let everyone spend wildly out of control, this is bad? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808141) |
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Date: January 28th, 2009 10:41 AM Author: Shivering Nursing Home Sneaky Criminal Read the article dood. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808171) |
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Date: January 28th, 2009 10:43 AM Author: Elite Gaming Laptop I did, I fail to see how this will in any way impact me (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808176) |
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Date: January 28th, 2009 10:55 AM Author: Shivering Nursing Home Sneaky Criminal It impacted me. I am you fuckface with the exception of 8 years of good payment records with AMEX. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808206) |
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Date: January 28th, 2009 10:56 AM Author: Alcoholic pontificating idiot so get another card asshat.
who the fuck cares what your limit is? |
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Date: January 28th, 2009 11:01 AM Author: Shivering Nursing Home Sneaky Criminal I already have a gold Visa and MC. I'm just saying AMEX is alienating customers who would have large lifetime spends by using idiotic metrics to determine credit worthiness that is in direct contrast to payment history. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808225) |
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Date: January 28th, 2009 11:01 AM Author: Elite Gaming Laptop It won't impact me though, so why should I care? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808222) |
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Date: January 28th, 2009 11:02 AM Author: Shivering Nursing Home Sneaky Criminal How the fuck do you know it won't impact you asshole? Better not grab a quick bite at Chili's or get your mortgage through Citi Bank. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808230) |
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Date: January 28th, 2009 11:03 AM Author: comical community account Could it just be that you are a poor? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808231) |
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Date: January 28th, 2009 11:05 AM Author: Shivering Nursing Home Sneaky Criminal No. I worked for 4 years before law school and have about $100k in stocks, 401ks, and cash. No debt and I start Big Law in the fall. I never was late on a payment to AMEX in 8 years. I ought to be their dream. And they fucked me over. Imagine what they are doing to their black customers. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808237) |
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Date: January 28th, 2009 11:13 AM Author: Elite Gaming Laptop I have $0 debt of any sort, I spent over 170k on my AMEX last year all on personal stuff. I seriously doubt they will be reigning me in anytime soon. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808260) |
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Date: January 28th, 2009 11:14 AM Author: Shivering Nursing Home Sneaky Criminal I agree on paper that they would be nuts to do so. Don't be suprised when they do though. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808267) |
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Date: January 28th, 2009 11:17 AM Author: Elite Gaming Laptop I won't hold my breath (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808279) |
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Date: January 28th, 2009 10:34 AM Author: Crawly location friendly grandma So people who hold sub-prime mortgages that they can't pay can't borrow as much as they used to.
Sounds great, I still get my cash back on time.
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Date: January 28th, 2009 10:37 AM Author: Alcoholic pontificating idiot OH NOEZ! A credit card company that is actually attempting to limit credit to unworthy borrowers and minimize losses!
you're a faggot. |
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Date: January 28th, 2009 10:41 AM Author: Shivering Nursing Home Sneaky Criminal Did you read the article fuck face? They are ARBITRARILY limiting credit based on where you live and where you shop. Additionally, if you have a mortgage through someone like Citi or Bank of America who lends both normal and subprime mortgages - they assume you are subprime with no other factual basis.
You fucking faggots crack me up. |
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Date: January 28th, 2009 10:44 AM Author: deranged rigor That's not really arbitrary. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808179) |
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Date: January 28th, 2009 10:46 AM Author: cruel-hearted place of business stop shopping at tjmaxx (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808184) |
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Date: January 28th, 2009 10:47 AM Author: Crawly location friendly grandma "His computer security and data recovery work is “profitable, it’s busy,” he said. "I burn through between $6,000 and $8,000 in travel each month,” which is billed to his clients, he added. He has relied on credit cards to pay for that before being reimbursed and said “it’s been very painful” to have his limit continuously lowered, making his business less viable.
"For Gilleland, the father of three young boys, the credit crunch is just one of a number of financial blows hitting at once. His Virginia home has plummeted in value to far below the amount of his mortgage, and his business expenses are climbing.
“I’m literally at the point where I have to fold the business up, and another dream bites the dust,” he said. “I went out to Monster.com and uploaded my resume because I have to look for a W-2 job. … It will take years for me to recover from this, especially as I’m firmly committed to not filing bankruptcy.”
He's clearly bullshitting. If his work was so busy and profitable, reducing his borrowing by a few grand a month wouldn't force him into bankruptcy. The guy the article is talking about is precisely the person who should not have a huge line of credit right now. |
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Date: January 28th, 2009 10:55 AM Author: Alcoholic pontificating idiot ti, oc, tcr. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808204) |
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Date: January 28th, 2009 2:26 PM Author: jet-lagged learning disabled indirect expression native even if he needed the credit, if his business was really that profitable he could get a small business loan and put up his accounts receivable as collateral. you can still get a small credit line from your community bank if you have a good business. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10809370) |
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Date: May 22nd, 2009 9:56 AM Author: Stubborn tan preventive strike Actually this is really hard to do right now. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799625) |
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Date: January 28th, 2009 11:03 AM Author: provocative azn how the fuck is that arbitrary you stupid fucking child? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808234) |
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Date: January 28th, 2009 11:07 AM Author: Shivering Nursing Home Sneaky Criminal Arbitrary - You shop at Chili's and live in Soho. Clearly, you are a deadbeat artist that is not worthy of your credit limit of 10k even though your payment history and credit score indicate you are.
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Date: January 28th, 2009 11:19 AM Author: provocative azn I'm going to give you a hint here because you were so combative (even when obviously wrong) - using assumptions is not arbitrary, even assuming that the assumptions were wrong.
and in the case of AMEX, it isn't clear at all that they are using flawed assumptions. I'd be willing to bet that their data is much more comprehensive and complete than yours. |
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Date: January 28th, 2009 11:01 AM Author: comical community account I dont see anything wrong with this. The reason we got into this mess in the first place in easy credit. It is good that credit card companies are finally clamping down. Your problem appears with the way they are doing it. But if you think about it, it is not all that arbitrary. A corporation like AMEX probably has hundreds of math and statistics people working on shit like this. They are certainly in a better position to analyze risk that you are. |
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Date: January 28th, 2009 11:03 AM Author: Shivering Nursing Home Sneaky Criminal Well, listen, they obviously were wrong about me - despite what the pensives they hired told them their spreadsheets said. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808232) |
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Date: January 28th, 2009 11:09 AM Author: Alcoholic pontificating idiot obviously better to err on the side of caution, especially ITE. Sorry that they reduced your credit limit. As above, stop shopping at tj maxx and maybe you won't have future issues. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808245) |
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Date: January 28th, 2009 11:11 AM Author: titillating outnumbered puppy office OK, that doesn't mean it's arbitrary. They are trying to manage risk. It's ridiculous to say that there is no relation between having a Countrywide mortgage or a variety of other things and increased credit risk. Risk management doesn't mean perfection and it's completely possible they will get it wrong, the result being that they piss off legitimate customers. Time will tell as to whether or not they balanced all of this correctly but I'm sure they took all of this into account when they were considering the policy and that they determined the benefits weighed in favor of the additional risk management. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808253) |
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Date: January 28th, 2009 11:12 AM Author: Alcoholic pontificating idiot this is right. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808256) |
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Date: January 28th, 2009 11:13 AM Author: Shivering Nursing Home Sneaky Criminal Brother, I am not saying they didn't do it thoughtfully. However (in a Stephen A. Smith tone), clearly the assumptions they are using are flawed. They just pissed me off to the point that I dropped them. How many times do you think this is happening country wide? It will affect their brand image in the future terribly. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808262) |
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Date: January 28th, 2009 11:14 AM Author: Alcoholic pontificating idiot i'm a student with little/no income, and my credit line is fine. sorry dude. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808270) |
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Date: January 28th, 2009 11:16 AM Author: Crawly location friendly grandma It's not going to be perfect like the above poster said, but I think most AMEX users, myself included support it. Frankly, the amount of credit they offer is ridiculous and it should be scaled down.
There is absolutely no reason my credit limit should allow me to live off of one cc for 18 months and I think they've realized this. If they reduce my credit limit in half, it's still way more than I really need and too high. |
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Date: January 28th, 2009 11:13 AM Author: Crawly location friendly grandma titcr (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808264) |
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Date: January 28th, 2009 11:22 AM Author: umber insecure organic girlfriend voyeur No one has commented on the use of "ding" at the end of the article? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808298) |
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Date: January 28th, 2009 2:08 PM Author: lemon theatre dopamine Good for AmEx. It's about time. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10809265) |
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Date: January 28th, 2009 2:16 PM Author: Domesticated Razzmatazz Library Mad Cow Disease Yeah, so, what's the problem again? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10809303) |
Date: January 28th, 2009 11:27 AM Author: Spectacular Impertinent Trailer Park I have over 40 credit cards since I signed up for almost every POS promotion I ever received in the mail, got the promotion reward and stopped using it. Wonder when most of these are going to get cancelled. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808314) |
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Date: January 28th, 2009 11:32 AM Author: Charismatic boistinker parlour Flame? Is anyone this dumb...? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808335) |
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Date: January 28th, 2009 11:34 AM Author: Spectacular Impertinent Trailer Park I literally have a box of credit cards that I used once or twice but still haven't expired. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808341) |
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Date: January 28th, 2009 11:38 AM Author: cruel-hearted place of business uh, this ups your credit score
hth |
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Date: January 28th, 2009 12:04 PM Author: Fighting low-t kitty cat digit ratio People with high credit scores do it all the time (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808516) |
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Date: May 22nd, 2009 12:10 PM Author: sexy roommate crackhouse (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11800188) |
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Date: May 22nd, 2009 5:32 PM Author: marvelous plaza Your credit score is benefited more by low utilization and average age of accounts rather than hurt by having too many credit cards. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11802025) |
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Date: January 28th, 2009 11:29 AM Author: haunting faggotry school cafeteria that's too bad. I enjoy having no limit. i wonder if my mortgage lender will doom me. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808323) |
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Date: January 28th, 2009 12:10 PM Author: Stimulating sticky hell stop fucking shopping at sav-a-lot and aldi's, stop going out for fine dining at fucking KFC and white castle you fucking nigger then amex won't be ashamed to have you on its bankroll (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808539) |
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Date: January 28th, 2009 12:59 PM Author: Laughsome carmine gas station mediation I think this is correct. AMEX used to be ultraprestigious, but now clerks at Aldi's see people like the OP using it. |
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Date: January 28th, 2009 1:01 PM Author: Maniacal fat ankles windowlicker Aldi's doesn't accept credit cards, only debit. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808761) |
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Date: January 28th, 2009 1:05 PM Author: Laughsome carmine gas station mediation *takes notes* (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808789) |
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Date: May 22nd, 2009 9:57 AM Author: Elite Gaming Laptop WTF is Aldis? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799629) |
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Date: May 22nd, 2009 10:01 AM Author: Laughsome carmine gas station mediation I think it's one of those stores where workers don't bother unpacking boxes. They get big ass crate of Kraft Mac and Cheese and then just throw it on the floor and let the customers tear it up. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799643) |
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Date: May 22nd, 2009 11:14 AM Author: beady-eyed hominid indian lodge Like lions tearing into a Kraft wildebeest? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799942) |
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Date: January 28th, 2009 1:00 PM Author: Laughsome carmine gas station mediation Someone was bitching about this recently because he did not understand the concept of "no pre-set limit." Was that you? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10808749) |
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Date: January 28th, 2009 1:01 PM Author: Maniacal fat ankles windowlicker When Obama canvassed neighborhoods with this kind of precision, it was brilliant.
When a credit card company tries to take self-help action to stop its own bleeding with this kind of precision, it's mocked. |
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Date: May 22nd, 2009 2:01 PM Author: medicated sandwich So you're arguing, by analogy, that "precision" is always good.
compelling. |
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Date: January 28th, 2009 2:19 PM Author: Domesticated Razzmatazz Library Mad Cow Disease If lowering your credit limit at a thousand bucks or two really effects your spending, then you are exactly the kind of person that needs to have your credit limit lowered. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#10809319) |
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Date: May 22nd, 2009 10:54 AM Author: Rose House Ceo I have a Costco amex card that I only use at gas stations and at Costco itself. I just received a notice that based on my use of the card where other Amex users have used the card, they have decided to half my credit limit from 41k to 20k. What. The. Fuck?
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Date: May 22nd, 2009 10:55 AM Author: Alcoholic pontificating idiot 41k? How many gallon jars of mayonnaise do you need? (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799864) |
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Date: May 22nd, 2009 10:56 AM Author: Rose House Ceo I don't care that they decreased the limit, I do care that the rationale is ridiculous. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799867) |
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Date: May 22nd, 2009 2:06 PM Author: slimy sooty marketing idea pit I'll be the first to admit that I don't know anything about this, but doesn't a drop in your total credit limit decrease your credit score? So even if your spending isn't affected your score still is? Some people are reporting decreases of more than just $1K or $2K, and if I felt my FICO score was being adversely affected by unjustified credit decreases then I'd be complaining too, whether my actual spending is affected or not. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11800788) |
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Date: May 22nd, 2009 9:32 AM Author: Shivering Nursing Home Sneaky Criminal I warned you assholes. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799550) |
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Date: May 22nd, 2009 9:33 AM Author: Garnet Vivacious Home indeed you did. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799554) |
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Date: May 22nd, 2009 9:46 AM Author: Laughsome carmine gas station mediation True. Prolly the only useful thread of yours. Tt provided a warning AND a lulz at your poordum. Thanks for the bump. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799601) |
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Date: May 22nd, 2009 10:02 AM Author: Elite Gaming Laptop and I told you there was no reason to get worked up (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799647) |
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Date: May 22nd, 2009 10:12 AM Author: naked ape step-uncle's house explain (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799686) |
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Date: May 22nd, 2009 11:18 AM Author: disrespectful senate To be fair, my corporate Amex is still good. All is well. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11799954) |
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Date: May 22nd, 2009 4:17 PM Author: Canary church building giraffe So Amex is cutting poors and risky borrowers - boo-hoo. Even if they reduce my credit limit it's not going to affect me, I rarely go over 4k balance on a 20k limit. If you're getting affected by this then theyre probably doing the right thing afterall.
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Date: May 22nd, 2009 4:47 PM Author: medicated sandwich it lowers your FICO score. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11801716) |
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Date: May 22nd, 2009 4:50 PM Author: Canary church building giraffe If that's the case I would be justifiably angry (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11801726) |
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Date: May 22nd, 2009 5:33 PM Author: marvelous plaza It obviously does this. (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11802028) |
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Date: May 22nd, 2009 4:18 PM Author: self-absorbed state masturbator I thought this would be a gross old man thread (http://www.autoadmit.com/thread.php?thread_id=923710&forum_id=2#11801581) |
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Date: May 22nd, 2009 4:43 PM Author: henna hot business firm round eye TBF, I've only had income from part time jobs and internships.
My spending limit is still the same. |