Even on the charge cards (the ones that are paid in full every
month), there is a limit that gradually increases, based on your
spending pattern and payment history. I have not noticed any
reduction in that limit in my case, although during the past few
month my monthly spend has been about average.
As regards credit cards, whether Amex or others, they have been
cutting down on their exposure indeed, especially for customers whose
monthly spend is far below their credit limit. They want to ensure
that they do not become the lender of last resort for people who get
in trouble financially. A normal reaction given today's environment.
Nathan
On 4-nov-2008, at 4:29, Sue Pearce wrote:
>
> AS I understood it, it was only the cards that were paid in full at
> the end
> of each month that were entirely no limits. AE now offers rolling
> balance
> cards like the others that I don't think were ever no limit.
>
> bill Pearce
> ----- Original Message -----
> From: "Willie Wonka" <alienspecimen@xxxxxxxxx>
> To: <olympus@xxxxxxxxxx>
> Sent: Monday, November 03, 2008 9:20 PM
> Subject: [OM] Re: OT American express
>
>
>>
>> ...AE used to the "no limits" cc...
>>
>> And prolly thats why within the last few years some of the biggest US
>> companies dropped AE and switched to others as being the primary
>> business
>> cc.
>>
>> Boris
>>
>>
>>
>>
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Nathan Wajsman
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