American Express is lowering credit limits to certain customers, not because of clients making late payments or exceeding their credit limits, but because of what other customers in their geographic area are doing. The reason given to these clients is that they live and shop in the same places as people who have defaulted on their payments (yes, this is legal - there are no laws against this practice).
As a safeguard to avoid over the limit fees and negative credit:
Know your credit card balance limits.
Don't expect your creditor to warn you or not authorize the purchase.
Enroll in balance alerts if offered with your cardholder.
Keep your credit card balances low.
If you're not sure of your credit limit, call the credit card and check.
Mark Bustamonte
Sales Director
Qualified Field Trainer
660-433-2969 Office
www.vrtmg.com/mbustamonte
