Larry King and Suze last night.
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Larry King and Suze last night.
| Fri, 11-21-2008 - 10:24am |
To all you guys out there with American Express cards If you get a letter from American Express lowering your credit limit seems that is going around. You are not alone.
Suze Orman was on Larry King last night for those who did not see her and Larry King stated that a few of HIS friends had gotten letters from American Express lowering their credit limit. And he ask what is up with that.
According to Suze


About six weeks ago, we were really short on money. (That's when you gave me the ideal to ask creditors to move my payment dates forward, of which two did, and two will in January.)
Norma
"Patience is the best remedy for every trouble"- Plautus
Here's another sneaky trick that I just discovered last week. I had a huge issue with Washington Mutual last January where they took money out of wrong checking account in an online paymnet. Long story short it was a nightmare to get fixed and in the meantime it caused my monthly payment to Bank of America to bounce and then be late. I called BoA and at the time I thought they were very accomodating and sympathetic and said they would refund all late/OD fees while I fought it out with Wash Mutual. This month I was reading all the way down on my BoA account and the various interest rates and it showed I had taken a cash advance for $175 at 29.9 percent interest. I have never taken a cash advance and would never because of the interest rate. When I called them they said that when the payment bounced they just transferred the amount due over to cash advance. I never authorized that! And to think I have been paying that horrible interest rate for 10 months. Once I called they were very polite about saying they would move it off cash advance but sheesh it was almost like, oops, we've been cuaght.
Moral of the story: read your statement to the last page every month!
Jenny
This week Amex sent a generic letter about contract modification and talked about the economy.
I have recently gotten letters on my Lowe's card and my Sam's Club card--both lowered my limit and they just happened to lower them both to just over my current balance.