Does Amex report both amount owed and credit limit or, do they just report status. Here's why I ask. I woke up on Jan 1 of this year knowing I owed way to much on cc. My resolution was to get out of cc debt. Unfortunately, some of my creditors agreed and begin raising rates and reducing credit limits. I was never late on a single card and always at least the minium due. My rates ranged from 12.99 to 14.99 except Optima. It stayed at 9.99. I quit getting any bt offers and the cc companies wouldn't lower rates. Thus far this year I've paid dowm about 20% of what I owed on 1/1/01. Late Aug. Amex sent me a Optima consolidator app. I filled it out aand asked to bt about 8k that zeroed out 3 cards. They approved it at a rate of prime +3.49%. This past week, I've gotten 2 great bt offers from other cards. I just wonder if the AR are seeing a large payment made and not realizing it is a bt and that is sending offers my way again? I don't want the inquires but, would it be reasonable to pursue these offers?
I HAVE AMEX BLUE...credit limit was NOT on EXPERIAN so I disputed it and EXPERIAN removed it...(THE WHOLE ACCOUNT)... EQUIFAX and TRANSUNION has the credit limit.
Was the "consolidator" a BT to your credit card, or is it an installment account? Cause if it's an installment account, that would explain it. Your revolving debt went way down. Why not get a copy of a report and see? You can get the free ones - that ought to give you a clue. AmEx has got some sense, LOL. Everybody else wants to trap you, AmEx says, "come on over here."
It is a new credit card. I called and asked about it and the CSR told me I will have 2 different optima accounts and the minimum due monthly is 2% of the balance. Should have tried for more!. You're right, Amex is good to deal with. Thanks for the help.
