Merry Christmas from American Express
So, ya. We've been paying off our AmEx to use it in the UK as our main funding source, and we found out today via email that AmEx has lowered our credit limit to just about $100 more than our balance.
Now, we never pay late and have good credit. I've learned today that this has happened to TONS of people: friends of mine have had their accounts (with low balances) flat-out canceled, and friends of friends have only learned their limits were lowered when their cards were declined. In fact, there's a TON of stuff online about it.
Now, I know we are very, VERY lucky to both have jobs, and I'm grateful we've made it this far without a scrape. And, of course, if this had happened ten days before the wedding, I would be locked up somewhere. The terrible news is that without the available credit, we just about can't afford 18 days in the UK -- but we'll lose $2500 in stuff already paid for if we don't go, plus John hasn't seen his dad and grandmother for 2.5 years, and I've never met them (and neither of them are in good health).
It's such a mess, and we don't know what to do -- scrape by, and spend most of our time sitting in his mum's house (god help me) or stay home, lose the money, and let him extend his February biz trip to the UK so he can see his fam then?
I feel like the Recession has smacked me in the forehead. And it hurts. From what I've been reading, anyone who carries credit card balances equal to 30% or more of their total available credit is in danger of having this happen.
Now, we never pay late and have good credit. I've learned today that this has happened to TONS of people: friends of mine have had their accounts (with low balances) flat-out canceled, and friends of friends have only learned their limits were lowered when their cards were declined. In fact, there's a TON of stuff online about it.
Now, I know we are very, VERY lucky to both have jobs, and I'm grateful we've made it this far without a scrape. And, of course, if this had happened ten days before the wedding, I would be locked up somewhere. The terrible news is that without the available credit, we just about can't afford 18 days in the UK -- but we'll lose $2500 in stuff already paid for if we don't go, plus John hasn't seen his dad and grandmother for 2.5 years, and I've never met them (and neither of them are in good health).
It's such a mess, and we don't know what to do -- scrape by, and spend most of our time sitting in his mum's house (god help me) or stay home, lose the money, and let him extend his February biz trip to the UK so he can see his fam then?
I feel like the Recession has smacked me in the forehead. And it hurts. From what I've been reading, anyone who carries credit card balances equal to 30% or more of their total available credit is in danger of having this happen.