Is There A New 4 Credit Card Limit From American Express?
Yesterday Doctor of Credit shared some news that there may be a new 4 credit card limit from American Express. This came from a few reports and people were actually told by Amex reps that this was a new rule. This comes just a few days after people reporting denials from American Express for various reasons other than the 4 card limit. Up until now Amex has allowed most people to get 5 credit cards (and that did not include charge cards like the Amex Gold). But it appears that could be changing.
UPDATE: It appears charge cards are being including in the 4 maximum some of the time as well.
Why This Matters
It is hard to say for sure if this is a hard and fast rule yet. But with reps coming out and saying the 4 credit card limit is the reason for the denial does give it a lot of credence. We all know Amex reps give bad info from time to time but since there are multiple reports it seems likely. Some are even being cited the 4 limit and it is including their charge cards as well.
This change would mean you would need to close down a few cards before getting a new American Express credit card, assuming you are at the old 5 card cap currently. That makes it difficult for some people because they keep cards around for the perks or spending opportunities.
Let’s say you have an Aspire card for the perks, the Surpass card for grocery spend and the $15K free night and the Blue Business Plus for all around spend. You are already coming up against the barrier if 4 cards is the new norm. That doesn’t include people that use multiple Delta cards (some up to 4) to spend towards status etc. I think many of us could be dealing with this exact scenario.
This would be a pretty limiting rule for everyone in this space if it is in fact a new rule. It would make sense in this economic climate that Amex would want to limit their exposure. This along with them increasing denials could be a shade of things to come. We could be in for a bumpy ride folks so buckle up.
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