Amex reduced limit of Plat Charge

[Heisenberg37]

Hi guys i just received the email.
I have never missed any payment
But they reduced my limit to 2.6L

What can be the reason?
Anyone else facing this issue?
Will it increase over time? Or else I’ll close it in renewal

 

[Swastik]

It was never no limit

Emphasis on "Virtually"

I know there's a shadow limit ,but its undisclosed

 

[BestBanker]

Emphasis on "Vistually"

I know there's a shadow limit ,but its undisclosed

Your spend power can be checked

 

[Vishal K]

Hi guys i just received the email.
I have never missed any payment
But they reduced my limit to 2.6L

What can be the reason?
Anyone else facing this issue?
Will it increase over time? Or else I’ll close it in renewal

I faced a similar issue with Amex. I have been a member since 2018 and have canceled multiple cards in between. Last month, I received a platinum charge card and spent ₹3.1 lakh, which I paid off before the statement was generated. A customer executive informed me that as a charge card, I could use up to ₹15 lakh. When I checked my spending power, it approved ₹10 lakh.

Two days ago, I used ₹5.2 lakh, but today I received an email stating that my credit limit was reduced to ₹3.1 lakh. When I contacted customer care, they mentioned it was due to internal criteria and asked for income proof for a manual limit change. I provided my March and April statements; in March, I received a bonus, but in April, my salary was slightly less since no bonus was included. Despite receiving over ₹7 lakh in salary for both months, they said this wasn't acceptable due to the salary difference and requested Form 16.

I requested to cancel the card and refund the joining fee since it is new, but they refused. I have now shared my May salary slip and statement and am awaiting confirmation. I find this card problematic and would not recommend it. I initially took this card for an upcoming trip abroad in July, but encountering such issues during the trip would be unacceptable.

 

[SSV]

. I find this card problematic and would not recommend it.

could not agree more ...the issue here is: " uncertainity " .. It kills all the enthusiasm..

 

[Vishal K]

could ot agree more ...the issue here is: " uncertainity " .. It kill all the enthusiasm..

My platinum travel card has a limit of 7.15 lakh.😀

 

[ALOAK]

It was never no limit

Yes but will have shadow limit i think

 

[Vishal K]

I spend around 5-7 Lac monthly

Have you received any updates on your credit card regarding its limit?

 

[Lobogris]

My platinum travel card has a limit of 7.15 lakh.😀

Mine has 9.46 lakhs as initial limit and I thought it was on the low side! I would certainly expect at least 10 lakhs and preferably 25 lakhs plus from Platinum card.

 

[Vishal K]

Mine has 9.46 lakhs as initial limit and I thought it was on the low side! I would certainly expect at least 10 lakhs and preferably 25 lakhs plus from Platinum card.

could not agree more ...the issue here is: " uncertainity " .. It kills all the enthusiasm..

They are unable to change the limit, and if I cancel the card, they will not reverse the joining fee. This card is only one month old. I have already raised a complaint with the grievance redressal and CRPM departments of the RBI. Can anyone suggest what else I can do?