Amex closes more cards, and US Bank slashes my credit limits. [ Lightening deal post ]
$50 SoFi Money bonus:
$30 at Rakuten:
$15 Amazon w/ 1 Chase Point (Targeted):
💰 M1 Finance free checking account & fractional shares investing:
📈 Get 2 Free Stocks on WeBull when you deposit $100:
Get $10 in Free Stock from Public:
Keep your cards organized: Filmed on this:
[ Avoid Credit Card Shutdowns ]
[ Why US Bank Cut My Credit Limit ]
[ Avoid Chase Shutdowns Blog Post ]
[ Financial Reviews ]
0:00 Start here + Lightening deals
03:31 PayPal research on credit cards
7:28 Amex closing cards
10:58 My credit limits were cut
Advertiser Disclosure: Some of the card links and other products that appear on this website are from companies which AskSebby will earn an affiliate commission or referral bonus. AskSebby is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available
📈 Investing Apps:
Get 2 Free Stocks on WeBull when you deposit $100:
💰 Get $10 in Free Stock:
Invest for Free with M1 Finance:
Frequently asked questions about camera:
Camera Gear:
Camera:
Lav mic:
Recorder:
Bendy Tripod:
You’ll need this for the bendy tripod:
Music I use in videos:
Useful stuff:
🍔 $7 Off your first DoorDash order:
Best headphones for travel:
Monitor:
Card organizer:
Away Luggage:
Support our channel by shopping on Amazon!
Follow us for updates:
YouTube Subscribe:
Newsletter:
Facebook:
Twitter:
Instagram:
Mandy’s YouTube:
Mandy’s Instagram:
26 comments
My rule is to use my card every three months.
Or you can put a different subscription or bill on auto pay on each credit card
Wow! AMX really? Not surprised!
Schwab closed my checking account, with only 2 months of inactivity even I had IRA, brokerage, and 2 529's with them. I was pissed.
Hey Seb. Will having a higher credit limit across all cards lower chances of new CC approvals? Example: If my credit limit right now is half my income, will that affect my approval of the CSP or CSR? Should I lower decrease my limit? I have 6 year history, 3 chase cards and 2 citi cards.
Is the statement day due date the same day as reported date on your credit report.
Fuck AMEX a yuppie card for yuppies
Please do a review of the new United Explorer Card sign up bonuses!
Smooth. Informative. To the point.
An interesting data point… I stayed at a Hilton and when logging into the hotel wifi, I saw a offer for the Hilton Surpass. 2 free nights weekend reward after spending $3000. this seems far more valuable than the typical 130k Hilton points offer. I had wanted to get the surpass and signed up immediately. Interestingly I was rejected. Called the recon line and they had incorrectly counted by credit cards (not charge) as greater than 4. they corrected it and approved my card. the card also gets free night after spending 15K. potentially 3 free nights in the next year.
Chase cancelled one of my credit card that had a limit of 48,000.00 which I haven't use in two years.
This is new reality did any one hear strange sound?
I really love your channel , i am also a subscriber . I would like to know how many credit cards do you have ?
will it help to maintain a good Amex CC credit limit if you open a 5 year term CD with Amex Bank?
Good info Sebby!
I wouldn't follow you if I didn't feel like you had integrity. Thanks for looking out for us
“Play the game, don’t let the game play you”?? I just cancelled all of my 4 credit cards with Amex
Two platinum personal and business and two other business cards. Balance paid in full each month. Over the months they started to cut my credit limit amount. Called Amex and no clear explanation was given. All of my other credit card did not cut my credit card limits. I was furious and cancelled all of the credit cards which took me two hours as they were bouncing me around different departments in hopes of me just hanging up the phone and reconsider
I ended up cancelling all of my Amex credit card and disabled my business credit card terminal to decline Amex credit card from customers. I rather lose a sale than to accept Amex credit card from my customer.
Fuk Amex. I’ll give my business to my other credit cards issuers who have been loyal to me during the pandemic.
Amex should not do this to people who has good credit history with them but they don’t give a shit. They will cut your limit or dump/closed your account if they see weak economy and cut everyone limit to save their ass
There are other options. Remember that Amex
Are AMEX AUs affected by the no activity? Or is it OK as long as the main account has activity?
Unfortunately, I am one of them. From no preset to available XX.
So what happens to the money you had initially paid down if you were paying off a bigger limit?
I probably should have watched this before I signed up AMEX blue cash rewards card yesterday, I have a 750 credit score, pay my bills on time and in full with higher limits on my chase CSP, CFU and costco citi card. AMEX only gave me a 2k limit. Oh well, just will take advantage of the bonus and jsut keep it active
Your videos are helpful but highkey thought about scrolling past because your profile looks like the Youtube AD profile.
I have a question , It may be old but what is the redemption rate of the complimentary gold card with the Platinum AMEX…Thank you
Amex cut alll my cards down sebby. No late payments, only 1 hard pull in 2 years. They cut all my cards, example 18k to 1k… what a joke. I almost want to cancel all of them.
I think some people who have had their acounts closed or limits slashed forget about the concept of "universal default" that is common in the US. You may be paying Amex on time and in full every month but if any of your OTHER accounts are showing high balances (without corresponding high payments) over the past 6 to 12 months, Amex may get the jitters and take pre-emptive action. Another thing some consumers are not aware of is that WHERE you shop (type of store, post code etc) also plays a part in the fraud/loss prevention algorythm. If you have a history of shopping at high end department stores during your history with Amex and suddenly (and dramatically) change your shopping preferences (ie Walmart, Dollar Store etc) this may signal to Amex that you might be in financial trouble. << that in tandem with every increasing balances on your other cards is certain to get their attention. While I think some of the tactics are borderline paranoid, keep in mind Amex giveth and Amex can taketh. So treat all your creditors like gold and Amex will likely give you no worries.
citi bank closed both of my creit cards within 3 weeks of each other, one of these cards were my first of 8 years.