Something bad going on in banking behind scenes. Banks are starting to reign in on accounts like prior housing collapse under Biden Admin and this is very upsetting again.
OR is this something else very different say regarding 2nd Amendment and guns/ammo purchases perhaps?? My current statement shows my $20,000.00 credit limit. I made my normal monthly payment as I do (have small balance on card). And Saturday afternoon I did in fact try to use this card to purchase a hunting firearm (shotgun), and quickly was stopped, saying transaction declined & cannot be processed! Didn't think anything of it till Yesterday morning and used another CC to make that purchase.
My own story this Sunday morning is when I opened my e-mail, I had letter from AMEX in their stating, a Notice of Credit Limit Reduction !! I thought it was a scam letter, called AMEX, and told by an agent, due to an internal revue of all accounts with AMEX, that my long standing $20,000.00 credit limit has now been reduced to $5,000.00 !!! They are my oldest established credit card account (tied to Amazon even), going back to 1986 (35 years !). Now not due to anything wrong in my financial practices or account abuses of any kind, they are reducing the credit limit out of nowhere by 75% on an excellent creditworthy customer as I am ??... I have NEVER had a any standing balance on that card over $4,000.00 at any one time either so far below the normal 40% threshhold you want to keep to maintain credit score on monthly basis...
I would like to hear of others out there, small businesses especially, who may be seeing this like we are here. I have the AMEX Business/Amazon type card these days FYI...
