By: ChicagoTed
Last month I was married and we used our American Express Costco Rewards credit card on our honeymoon hoping to rack up a bunch of Costco rewards. Instead, two days after receiving our monthly statement (no change in credit limit on this statement) I went online to pay our bill. To my amazement, I noticed that I had $215 in available credit. On my statement I had $3200. Turns out Amex reduced our credit limit by 23.6% with zero notice. Thank goodness that we hadn't made any purchases going on the assumption that the statement we had just received was accurate.
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