Credit card banks have become much more conservative in their lending practices during the COVID-19 pandemic.
New customers are finding it harder to get approved for credit cards and some existing customers are finding their credit lines cut or cards that they aren’t using closed down.
AMEX on Twitter wrote that they now have a limit of 4 credit cards and 10 charge cards (Green, Gold, or Platinum cards) per customer:
Yes, we do have limits on Lending Consumer and Lending Business cards. The limit is four total of Consumer or Business lending cards. The limit for charge cards is ten.
— Ask Amex (@AskAmex) May 19, 2020
I reached out to the AMEX media team to ask if they can confirm the change and they wrote back that “We made that change because we see very few of our customers actively using four or more cards at the same time.”
If you already have more than that number of cards you can still keep them.
Previously AMEX allowed 5 credit cards, though I’ve never seen them confirm that in writing like they have now. It also wasn’t always enforced, though it was by some agents when applying for card reconsideration.
DDF member Joel2 reports that he was able to get instant approval on a new Hilton card earlier this week, despite already having 4 credit cards and 2 charge cards.
Hopefully that means this is more guidance than a hard and fast rule, but share your experience in the comments!