How I slashed my own credit limit — reader mistake story
Update: Some offers mentioned below are no longer available. View the current offers here.
Today, I want to share a story from TPG reader Ben, who made a hasty decision after being approved for a new card:
Last year, I saw an increased welcome bonus offer (no longer available) for the Platinum Delta SkyMiles® Credit Card from American Express. I already had the Gold Delta SkyMiles® Credit Card from American Express, but I was flying Delta more frequently, so I decided to apply for the Platinum version and cancel my Gold card. I was instantly approved for the Delta Platinum card, and because I never had an issue with credit limits in the past, I proceeded to cancel my Gold card without checking the credit limit on my new account.
To my surprise, I later discovered that Amex had given me only a $5,000 credit limit on my new Delta Platinum card. Had I noticed the lower limit earlier, I could have moved some of my existing credit line from my Delta Gold card to the new Platinum [Delta] card before canceling the card.
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A low credit limit can inconvenience you not only by capping your spending ability, but also by increasing your credit utilization ratio (an important factor in determining your credit score). You may be able to increase credit limits simply by asking, but you should also look for opportunities to maintain existing credit lines when you close an account — the lower your cumulative credit limit, the more important it is to preserve what you have. Card issuers are often willing to transfer at least some of your credit from one account to another. This requires a phone call in most cases, but American Express facilitates the process by allowing you to shift credit between accounts online.
Even if your credit limit isn't a concern, don't cancel a card without considering the broader impact on your credit and finances, rewards and upcoming travel plans. Closing an account may unwittingly cost you benefits that you rely on (like lounge access or the ability to transfer points to travel partners), or jeopardize your rewards by making them susceptible to expiration policies. Looking at the big picture will help you identify adverse affects of closing your account that don't pertain to the account itself. If you find any, then you can re-evaluate your decision and consider alternatives like downgrading your card.
Related: What to do before closing a credit card
I appreciate this story, and I hope it can help other readers avoid making the same mistake. In appreciation for sharing this experience (and for allowing us to post it online), I'm sending Ben a gift card to enjoy on future travels, and I'd like to do the same for you. Please email your own travel mistake stories to info@thepointsguy.com, and put "Reader Mistake Story" in the subject line. Tell us how things went wrong, and (where applicable) how you made them right. Offer any wisdom you gained from the experience, and explain what the rest of us can do to avoid the same pitfalls.
Feel free to also submit your best travel success stories. If your story is published in either case, I'll send you a gift to jump-start your next adventure. Due to the volume of submissions, we can't respond to each story individually, but we'll be in touch if yours is selected. I look forward to hearing from you, and until then, I wish you a safe and mistake-free journey!
TPG featured card
at American Express's secure site
Terms & restrictions apply. See rates & fees.
| 3X | Earn 3X Miles on Delta purchases. |
| 1X | Earn 1X Miles on all other eligible purchases. |
Pros
- Delta SkyClub access when flying Delta
- Annual companion ticket for travel on Delta (upon renewal)
- Ability to earn MQDs through spending
- Various statement credits for eligible purchases
Cons
- Steep annual fee of $650
- Other Delta cobranded cards offer superior earning categories
- Earn 100,000 Bonus Miles after you spend $6,000 or more in purchases with your new Card within the first 6 months of Card Membership and an additional 25,000 bonus miles after you make an additional $3,000 in purchases on the Card within your first 6 months, starting from the date that your account is opened. Offer Ends 04/01/2026.
- Delta SkyMiles® Reserve American Express Card Members receive 15 Visits per Medallion® Year to the Delta Sky Club® when flying Delta and can unlock an unlimited number of Visits after spending $75,000 in purchases on your Card in a calendar year. Plus, you’ll receive four One-Time Guest Passes each Medallion Year so you can share the experience with family and friends when traveling Delta together.
- Enjoy complimentary access to The Centurion® Lounge in the U.S. and select international locations (as set forth on the Centurion Lounge Website), Sidecar by The Centurion® Lounge in the U.S. (see the Centurion Lounge Website for more information on Sidecar by The Centurion® Lounge availability), and Escape Lounges when flying on a Delta flight booked with the Delta SkyMiles® Reserve American Express Card. § To access Sidecar by The Centurion® Lounge, Card Members must arrive within 90 minutes of their departing flight (including layovers). To access The Centurion® Lounge, Card Members must arrive within 3 hours of their departing flight. Effective July 8, 2026, during a layover, Card Members must arrive within 5 hours of the connecting flight.
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- Enjoy a Companion Certificate on a Delta First, Delta Comfort, or Delta Main round-trip flight to select destinations each year after renewal of your Card. The Companion Certificate requires payment of government-imposed taxes and fees of between $22 and $250 (for itineraries with up to four flight segments). Baggage charges and other restrictions apply. Delta Basic experiences are not eligible for this benefit.
- $240 Resy Credit: When you use your Delta SkyMiles® Reserve American Express Card for eligible purchases with U.S. Resy restaurants, you can earn up to $20 each month in statement credits. Enrollment required.
- $120 Rideshare Credit: Earn up to $10 back in statement credits each month after you use your Delta SkyMiles® Reserve American Express Card to pay for U.S. rideshare purchases with select providers. Enrollment required.
- Delta SkyMiles® Reserve American Express Card Members get 15% off when using miles to book Award Travel on Delta flights through delta.com and the Fly Delta app. Discount not applicable to partner-operated flights or to taxes and fees.
- With your Delta SkyMiles® Reserve American Express Card, receive upgrade priority over others with the same Medallion tier, product and fare experience purchased, and Million Miler milestone when you fly with Delta.
- Earn 3X Miles on Delta purchases and earn 1X Miles on all other eligible purchases.
- No Foreign Transaction Fees. Enjoy international travel without additional fees on purchases made abroad.
- $650 Annual Fee.
- Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
- Terms Apply.
- See Rates & Fees