American Express Limits Spark Recession Fears Amid Viral Social Media Trend

An American Express credit card holder claims his spending limits were suddenly slashed to $250,000 per month from previously unlimited amounts. Kevin Kunze, a 29-year-old entrepreneur and influencer with nine American Express business credit cards, says he was forced to make payments of over $250,000 nearly a month early due to the new limits.

Kunze, who has spent an estimated $6 million to $15 million per year on his American Express cards since 2018, claims that this is not an isolated incident. He says he found online reports suggesting that American Express regularly adjusts credit limits based on various factors, but believes the recent changes may be a recession indicator.

Others have also come forward claiming their spending limits were reduced, with some comparing it to past economic downturns, such as the 2008 recession and COVID-19 pandemic. However, an American Express spokesperson disputes this claim, stating that the company regularly reviews card member accounts and may adjust credit limits based on a variety of factors.

American Express support team asked Kunze to upload his business bank statements or link his account digitally to restore most of his limits. This incident has sparked a viral trend on social media platforms like TikTok, with users calling it a 'recession indicator' and urging others to cancel their American Express cards.