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Registered: ‎02-03-2012
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Which Amex Card can you get a higher limit on?

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I plan on getting an Amex business card.  Which would i be able to get a higher limit on.  Something like Amex gold, or something like amex plum, simply cash...etc?  I know Amex gold is no preset limit but i belive there is some type of limit they let you know about if you try to go over it..? My income varies but its over 100k and my credit scores are 822, 798 and 709.  It doesn't have to be an initially large limit, but which has the best potential to get to the highest limit eventually.  I need a high limit for my business.

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Registered: ‎07-14-2009
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Re: Which Amex Card can you get a higher limit on?


claypool wrote:

I plan on getting an Amex business card.  Which would i be able to get a higher limit on.  Something like Amex gold, or something like amex plum, simply cash...etc?  I know Amex gold is no preset limit but i belive there is some type of limit they let you know about if you try to go over it..? My income varies but its over 100k and my credit scores are 822, 798 and 709.  It doesn't have to be an initially large limit, but which has the best potential to get to the highest limit eventually.  I need a high limit for my business.



Hello and welcome.

 

May I ask where you got your scores?

 

 

 

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Epic Contributor
Posts: 25,565
Registered: ‎10-23-2007
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Re: Which Amex Card can you get a higher limit on?

You will have way more success building a Charge Card "internal" limit up abovce the 25k ish...

Do you have any other Amex credit products?

Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
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Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Which Amex Card can you get a higher limit on?

I can give you a little advice from my experience.

 

I got a AMEX Plat. Card in Dec 2011.  I hadn't had an open AMEX card for over 15 years.  In any case, it wouldn't let me even do a charge over $3500.  Basically it was worthless for me.  By Feb 2012, I was able to have $35k on the card and when I did a test transaction for $30k it let me.  So my limit by Feb 2012 was at least $65k.

 

So how did I do it?

 

Basically I prepaid my charges to give me a positive account.  For example, if I owed $1k on the card in the beginning of the month, I went ahead and paid $6k to give me a positive balance.  I would then spend through it and do it again.  Basically it artifically allowed me to make larger charges than their no pre-set limit was allowing me.  In any case, I spent around 12k in Dec and 25k in January.  By Febuary, I didn't do it as it was allowing me to charge whatever I needed to on it.

 

As for which AMEX to get, I don't think there is any difference in limits in any of the charge cards (could be wrong).  It is more a function of AMEX figuring out your spending habits and ability to manage credit risk.  The last poster had it right that the charge card limits go up faster.  If you get one of the credit cards, you might have higher initial limit but it won't move up as fast.

               LIMITS IN CARD DESCRIPTIONS
Valued Contributor
Posts: 3,096
Registered: ‎01-26-2012
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Re: Which Amex Card can you get a higher limit on?

BTW, you can only prepay when you have a balance and you need to do it with an AMEX rep via telephone or send in the payment.  The online payment won't let you.

               LIMITS IN CARD DESCRIPTIONS
Regular Contributor
Posts: 125
Registered: ‎03-01-2012
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Re: Which Amex Card can you get a higher limit on?

we did similar, while we didnt pre-pay we charged LARGE chunks ($50k) that we already had payments for.  This spiked our internal limit into the $75k range. 

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Posts: 673
Registered: ‎04-23-2009
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Re: Which Amex Card can you get a higher limit on?

Hey I have an AmEx Platinum card too this is great advice thank you for you input!  I'm not sure I would ever spend that much but I know now that I could continue to use my AmEx Platinum card if I did want to persue my own business one day!


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