AMEX Charge Card Payment - Available credit

[smittyboy020]

May 16th, I made a $3000 payment on my Platinum charge card, but my available credit didn't change, ($5000 hard limitted).  What could possibly be the reason? 

[Anonymous]

It can take a day.  Or they could be having technical difficulties?  I'm sure it will turn out in your favor.  Keep checking with them and if after a couple of days, I would give them a call.  

[Berk]

It depends on how you paid your bill. I have auto pay set up. The payment posts on the due date but can take up to three days to show up in my checking account. I have also payed on the Amex web site and it can take 2-3 days to be reflected on my card balance even though it shows as paid on the due date.

[Anonymous]

That's strange... My payments reflect my available credit instantaneously. Question... How does your platinum charge have a $5000 limit?

[Berk]

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@Anonymous wrote:
That's strange... My payments reflect my available credit instantaneously. Question... How does your platinum charge have a $5000 limit?

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Its not all that unusual to have a hard limit put on an Amex charge card. Its like Amex says:

We may impose a spending limit on certain accounts based on risk factors, but no more than 10% of the card base (on a product-by-product basis) should have any spending limit placed on the account.‡

‡ Benefit Terms

No Pre-Set Spending Limit

No pre-set spending limit does not mean unlimited spending. Purchasing power adjusts with your use of the Card, your payment history, credit record and financial resources known to us, and other factors.

And this is right off the benefits page of the Plat card.

[core]

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@Berk wrote:
Its not all that unusual to have a hard limit put on an Amex charge card.

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 Yes, but it's rarely done for "no reason".  Whatever the reason is for the hard limit, it might also be the reason the payments need to clear first?

[smittyboy020]

The hard limit was set after an FR. 

[smittyboy020]

The payment was deducted from my checking account the following day.  I'm about to give them a call.  I'll post my results.