AMEX charge card questions

[Anonymous]

Hello all,

I just received my first amex and the idea of "no pre-set limit, but not unlimited" leaves a girl wondering just how much she can charge. I have other credit cards and normally use them for work expenses of 1-3k and PIF monthly. I've also been using my debit card for anywhere from 1-3k a month. I applied for an amex because I don't have cards with any decent rewards.

So..."not unlimited" left me wondering what type range I have too work with. When I called to activate the card I decided to ask. The card is the Gold RewardsPlus. The CSR told me as I built a history with amex the amout avail would increase....this is understandable. Then she went on to advise me to pay more than what was due. "But it's a charge card" I said..."I pay in full montlhy". She repeated...I repeated....thought there was a language barrier going on....then I realized she really meant pay more monthly than I owe. She said if the balance is 100.00 pay 125. or 150. Could this be correct? She assured me it was the best way to build a history and raise my "unlimited" limit.

When pressed for a "range" of my limit she said 2-3k. I'm onderwhlmed.

So....pay more than paying in full to build history?

And... 2-3k lousy limit on a Gold Rewards plus?

[Anonymous]

oops....

And.....thank you for any advice

[notmyname]

lousy?

You don't realize that is $36,000 in credit available to you each year and that if you did charge that much (AND PAY IT OFF) you would be raised to $100,000 almost immediately. You pressed for an answer to a question almost no one with Amex cards would ask. The answer can't come from them. It is entirely how you treat the freedom of no limit. From experience I can tell you that when you read on the info that comes with the card (you do read it?) that there are three criteria for how much freedom and credit you get , the most important one is history and you have NONE the month you apply. EXAMPLE; you go out and charge something under $500.00 everyday for two months. On the third month your computer dies and you go out and charge $3000.00 for a new one. They will call the store to verify you because it is a big jump and out of character from what they know of you so far.

Once there is significant variety on your account this is not going to happen. In the first six month honeymoon give them a break, call them before going to bestbuy and tell them you are about to buy a computer or whatever. They will not it and you will not get a call. When I am going on a major trip I call to inform them of my general itinerary so that flags don't go up on my sudden erratic card usage.

I have a very long relationship with amex across the board, in fact I built my credit with them instead of credit cards.

One thing you need to realize is this is a financial management company. One has credit cards , with them you have membership, and it can really mean something. They literally pay for my main vacatiion every year through the accumulation of rewards points. I pay almost all my other bills with them always, and all travel , dining , even a burger. I buy all things of value because they double the guarantees and you have full coverage the first ninety days even if you break it yourself on the way home.

I hope you will look into the possibilities and benefit as much as I have through the years. (you already have discovered for yourself that they great CS people. Nice and understandable)

And , no, I don't work for them. I'm just a member who found out if you hold up your end of the agreement , they certainly do theirs.

Good luck,

RP

Message Edited by notmyname on 09-03-2007 01:54 AM

[Anonymous]

You don't realize that is $36,000 in credit available to you each year and that if you did charge that much (AND PAY IT OFF) you would be raised to $100,000 almost immediately. You pressed for an answer to a question almost no one with Amex cards would ask. The answer can't come from them. It is entirely how you treat the freedom of no limit. From experience I can tell you that when you read on the info that comes with the card (you do read it?) that there are three criteria for how much freedom and credit you get , the most important one is history and you have NONE the month you apply. EXAMPLE; you go out and charge something under $500.00 everyday for two months. On the third month your computer dies and you go out and charge $3000.00 for a new one. They will call the store to verify you because it is a big jump and out of character from what they know of you so far.

Once there is significant variety on your account this is not going to happen. In the first six month honeymoon give them a break, call them before going to bestbuy and tell them you are about to buy a computer or whatever. They will not it and you will not get a call. When I am going on a major trip I call to inform them of my general itinerary so that flags don't go up on my sudden erratic card usage.

I have a very long relationship with amex across the board, in fact I built my credit with them instead of credit cards.

One thing you need to realize is this is a financial management company. One has credit cards , with them you have membership, and it can really mean something. They literally pay for my main vacatiion every year through the accumulation of rewards points. I pay almost all my other bills with them always, and all travel , dining , even a burger. I buy all things of value because they double the guarantees and you have full coverage the first ninety days even if you break it yourself on the way home.

I hope you will look into the possibilities and benefit as much as I have through the years. (you already have discovered for yourself that they great CS people. Nice and understandable)

And , no, I don't work for them. I'm just a member who found out if you hold up your end of the agreement , they certainly do theirs.

Good luck,

RP

36000. in credit....that's an interesting way to do the math.

How do you know I asked a question "almost no one with an amex would ask"? You call amex to "inform" them of your intinerary when you go on a "major trip" (major is subjective) yet you say you have a vevy long relationship with them. Maybe almost no one with a "very long relationship" who has "built their credit with them" does that. Furthermore, if amex doesn't know the credit range they are extending to me then who does?

I asked amex a VERY valid question. I'd like to plan on using the card, not charging a soft drink the first month and building from there.

Amex has no history with me... understand?  If I've charged a couple thousand during the month then want to take people out to dinner I don't want to wonder if I should pull the card out.

And btw... you infer that the "cs people where "great" and "nice and understandable". Infact what I did say is that I wondered if there was a language barrier problem.

CW13

[notmyname]

I'm guessing from your reply to my sharing some of my experience with you that there may be an attitude problem and that you don't take suggestions well , such as , to read the info that came with the card and you will find that "history" means a lot to Amex.

As far as my calling them about taking a trip; I do that for my own good. If I'm on a long trip , there are a lot of opportunities for people to get one's numbers and use them in this day of identity theft. If they have my itinerary and suddenly I'm also a thousand miles away charging they call me.(or I sure hope they do)

I've given you some good insight into how it works ; you will not have a history with ax if you aren't willing to take the time to build it. This is somewhat true of all companies and certainly credit in general. I have been reading on this site that people expect instant gratification. Yet, if you really read the advice of those who have learned the most here , you will find that time and history are ultimately the key.

Again , it is a charge card . There is no credit limit. However, during the first year, what you do with it will determine an eventual range, but it still will not be shared with you because it is like the Fico score. It changes by the minute and if you are handling your credit well will always be rising, if not you are declined. In answer to your question "who knows". You know when you are charging something how you stand, you know if you are using credit wisely

I offered you friendly insight and you got defensive.

Good luck,

RP

Message Edited by notmyname on 09-03-2007 02:58 PM

[MidnightVoice]

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notmyname wrote:

.

Yet if you really read the advice of those who have learned the most here , you will find that time and history are ultimately the key.

---

And the third arm - fiscal responsibility 

[Anonymous]

>>I'm guessing from your reply to my sharing some of my experience with you that there may be an attitude problem and that you don't take suggestions well , such as , to read the info that came with the card and you will find that "history" means a lot to Amex.<<

We've seemingly agreed on one thing...there is no history. My original question to them deals with the present... not a year from now. Oh... and did your  "you do read it?" comment come with any attitude?

The inclosed info does not satisfy my question.

>>As far as my calling them about taking a trip; I do that for my own good. If I'm on a long trip , there are a lot of opportunities for people to get one's numbers and use them in this day of identity theft. If they have my itinerary and suddenly I'm also a thousand miles away charging they call me.(or I sure hope they do)<<

Operative word: Hope.

>>I've given you some good insight into how it works<<

You've given me nothing. The question was not how to build a history with Amex.

>> you will not have a history with ax if you aren't willing to take the time to build it. This is somewhat true of all companies and certainly credit in general. I have been reading on this site that people expect instant gratification. Yet, if you really read the advice of those who have learned the most here , you will find that time and history are ultimately the key.<<

Again...the question was NOT "How can I build a history with Amex?"

>>> In answer to your question "who knows". You know when you are charging something how you stand, you know if you are using credit wisely<<

Again...not asking about a year from now or two or three. What has "using credit wisely" got to do with anything I've posted? In the original question I stated I need a card to charge work and personal expenses that I PIF monthly.

Now....who here wants to tell me how I can build  history with amex? hehe

CW13

[Anonymous]

Thanks for taking your time and replying. This person is ignorant and very immature, dont be discouraged in helping others again.

[SonorityGenius]

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kenbat wrote:

Thanks for taking your time and replying. This person is ignorant and very immature, dont be discouraged in helping others again.

---

CW11: you are on a Myfico forum asking strangers what credit limit is on your newly approved card.

Than you flame the responses as "not answering my question"

If the Employee of Amex was unable to tell YOU the answer to your question than no stranger on here is going to give you a perfect, correct answer.

As a general credit definition (found via Google) No Pre-Set Spending Limit means - JUST THAT. yes there is an internal "meter" in Amex's labs somewhere with your account number on it but not one CSR from Banglore or New York has an access key to it.

With that said the terms of the card state you have no spending limit so dont be afraid to charge the card. Remember it is a CHARGE card - you MUST pif EVERY month of the total you charged on it EACH month.  With that in mind,  one would LOGICALLY guess your limit is how much YOU have in your BANK account. You will need to spend only what you can afford to pay off IN FULL each month.

There, thats YOUR credit limit now.

[MidnightVoice]

Amex does seem to have a few quirks!  I don't have one, have never had one, probably won't get one, but if I did I would certainly want to know under what conditions they would change unlimited to a specified amount and freeze the thing.  I think as they are making money from me, that would be a very reasonable question to ask.

So put me in club of asking the question no-one who has an Amex card would ask.   

Message Edited by MidnightVoice on 11-05-2007 12:55 PM