AMEX everydayCard "Need to spend more?"

Anonymous · ‎10-31-2015

I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

CreditCuriosity · ‎10-31-2015

@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes you can spend over your credit limit on certain things, but you have to pay what you spend over your credit limit when statement cuts plus the normal payment amount whatever that might be. Hope that makes sense.

Anonymous · ‎10-31-2015

@CreditCuriousity wrote:
@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes you can spend over your credit limit on certain things, but you have to pay what you spend over your credit limit when statement cuts plus the normal payment amount whatever that might be. Hope that makes sense.

So , if my limit is $500 and a make a purchase for $500, now i have zero credit but was approve to spend another $500 i can use the card in 3 different stores for instance and will not get declined ?

longtimelurker · ‎10-31-2015

@Anonymous wrote:
@CreditCuriousity wrote:
@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes you can spend over your credit limit on certain things, but you have to pay what you spend over your credit limit when statement cuts plus the normal payment amount whatever that might be. Hope that makes sense.
So , if my limit is $500 and a make a purchase for $500, now i have zero credit but was approve to spend another $500 i can use the card in 3 different stores for instance and will not get declined ?

You can always get declined, as things are re-evaluated at the time of purchase. But yes, flexible spending cards, including Amex, do allow you to go above your CL (again subject to the transaction being approved) Non-flexible ones may also allow this, but that is less common.

Open123 · ‎10-31-2015

@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes, I've gone considerably over my Amex static CLs many times. The only condition is that you can't carry the portion above the CL and must be PIF before the due date.

Anonymous · ‎10-31-2015

@longtimelurker wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes you can spend over your credit limit on certain things, but you have to pay what you spend over your credit limit when statement cuts plus the normal payment amount whatever that might be. Hope that makes sense.
So , if my limit is $500 and a make a purchase for $500, now i have zero credit but was approve to spend another $500 i can use the card in 3 different stores for instance and will not get declined ?

You can always get declined, as things are re-evaluated at the time of purchase. But yes, flexible spending cards, including Amex, do allow you to go above your CL (again subject to the transaction being approved) Non-flexible ones may also allow this, but that is less common.

That doenst make sense that they would approve you to go over and you "may" get declined still ....

kdm31091 · ‎10-31-2015

@Anonymous wrote:
@longtimelurker wrote:
@Anonymous wrote:
@CreditCuriousity wrote:
@Anonymous wrote:
I need to spend more than my limit and i was approved according to the website. is that for real? also am i approved to over spend that specific amount on one single purchase or it means that when i reach my credit limit i will still be able to spend that extra amount in more than one purchase?

Yes you can spend over your credit limit on certain things, but you have to pay what you spend over your credit limit when statement cuts plus the normal payment amount whatever that might be. Hope that makes sense.
So , if my limit is $500 and a make a purchase for $500, now i have zero credit but was approve to spend another $500 i can use the card in 3 different stores for instance and will not get declined ?

You can always get declined, as things are re-evaluated at the time of purchase. But yes, flexible spending cards, including Amex, do allow you to go above your CL (again subject to the transaction being approved) Non-flexible ones may also allow this, but that is less common.
That doenst make sense that they would approve you to go over and you "may" get declined still ....

"Flexible spending" does not mean "unlimited spending". Transactions are still reviewed on a case-by-case basis. Or else what would stop people from charging up 500k and paying the minimum (or nothing!) for years and years? Lenders have to strike a balance between customer convenience (i.e. flexible spending) and risk management.

Anonymous · ‎10-31-2015

I remember reading a story on this board about a wealthy old couple who normally spend $150k/month on their card, and one time they were declined because they had spent $250k that month. Obviously they were very upset and the bank fixed that in a hurry. Moral of the story, even if you spend $150k/month you can still get declined.

Anonymous · ‎10-31-2015

I think you're missing my point guys , I'm saying if I'm approved on the web to go over my limit a certain amount for instance $500. I should not be declined for going over by $500 but then if I tried $501 it's another story

Anonymous · ‎10-31-2015

Dude, stop typing and go for it. Maybe we'll learn something new.