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Regular Contributor
Posts: 142
Registered: ‎02-09-2008
0

AMX Gold PR Pay over time limit.

I got a letter today about some changes on my AMX Gold PR card and they state that i have a limit (internall I guess) of $35000.00 limit on my pay over time.

 

Has anyone else got a letter stating this and do you think AMX will report this limit to the CB's

 

Thanks

 

 

EQ 7/19/13 796
TU 04/29/13 784
EX 06/17/13 849
28 years credit history
17 years AAoA

CIT $15,900 BEST BUY $11,800 DISCOVER $10,000 LOWES $10,000 SEARS/MC $7,200 BELKS $5,700 JC PENNY $2,400 CHASE $5,900 AMX GOLD PR $NPSL AMX/BCP $11,200 SHELL/CITI/MC $80.00 (LMAO)
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
0

Re: AMX Gold PR Pay over time limit.

I think that's the standard limit for pay over time.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Regular Contributor
Posts: 142
Registered: ‎02-09-2008
0

Re: AMX Gold PR Pay over time limit.

Duncanrr

 

thanks

EQ 7/19/13 796
TU 04/29/13 784
EX 06/17/13 849
28 years credit history
17 years AAoA

CIT $15,900 BEST BUY $11,800 DISCOVER $10,000 LOWES $10,000 SEARS/MC $7,200 BELKS $5,700 JC PENNY $2,400 CHASE $5,900 AMX GOLD PR $NPSL AMX/BCP $11,200 SHELL/CITI/MC $80.00 (LMAO)
Established Contributor
Posts: 731
Registered: ‎02-15-2012
0

Re: AMX Gold PR Pay over time limit.

That is the standard pay over time limit.  The letter and changes are really just clarifying that Amex can change someone's pay over time limit if they choose to.  $35,000 has long been the standard limit and has never been reported as a credit limit to the bureaus.  Also, if you're wondering, it has no relation to your actual internal spending limit, so don't assume your limit is atleast $35K based on this.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Valued Contributor
Posts: 1,248
Registered: ‎07-18-2009
0

Re: AMX Gold PR Pay over time limit.

[ Edited ]

Koop10010 wrote:

That is the standard pay over time limit.  The letter and changes are really just clarifying that Amex can change someone's pay over time limit if they choose to.  $35,000 has long been the standard limit and has never been reported as a credit limit to the bureaus.  Also, if you're wondering, it has no relation to your actual internal spending limit, so don't assume your limit is atleast $35K based on this.


Yup, it's the standard pay over time limit. Applies to all charge cards including the Centurion!  The reason is that they securitize the pay over time debts and sell them for cash flow needs. There are SEC filings on these and they contain a ton of info regarding default rate history. Amex, like other lenders, has markedly improved default rates and they are now at decade lows.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Contributor
Posts: 322
Registered: ‎10-19-2012
0

Re: AMX Gold PR Pay over time limit.


669 wrote:

I got a letter today about some changes on my AMX Gold PR card and they state that i have a limit (internall I guess) of $35000.00 limit on my pay over time.

 

Has anyone else got a letter stating this and do you think AMX will report this limit to the CB's

 

Thanks

 

 


I have found that it is the standard limit, I have it as well and I received that same notice.  The notice does state that they can raise or lower that limit at anytime based on credit and ability to pay.   Also this is not reported on the CBs so you will not see a CL on your Charge Card ever because of the Pay over time feature.  Interesting as it may be Pay over time is considered a feature by AmEx and not a line of credit.

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
CreditKarma score = 785, CreditSesame score = 773, Vantage = 903
Established Contributor
Posts: 760
Registered: ‎02-11-2012
0

Re: AMX Gold PR Pay over time limit.

I have an Amex Gold Revolver. I may never need it.The Pay over Time Feature is a nice feather to have in your bag of tricks.  amex has ways of icing their cards for responsible users.

Starting scores 01/02/2012 EQ 707(Fico) TU 733(Fico) EXP 735 (FAKO)
Updated scores 06/01/2014 EQ 797(Fico) TU 768(Fico) EXP 769 (Fico), EQ 849 (Next Gen 5/27/14 Penfed)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Valued Contributor
Posts: 1,869
Registered: ‎03-23-2012
0

Re: AMX Gold PR Pay over time limit.

I know the 35k has always been standard, but why are they sending notices about changes effective 1/15/13? If nothing is changing there would be no need to send notices. I got the same notice for my Amex card.

I'm wondering if there will be a change with how they report to the CB's.
AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K
Frequent Contributor
Posts: 367
Registered: ‎06-02-2008
0

Re: AMX Gold PR Pay over time limit.

[ Edited ]

Pay-over-time is a nice little feature, and sadly I've used it... only because I didn't have a credit limit high enough to make the purchases I wanted to.  Interest is at 18% so I took a big hit for it, but I've paid it off pretty quick.  Good feature to have as long as you don't abuse it.  35k is plenty of a cap. 

 

Also, there isn't any change on my report.  It reflects the AMEX as it always, only the highest balance is my "credit limit" so to speak.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13
Valued Contributor
Posts: 1,869
Registered: ‎03-23-2012
0

Re: AMX Gold PR Pay over time limit.

According to the notices, the change is effective 1/15/13. I'm interested in knowing what this change is.
AmEx Green NPSL | Amex BCP 16K | Citi Simplicity 10k | Discover IT 9K | Chase Slate 7.5K | Amex Hilton HHonors Surpass 7K | Capital One QuickSilver 6K | Home Depot 5k | Chase Freedom 4.5K | LOC 2.5K

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