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I was recently approved for a new Amex Blue Cash Everyday card. I haven't gotten the card in the mail yet, and the approval email didn't mention what the credit limit would be. I was able to get into the online account, however, where the card shows "Avaliable Credit" of $500 and "Credit Limit" of $1000. Which of these is the real credit limit? If I have a credit limit of $1000, why is there only $500 of avaliable credit? Does anyone understand the difference between these two number and what they mean?
@tlgp wrote:I was recently approved for a new Amex Blue Cash Everyday card. I haven't gotten the card in the mail yet, and the approval email didn't mention what the credit limit would be. I was able to get into the online account, however, where the card shows "Avaliable Credit" of $500 and "Credit Limit" of $1000. Which of these is the real credit limit? If I have a credit limit of $1000, why is there only $500 of avaliable credit? Does anyone understand the difference between these two number and what they mean?
That's odd. Did you request a balance transfer to your new BCE card?
congrats on getting this card and welcome to AMEX family if you're new!
@tlgp wrote:I was recently approved for a new Amex Blue Cash Everyday card. I haven't gotten the card in the mail yet, and the approval email didn't mention what the credit limit would be. I was able to get into the online account, however, where the card shows "Avaliable Credit" of $500 and "Credit Limit" of $1000. Which of these is the real credit limit? If I have a credit limit of $1000, why is there only $500 of avaliable credit? Does anyone understand the difference between these two number and what they mean?
The $500 available credit was because you asked to see your credit card number when you were approved. If you were to go to Amazon and use that card number, a charge of up to $500 of would be approved. You cannot use the full limit until you phyically receive the card.
@GaTech wrote:That's odd. Did you request a balance transfer to your new BCE card?
congrats on getting this card and welcome to AMEX family if you're new!
I did not request a balance transfer or anything else like that- I just applied normally online.
Correct me if I'm wrong, but my understanging of these numbers is that the Credit Limit should always be the same (unless you get a CLI), and the avaliable credit should be the Credit Limit minus the current balance on the card; e.g. if you have a credit limit of $1000 and you make $150 in purchases, you should have $850 of avaliable credit. Since I haven't made any purchases yet, I should have $1000 in avaliable credit, right?
@longtime_lurker wrote:
The $500 available credit was because you asked to see your credit card number when you were approved. If you were to go to Amazon and use that card number, a charge of up to $500 of would be approved. You cannot use the full limit until you phyically receive the card.
That makes sense. So that should go up to $1000 when I activate the physical card, then.
Yes.
@longtime_lurker wrote:
@tlgp wrote:I was recently approved for a new Amex Blue Cash Everyday card. I haven't gotten the card in the mail yet, and the approval email didn't mention what the credit limit would be. I was able to get into the online account, however, where the card shows "Avaliable Credit" of $500 and "Credit Limit" of $1000. Which of these is the real credit limit? If I have a credit limit of $1000, why is there only $500 of avaliable credit? Does anyone understand the difference between these two number and what they mean?
The $500 available credit was because you asked to see your credit card number when you were approved. If you were to go to Amazon and use that card number, a charge of up to $500 of would be approved. You cannot use the full limit until you phyically receive the card.
+1
Current: EQ FICO 0, TU FICO 0, EX FICO 0 | Starting Score: 0 (08/21/2013) Starting total revolving credit: $0 | Current total revolving credit: $1600.00 Inquiries (12 Months): EQ 3-4 TU Unsure EX Unsure | Most Recent: 8/19/2013 | Mechanically Sound Car | Fifth Third $300 U.S. Bank Harley Davidson $300 Capital One Platinum $500 2nd Capital One Platinum $500 |
I'm not sure that an AMEX CL on a revolver actually means that you can spend that amount.
There's also the internal limit that Amex maintains.