Amex Platinum Spending Limit?

[MrCredit]

Does anyone think the spending limit is better than say a Zync or Gold? I got approved with a $1k limit with SPG Amex which sucks compared to other lines I have.

[scenery_guy]

It will be better, and it will grow with you over time as you use it and build a relationship with AMEX. 

[gettnthere]

You can probably spend more on it, but even if it starts out low the internal limit grows crzy fast. I started out only  being able to spend 2k on my zync card and now I can spend over 15k!

[indiolatino61]

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@MrCredit wrote:

Does anyone think the spending limit is better than say a Zync or Gold? I got approved with a $1k limit with SPG Amex which sucks compared to other lines I have.

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You can always utilize the "Will my charges be approved" button. There is a rumor that using this button too much causes an FR, but many say that is just a myth.

[n777ua]

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@indiolatino61 wrote:

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@MrCredit wrote:

Does anyone think the spending limit is better than say a Zync or Gold? I got approved with a $1k limit with SPG Amex which sucks compared to other lines I have.

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You can always utilize the "Will my charges be approved" button. There is a rumor that using this button too much causes an FR, but many say that is just a myth.

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I've posted this before and I'll keep posting it, this is not a myth.  When I got my first green in '03 I'd play around with it, and tried $20k one night.  The next day my card didn't work.  I was FR'd, and the rep told me it was b/c I was seeing if Amex would allow a $20k charge to go through.  Maybe Amex has changed how they view this feature, but the only time I use it is when I'm legitimately checking if a charge will clear. (ie a single large purchase above my spending pattern)

[improvingmycredit]

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@MrCredit wrote:

Does anyone think the spending limit is better than say a Zync or Gold? I got approved with a $1k limit with SPG Amex which sucks compared to other lines I have.

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Hey MrCredit!

The internal limit assigned to your Charge Card is specific to your internal risk score and ability to pay.  With that... a person with a Zync, Green, Gold or PRG can have the same or higher spending ability depending on their profile then a person with the Platninum card.  It stands to reason though that many that can afford the Platinum card typically have a higher descretionary spending ability and probably do as a whole have a higher spending cap on their Platinum card then say the person with the Zync card or Green.  Hope that answers your question.

I think that you are putting too much concern to your SPG CL.  You might have hit an internal max for the moment with regards to Amex because of your available credit with your other lenders in relation to your income.  As time passes, you will grow your SPG limit and it will become a more usable card for you.  As far as your Platinum card is concerned.... use it a lot and your internal limit will grow considerably fast.  I know that with my PRG, I have a pretty high internal limit that exceeds my current CLs with my other lenders.  

[cashnocredit]

I've had my Plat for 1.5 years and average just under 10k/mo on it. I've checked my spend twice. The first time for a 20k purchase the second time for just over 50k. It did that because they were significantly higher than previous purchases so it seemed smart to check first. While I was approved for both near instantly it turned out the 20k check resulted in a soft pull, probably coincident with the spending check, on TU.  That was also when I had the card only 4 months or so. The 50k+ spend limit check didn't result in a soft. Interestingly, Amex initially would soft me every couple months but now it's like once in the last year. For comparison, when I made a $700 purchase on my pathetic Walmart card I was softed on the same day on TU.

I've really come to appreciate the value and spending power of Amex. It's exaclty what I need in a card.