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Hello everyone,
I had a question regarding the internal spending limits that are placed on amex charge cards... I know these cards have a NPSL, but however they do have internal limits placed on each account.. Do you feel that amex is more genourous with the amount your allowed to charge on a Plat verses a Gold card.... ( I am primarly wondering about the Business Plat and Business Gold, but would also like the experiences from users with personal cards.... )
I know that the cards have NPSL, and that spending limits are determined by many factors such as credit score, credit history, amex payment/spending history, amex internal score, and income...
But I was thinking the the person that is paying $450 for an AF verses $175 for the SPG would be able to charge more a month...... I will be applying for a business card next year, but just wanted to know what happens with others... I already have a Gold personal card... Was FR'ed a month back and have a hard limit of3k....just want to build some solid history with them before applying....
For me personally.... I dont travel much so the Plat is of no real use to me, but lets say I had a Plat and was paying the $450 AF and had a spending limit of 15K verses 10K on a gold, that alone to me is worth paying the AF....... And the fact that I write some it off under business expenses....
I like to have business credit cards rather than use my personal ones for business.... I have many personal cards but use them all for my business, this kills my score every month eventhough i PIF...... By having business credit cards they dont show up on the personal credit report, this is why i want to have them..... I got a Chase INk for 5K... so happy so far.... Im going to wait until Dec 12 or Jan 13 until I apply for a amex.....
I now have a Platinum, but had the PRG for about a year before the Platinum. My spend patterns were about the same with both cards. I can't say that my internal limit isn't better now that I have the Platinum because I've never asked what it is, but with either card I haven't had any issues butting up against the limit. I run about $5K average/month in business travel expenses through my card. Occasionally I have higher months. I've had no trouble charging up to about $30K on PRG or Platinum. I don't think they give much weight to the type of card. The AF is for the benefits, not for your credit line. I think usage and payment history play huge factors in your internal limit.
I think Amex evolves the internal limit system constantly, When we first had Gold Business it wouldn't let me charge much over $3k... Finally was told to write a letter saying I need $10k, I never received a response but I also never had issues charging anymore and they increased the internal charge line each month of full payment... then fast forward and I went about 6 months of not charging over like $1-2k and I got declined for something and called and they said the internal limit was reduced and that Amex was now taking an average each 3 months to adjust internal limit. That was also the last I heard of that way....
but im pretty sure color of card does not effect internal limit.
My recent Amex plat was the first rewards card I've ever had. Mostly I picked it for the lack of foreign ex fees and lounge access. I have a couple of regular cards that converted from secured cards a year ago. My AAoA is a bit under 2 years. One of the reasons I got the plat was the NPSL. While I am retired, I do have high income and a lot of other assets but had used debit cards up until I learned how credit works. I just didn't realize that not having any credit cards or any LOCs was damaging scores that could affect insurance rates and such.
The first month I charged almost 10k and increased spending since. I have since purchased items exceeding 20k. I have no idea what my actual SL is but it looks like it is adequate.
doesn't matter what card you have, just matters what your spending & paying patterns are + what AMEX believes you can pay. Our internal limit is about $55k, and this was formed after spending roughly $12k per month on the card and PIF, then hitting a few consecutive months with big ticket $25K - $50k charges. On our largest charge they called and ask that we pay some of it early since we had reached our max threshold..