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Congrats! The same happened to me last summer. I fell out of my seat. Despite all the bad things said about Amex, I felt that I hit a credit nirvana.
I had been pre-selected for their Green, Gold and Platinum. I figured I could upgrade at a future date so I chose the Green. The decision was instant. My first purchase attempt foolishly was season tickets for a major sports team for over $2k. The charge was denied and I called Amex. I read in here that they have a magical limit and I inquired with them what that limit was. The CSR was friendly and she said that $500 was the max to start, but that they'd raise that ceiling by up to 1.5 times based on my spending habits, purchases, etc. I started spending and increased my habit each month. After 6-7 months of having the card, I already put on over $3000 in a single month without any issues or problem. In the beginning I set off a few red flags though. I have a detailed thread in here of what I put on by month through last month.
They don't report a limit. Your EX and EQ FICO scores wouldn't be phased if you put $0 on the card or if you hit your spending record on that card. The balance isn't factored into your FICO score. However with TU, specifically TU98 like found on here, your FICO reads the balance and the "high balance" or "limit". So initially as your magical limit increases, and assuming you use every bit of it, your TU 98 FICO score will take a hit.
llecs wrote:
...My first purchase attempt foolishly was season tickets for a major sports team for over $2k...
smallfry wrote:
Now I see why I was pre selected. Experian deleted my BK a couple of months early. Bit for an EX Vantage. Score went from 793 to 926 with the BK now gone.
haulingthescoreup wrote:"Major," huh?
llecs wrote:
...My first purchase attempt foolishly was season tickets for a major sports team for over $2k...
Yaaay! There's at least one team that was worst than us! Wooohooo!
@smallfry wrote:
Now I see why I was pre selected. Experian deleted my BK a couple of months early. Bit for an EX Vantage. Score went from 793 to 926 with the BK now gone.
Congrats on the preapproval and early BK drop! Vantage Score was docking you 133 points for a near 10 year old BK 7? Wow...that's amazing.