OMG Just Approved for a Amex Gold Card

[Anonymous]

I'm in disbelief. I used the pre approval link on there site an they recommended the gold for me. Applied an was instantly approved. This is my first major CC approval. I had a collection just fall off my report a few weeks ago so all my reports are super clean. I do have to many inquires

Does this card have a set CL? I have heard so many bad things about amex so i don't know if i should be super happy or sad lol

[smallfry]

Congrats. Yes this card does have a spending limit.  Make your first purchase at Starbucks.

[Gibran]

Congrats!!! I've tried to get an AMEX twice, both times denied, maybe the 3rd time will be a charm later this year. I've heard some good and bad also but I would still like to have the card. again Congrats!!!

[Anonymous]

Congrats!!!!! now you are on your way to the big lead...

[Kiwill]

Super Congratulations!!!  What is your EX score and how many inquiries do you have on EX? 

[Anonymous]

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@Kiwill wrote:

Super Congratulations!!!  What is your EX score and how many inquiries do you have on EX? 

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I had like 19 inquiries no other baddies.

[Anonymous]

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@smallfry wrote:

Yes this card does have a spending limit.  Make your first purchase at Starbucks.

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How can i find out what the spending limits is...

[jaysdad2k]

I got my Gold back in May 2008. My TU and EQ were still "weak" but my EX was clean. I had Costco membership already and was approved for the True Earnings the next month for 2K. Since then, they seem to love like me. I called in for a CLI last November and the phone option gave me 5K instantly.

For the Gold, you can call in and they can do a test purchase to see if it will be approved. After a frustrating app spree in May, I switched from Gold to Platinum. Again, instant approval online.

Last October I called in and asked if the "no preset limit" was per transaction or per month. The CSR said it's per transaction, and I just did a test for 10K and it went through. By then of course, I had been with them for over a year and had used then steadily. I told him that I would not be spending that at one time until my next CD went Platinum. Funny thing, within days I got an email about 500,000 bonus points for chartering a private jet with my Platinum card!

First, make sure you call in to activate. I activated the TE online, but after 2 or 3 purchases I was declined at the Costco gas pump. Fortunately I had the Gold and paid with that. When I called in, they said I had not activated it, even though I had even made a payment on it! She said you are OK now, you are activated.

The first weekend with the Gold, we went to a fancy hotel at the beach. So the first two purchases were dinner at a local restaurant and the hotel. The total charged was less than $500. I think that Starbucks would be a good first purchase. I really don't travel that much and don't have a big income by any means.

Also, I like to make multiple payments during the month, and PIF before the statement cutoff. I would recommend setting up bill pay through your bank and PIF the first couple of purchases within a week of making them. I've read on here of people being called by Amex to make a payment the first month before the first statement is generated.

They won't allow you to make online payments until after your first statement. Once set up, you can pay directly.

Txjohn once made a statement that it is good to show a balance every now and then. I think showing a small balance with the first statement would be a good idea. Also, I let my AF show, and then pay it off. You can use the bank billpay to pay the fee a bit early if you don't want it to show.

Oh, finally, they charged me the AF on the Gold. I PIF'ed it and then called in. They agreed to waive the fee and credit it back. Apparently some promotions waive the AF and some don't. So if they charge you the fee, call in and they might just waive it.

[Anonymous]

Generally AMEX won't give you a number for CL....but you can call CSR and have them provide you a charge simulation.

For example, if you are considering a $1000 purchase, you can call and tell CSR "I am going to make a $1000 purchase, will this be approved on my AMEX."  They will put it into the system (not as an actual charge) and let you know if it will clear or not.

If you have thin credit or not a lot of major CC and higher CL's, then you probably have between a $500 and $1000 CL.  Could be a bit higher.  And this CL is not static...meaning that they may allow mulpile purchases equalling $1000 where they may have declined a single $1000 charge.

IME

[haulingthescoreup]

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@Anonymous wrote:

Generally AMEX won't give you a number for CL....but you can call CSR and have them provide you a charge simulation.

For example, if you are considering a $1000 purchase, you can call and tell CSR "I am going to make a $1000 purchase, will this be approved on my AMEX."  They will put it into the system (not as an actual charge) and let you know if it will clear or not.

If you have thin credit or not a lot of major CC and higher CL's, then you probably have between a $500 and $1000 CL.  Could be a bit higher.  And this CL is not static...meaning that they may allow mulpile purchases equalling $1000 where they may have declined a single $1000 charge.

IME

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And your limit will also increase over time with a successful track record.

Congrats and enjoy the card! I had one for 11 1/2 months, closing it only because I didn't want to pay the fee. (First year was free.) I opened a Blue right before closing the Gold and just kept going, and of course, the Blue has the opening year of the Gold --no new credit ding, although they did pull a new hard inq on EX.

You can call and do that trial test to guess what your limit is, but my advice would be to call them as little as possible. Just keep using the card and paying responsibly --PIF every month. Even if they dangle the option to carry balances, don't bite. Use it initially for restaurants, hotels, airline tickets, if you can, although I use mine everywhere, including the local wine store. But you want to present them with the spending patterns of a traditional old-school American Express "member."