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What's the point of a limit if you can go way over?

Valued Contributor

What's the point of a limit if you can go way over?

I just got an AMEX HHonors card with a $2,000 limit. I checked the website and selected the check spending ability. I submitted a purchase for $3,000.

 

"

Your inquiry to spend $3000 has been APPROVED. This approval is based on your account information available at this time.
Hilton HHonors Card  - XXXXX
CREDIT LIMIT
TOTAL
Current Credit Limit
$2,000.00
Available Credit
$1,926.00"
 
I just got the card, if they are willing to approve me for $3,000 purchases. Why didn't they just give me a $3,000 limit. Haha, funky system they got there. Glad to know how soft the limit is.
Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 1 of 14
13 REPLIES
Valued Contributor

Re: What's the point of a limit if you can go way over?

The limit is the amount you can leave on the card from month to month, if you charge over the limit you may receive notice that payment is due in full on the amount over the limit by the statements due date. They may extend you the extra temporally, its not permission to keep the balance on your card for the next 3 years. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 2 of 14
Established Contributor

Re: What's the point of a limit if you can go way over?


jamesdwi wrote:

The limit is the amount you can leave on the card from month to month, if you charge over the limit you may receive notice that payment is due in full on the amount over the limit by the statements due date. They may extend you the extra temporally, its not permission to keep the balance on your card for the next 3 years. 

 

 


+1  Amex may allow you to go over your limit, but you are not going to be able to carry a balance any higher than your limit.

FICOs (2/24/12): EX 752, EQ 740
Chase Sapphire Preferred, Freedom; American Express PR Gold, Blue Cash Everyday
Message 3 of 14
Valued Contributor

Re: What's the point of a limit if you can go way over?

Makes sense. So, basically NPSL with a revolving limit of $2000.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 4 of 14
Super Contributor

Re: What's the point of a limit if you can go way over?

It is kind of like amex's version of a world MC/Visa Siggy with NPSL. You can go over the limit but anything over said limit must be PIF
Message 5 of 14
Established Contributor

Re: What's the point of a limit if you can go way over?

Still I would be carefull with going over the limit on a revolver with Amex. They have their charge cards for NPSL.

Amex Platinum | Discover IT | Amex BCE | Citi DCB | Chase Sapphire Reserve | Chase Sapphire Preferred | CapOne | NFCU goRewards and CLOC | Chase Freedom | Walmart | Alliant CU Visa | Couple of Biz Cards | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO (TU/EX/EQ): 737/772/752 - Total CL 215+K

Message 6 of 14
Frequent Contributor

Re: What's the point of a limit if you can go way over?

Other thing to keep in mind is that if you are over the limit at statement date for four months in a year you go to default apr.
Message 7 of 14
Valued Contributor

Re: What's the point of a limit if you can go way over?

Try 10000 and see what they said. Hahahhaha


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Message 8 of 14
Valued Contributor

Re: What's the point of a limit if you can go way over?

Your inquiry to spend $10000 cannot be approved at this time.
This request exceeds the limit on this account. Pay Bill can assist to increase the available limit on the account.
Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 9 of 14
Valued Contributor

Re: What's the point of a limit if you can go way over?


nada9188 wrote:
Other thing to keep in mind is that if you are over the limit at statement date for four months in a year you go to default apr.

I don't plan on ever going over. I actually think the APR they gave me was rather fair. Prime plus 11.99%

 

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 10 of 14