Reply
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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%
Valued Contributor
Posts: 2,281
Registered: ‎09-16-2011
0

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 & CSP 10k & Freedom 6.6k & Amtrak 4.6k, FNBO DISC 14.9k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 12k Sally Mae5k Sams Club MC 10k, Paypal Extras MC 6k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5k, Walmart 10k, Citi Simplicity 7k, HHonors Gold 1k (moved 5k CL to Simplicity), Discover IT 10k and a nice stack of store cards.
Last APP/HP 4/22/2015
Established Contributor
Posts: 731
Registered: ‎02-15-2012
0

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
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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%
Super Contributor
Posts: 5,872
Registered: ‎12-11-2011
0

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
;
Established Contributor
Posts: 569
Registered: ‎09-10-2012
0

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 (NPSL) | Amex BCE (33,400) | Chase Sapphire Preferred (24,800) | Discover IT (16,200) | Citi DCB (7,000) | CapOne (7,000) | Chase Freedom (6,300) | Walmart (4,500) | Alliant CU Visa | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)


Frequent Contributor
Posts: 252
Registered: ‎11-27-2011
0

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.
Valued Contributor
Posts: 1,738
Registered: ‎08-13-2012
0

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

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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%
Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
0

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

[ Edited ]

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%
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.