topic Re: AMEX Plum NPSL Question in Business Credit

AMEX Plum NPSL Question

eg2222 — Mon, 04 Jan 2021 18:50:14 GMT

So I have an AMEX Plum NPSL card and have had it for 5 or 6 months I believe. Some months I use it pretty heavy and other months not as much. I pay in full every month and get the 1.5% statement credit. When looking at the account today I noticed a message that says "You're eligible to apply for a Preset Spending Limit" with a hyperlink to do so. I'm trying to figure out what the advantage would be to do so...I figure there must be one because I'm "eligible" but who knows. I've never had the card denied since getting but the max I've spent so far is around $25k in the statement period. For fun I did the Check Spending Power and entered $74,500 and it came back as approved.

So my question is is there any real advantage to converting to a Preset Spending Limit since I'm "eligible" or would you leave it as is since I seem to not be having any issues? Has anyone converted from NPSL to PSL and what was the overall takeaway? Thanks in advance for your comments!

Re: AMEX Plum NPSL Question

fffaaaa — Wed, 06 Jan 2021 02:13:24 GMT

Something weird is happening with the Plum card.

I had it for 8 months, spent on average 20K per month on it, always paid in full except for august when i was traveling and i deferred to september and then paid in full again.

Well, after that I got a letter from them and they transformed my NPSL into a pre-set limit (4.3K - I will probably cancel the card because of that)

So I don't know if having a pre-set limit on it is good, but it seems to me that on that specific card they are trying to get rid of NPSL.

Go figure, maybe in your case you'll get a very high pre-set limit, but if you did the "Check Spending Power" and you got 74K, I won't risk that for a PSL which is unpredictable.

Re: AMEX Plum NPSL Question

eg2222 — Wed, 06 Jan 2021 13:52:04 GMT

@fffaaaa That does seem weird that they converted it on your behalf. You might be right that something is up with the Plum. Your comments confirm my suspition to leave it as is but now I'm concerned they will do it for me anyways.