topic Re: Approved business and personal amex platinum - PoT limit equivalence? in Business Credit

Approved business and personal amex platinum - PoT limit equivalence?

dwsholdings — Sun, 07 Aug 2022 21:29:46 GMT

First amexes,

personal got approved with a $3k pay over time limit

business got approved with a $30k pay over time limit

does it indicate a general credit limit? Ie PoT equating to 1/3 of your undisclosed credit limit type deal?

just wondering, thanks fellas

Re: Approved business and personal amex platinum - PoT limit equivalence?

babygirl1256 — Mon, 08 Aug 2022 06:09:57 GMT

Congrats on your Amex Business and Personal Platinum approvals . . . isn't that double annual fee? I have the business platinum but not convinced yet that the benefit if worth the annual fee . . . at least not yet!!!

Re: Approved business and personal amex platinum - PoT limit equivalence?

whoknows1 — Mon, 08 Aug 2022 16:29:51 GMT

I agree, I have the plat and they are targeting me with Business Plat with only 120k points and I think $15k spend in 3 months or something like that... not worth it.

Never used the PoT thing. Is it a big deal? I always pay in full every month.

Re: Approved business and personal amex platinum - PoT limit equivalence?

SouthJamaica — Thu, 11 Aug 2022 16:28:02 GMT

@dwsholdings wrote:
First amexes,

personal got approved with a $3k pay over time limit
business got approved with a $30k pay over time limit

does it indicate a general credit limit? Ie PoT equating to 1/3 of your undisclosed credit limit type deal?

just wondering, thanks fellas

No, it's not a credit limit.

Some folks do feel that it provides a hint as to what your soft internal limit might be on the charge cards, but I think that soft limit changes much more frequently than the POT number.

My advice is to tread softly during the first 6 months with any Amex charge card, and if you want to increase your soft limit, to increase usage gradually rather than abruptly, and to pay down promptly.

Re: Approved business and personal amex platinum - PoT limit equivalence?

cashorcharge — Sun, 14 Aug 2022 20:39:54 GMT

WooHoo!! Congratulations on your AMEX Approvals!!👏🏼🍾🥂

Think of the POT limit as the maximum amount they will allow you to carry over when a statement closes. If you've spent $50K that month, you'll need to pay them at least $20K....if you've spent $5K...you'll make a minimum payment on the POT balance should you chose to POT and not PIF that month.

Re: Approved business and personal amex platinum - PoT limit equivalence?

jcooks — Mon, 15 Aug 2022 19:22:17 GMT

@cashorcharge wrote:
WooHoo!! Congratulations on your AMEX Approvals!!👏🏼🍾🥂
Think of the POT limit as the maximum amount they will allow you to carry over when a statement closes. If you've spent $50K that month, you'll need to pay them at least $20K....if you've spent $5K...you'll make a minimum payment on the POT balance should you chose to POT and not PIF that month.

Not exactly...any charges that puts the balance over the PoT limit will have to be paid in full. So let's say OP has a balance of $29k and puts a 10k charge, that 10k will have to be paid in full after statement closing plus minimum due which should be $3900 (10% of balance).

Re: Approved business and personal amex platinum - PoT limit equivalence?

NYC_Fella — Tue, 16 Aug 2022 17:16:55 GMT

I have never seen the PoT limit in the approval email. Can someone post a screenshot? I had to wait for the first month's statement to be issued before I was able to see what it was.