topic Re: Crap... did I just screw myself? in Credit Cards

Crap... did I just screw myself?

Anonymous — Sun, 11 Oct 2015 02:36:51 GMT

I'm going on a vacation in a couple of weeks, and I'll be staying at a Starwood property. My SPG card is the last card I opened, and I was only approved with a ridiculous limit of $1,000. That limit at most would pay for a night or two of any hotel I would stay at. I have a stay coming up that will cost almost 10 times my limit, so I called them and prepaid money on the card so I could use it and get the increased SPG points. I just realized that my statement date is coming up in a couple of days, and on the American Express website it shows my available credit as $10k. Will this be reported to the credit agencies as my new credit limit this month? It's going to drop back down to $1,000 as soon as I spend that money. I'm afraid if that happens it's going to look bad to my other card issuers.

Re: Crap... did I just screw myself?

Skye12329 — Sun, 11 Oct 2015 02:48:58 GMT

No it won't report as your credit limit. It should just show on your report as a 0 balance or a -10k balance on your report. Most likely it the 0 balance.

Re: Crap... did I just screw myself?

Skye12329 — Sun, 11 Oct 2015 02:49:45 GMT

On a side note Amex is kinda slow in reporting IMO so it might not even show up for a while if the card was recently opened that is.

Re: Crap... did I just screw myself?

red259 — Sun, 11 Oct 2015 02:51:05 GMT

Maybe they will increase your limit after everything is PIF.

Re: Crap... did I just screw myself?

NRB525 — Sun, 11 Oct 2015 03:09:58 GMT

Is the BCP aged enough to donate credit limit to the SPG?

Re: Crap... did I just screw myself?

Anonymous — Sun, 11 Oct 2015 03:11:05 GMT

@NRB525 wrote:
Is the BCP aged enough to donate credit limit to the SPG?

No, I only got it in March or so.

Re: Crap... did I just screw myself?

Anonymous — Sun, 11 Oct 2015 04:20:42 GMT

Good you paid ahead. In the future they will just let you charge over that silly limit (I have the same silly limit) and as long as you pay it in full BEFORE the statement cuts you'll be fine. I did have my tiny Delta report $1500 of its $1000 limit once before I had a moment to pay it off and my score dropped 30 points for the month...

Re: Crap... did I just screw myself?

Anonymous — Sun, 11 Oct 2015 05:20:00 GMT

I would call American Express and ask them. Don't stress yourself out with speculation.

Re: Crap... did I just screw myself?

Anonymous — Sun, 11 Oct 2015 12:58:18 GMT

@beautifulblaquepearl wrote:
I would call American Express and ask them. Don't stress yourself out with speculation.

Good advice!

Re: Crap... did I just screw myself?

Kutuzov — Sun, 11 Oct 2015 13:10:11 GMT

If the cc close with a - balance they might send you a check for that amount. I have overpaid cc before, most of the time they just keep it and report a - balance (not a cl increase). I think last time I did it was with PayPal sc, and they send me a check. So definitely call them.

Re: Crap... did I just screw myself?

Anonymous — Tue, 13 Oct 2015 02:18:37 GMT

@Anonymous wrote:
@beautifulblaquepearl wrote:
I would call American Express and ask them. Don't stress yourself out with speculation.
Good advice!

Thanks Music!