topic Re: Putting a large transaction on my new AmEx BCE in Credit Cards

Putting a large transaction on my new AmEx BCE

trnj88 — Wed, 15 Mar 2017 14:11:20 GMT

I am buying an engagement ring soon for my girlfriend that will be between $4,800-$5,200. Long story short, I was going to pay for this in cash but, as part of my app spree last week, got approved for a BCE with a $10,300 CL at 0% APR for 12 months and 1% back for standard purchases like this. I'm thinking of buying it with the BCE and then paying it off to get the $50.00 back (plus a $100 bonus for spending >$1,000 in the first three months) but would this flag something at AmEx? I know they can be FR-happy for things like this, which I don't mind, but don't want to go through any "red flagging" or hassle associated with immediately utilizing 50% of my $10.3k CL in the first month.

Thanks

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 14:20:20 GMT

No it won't trigger anything special. I've had my Amex Delta Gold & HHonors for less than 2 months now and probably ran over 10k through both (and PIF afterwards). However, with such a large purchase, wouldn't you rather want to use it to meet a larger sign-up bonus spending criteria? Idk what other cards you applied for, but for example Chase Marriott has a 80k points with 3k spend, just as an example.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 14:20:21 GMT

@trnj88 wrote:
I am buying an engagement ring soon for my girlfriend that will be between $4,800-$5,200. Long story short, I was going to pay for this in cash but, as part of my app spree last week, got approved for a BCE with a $10,300 CL at 0% APR for 12 months and 1% back for standard purchases like this. I'm thinking of buying it with the BCE and then paying it off to get the $50.00 back (plus a $100 bonus for spending >$1,000 in the first three months) but would this flag something at AmEx? I know they can be FR-happy for things like this, which I don't mind, but don't want to go through any "red flagging" or hassle associated with immediately utilizing 50% of my $10.3k CL in the first month.

Thanks

I doubt it would cause a problem. It sounds like you plan on paying it off immediately anyways so by the time they noticed it you probably wouldn't have a balance any longer.

Re: Putting a large transaction on my new AmEx BCE

HeavenOhio — Wed, 15 Mar 2017 14:26:19 GMT

You can hop into chat and ask them if you could potentially freak them out.

Also get clarification on any restrictions regarding payments. There are some limitations during first 30 days after you connect your bank account to AMEX.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 17:22:03 GMT

Shouldn't be a problem. I put a $2400 purchase on my PRG in the second month of having the card and thousands more on other purchases and Amex hasn't said a single thing!

Re: Putting a large transaction on my new AmEx BCE

Appleman — Wed, 15 Mar 2017 17:26:47 GMT

If you have two cards that need to get some spend to qualify for a bonus, split the payment.

Get your AMEX bonus and there are plenty of other bonuses available.

Re: Putting a large transaction on my new AmEx BCE

K-in-Boston — Wed, 15 Mar 2017 17:54:02 GMT

First, congratulations on both the engagement and the approval! When you are logged in to your AmEx account, you can click the Check Spending Power button next to your available credit. In addition to being able to see if they will approve a purchase larger than your credit line would normally allow, this notifies AmEx to expect a large purchase.

Re: Putting a large transaction on my new AmEx BCE

MyLoFICO — Wed, 15 Mar 2017 18:22:17 GMT

The only issue I see is getting married. That alone should scare you. I did it twice and still see a therapist occasionally but he is really good. His name is Dr. Mark. Dr. Makers Mark. He is from Kentucky but has an intoxicating personality. Congrats on the new AMEX though.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 20:07:58 GMT

It shouldn't be a problem. But if you call AMEX and explain what you are doing, they can make a note on the account so you won't have any issues. Hopefully the engagement leads to a long and happy marriage. Congrats.

Re: Putting a large transaction on my new AmEx BCE

thummel — Wed, 15 Mar 2017 20:56:11 GMT

I think you will be fine to be honest. They gave you the credit for a reason might as well use it is what I say.

Re: Putting a large transaction on my new AmEx BCE

oldman425 — Wed, 15 Mar 2017 22:21:05 GMT

My personnal rule is that I always call before a large purchase. Not sure if it's needed or not, but I would rather be safer than sorry.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 23:03:21 GMT

I am was the same situation yesterday on with our Amex BCP. i had to make two $5000 purchases unexpecedlty right behind each other. Our card is only 2 weeks old. I made the first purchase and got an email from Amex about large purchase then I paid $5,000 on our account. About 5 minutes later did the second one no problem. Got the same notice. Now the second one will take a little bit longer to pay. I will pay down so total over all cards is under 9% before the statement cuts.

Re: Putting a large transaction on my new AmEx BCE

HeavenOhio — Wed, 15 Mar 2017 23:21:35 GMT

Backwoods, you're actually in control of those notices. Click on "More Options" in the righthand column opposite your transactions. On the page that pops up, choose "Account Alerts" in the lefthand column. Open up "Fraud Alerts" and look for "Large Purchases." There you can set the threshold for which you'll be notified for large purchases, or you can shut off this feature entirely. I see that I'll get an e-mail for any purchase I make over $1,500, which is likely AMEX's default setting.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 23:34:53 GMT

@oldman425 wrote:
My personnal rule is that I always call before a large purchase. Not sure if it's needed or not, but I would rather be safer than sorry.

I think it also depends on what you consider "large". I'd say anything $3K+ should be called in advance just so that it doesn't get declined at the register and the embarrasment that follows.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Wed, 15 Mar 2017 23:38:07 GMT

You only go the $100 promo? they have a $200 for 1k spend promo going on for BCE

Re: Putting a large transaction on my new AmEx BCE

Thomas_Thumb — Thu, 16 Mar 2017 00:33:58 GMT

@trnj88 wrote:
I am buying an engagement ring soon for my girlfriend that will be between $4,800-$5,200. Long story short, I was going to pay for this in cash but, as part of my app spree last week, got approved for a BCE with a $10,300 CL at 0% APR for 12 months and 1% back for standard purchases like this. I'm thinking of buying it with the BCE and then paying it off to get the $50.00 back (plus a $100 bonus for spending >$1,000 in the first three months) but would this flag something at AmEx? I know they can be FR-happy for things like this, which I don't mind, but don't want to go through any "red flagging" or hassle associated with immediately utilizing 50% of my $10.3k CL in the first month.

Thanks

No red flag and no AA.

However, going over 49% UT on a new account the 1st month might result in temporary score drop of up to 20 points - IMO. Also, it looks like reporting a $5k balance will increase your AG UT to above 9% which will contribute to the score drop. If you won't be applying for any new credit, leveraging the 0% interest has its advantages.

Re: Putting a large transaction on my new AmEx BCE

trnj88 — Thu, 16 Mar 2017 13:13:41 GMT

Thanks all, great advice. I just re-checked the terms of my Amex BCE and it looks like the bonus for spending over $1,000 is actually $250 and not $100! Not sure where I got the $100 from. So $250 + $50 cash back is pretty solid. Pretty sure I'll jump on chat to give them a heads up and go for it.

And thanks for the well wishes! Hopefully this isn't the biggest mistake of my life, LOL. @MyLoFICO, if you don't mind please pass along the number for your therapist

And thanks Thomas_Thumb, good point, I don't really mind the score drop since my spree is done now and I'm just resting on new apps until at least a year from now.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Thu, 16 Mar 2017 17:59:33 GMT

Hey OP do you have a link to the $250 offer so far I've only found $100, $150, and $200 bonus but no $250.

Re: Putting a large transaction on my new AmEx BCE

Anonymous — Thu, 16 Mar 2017 18:10:54 GMT

@MyLoFICO wrote:
The only issue I see is getting married. That alone should scare you. I did it twice and still see a therapist occasionally but he is really good. His name is Dr. Mark. Dr. Makers Mark. He is from Kentucky but has an intoxicating personality. Congrats on the new AMEX though.

Oh my gosh, best response ever LOL! (and totally my feelings on marriage at the current time )

OP Congrats on the Amex and the soon to be proposal!!

Re: Putting a large transaction on my new AmEx BCE

trnj88 — Fri, 17 Mar 2017 20:43:09 GMT

@Anonymous wrote:
Hey OP do you have a link to the $250 offer so far I've only found $100, $150, and $200 bonus but no $250.

I don't have a link but I did save the terms of my prequal offer to a Word doc. Here's what it says:

OFFER TERMS

Welcome bonus offer not available to applicants who have or have had this product.

$250 Statement Credit

To qualify for the $250 statement credit, you must make purchases with your Blue Cash Everyday® Card from American Express that total $1,000 or more within your first 3 months of Card Membership starting from the date your account is approved. In rare instances, your period to spend $1,000 may be shorter than 3 months if there is a delay in receiving your Card. Also, purchases may fall outside of the 3 month period in some cases, such as a delay in merchants submitting transactions to us or if the purchase date differs from the date you made the transaction. (For example, if you buy goods online, the purchase date may be the date the goods are shipped).The statement credit will be applied 6-8 weeks after the spend threshold is met. Qualifying purchases can be made by the Basic Card Member and any Additional Card Members on a single Card Account. Purchases to meet the spend requirement do NOT include fees or interest charges, balance transfers, cash advances, purchases of traveler's checks, purchases or reloading of prepaid cards, or purchases of any cash equivalents. Additional Card Members on your account are not eligible for this offer. To receive the $250 statement credit, your Card account must be active, in good standing, and not in default at the time the statement credit is posted to your Card account. For questions regarding your Card account, please call the number on the back of your Card. American Express reserves the right to modify or revoke offer at any time.