topic Re: Amex The Check Spending Power tool in Credit Cards

Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 01:48:02 GMT

Hi All-

I currently have Amex Platinum and Amex Rose Gold charge cards. Both open less than a year. This morning, I used the Amex The Check Spending Power tool. When I entered the amount, I was denied. The amount was only $2,000. I did this on both cards. I have used this tool before just to verify that a charge will go through with no issues.

Now, I’m wondering if a Financial Review will occur? Has anyone experienced this issue?

Should I call Amex and see what happened? If I call, will that trigger the financial review?

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 01:41:13 GMT

From what I’ve read, FR will get triggered if you put in increasing amounts to try to find out what your max is, not if you check and are denied for a purchase amount.

The system expects that you’re actually checking for a purchase you will be doing, not seeing the max you can purchase.

Unless you put multiple amounts until you got to the ceiling, I would say not to worry about it.

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 01:49:01 GMT

Thank you!

Should I call Amex and see what happened?

Re: Amex The Check Spending Power tool

Remedios — Fri, 25 Jan 2019 01:52:57 GMT

@Anonymous wrote:
Thank you!

Should I call Amex and see what happened?

No, dont sweat FR, it wont happen . Leave it alone, you'll be fine

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 01:50:49 GMT

@Anonymous wrote:
Thank you!

Should I call Amex and see what happened?

If you are wanting to make that purchase, it could be worth a call to see why they won’t allow you to do so. As to whether they will increase that limit or not, I cannot say.

Re: Amex The Check Spending Power tool

Shadowfactor — Fri, 25 Jan 2019 02:13:12 GMT

@Anonymous wrote:
Hi All-

I currently have Amex Platinum and Amex Rose Gold charge cards. Both open less than a year. This morning, I used the Amex The Check Spending Power tool. When I entered the amount, I was denied. The amount was only $2,000. I did this on both cards. I have used this tool before just to verify that a charge will go through with no issues.

Now, I’m wondering if a Financial Review will occur? Has anyone experienced this issue?

Should I call Amex and see what happened? If I call, will that trigger the financial review?

When I was new here I constantly played with the check spending power to test out my max. I did that for a couple months until I saw that it was a bad idea. Never had anything happen.

You will be fine. It's not supposed to be played with but amex expects people will see what they can charge to a certain extent. Its the whole reason it exists.

If you would like to make a charge for $2000 I would give them a call and ask for authorization for the charge to be granted.

$2000 seems really low for charging power for cards that don't appear to be brand new accounts. Do you not use your cards much ?

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 02:24:21 GMT

I do use my cards in order to qualify for the promotional points. So far, the platinum I have total charged is $2,800 since I opened it. The Rose, a total of $945.

Re: Amex The Check Spending Power tool

Shadowfactor — Fri, 25 Jan 2019 02:32:10 GMT

@Anonymous wrote:
I do use my cards in order to qualify for the promotional points. So far, the platinum I have total charged is $2,800 since I opened it. The Rose, a total of $945.

So the accounts are under 90 days then ?

That could be the reason. I would still call and ask to be approved for the $2000

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 02:35:31 GMT

The platinum was opened in December 18. And rose gold opened in November 18.

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 03:42:40 GMT

@Anonymous wrote:
From what I’ve read, FR will get triggered if you put in increasing amounts to try to find out what your max is

Pretty sure that is a myth, as are many others in the list of things that trigger an FR. What would be the point of that logic? FRs cost time and money for Amex.

Re: Amex The Check Spending Power tool

ridgebackpilot — Fri, 25 Jan 2019 03:50:45 GMT

I've had the AMEX Platinum card since last July. I had never used the "Check Spending" tool so last week I punched in a random number just out of curiosity.

Bam! Instantly approved to spend $35K on the card!

Needless to say, I didn't do that and was rather surprised that my random request was approved. I had been spending more than $5K per month on the card for a while, so perhaps that helped. Clearly, YMMV!

Re: Amex The Check Spending Power tool

NRB525 — Fri, 25 Jan 2019 04:02:33 GMT

What do your Platinum and Gold card statements show as your Pay Over Time limit? That should give an easy indication of how much would be approved.

Mine is $35,000 and from what I have read, that seems rather common. They would love to get 20% APR on $35k

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 04:12:13 GMT

@Anonymous wrote:
@Anonymous wrote:
From what I’ve read, FR will get triggered if you put in increasing amounts to try to find out what your max is

Pretty sure that is a myth, as are many others in the list of things that trigger an FR. What would be the point of that logic? FRs cost time and money for Amex.

The DPs that I have read that suggested it say otherwise, I don’t have personal experience with it.

https://www.google.com/search?q=amex+check+spending+power+financial+review+site:ficoforums.myfico.com

Re: Amex The Check Spending Power tool

Remedios — Fri, 25 Jan 2019 04:59:22 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
From what I’ve read, FR will get triggered if you put in increasing amounts to try to find out what your max is

Pretty sure that is a myth, as are many others in the list of things that trigger an FR. What would be the point of that logic? FRs cost time and money for Amex.
The DPs that I have read that suggested it say otherwise, I don’t have personal experience with it.

https://www.google.com/search?q=amex+check+spending+power+financial+review+site:ficoforums.myfico.com

It's a myth. I think Pooka was summoned on a few occasions to shed some light on it.

However, there has to be an expectation on their end that you're at least planning a purchase vs * Oh lookie, a button, I wonder what it does*

Re: Amex The Check Spending Power tool

UncleB — Fri, 25 Jan 2019 05:18:15 GMT

@Remedios wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
From what I’ve read, FR will get triggered if you put in increasing amounts to try to find out what your max is

Pretty sure that is a myth, as are many others in the list of things that trigger an FR. What would be the point of that logic? FRs cost time and money for Amex.
The DPs that I have read that suggested it say otherwise, I don’t have personal experience with it.

https://www.google.com/search?q=amex+check+spending+power+financial+review+site:ficoforums.myfico.com
It's a myth. I think Pooka was summoned on a few occasions to shed some light on it.

However, there has to be an expectation on their end that you're at least planning a purchase vs * Oh lookie, a button, I wonder what it does*

Yeah, there is at least one video blogger spreading erroneous info about that.

The folks here are quite familiar with how this works and generally give good advice on it.

Re: Amex The Check Spending Power tool

UncleB — Fri, 25 Jan 2019 08:36:04 GMT

@NRB525 wrote:
What do your Platinum and Gold card statements show as your Pay Over Time limit? That should give an easy indication of how much would be approved.

Mine is $35,000 and from what I have read, that seems rather common. They would love to get 20% APR on $35k

Not always, unfortunately.

My POT limit is also $35k, but when I check the 'link' for a $1k purchase I'm told they'll approve a purchase up to $4100, which is usually suitable for me (I don't use my Gold card that often).

From what I understand people who have added POT more recently have POT limits more in-line with what they could reasonably expect to use.

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 05:25:40 GMT

So I take it S***y is like the Voldemort of myFICO?

I did notice that there were multiple results that went there in my first Google search so I did a myFICO site search to remove them.

Re: Amex The Check Spending Power tool

UncleB — Fri, 25 Jan 2019 05:41:53 GMT

@Anonymous wrote:
So I take it S***y is like the Voldemort of myFICO?

I did notice that there were multiple results that went there in my first Google search so I did a myFICO site search to remove them.

I wouldn't say that... he's just really mistaken on some things.

Re: Amex The Check Spending Power tool

redpat — Fri, 25 Jan 2019 05:38:39 GMT

It looks like they have you on a 5k limit.

We don’t know your scores but that could be the problem. They may want to see some payment history before increasing your charge limit.

As others have said, give them a call.

Re: Amex The Check Spending Power tool

Anonymous — Fri, 25 Jan 2019 06:41:09 GMT

FWIW I applied for the Gold last month and used the spending power tool like 30 minutes after approval (didnt even receive the card yet). Entered 10k and it was approved. My POT limit however is only 3k. That was my first AMEX card.