topic Amex Charge Card Limit in Credit Cards

Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 02:26:51 GMT

Does anyone know how you can go about finding out the limit on Amex charge card? I recently got the Amex gold card, and I know about the “check your spending power” function. The only thing I was able to see was that I have the POT Select and POT Direct options. And that my cash advance is $5000. Not sure how to check what my actual limit is. Any recs would be appreciated.

Re: Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 02:35:42 GMT

Charge cards do not have stated limits, although they have hidden internal limits. The best you can do to see what amount is safe is check spending power, however, click it only when you have major spend on the horizon. After clicking it, it becomes a "don't press this button" for the foreseeable future. Amex might take offense and request some financial information as a result of clicking it too often, like finding out what the ceiling is regularly.

A credit card provides a visible credit limit. Probably better for you if you need or want to know the limit regularly.

Re: Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 02:38:17 GMT

@Anonymous wrote:
Does anyone know how you can go about finding out the limit on Amex charge card? I recently got the Amex gold card, and I know about the “check your spending power” function. The only thing I was able to see was that I have the POT Select and POT Direct options. And that my cash advance is $5000. Not sure how to check what my actual limit is. Any recs would be appreciated.

Welcome to the forums! I would recommend just calling AMEX and inquiring with the CSR. I have done that and they told me what it was.

There is a "Check Your Spending Power" feature, but I wouldn't recommend using it unless you actually intend on spending a specific amount.

Re: Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 02:53:36 GMT

Also, that limit changes over time, so knowing what it is now may not be the same 2 months from now. Market changes, credit report changes, and usage can dictate the limit.

Re: Amex Charge Card Limit

KJinNC — Thu, 23 Jan 2020 03:19:16 GMT

People often express concern that clicking the Check Spending Power button will cause Amex to frown upon them, and maybe it's true, but I check spending power a lot and haven't noticed any negative actions, either in terms of my spending power trending lower, or in terms of preapprovals/approvals for other cards. I kind of think it is harmless. But I could be wrong, as I only know what I have personally experienced. It may be "harmless if _____" or "harmful if _______" and I happen to fall into the first category. My spending power on Gold has fluctuated between $5,000 and $25,000 and seems mainly based on recent spend/payments. I just got the Platinum, and spending power is somewhere between $13k and $15k. So, I doubt your spending power is below $5k, if you are worried about routine smaller expenses. JMO, good luck!

Re: Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 03:23:15 GMT

@KJinNC wrote:
People often express concern that clicking the Check Spending Power button will cause Amex to frown upon them, and maybe it's true, but I check spending power a lot and haven't noticed any negative actions, either in terms of my spending power trending lower, or in terms of preapprovals/approvals for other cards. I kind of think it is harmless. But I could be wrong, as I only know what I have personally experienced. It may be "harmless if _____" or "harmful if _______" and I happen to fall into the first category. JMO, good luck!

It certainly can be profile specific. It might depend on if you spook them when doing so, and could be based on how strong your credit history is.

I have that option on my Amex credit card. Even before any discussion I've been involved in here, I still was reluctant to click it unless needed. Because you are poking some animal, whether it be a dog or a bear, and you just don't know.

Re: Amex Charge Card Limit

PointsBonus — Thu, 23 Jan 2020 03:30:13 GMT

@Anonymous wrote:
Does anyone know how you can go about finding out the limit on Amex charge card? I recently got the Amex gold card, and I know about the “check your spending power” function. The only thing I was able to see was that I have the POT Select and POT Direct options. And that my cash advance is $5000. Not sure how to check what my actual limit is. Any recs would be appreciated.

depening on if you have enrolled in "Pay over time" feature, in this section it give you a "limit" and apr. Now weather the limit is solid or not, I am not sure, but it can give you a "guide" line.

Hope this helps.

Re: Amex Charge Card Limit

M_Smart007 — Thu, 23 Jan 2020 03:30:59 GMT

When someone clicks that spending power button, they "Amex" expect you to spend that amount,

and is deducted from your spending power for a period of time. At least that is how it was explained to Me.

Re: Amex Charge Card Limit

tparks5961 — Thu, 23 Jan 2020 04:14:21 GMT

Call them,

They have a credit department that will know exactly what your limit is.

Now for my rant... My last call to Amex was 2 days ago, and I told the agent I absolutely hate the card... hate it and explained why .. They shut my 3 amex accounts around 1/6 because my balance was up to $10,500.00. I had to submit a payment to the agent on the phone for half of the balance and they released the hold on my accounts... last week, the balance was up to $9,800.00 and by this point, I've given the card to 14 employees.. I clicked the check spending power for as low as $25.00 and it wouldnt go through.. So I called and made a payment so my guys wouldnt be out in the field, try to run the card and can't.

They told me I can prepay on the account.. My account was basically shut down 2 times within a two 2 1/2 week period of time and I told them it was getting old. I'm paying $595 + around $100 ea for 2 gold cards for managers.. green cards are free) its like $800.00/ yr.

When I first got the card and my spending limit was $2500.00, I asked if I can undergo a volutary financial review to get it over with.. The guys at Amex have a generic script about itll grow with you, blah blah blah.. average spend blah blah..

I'm gonna stick with it as long as I can.. but I absolutely hate it right now.

Re: Amex Charge Card Limit

FinStar — Thu, 23 Jan 2020 06:23:29 GMT

@KJinNC wrote:
People often express concern that clicking the Check Spending Power button will cause Amex to frown upon them, and maybe it's true, but I check spending power a lot and haven't noticed any negative actions, either in terms of my spending power trending lower, or in terms of preapprovals/approvals for other cards. I kind of think it is harmless. But I could be wrong, as I only know what I have personally experienced. It may be "harmless if _____" or "harmful if _______" and I happen to fall into the first category. My spending power on Gold has fluctuated between $5,000 and $25,000 and seems mainly based on recent spend/payments. I just got the Platinum, and spending power is somewhere between $13k and $15k. So, I doubt your spending power is below $5k, if you are worried about routine smaller expenses. JMO, good luck!

To gain some additional insight on the "check spending power" feature, please reference the thread below. This information was shared by a former AmEx employee, specifically posts 22, 25 and 30. So, no the tool doesn't necessarily operate in a vacuum when you click on it.

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-The-Check-Spending-Power-tool/m-p/5480016

Re: Amex Charge Card Limit

CreditInspired — Thu, 23 Jan 2020 22:02:55 GMT

@Anonymous wrote:
Charge cards do not have stated limits, although they have hidden internal limits. The best you can do to see what amount is safe is check spending power, however, click it only when you have major spend on the horizon. After clicking it, it becomes a "don't press this button" for the foreseeable future. Amex might take offense and request some financial information as a result of clicking it too often, like finding out what the ceiling is regularly.

A credit card provides a visible credit limit. Probably better for you if you need or want to know the limit regularly.

Ditto. Do not make a habit of checking unless your intention is to actually purchase that high priced item. If you click and then dont purchase anything, AmX may just take a closer look at your history/profile.

Re: Amex Charge Card Limit

CreditInspired — Thu, 23 Jan 2020 12:25:53 GMT

@Anonymous wrote:
Also, that limit changes over time, so knowing what it is now may not be the same 2 months from now. Market changes, credit report changes, and usage can dictate the limit.

Re: Amex Charge Card Limit

Anonymous — Thu, 23 Jan 2020 14:18:54 GMT

thanks for the info regarding the "check spending power" option.

i just got approved for the platinum this week and i used it a few times already just to check.

going to chill on that. haha

Re: Amex Charge Card Limit

iced — Thu, 23 Jan 2020 14:59:04 GMT

If you have a specific larger-than-usual purchase coming up and you want to make sure they'll clear it, the tool or a call is the best approach on the charge cards.

Beyond that, they're NPSL cards, so there's no reason or point in trying to deduce what some imaginary limit may be on the card. If it clears for all your needed purchases, that's what matters in the end. If you can't sleep at night without knowing what your credit limit is on a card, then charge cards may not be right for you.

Re: Amex Charge Card Limit

Trikoret — Thu, 23 Jan 2020 15:19:42 GMT

Doesn't the spending limit change for each month based on purchases and payments? Why can't Amex show the limit for each month? If anyone wants to spend more than their limit, then they Can press that purchase button. The purchase button is still available for other Amex regular credit cards

Re: Amex Charge Card Limit

iced — Thu, 23 Jan 2020 15:53:24 GMT

@Trikoret wrote:
Doesn't the spending limit change for each month based on purchases and payments? Why can't Amex show the limit for each month? If anyone wants to spend more than their limit, then they Can press that purchase button. The purchase button is still available for other Amex regular credit cards

Purchases and payments are the same thing on a charge card. Except when you use the POT feature (which has its own credit limit published to you), whatever you spend is what you pay each month. I charge $5,000, I pay $5,000 at statement. My "limit" is American Express' determination of what they think my ability to pay is in this particular moment, and that can change all the time.

It's adding no value to show me the day-to-say value, but it is removing value. Why? People are self-conscious is why. Similar reason why many private employers don't like to publish what everyone makes.

While knowing what someone's spending power is today changes nothing for the positive, it can make some people angry if it's lowered or not to their personal liking (there is even a recent thread about someone who got mad and dumped their card over this very reason). Why give people a reason to complain or compare themselves to others in an unhealthy manner when it does no good in return?

Re: Amex Charge Card Limit

Trikoret — Thu, 23 Jan 2020 15:57:40 GMT

I've seen some Amex business plat with spending limit showing on their statements. I just gives you a peace of mind. Just certain Visa cards that let you charge over the limit

Re: Amex Charge Card Limit

M_Smart007 — Thu, 23 Jan 2020 16:18:15 GMT

@Trikoret wrote:
I've seen some Amex business plat with spending limit showing on their statements. I just gives you a peace of mind. Just certain Visa cards that let you charge over the limit

I think that would be "Signature" Visa cards or termed " Flexible Spending Credit Card "

Re: Amex Charge Card Limit

imaximous — Thu, 23 Jan 2020 16:31:33 GMT

I know many people swear by their charge cards and they work well for them, but I prefer regular credit cards and know my limits. This way, I'm not crossing fingers so a large purchase won't get declined; or worry about checking spending power, how much I've used the card in x many months, what's my average, highest charges, etc.
IMO, once they added POT, they changed the dynamic of charge cards. Now they're just credit cards that AX can limit as they please.

Re: Amex Charge Card Limit

Anonymous — Fri, 24 Jan 2020 00:52:35 GMT

Well, fair point, but credit card limits can change as well, no?