topic Re: Amex Platinum Preset Spending Limit Added in Credit Cards

Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 18:42:29 GMT

I am a bit of a noob in regards to cards. I recently used my Platnium at a business that I am affiliated with. I didn't know that was a no-no. It was going to a Tesla downpayment. So Amex sent me a letter stating that they added a limit to my account. I was just wondering how long does it take to get this limit removed again? Anything that I should focus on (other than not using my card at an affiliated business)? I have two cards with Amex, the other is the Delta Reserve.

Re: Amex Platinum Preset Spending Limit Added

tparks5961 — Mon, 06 Dec 2021 18:57:25 GMT

Up to 1 year. My account had a limit placed on it due to entering into a payment plan during Covid.

My year is up tomorrow 12/7..

I think any Adverse action and depending on the offense, can restrict your account for up to a year.

The most important thing I've learned about amex.. is no matter how much you spend... they don't need my business and could care less if I closed the account.

Good luck..

Re: Amex Platinum Preset Spending Limit Added

pizzadude — Mon, 06 Dec 2021 18:57:55 GMT

I'm not sure there's a specific timeframe if you tripped some internal AMEX risk algorithm, did their letter ask you to provide any financial documentation or other info?

Re: Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 19:01:59 GMT

It did not. I also called to offer up my financial info for review, but it was no dice. Here's the letter:

Dear [redacted]: We are writing to you today because we have assigned a Spending Limit of $[redacted] to your account and we wanted you to be aware of this change as quickly as possible. If at any time your total balance, plus any charges not yet posted to your account, exceeds this Spending Limit, we may decline additional charges. This applies to charges made by you and any additional Card Members on your account. As your total balance, plus any charges not yet posted to your account, approaches this Spending Limit, you can make a payment to reduce this amount so you can make additional charges. You will receive an additional notification via email or mail with the reason(s) for our decision. Sincerely, American Express Account Services

Re: Amex Platinum Preset Spending Limit Added

FinStar — Mon, 06 Dec 2021 19:20:23 GMT

As mentioned upthread, it can be up to a year or even longer -- no specific set timeframe. The process is automatic and manual review will not override the system.

What was the imposed limit? And yes, don't do anything to draw attention or place any questionable transactions on any of your AmEx cards going forward as you're under the microscope for a bit.

Re: Amex Platinum Preset Spending Limit Added

pizzadude — Mon, 06 Dec 2021 19:17:17 GMT

Well in this case there isn't much to do other than being a good AMEX cardmember, paying on time and staying off their radar.

Re: Amex Platinum Preset Spending Limit Added

SoCalGardener — Mon, 06 Dec 2021 20:13:26 GMT

@dirknights wrote:
I am a bit of a noob in regards to cards. I recently used my Platnium at a business that I am affiliated with. I didn't know that was a no-no. It was going to a Tesla downpayment. So Amex sent me a letter stating that they added a limit to my account. I was just wondering how long does it take to get this limit removed again? Anything that I should focus on (other than not using my card at an affiliated business)? I have two cards with Amex, the other is the Delta Reserve.

I don't want to hijack this thread, but I wonder if someone could explain the bolded blue part of the above. By "affiliated with," does that mean that one is an owner, co-owner, investor, etc.? Or can it also mean an employee? This topic came up some months ago, but that had to do with a potentially shady deal of buying parts/products at their place of employment, then reselling them. I'd just like to know how/when is it a no-no to use a CC at a company you're affiliated with? HOW do you have to be affiliated with them in order for it to be a no-no? I'm as sure as I can be that the owners of the furniture store chain where I used to work used their CCs to buy merchandise all the time, as I did, and I'm 100% sure they wouldn't do anything shady!

Re: Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 20:28:23 GMT

I am a co-owner in the business, and that was the issue. When the transaction was declined, I called them up, and they told me the reason. I explained to them that I didn't know that I couldn't do that... thinking about it, I guess it's kind of obvious why they did it... but I was considering it more or less as, a normal transaction. The company that I am affiliated with is a corporation, a completely separate legal entity. It's like if Bill Gates bought a copy of Microsoft Windows on his Amex and got dinged.

Re: Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 20:29:38 GMT

This is unfortunate. I've had my other Amex card for a few years now, I've never had a late payment, charged about almost 100k in the past two years... it's unfortunate that they would put such a limit on my card for such a transaction without any information on how to get it removed.

Re: Amex Platinum Preset Spending Limit Added

FinStar — Mon, 06 Dec 2021 20:41:22 GMT

@dirknights wrote:
This is unfortunate. I've had my other Amex card for a few years now, I've never had a late payment, charged about almost 100k in the past two years... it's unfortunate that they would put such a limit on my card for such a transaction without any information on how to get it removed.

Unfortunately, that's the way of the world with AENB. Especially, if your other business (or affiliation with that entity) shared a merchant account.

Re: Amex Platinum Preset Spending Limit Added

FinStar — Mon, 06 Dec 2021 20:44:33 GMT

@dirknights wrote:
I am a co-owner in the business, and that was the issue. When the transaction was declined, I called them up, and they told me the reason. I explained to them that I didn't know that I couldn't do that... thinking about it, I guess it's kind of obvious why they did it... but I was considering it more or less as, a normal transaction. The company that I am affiliated with is a corporation, a completely separate legal entity. It's like if Bill Gates bought a copy of Microsoft Windows on his Amex and got dinged.

I would assume the merchant account is also under your name on the other business?

Re: Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 20:45:53 GMT

@SoCalGardener wrote:
@dirknights wrote:
I am a bit of a noob in regards to cards. I recently used my Platnium at a business that I am affiliated with. I didn't know that was a no-no. It was going to a Tesla downpayment. So Amex sent me a letter stating that they added a limit to my account. I was just wondering how long does it take to get this limit removed again? Anything that I should focus on (other than not using my card at an affiliated business)? I have two cards with Amex, the other is the Delta Reserve.
I don't want to hijack this thread, but I wonder if someone could explain the bolded blue part of the above. By "affiliated with," does that mean that one is an owner, co-owner, investor, etc.? Or can it also mean an employee? This topic came up some months ago, but that had to do with a potentially shady deal of buying parts/products at their place of employment, then reselling them. I'd just like to know how/when is it a no-no to use a CC at a company you're affiliated with? HOW do you have to be affiliated with them in order for it to be a no-no? I'm as sure as I can be that the owners of the furniture store chain where I used to work used their CCs to buy merchandise all the time, as I did, and I'm 100% sure they wouldn't do anything shady!

Well, it could be that Amex never made the association that their card member(s) were also owners of that furniture store. I believe for an employee it's a non-issue. According to the rep I spoke to in that department, you have to be in a position of control or a position where you would directly benefit from such a transaction.

The number that I called for that department is 1 (800) 230-1289.

Hope that helps.

Re: Amex Platinum Preset Spending Limit Added

dirknights — Mon, 06 Dec 2021 20:58:24 GMT

@FinStar wrote:
@dirknights wrote:
I am a co-owner in the business, and that was the issue. When the transaction was declined, I called them up, and they told me the reason. I explained to them that I didn't know that I couldn't do that... thinking about it, I guess it's kind of obvious why they did it... but I was considering it more or less as, a normal transaction. The company that I am affiliated with is a corporation, a completely separate legal entity. It's like if Bill Gates bought a copy of Microsoft Windows on his Amex and got dinged.
I would assume the merchant account is also under your name on the other business?

Not sure, but I am definitely an authorized party.

Re: Amex Platinum Preset Spending Limit Added

FinStar — Mon, 06 Dec 2021 21:47:15 GMT

@dirknights wrote:
@FinStar wrote:
@dirknights wrote:
I am a co-owner in the business, and that was the issue. When the transaction was declined, I called them up, and they told me the reason. I explained to them that I didn't know that I couldn't do that... thinking about it, I guess it's kind of obvious why they did it... but I was considering it more or less as, a normal transaction. The company that I am affiliated with is a corporation, a completely separate legal entity. It's like if Bill Gates bought a copy of Microsoft Windows on his Amex and got dinged.
I would assume the merchant account is also under your name on the other business?
Not sure, but I am definitely an authorized party.

If that merchant account has your name anywhere on the contract as an authorized signer, then that probably did you in. That definitely is a no-no when it comes to AENB. But, at least now you know, even though it placed your AmEx Platinum card on a NPSL restriction.

The good news, despite the unfortunate event, the adverse action is not permanent. So, the card isn't closed and you'll get the NPSL restriction lifted over time.

Re: Amex Platinum Preset Spending Limit Added

CharlieGardener — Thu, 16 Dec 2021 02:08:21 GMT

I would think, if they allowed one to conduct such transactions it would create a feedback loop exploited by many.

Example: I charge, on my Amex, $300k for a purchase at my own company. I then place the item back in inventory, and withdraw the 300k from my company account, pay my amex bill, and for a mere transaction fee, I have accumulated a massive pile of Amex rewards points. It would be lovely, make them bankrupt immediately, and is likely why they won't allow it. "I didn't know I couldn't do that" is true, but they'll still keep an eye on you.

Re: Amex Platinum Preset Spending Limit Added

Anonymous — Thu, 16 Dec 2021 02:53:13 GMT

@CharlieGardener wrote:
I would think, if they allowed one to conduct such transactions it would create a feedback loop exploited by many.
Example: I charge, on my Amex, $300k for a purchase at my own company. I then place the item back in inventory, and withdraw the 300k from my company account, pay my amex bill, and for a mere transaction fee, I have accumulated a massive pile of Amex rewards points. It would be lovely, make them bankrupt immediately, and is likely why they won't allow it. "I didn't know I couldn't do that" is true, but they'll still keep an eye on you.

That's why my LTL Machine Parts Inc is incorporated in the Cayman Islands, and my name is nowhere on the documents and the company, which I hardly know, has ABSOLUTELY no connection to me (not quite sure why I said "my" in the first part of the sentence, I got confused)

Re: Amex Platinum Preset Spending Limit Added

805orbust — Thu, 16 Dec 2021 04:00:30 GMT

We moved to a new state a few years ago and the Mrs and I were swiping like NO TOMORROW!!! We were over 50% UTI on several cards and probably 30% overall which at the time was about 50 grand. Didn't even pay attention for about 3 months (autopay) and Amex removed my NPSL. That was 2018 and the NPSL didn't come back until January of 2021... crazy. I feel your pain. Patience worked for me basically.

Re: Amex Platinum Preset Spending Limit Added

EricTheCEO — Thu, 14 Jul 2022 07:38:43 GMT

First, I think some commentators have it wrong. The issue with making a purchase at a business with which you have a control relationship is all about credit risk. Its a cash advance in disguise and makes it also look like you are capable of spending, then repaying more money.

AMEX generally allows on an NPSL card 2x to 3x your average monthly spend as a general rule of thumb, which a certain minimum credit limit based on your creditworthiness. So, if you only spend $1,500 a month on the card but you have an 820 FICO and good income, you may have a $25,000 limit. NPSL

cards have an actual limit, more on that in a moment. If you are spending $20K a month on the card, you can make a $50K purchase no problem (again, 2x to 3x monthly spend generally).

IF you run a charge for $50K to a business you own every month, absent AMEX flagging and shutting down your account, the large bogus charge will create an exaggerated NPSL "limit" for your account of $150K. But you don't really have the income and assets to support that credit line, it's surreptitiously based on a bogus charge to your own company. THAT is why AMEX is super sensitive to spend at any business to which you are affiliated. Large bogus charges present credit risk by breaking their NPSL model of 2x to 3x spend. So how does AMEX respond? They credit rate your account and give you a hard cap like the did to the OP.

Suppose the OP put $25,000 on his AMEX via his own business. Funds deposit into his back account (less merchant fee), he pays off the credit card. This single charge would, in theory, "bump" his NPSL credit line calculation by at least $16,000. They also don't know the "why" (because it really makes ZERO sense to make a charge to yourself and pay merchant fees), so the credit algorithms say "he could be having trouble and is in need of cash." So AMEX responds with a hard cap, and considers the possibility you ran the charge and paid the merchant fee because you are desperate for cash, and severely hamstrings your account.

The points are (generally) not the concern, except where there are some bonuses coming from what is known as manufactured spend.

Alright - now I am a BIG spender with AMEX. So let me share with the world some insider information:

1. when I started with AMEX in 2019, I had a limit on my Delta Platinum card. I requested a CLI, denied. I asked for review and escalations teams and all that stuff and was given the "there is nothing we can do this is all automated" speech. I was putting, at the time, what I believed to be significant spend on the card and couldn't get AMEX to budge.

2. I eventually added a NPSL platinum. Started to put some spend on it. Reps would give me the standard song and company script about NPSL and rule of thumb 2x to 3x. This is, generally, actually true. But it's not the whole truth.

3. Next, for my side business, I want to buy a car to rent on TURO. I check the Amex "Will my charge be approved" tool, see I can do $49,999, and I go and buy an explorer with the card. I had to agree to pay the dealer the merchant fee. Some dealers I talked to were firm that they wouldn't take more than $3K or $5K or whatever on credit card. Finally I found a dealer that wanted to make a deal.

4. Repeat the car purchase a couple times over the next 30-60 days as I put more cars in my TURO fleet.

5. Next, I want to pay the IRS $200,000 using my AMEX. The "will my charge be approved" tool only goes to $99,999. So I call AMEX. Magically, a credit team will suddenly discuss my account. The team that I was always told did not exist and had no humans. The guy is super nice and tells me, to the penny, what my "NPSL" is. He says something like "Your account is credit-rated to $120,313 so a $200,000 charge will not be approved. What you can do is wire us the money ahead of time." He then sends me wiring instructions for American Express (with Chase Bank!) to send the funds so I can make the change.

6. I decide I am going to start paying "major" vendors to my company with my AMEX platinum card. One vendor we use provides us with 60 offshore resources and costs $120,000 a month. AMEX approves these charges no issue.

7. I complain that I don't have a black card. Magically, this team that everyone at AMEX says doesn't exist..... they suddenly start chatting with me. My black card is denied for the time being, because "spend is only one element" of their criteria. But they are super nice people.

8. I get a call from American Express asking if I am going to continue to spend at my current level, and "warning" me of sorts that a financial review would be forthcoming. I compliant that I don't have a black card..... because, why not, the Centurion card is cool.

9. I pay marketing data vendors like ZoomInfo $50K, our outside attorneys ($50K) and more payments to the IRS for myself and my partners ($500K) using the card. It's all approved no issue.

10. AMEX pretty much freezes the account. It goes to financial review team. On the app it says my card is suspended, but the card continues to work just fine. So I guess it wasn't really frozen.

11. AMEX underwriting asks for taxes, bank statements, and a bunch of other documentation to substantiate the funds are legal, that I am paying taxes (hey! Most of the spend was to the IRS!!!!!) and that I have the appropriate means to spend. AMEX ensures they fully know who I am, the reasons for the spend, and do AML/KYC/BSA type review. I share also corporate

financial information and tax returns and execute some documents since some of my charges relate to my company (although we have the "corporate cards" too). I agree with AMEX underwriting to remove the NPSL and go with a $250,000 hard limit. I really don't go over that without paying it down. I wouldn't want a $1M bill.

12. I had several other random conversations with their credit team throughout.

13. Still no black card. Continue to complain to AMEX about that via near weekly emails to their Head of Platinum and Centurion products.

14. What I can tell you is that when you start to have serious spend: (a) AMEX wants to know all about you and that you and source of funds are legitimate, credit worthy, tax paying; and (b) many departments (credit, underwriting, finance, etc) that did not exist or never took direct calls before suddenly exist and take direct calls. These higher departments also can tell you on an NPSL card what you are credit rated for. They also have special tools, like underwriting wanted to ensure my account was good to go, and they were able to do a test charge in their system.

Re: Amex Platinum Preset Spending Limit Added

arifjk — Fri, 15 Jul 2022 14:55:45 GMT

@EricTheCEO wrote:
First, I think some commentators have it wrong. The issue with making a purchase at a business with which you have a control relationship is all about credit risk. Its a cash advance in disguise and makes it also look like you are capable of spending, then repaying more money.

AMEX generally allows on an NPSL card 2x to 3x your average monthly spend as a general rule of thumb, which a certain minimum credit limit based on your creditworthiness. So, if you only spend $1,500 a month on the card but you have an 820 FICO and good income, you may have a $25,000 limit. NPSL
cards have an actual limit, more on that in a moment. If you are spending $20K a month on the card, you can make a $50K purchase no problem (again, 2x to 3x monthly spend generally).

IF you run a charge for $50K to a business you own every month, absent AMEX flagging and shutting down your account, the large bogus charge will create an exaggerated NPSL "limit" for your account of $150K. But you don't really have the income and assets to support that credit line, it's surreptitiously based on a bogus charge to your own company. THAT is why AMEX is super sensitive to spend at any business to which you are affiliated. Large bogus charges present credit risk by breaking their NPSL model of 2x to 3x spend. So how does AMEX respond? They credit rate your account and give you a hard cap like the did to the OP.

Suppose the OP put $25,000 on his AMEX via his own business. Funds deposit into his back account (less merchant fee), he pays off the credit card. This single charge would, in theory, "bump" his NPSL credit line calculation by at least $16,000. They also don't know the "why" (because it really makes ZERO sense to make a charge to yourself and pay merchant fees), so the credit algorithms say "he could be having trouble and is in need of cash." So AMEX responds with a hard cap, and considers the possibility you ran the charge and paid the merchant fee because you are desperate for cash, and severely hamstrings your account.

The points are (generally) not the concern, except where there are some bonuses coming from what is known as manufactured spend.

Alright - now I am a BIG spender with AMEX. So let me share with the world some insider information:

1. when I started with AMEX in 2019, I had a limit on my Delta Platinum card. I requested a CLI, denied. I asked for review and escalations teams and all that stuff and was given the "there is nothing we can do this is all automated" speech. I was putting, at the time, what I believed to be significant spend on the card and couldn't get AMEX to budge.

2. I eventually added a NPSL platinum. Started to put some spend on it. Reps would give me the standard song and company script about NPSL and rule of thumb 2x to 3x. This is, generally, actually true. But it's not the whole truth.

3. Next, for my side business, I want to buy a car to rent on TURO. I check the Amex "Will my charge be approved" tool, see I can do $49,999, and I go and buy an explorer with the card. I had to agree to pay the dealer the merchant fee. Some dealers I talked to were firm that they wouldn't take more than $3K or $5K or whatever on credit card. Finally I found a dealer that wanted to make a deal.

4. Repeat the car purchase a couple times over the next 30-60 days as I put more cars in my TURO fleet.

5. Next, I want to pay the IRS $200,000 using my AMEX. The "will my charge be approved" tool only goes to $99,999. So I call AMEX. Magically, a credit team will suddenly discuss my account. The team that I was always told did not exist and had no humans. The guy is super nice and tells me, to the penny, what my "NPSL" is. He says something like "Your account is credit-rated to $120,313 so a $200,000 charge will not be approved. What you can do is wire us the money ahead of time." He then sends me wiring instructions for American Express (with Chase Bank!) to send the funds so I can make the change.

6. I decide I am going to start paying "major" vendors to my company with my AMEX platinum card. One vendor we use provides us with 60 offshore resources and costs $120,000 a month. AMEX approves these charges no issue.

7. I complain that I don't have a black card. Magically, this team that everyone at AMEX says doesn't exist..... they suddenly start chatting with me. My black card is denied for the time being, because "spend is only one element" of their criteria. But they are super nice people.

8. I get a call from American Express asking if I am going to continue to spend at my current level, and "warning" me of sorts that a financial review would be forthcoming. I compliant that I don't have a black card..... because, why not, the Centurion card is cool.

9. I pay marketing data vendors like ZoomInfo $50K, our outside attorneys ($50K) and more payments to the IRS for myself and my partners ($500K) using the card. It's all approved no issue.

10. AMEX pretty much freezes the account. It goes to financial review team. On the app it says my card is suspended, but the card continues to work just fine. So I guess it wasn't really frozen.

11. AMEX underwriting asks for taxes, bank statements, and a bunch of other documentation to substantiate the funds are legal, that I am paying taxes (hey! Most of the spend was to the IRS!!!!!) and that I have the appropriate means to spend. AMEX ensures they fully know who I am, the reasons for the spend, and do AML/KYC/BSA type review. I share also corporate
financial information and tax returns and execute some documents since some of my charges relate to my company (although we have the "corporate cards" too). I agree with AMEX underwriting to remove the NPSL and go with a $250,000 hard limit. I really don't go over that without paying it down. I wouldn't want a $1M bill.

12. I had several other random conversations with their credit team throughout.

13. Still no black card. Continue to complain to AMEX about that via near weekly emails to their Head of Platinum and Centurion products.

14. What I can tell you is that when you start to have serious spend: (a) AMEX wants to know all about you and that you and source of funds are legitimate, credit worthy, tax paying; and (b) many departments (credit, underwriting, finance, etc) that did not exist or never took direct calls before suddenly exist and take direct calls. These higher departments also can tell you on an NPSL card what you are credit rated for. They also have special tools, like underwriting wanted to ensure my account was good to go, and they were able to do a test charge in their system.

Wow. This is execellent info. Thanks for the info.

Re: Amex Platinum Preset Spending Limit Added

dirknights — Fri, 15 Jul 2022 15:12:55 GMT

@EricTheCEO wrote:
First, I think some commentators have it wrong. The issue with making a purchase at a business with which you have a control relationship is all about credit risk. Its a cash advance in disguise and makes it also look like you are capable of spending, then repaying more money.

AMEX generally allows on an NPSL card 2x to 3x your average monthly spend as a general rule of thumb, which a certain minimum credit limit based on your creditworthiness. So, if you only spend $1,500 a month on the card but you have an 820 FICO and good income, you may have a $25,000 limit. NPSL
cards have an actual limit, more on that in a moment. If you are spending $20K a month on the card, you can make a $50K purchase no problem (again, 2x to 3x monthly spend generally).

IF you run a charge for $50K to a business you own every month, absent AMEX flagging and shutting down your account, the large bogus charge will create an exaggerated NPSL "limit" for your account of $150K. But you don't really have the income and assets to support that credit line, it's surreptitiously based on a bogus charge to your own company. THAT is why AMEX is super sensitive to spend at any business to which you are affiliated. Large bogus charges present credit risk by breaking their NPSL model of 2x to 3x spend. So how does AMEX respond? They credit rate your account and give you a hard cap like the did to the OP.

Suppose the OP put $25,000 on his AMEX via his own business. Funds deposit into his back account (less merchant fee), he pays off the credit card. This single charge would, in theory, "bump" his NPSL credit line calculation by at least $16,000. They also don't know the "why" (because it really makes ZERO sense to make a charge to yourself and pay merchant fees), so the credit algorithms say "he could be having trouble and is in need of cash." So AMEX responds with a hard cap, and considers the possibility you ran the charge and paid the merchant fee because you are desperate for cash, and severely hamstrings your account.

The points are (generally) not the concern, except where there are some bonuses coming from what is known as manufactured spend.

Alright - now I am a BIG spender with AMEX. So let me share with the world some insider information:

1. when I started with AMEX in 2019, I had a limit on my Delta Platinum card. I requested a CLI, denied. I asked for review and escalations teams and all that stuff and was given the "there is nothing we can do this is all automated" speech. I was putting, at the time, what I believed to be significant spend on the card and couldn't get AMEX to budge.

2. I eventually added a NPSL platinum. Started to put some spend on it. Reps would give me the standard song and company script about NPSL and rule of thumb 2x to 3x. This is, generally, actually true. But it's not the whole truth.

3. Next, for my side business, I want to buy a car to rent on TURO. I check the Amex "Will my charge be approved" tool, see I can do $49,999, and I go and buy an explorer with the card. I had to agree to pay the dealer the merchant fee. Some dealers I talked to were firm that they wouldn't take more than $3K or $5K or whatever on credit card. Finally I found a dealer that wanted to make a deal.

4. Repeat the car purchase a couple times over the next 30-60 days as I put more cars in my TURO fleet.

5. Next, I want to pay the IRS $200,000 using my AMEX. The "will my charge be approved" tool only goes to $99,999. So I call AMEX. Magically, a credit team will suddenly discuss my account. The team that I was always told did not exist and had no humans. The guy is super nice and tells me, to the penny, what my "NPSL" is. He says something like "Your account is credit-rated to $120,313 so a $200,000 charge will not be approved. What you can do is wire us the money ahead of time." He then sends me wiring instructions for American Express (with Chase Bank!) to send the funds so I can make the change.

6. I decide I am going to start paying "major" vendors to my company with my AMEX platinum card. One vendor we use provides us with 60 offshore resources and costs $120,000 a month. AMEX approves these charges no issue.

7. I complain that I don't have a black card. Magically, this team that everyone at AMEX says doesn't exist..... they suddenly start chatting with me. My black card is denied for the time being, because "spend is only one element" of their criteria. But they are super nice people.

8. I get a call from American Express asking if I am going to continue to spend at my current level, and "warning" me of sorts that a financial review would be forthcoming. I compliant that I don't have a black card..... because, why not, the Centurion card is cool.

9. I pay marketing data vendors like ZoomInfo $50K, our outside attorneys ($50K) and more payments to the IRS for myself and my partners ($500K) using the card. It's all approved no issue.

10. AMEX pretty much freezes the account. It goes to financial review team. On the app it says my card is suspended, but the card continues to work just fine. So I guess it wasn't really frozen.

11. AMEX underwriting asks for taxes, bank statements, and a bunch of other documentation to substantiate the funds are legal, that I am paying taxes (hey! Most of the spend was to the IRS!!!!!) and that I have the appropriate means to spend. AMEX ensures they fully know who I am, the reasons for the spend, and do AML/KYC/BSA type review. I share also corporate
financial information and tax returns and execute some documents since some of my charges relate to my company (although we have the "corporate cards" too). I agree with AMEX underwriting to remove the NPSL and go with a $250,000 hard limit. I really don't go over that without paying it down. I wouldn't want a $1M bill.

12. I had several other random conversations with their credit team throughout.

13. Still no black card. Continue to complain to AMEX about that via near weekly emails to their Head of Platinum and Centurion products.

14. What I can tell you is that when you start to have serious spend: (a) AMEX wants to know all about you and that you and source of funds are legitimate, credit worthy, tax paying; and (b) many departments (credit, underwriting, finance, etc) that did not exist or never took direct calls before suddenly exist and take direct calls. These higher departments also can tell you on an NPSL card what you are credit rated for. They also have special tools, like underwriting wanted to ensure my account was good to go, and they were able to do a test charge in their system.

Awesome information. Thanks. I hope you get the "Black" card soon enough.