topic Re: Playing with AMEX check spending limit button in Credit Cards

Playing with AMEX check spending limit button

Anonymous — Mon, 25 Jun 2012 17:32:10 GMT

Got approved for a Zync on thursday last week. Was setting up my acoount this morning, and out of curiosity started entering different amounts in the check spending limit box. Am I playing with fire?

Re: Playing with AMEX check spending limit button

Ron1 — Mon, 25 Jun 2012 17:36:21 GMT

Yes, you do. I have seen people getting F/R messing with button. I never touch that button. You need to purchase something big. Let them know first.

Ron.

Re: Playing with AMEX check spending limit button

CS800 — Mon, 25 Jun 2012 17:37:47 GMT

If you're making a purchase that you think wouldnt go through since your account is new, you can use it. But like you said over using it is a bad idea

Re: Playing with AMEX check spending limit button

Anonymous — Mon, 25 Jun 2012 17:47:45 GMT

I haven't even received the card yet, and don't plan to use it till next month.Was just curious, I even put $1,000,000 Surely, they would know that was just a piss take

I should add that I won't be using it again.

Re: Playing with AMEX check spending limit button

pizzadude — Mon, 25 Jun 2012 17:57:04 GMT

AMEX put the button there for you to use. Honestly I don't understand the paranoia that some people have with it, and AMEX in general.

If you use the button as they intended ~ i.e. checking amounts before a big purchase, or larger amounts than you have previously charged then you have nothing to worry about. If you click on it 5 times a day like the Cap1 monkey button then that is another story.

They actually want you to use the button, it saves them a call to a CSR.

Re: Playing with AMEX check spending limit button

OhioCPA — Mon, 25 Jun 2012 18:00:28 GMT

@pizzadude wrote:

AMEX put the button there for you to use.    Honestly I don't understand the paranoia that some people have with it, and AMEX in general.

If you use the button as they intended ~ i.e. checking amounts before a big purchase, or larger amounts than you have previously charged then you have nothing to worry about.     If you click on it 5 times a day like the Cap1 monkey button then that is another story.

They actually want you to use the button, it saves them a call to a CSR.

Re: Playing with AMEX check spending limit button

webhopper — Mon, 25 Jun 2012 18:08:27 GMT

Use of the button should be based in reality... If you know that in reality you may be inclined to spend a certain amount in a given month, and you have not previously used your card up to that amount, it doesn't hurt to check the spending ability to make sure that your card can handle your plans....

Example, you forecast spending 5k in May.

Previously you have spent only 3k per month.

Check spending ability for 5k

If approved, spend what you had planned using your amex, and spend confidently.

If declined, plan to supplement your amex by using a different card or by paying multiple times in that month.

Re: Playing with AMEX check spending limit button

Anonymous — Mon, 25 Jun 2012 18:31:28 GMT

@pizzadude wrote:

AMEX put the button there for you to use.    Honestly I don't understand the paranoia that some people have with it, and AMEX in general.

If you use the button as they intended ~ i.e. checking amounts before a big purchase, or larger amounts than you have previously charged then you have nothing to worry about.     If you click on it 5 times a day like the Cap1 monkey button then that is another story.

They actually want you to use the button, it saves them a call to a CSR.

There is way too much paranoia about the spending ability button. I've mentioned this before, but I have done everything you're not supposed to do. I've checked my spending ability up to $50K on my charge cards. No, I never had any intention of charging nearly that much. However, that's how I determined my spending ability growth month after month. I basically used that to gauge whether or not my relationship with Amex was getting better. Obviously, now that I'm up to 5 cards with them, I'd say that the strategy has been working. I've never had a single issue with the spending ability button. It's there for a reason!

Re: Playing with AMEX check spending limit button

cashnocredit — Mon, 25 Jun 2012 22:13:06 GMT

I've only used it once to make sure I could place a phone order that was over 20k. The most I'd charged previously was about 1/4 of that so it seemed like a good idea to check ahead. I had the Amex card for a bit less than 6 months at the time.

It's a nice card. I like the way they break down expenses at restaurants (bill and tip) and seperate out AU charges.

Interestingly, they softed TU on the same day , very possibly as some sort of automated process.