topic Re: AMEX NPSL Question in Credit Cards

AMEX NPSL Question

pat0812 — Sun, 18 Nov 2012 15:32:00 GMT

Hello,

I was just approved for an AMEX PR GOLD

Does anyone knows what is the internal limit you start with ?

I tried the spending ability button online on my account for $1000 and $700 and both times it didn't approve that amount

What is the best way to increase this limit ? Max the card and pay off in the middle of the statement cycle and heavy use it again? or just heavy use it once and pay it once a month?

Re: AMEX NPSL Question

Anonymous — Sun, 18 Nov 2012 15:45:55 GMT

Just use the card as you normally would. If you naturally run into a declined charge, then pay off the card in full. I think it's best to start using the card like you really intend to as soon as you get it, so Amex can quickly gauge what type of customer you are. After a few months, you won't have to worry about your internal limit unless making an abnormally large purchase.

Re: AMEX NPSL Question

armbenderc — Sun, 18 Nov 2012 15:54:32 GMT

@Anonymous wrote:
Just use the card as you normally would. If you naturally run into a declined charge, then pay off the card in full. I think it's best to start using the card like you really intend to as soon as you get it, so Amex can quickly gauge what type of customer you are. After a few months, you won't have to worry about your internal limit unless making an abnormally large purchase.

+1 I think Koop10010 is correct. I would start off slow first few months.

1st month: spend 500-1k

2nd month: spend 1k-1.5k

3rd month: spend 1.5k-2k

4th month: spend your normal routine.

Sorry if the spending scale is wrong for you. It's just an example.

I paid my bi-weekly/or before the statement cut

Re: AMEX NPSL Question

webhopper — Sun, 18 Nov 2012 15:56:10 GMT

Sounds like there is a flag on your account for some reason. This happened to me when my zync was brand new. You may have to call and verify that its you. You can ask about your internal limit at that time.

Re: AMEX NPSL Question

Anonymous — Sun, 18 Nov 2012 16:48:35 GMT

you said you were just approved-do you actually have the card yet? I think AMEX likes to cap spending ability on charge cards until they are activated.

Re: AMEX NPSL Question

Duncanrr — Sun, 18 Nov 2012 17:49:33 GMT

@Anonymous wrote:
you said you were just approved-do you actually have the card yet? I think AMEX likes to cap spending ability on charge cards until they are activated.

+1 if the account is brand new you maybe under the temporary internal limit until you activate the card. I used 1.1k first month, 5.5k the second month and I just started the third and have 500 on it right now. If you plan on large purchase early in history I strongly suggest calling it in prior to running charge. I did this the second month and no problems.

Re: AMEX NPSL Question

cashnocredit — Sun, 18 Nov 2012 20:32:56 GMT

I charged almost 10k the first month I had my Amex but prepaid the bill after about 6k was on the balance,

Several months later I needed to make a charge over 20k and, for the first time, checked my spending limit first. While it was approved I noticed they softed TU (and possibly others) on the same day I checked SL.

Hard to figure out exactly what they do to set spending limit but I suspect they may well pull from CRAs real time for higher charges. No idea what they are looking for but it appears highly automated.

Since then I haven't a reason to charge larger amounts but just use it. I also carry backup just in case.

Re: AMEX NPSL Question

Anonymous — Sun, 18 Nov 2012 22:22:37 GMT

I have BCP, and was surprised to see the link to "Check your Spending Ability" on a credit card (My assumption is that I can spend up to my CL, maybe the check allows me to see if I can go above). So I just tried with a made up figure, fortunately only 5% of my CL. To my surprise once it is approved, my "Available Credit" is reduced by that much. So I guess it's like a Pending Charge, so I have learnt not to do that again!

Re: AMEX NPSL Question

EmpressLuv — Mon, 19 Nov 2012 14:35:00 GMT

I recently got mine in July and a charge of mine was declined with a call in message..the girl told me my internal limit was $2500 since it is new and they had to gauge my spending habit and payment history before it can be higher...so i said ok no problem. I added my husband on it the following month just telling him that together let's try not to spend $2500 and we have kept it so, then last month we both had car issues and had to do some maintenance. We ran up to $3600+ on it and everything was fine....but from July to now we have always paid as soon as the statement is cut so i don't know if that is why the internal limit has increased.

Re: AMEX NPSL Question

jamesdwi — Mon, 19 Nov 2012 14:41:50 GMT

If you were approved for NPSL, usually your internal limit starts at least 1k, I have tested over 3k on mine, never had a charge declined, But the golden rule is never spend more than your monthly income at least not in the first few months. Charging more than your monthly income is a trigger for an FR.

Re: AMEX NPSL Question

TheConductor — Mon, 19 Nov 2012 15:33:14 GMT

There's no specific amount the limit starts at initially. I checked mine for $4000 the day I activated my card and got a yes, before running a single charge through it.

Others have seen their internal limit start lower than that. Others have seen higher starting limits. It all depends.

AmEx seems to have a formula that sets it based on your income, reported assets, credit history, and who knows what else. The number can differ from one borrower to the next.

I will say that since $4000 is my likely max monthly spend (barring an unusually large purchase), I did not "ease into" using the card at all. I put the vast majority of my regular spending through it from day one, and have seen no AA.

In your case, I would use the card as much as I can, paying in full when necessary to reset the balance. I would just avoid making lots of little payments. Use it normally, make a big payment, lather rinse repeat.

Re: AMEX NPSL Question

Anonymous — Mon, 19 Nov 2012 16:50:22 GMT

@TheConductor wrote:
There's no specific amount the limit starts at initially. I checked mine for $4000 the day I activated my card and got a yes, before running a single charge through it.

Others have seen their internal limit start lower than that. Others have seen higher starting limits. It all depends.

AmEx seems to have a formula that sets it based on your income, reported assets, credit history, and who knows what else. The number can differ from one borrower to the next.

I will say that since $4000 is my likely max monthly spend (barring an unusually large purchase), I did not "ease into" using the card at all. I put the vast majority of my regular spending through it from day one, and have seen no AA.

In your case, I would use the card as much as I can, paying in full when necessary to reset the balance. I would just avoid making lots of little payments. Use it normally, make a big payment, lather rinse repeat.

I'm in the same category, I didn't report any assets... but when i got it I ran it up to about 500.00 and check and it said a 2k purchase would be approved...

thsi is all i'm likely to need at one time, any of my expenses will be air travel or hotels for work that get reimbursed...