topic Re: Amex maximum exposure????? in Credit Cards

Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 14:17:53 GMT

I just received my JPM Ritz and decided to apply for the last card I wanted, the Blue Card Everyday. It was an instant approval for ugh, $1000.00. The Amex rep I spoke with informed me that amount was authorized because I had $99,000 in available credit. I haven't totalled everything up but I do not think I reached that amount yet. He went on to say Amex will not extend credit when a customer has reached $100,000 of available credit. I'm call BS. What say you my fellow fico'ers?

Re: Amex maximum exposure?????

youngandcreditwrthy — Fri, 27 Sep 2013 14:22:21 GMT

Hahahaha!
This is 100% BS.
I got bce with $100k avail
Then got my last cli to $20k+ with 149k of avail cred then got andw Delta w a $5k + lim with like 160-170k of cred. A good third of that was store credit but nonetheless well in excess of $100k.
Give it 60 days, ask for a 3xcli, then give 6 months and ask for another 3xcli.
You could go from 1k to 3k to 9k. Easy peasy

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 15:48:38 GMT

I think rep just making stuff up. No idea why you got such a low line. How is your Green Card usage and any payment problems (even under 30 days that arent reported)? I assume you will get less than best terms and should get a letter why. Not that I pay that much attention to the reasons as I find AMEX to just laundry list them, but hopefully give you some insight. Have you checked credit reports lately? Could there be a new negative lingering?

In any case, as young pointed out. AMEX's benefit credit wise is the backdating and the consumer/credit frienly CLI policy. Assuming your credit continues to be good, your AMEX should be one of your highest cards in less than 2 years even from 1k.

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 15:52:56 GMT

I think the rep means 100,000k internally in AMEX not for total credit.

In GE we have that wall of 100,000k but it's in internal credit, we don't care about other issuers and your credit lines with them unless you are not paying them as agreed.

Re: Amex maximum exposure?????

youngandcreditwrthy — Fri, 27 Sep 2013 15:56:09 GMT

+1@ vikz

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 16:22:12 GMT

If its internal with Amex then I should have a $99,000 window since I only have a 1k revolver with them. Scores are 740s with multiple new accounts. Credit history since 1987. Go figure. I will just SD it and let it grow with 3X.

Re: Amex maximum exposure?????

09Lexie — Fri, 27 Sep 2013 16:24:29 GMT

Maybe it's the multiple new accounts. The $100k limit is def wrong.

Re: Amex maximum exposure?????

navigatethis12 — Fri, 27 Sep 2013 16:37:39 GMT

Maybe they meant with your income they wouldn't go any more?

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 19:14:32 GMT

@navigatethis12 wrote:
Maybe they meant with your income they wouldn't go any more?

Maybe for your income level and credit history, Amex feels that 100k is the maximum credit exposure you should have for now.

But, it's also possible that the CSR doesnt know what he/she is talking about.

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 19:38:02 GMT

OP doesn't have anywhere near 100k exposure to AMEX. I highly doubt they mean 100k total revolving limits as there are lots of people with that. If it was an issue, we would have heard it much more from others. Even if it was based on his income, we would have heard it more often from others.

The fact is that the OP got a low limit outlier from AMEX which seems strange given his other limits. I can pretty much tell you the quoted reason is BS. Fact is AMEX is heavily computer based for these decisions and "helpful" reps try to justify what the computer says. As to the real cause(s) of the low limit, if the OP would give us a better idea of their credit profile, it may become more obvious. I would however doublecheck recent credit reports to see if some negative cropped up. Or, the OP can relax and not wory about it as AMEX CLI policies can easily make that Amex his highest card in 2 years or less.

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 19:43:04 GMT

No derogs. Stated income 165k. 6 inqs on Exp. I'll look later for my AAoA.

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 19:49:45 GMT

How much were you putting on green? Ever late on green even by one day? When was last time you checked credit report? When did Amex last sp your credit report and do you think you had high reported balances at time?

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 19:53:18 GMT

I have Fico's and Experians version of score watch. Don't use the Green much. Only amassed 5500 points since I received it in May. PIF several times during the month. Never used or needed Pay over Time. Never late.

Re: Amex maximum exposure?????

Anonymous — Fri, 27 Sep 2013 20:18:50 GMT

@mark293 wrote:
I have Fico's and Experians version of score watch. Don't use the Green much. Only amassed 5500 points since I received it in May. PIF several times during the month. Never used or needed Pay over Time. Never late.

Strange and Stranger.. Let me know what the less than best terms letter says or did you get best terms?

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 20:42:01 GMT

Will do crash,thanks.

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 21:07:09 GMT

Wow. Called Amex. I always thought Amex offered a superior level if service. Boy was I wrong. I called and spoke with a nice lady in the EO but all she could do was transfer my call back to India. Nothing against India, but the company is called AMERICAN EXPRESS. Thank God for the customer service offered by CSP, JPM and my local credit unions.

Re: Amex maximum exposure?????

09Lexie — Fri, 27 Sep 2013 21:11:25 GMT

I'm sorry but what were you calling the EO for?

Re: Amex maximum exposure?????

mark293 — Fri, 27 Sep 2013 21:18:31 GMT

Answers. Up the chain works usually works best for me. Unless an executive office is not actually an executive office.

Re: Amex maximum exposure?????

youngandcreditwrthy — Fri, 27 Sep 2013 21:22:54 GMT

Do you have a big mortgage or car loans?
You've gotta have some other big amount of debt for Amex to not want a piece of your $165k income!!!

Re: Amex maximum exposure?????

JonStur — Fri, 27 Sep 2013 21:29:50 GMT

Yea this is insanity... I am curious as others are why their system flagged you...