Amex question

[creditrizz]

Turn off Pay Over Time on your Amex charge cards for a while before applying for additional amex cards or asking for more credit.  It reduces their overall credit exposure to you.  I turned off my POT on the biz plat since I didn't plan on using it anyway, and then applied for BCE maybe 9 months after getting the plat.  They started it at 35k which is pretty high for a no-AF card.  Higher than Chase started my CSR at which has an AF.  Both lenders have business credit exposure to me.

[FlaDude]

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@FicoMike0 wrote:

 They appear to be total exposure sensitive.

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The statement above reflects my experience. A few years ago I was thinking of closing my ED card so moved most of the CL to other cards. I left 1.3 k, and asked for 3x CLI last year and they only bumped me to 2.5k I tried again after 90 days and was denied. My total CL with Amex is about 60k. I really don't need more, but it's slightly annoying that it's my only card under 10k. I'll probably move some other CL to it to get it to 10k.

[Cblough93]

so if total exposure is the name of the game. Cancelling my gold card will help me get increases with my BCP. Since they will be extending me less total credit without the gold card. This was always my plan anyways, but i just cant do it yet because i dont want to risk pissing them off, labeling me as a churner, and clawing back the 90,000 points i got for the gold card SUB

[FlaDude]

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@Cblough93 wrote:

Cancelling my gold card will help me get increases with my BCP. 

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Maybe, although I do have a Gold card that isn't included in the 60k CL

[Thomas_Thumb]

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@FlaDude wrote:

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@Cblough93 wrote:

Cancelling my gold card will help me get increases with my BCP. 

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Maybe, although I do have a Gold card that isn't included in the 60k CL

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@FlaDude 

I thought all AMEX green/gold/platinum cards were npsl with a hidden soft limit and a POT limit. When you say your gold card does not factor into total exposure are you referring to the POT amount? If so, would turning off POT make a difference?

All I know is my green card $35k POT limit and $50k+ hidden limit don't factor into total available credit on my CRA reports. The AMEX adds $0.

Are some green/gold/platinum cards issued with hard CLs that subsequently graduate to npsl status?

[FlaDude]

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@Thomas_Thumb wrote:

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@FlaDude wrote:

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@Cblough93 wrote:

Cancelling my gold card will help me get increases with my BCP. 

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Maybe, although I do have a Gold card that isn't included in the 60k CL

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@FlaDude 

I thought all AMEX green/gold/platinum cards were npsl with a hidden soft limit and a POT limit. When you say your gold card does not factor into total exposure are you referring to the POT amount? If so, would turning off POT make a difference?

All I know is my green card $35k POT limit and $50k+ hidden limit don't factor into total available credit on my CRA reports. The AMEX adds $0.

Are some green/gold/platinum cards issued with hard CLs that subsequently graduate to npsl status?

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@Thomas_Thumb I hae no idea if Amex factors charge card soft limits or POT limit in how much total CL to grant, I was replying to @Cblough93's theory that it does. My POT limit is 35k, but POT is disabled. I don't know what my soft limit is, but I did a "check spending power" for $40k and was approved. In any case, it seems that Amex has granted me as much total CL as they are going to for the short term, which is about $60k.

As far as charge cards starting with hard CL, I don't know that either. I got the Gold card over 30 years ago and it was NPSL from the start, although they did cut me off at one point when I started traveling for work and spending a lot more on the card than I had previously (in their parlance, "outside my normal spending pattern").

[HRPokerJT]

What are the perks of having an Amex card? I know people seem to like them but I have never looked into them enough to know why people seem to like them so much.

[Cblough93]

there's a couple main perks

1) they may be a little lower than other cards when you first get them, but you can triple your credit limit every 3 months potentially. its rare people are denied the 3x increase. many people have went from 1,000 limit to 27,000 limit in a year. 

2) their protections are unmatched, any dispute with them is pretty much an automatic win in your favor unless its blatantly a lie. the travel, purchase, and return protections. damage and theft protections. 

3) a lot of people love their customer service, i think its def one of the better ones out there, but i like chases better personally. 

[dfwxjer]

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@Cblough93 wrote:

there's a couple main perks

1) they may be a little lower than other cards when you first get them, but you can triple your credit limit every 3 months potentially. its rare people are denied the 3x increase. many people have went from 1,000 limit to 27,000 limit in a year. 

2) their protections are unmatched, any dispute with them is pretty much an automatic win in your favor unless its blatantly a lie. the travel, purchase, and return protections. damage and theft protections. 

3) a lot of people love their customer service, i think its def one of the better ones out there, but i like chases better personally. 

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I too prefer Chase these days. Amex customer service has fallen way off from what it used to be. Back when our cards still said "Platinum" the customer service line for that card was great. 

Amex revolvers have their benefits spelled out pretty clearly, but it's the npsl charge cards that really add value. They have the most transfer partners, the transfer bonuses  used to be very common, the aux perks are fantastic, the various automatic statuses with hotels/rental cars are beneficial if one doesn't already have status, the automatic credits are fairly easy to use and large in value, the FHR program is a great benefit and adds value each time we stay, and who could forget the lounge access?