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Schwab Platinum approval + POT limit

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Contributor

Schwab Platinum approval + POT limit

Similar to other users here, the Schwab Plat was one of my goal cards. It feels weird having applied for it during a year where travel is effectively shut down, but I plan on holding it longer than one year anyways.

 

Given the apparent "ease" of being approved for charge cards, especially after having other AMEX products, I won't post a DP. I will ask everyone however, any ideas why my POT limit is set at $35k? That feels way too high so I'm expecting that to be lowered after I'm finished hitting the SUB. Is it just a Plat thing?

 

 


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15 REPLIES 15
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Super Contributor

Re: Schwab Platinum approval + POT limit

Congratulations on your approval!
Message 2 of 16
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Valued Contributor

Re: Schwab Platinum approval + POT limit

congrats on your approval!!!




Message 3 of 16
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Valued Contributor

Re: Schwab Platinum approval + POT limit

Congratulations on your approval! 👍





My Cards:






Profile Type: New, Thick, 100% Clean
INQ's: EQ: 0 TU: 1 EX: 3 (last 12 mo.)
Recent Accounts: 4 (last 24 mo.)
Total CL: 28.95k Util. 3% AAoA: 1yr, 8mo.
AoOA: 2 yrs, 8 mo. AoYA: 0 mo. 100% PIF.





myFICO Member since: July 21, 2018 | Joined Community: Aug. 17, 2018 | Starting Scores: EQ: 716 TU: 738 EX: 698
Message 4 of 16
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Established Contributor

Re: Schwab Platinum approval + POT limit

Congratulations!




Starting score - May 2018

Feb 2020

AAoA - 7 months
Message 5 of 16
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Community Leader
Mega Contributor

Re: Schwab Platinum approval + POT limit


@icednightpaper wrote:

Similar to other users here, the Schwab Plat was one of my goal cards. It feels weird having applied for it during a year where travel is effectively shut down, but I plan on holding it longer than one year anyways.

 

Given the apparent "ease" of being approved for charge cards, especially after having other AMEX products, I won't post a DP. I will ask everyone however, any ideas why my POT limit is set at $35k? That feels way too high so I'm expecting that to be lowered after I'm finished hitting the SUB. Is it just a Plat thing?

 

 


I dunno but a 35k POT limit seems HIGH to me😁

Message 6 of 16
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Valued Contributor

Re: Schwab Platinum approval + POT limit

Congrats!!  I'm not the expert here but, I think it's commonly known that the initial acceptance is based off a solid profile, income, history points we don't know, etc...    and the POT amount is fluid and always susceptable to adjustment at anytime.


Message 7 of 16
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Valued Contributor

Re: Schwab Platinum approval + POT limit

Congratulations on your approval!!!



Message 8 of 16
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Community Leader
Senior Contributor

Re: Schwab Platinum approval + POT limit

Congrats and from DPs I've seen here, $35k seems pretty common for Plat POT. It's likely they'd shut off spending long before you had that much in there but having that as a limit does not seem to be at all rare.



Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | GHS Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 9 of 16
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Mega Contributor

Re: Schwab Platinum approval + POT limit

Congratulations on your approval!..

Message 10 of 16
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