@PaHi wrote:So, I went ahead and opened a Platinum AMEX--now I'm so confused. It doesn't have a limit and I'm always afraid to use it, because I never know if "this will be the time I've hit my limit!" lol Is there some secret way to stay ahead of your denials? (other than checking that silly spending power button)...
Also; I would rather have an AMEX WITH A LIMIT! Can I open one now? Or must I wait X amount of weeks/months due to just opening this AMEX?
Note: This is my first card with AMEX. So I'm new with them.
I've been paying the balance the MOMENT one posts. I've already paid about $2,000 in just 4 days. So hopefully that helps...
Also; They said my POT limit is $6,000--1) How do I use it? 2) Does it report to the CB's with a limit & balance? 3) Does it raise periodically?
Thank you!!!
As a side note: I opened a Citi Diamond Card & a 2nd Disco card, too. Regret even opening them! Citi gave me $500 and Disco gave me $2,000... Now I'm debating if I want to battle getting them up to normal limits, or just immediately close them out... Any thoughts? Any suggestions on how to get them QUICKLY to useable limits? Especially that $500 Citi Diamond... How soon can I request a CLI on it?
Thanks again!
1. Yes there wouldn't be any problem with your applying now for a regular Amex credit card.
2. I've never used the POT feature so I don't know how it works; things like that make me nervous, which is why I never used it.
3. From what I've read in this forum your POT limit is probably similar to your internal spending limit on the platinum card, so you can use that as your guideline.
4. There's no reason to close out either the Disco or the Citi Diamond cards. In my book the Diamond card is junky, but I would try to pc it to something more useful, like the Custom Cash, the Double Cash, or the Premier card.
5. Your dislike for the uncertainty that attaches to the platinum card is one of the primary reasons I no longer have any Amex charge cards. I really don't like having to guess. I once used my Gold card for a $3k veterinary bill, and Amex refused the charge because it was bigger than my normal expenditure on the card. I'm also not fond of outsized annual fees.
If your POT limit is $6k, you should have no concerns about hitting your limit for at least the first $6k. Just use your card as you wished to. If there is an issue,they will tell you.
I spend over my POT randomly with no issues and PIF. I have not had any charge denied.
@PaHi wrote:Have you saw any POT's above $35,000--or is that their ceiling on those?
My friend has a $50k POT and spends like $2500 per month on it.
You really should do more research before going and applying for a card. Not trying to be rude/mean/condescending, just saying it could save you a lot of time and headaches later down the road. That said, if you end up not liking the Platinum card, you can always cancel/downgrade to a Gold or Green card after a year. I wouldn't cancel/downgrade in less than a year though if you value your relationship with Amex. They wouldn't like that.
