AMEX credit limit decrease

[GApeachy]

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@Anonymous wrote:

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@GApeachy wrote:

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@GApeachy wrote:

@Stellar007 wrote:

my AMEX Business card that they whacked the limit to $5,000! Once I tried to use it for a $10k transaction and it declined the charge and I got a call from their customer service trying to accuse me of doing something wrong! Thank goodness I have a Discover card with a $17k limit and that $10k was no problem for them. 

Is this not a cause for concern?  A possible cause?

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Okay, last time I will ask.....doesn't look like OP will have the answer for me but would still want to know if you ran a 10k transaction on a 5k limit and if so, did you "FIRST" try the "Spending Power" option provided via telephone and/or online tool?

I'd like to know as I am a new business customer and you stated you were accused by Amex of wrong doing.........this is concerning and I'd like to understand the process.  

ONLY IF YOU WILL ANSWER THE ? x 4

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Sorry I could have sworn I answered this in another response to another member but I my credit limit was unlimited when I made the $10k purchase. My CL was lowered to $5,000 after they declined it.

I have never taken a cash advance from AMEX or ANY other of my cards... I have plenty of cash, so much I have to deposit it often so there is no need for a cash advance. Lot's of cash money in my line of work. 

My advice to you is this, don't use your AMEX Business for a large purchase because once they get wind of the fact you make large transaction payments they will think up a reason to reduce your no-pre set limit.. 

Anyone in here every pop and AMEX Platinum for over $10k on a single transaction? What happend? Be honest! 

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I was wondering if high $ transactions (like up to the "spending power") without a quick payoff could be the nail in a coffin. (mine, yours, anyone)  As I'm new, been playing around with that tool, thinking.........not touching but was wondering if that was the beginning of the end for you as far as the biz relationship on that Plat.

[PutThatMoneyOnTheTable]

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@Remedios wrote:

All I want to do now is apply for Amex 🤷‍♀️

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Likewise. I can't see the LIGHT

[simplynoir]

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@K-in-Boston wrote:

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@Anonymous wrote:

Sorry I could have sworn I answered this in another response to another member but I my credit limit was unlimited when I made the $10k purchase. My CL was lowered to $5,000 after they declined it.

I have never taken a cash advance from AMEX or ANY other of my cards... I have plenty of cash, so much I have to deposit it often so there is no need for a cash advance. Lot's of cash money in my line of work. 

My advice to you is this, don't use your AMEX Business for a large purchase because once they get wind of the fact you make large transaction payments they will think up a reason to reduce your no-pre set limit.. 

Anyone in here every pop and AMEX Platinum for over $10k on a single transaction? What happend? Be honest! 

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I have made purchases in excess of $10,000 on my own personal Amex charge cards numerous times over the past 17 years or so.  I have also carried combined Pay Over Time balances on those two cards in excess of $50,000 for prolonged periods of time.

I regularly make $10-$50,000 purchases on the Business Platinum card that I am an authorized user on at work.

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FWIW if you're actually wanting to listen OP I can report the same. Two biz platinum cards and one reguarly sees $10k+ charges because we're purchasing overhead and pharmacueticals for my fiancee's stores, other for services and travel for my work. No issues in almost two years on lady's card and 10+ years on other

[Anonymous]

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@simplynoir wrote:

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@Anonymous wrote:

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Look at you talking down to me, like you have half the cards that I carry! LOL

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And that there is why the people trying to help don't want to anymore

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I am just trying to figure out where exactly I was asking people for help? I was more or less sharing my experience. 

[Anonymous]

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FWIW if you're actually wanting to listen OP I can report the same. Two biz platinum cards and one reguarly sees $10k+ charges because we're purchasing overhead and pharmacueticals for my fiancee's stores, other for services and travel for my work. No issues in almost two years on lady's card and 10+ years on other

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I don't think you get it... The culmination of several small or somewhat large purchases that total $10k+ charges is not the same as one huge $10k hit in a single transaction. Not many will take an AMEX for $10k+ due to the fee's, I do... but I am not everyone.

Yes that is right, I not only pay with AMEX, I also accept AMEX. 

[simplynoir]

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@Anonymous wrote:

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@simplynoir wrote:

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@Anonymous wrote:

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Look at you talking down to me, like you have half the cards that I carry! LOL

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And that there is why the people trying to help don't want to anymore

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I am just trying to figure out where exactly I was asking people for help? I was more or less sharing my experience. 

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By being demeaning to another poster? And please don't insult my intelligence on saying you weren't because your "LOL" there at the end sealed the deal

[K-in-Boston]

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@Anonymous wrote:

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FWIW if you're actually wanting to listen OP I can report the same. Two biz platinum cards and one reguarly sees $10k+ charges because we're purchasing overhead and pharmacueticals for my fiancee's stores, other for services and travel for my work. No issues in almost two years on lady's card and 10+ years on other

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I don't think you get it... The culmination of several small or somewhat large purchases that total $10k+ charges is not the same as one huge $10k hit in a single transaction. Not many will take an AMEX for $10k+ due to the fee's, I do... but I am not everyone.

Yes that is right, I not only pay with AMEX, I also accept AMEX. 

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Neither @simplynoir  nor myself mentioned charges that added up to $10k.  We were both specifically discussing transactions above $10k (and I charge about $52k in one transaction with one vendor on an annual basis).  Amex fees being higher is often a myth; it will depend on the credit card merchant agreement.  Generally speaking, Amex fees will be lower than those for Visa Signature and Visa Infinite products for many merchant.

[simplynoir]

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@Anonymous wrote:

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FWIW if you're actually wanting to listen OP I can report the same. Two biz platinum cards and one reguarly sees $10k+ charges because we're purchasing overhead and pharmacueticals for my fiancee's stores, other for services and travel for my work. No issues in almost two years on lady's card and 10+ years on other

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I don't think you get it... The culmination of several small or somewhat large purchases that total $10k+ charges is not the same as one huge $10k hit in a single transaction. Not many will take an AMEX for $10k+ due to the fee's, I do... but I am not everyone.

Yes that is right, I not only pay with AMEX, I also accept AMEX. 

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I do get it. I as well as @K-in-Boston gave datapoints on multiple instances of charges that exceeded $10k+ many times and you're now trying to skew the facts to fit your narrative

[Anonymous]

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@Anonymous wrote:

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Lots of cash. Lots of credit cards. We get it, you're a high roller. 

My question is then, why are you having such a meltdown?  Take those stacks of cash and pay off the AMEX cards. Why in the world would you be carrying a balance if you have so much cash you're going to the bank 6x a day or whatever?

And a $10k transaction on an AMEX charge card.....approved with no issues at the time and AMEX still thinks I'm the coolest cat around today too. 

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That's very flattering but not exactly how I wanted to come across.. What I am saying is I haven't had any need for cash advances in the past. The payment APR for them is outrageous so I never considered it... that is not to say that I wouldn't if there was a need.

[Remedios]

If it's any consolation, they wont let me make $10K charge, either