AmEx Green Approved!

[pizzadude]

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@Anonymous wrote:

Is there a certain soft limit on this card? I've heard some people putting a high balance on the card and AmEx having to FR. I want to stay below the radar for awhile. Also, how does reporting work with current balance/credit limit for this card?

Thanks in advance.

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All AMEX charge cards have an internal spending cap, which fluctuates based on your income, payments, and spending habits.    Financial Reviews ( FR ) are unusual and really aren't anything to worry about for 99% of the AMEX population.

AMEX charge card balances are excluded from your FICO revolving utilization, with the exception of the TU98 FICO version.   Credit Limit field is N/A on your reports.

[Anonymous]

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@Anonymous wrote:

Is there a certain soft limit on this card? I've heard some people putting a high balance on the card and AmEx having to FR. I want to stay below the radar for awhile. Also, how does reporting work with current balance/credit limit for this card?

Thanks in advance.

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Yes, there is a limit on spending, it varies based on your income, credit history, and other factors.  If you use it regularly and responsibly, this limit will grow considerably over time.  It's ok to use the card for normal spending habbits, even at first.  If you plan to make any exceptionally large or unusual purchases early on, it may be a good idea to check your spending ability online or call Amex ahead of time.
Amex does not report a credit limit with there NPSL charge cards, but will report balances.  They are not typically factored into your utilization, but I think the TU FICO model used by this site does factor it using your highest reported balance for the credit limit.

[espnjunkie]

Call them and they will tell you what your starting limit is. It will change over time based on income, known assets, payment history and spending habits. If you are going to make a large purchase of say 3,000.00+ I would definitely call them first. Congrats! I'm really liking the green card. I just opened it a month ago and it has treated me well.

[Anonymous]

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@espnjunkie wrote:

Call them and they will tell you what your starting limit is. It will change over time based on income, known assets, payment history and spending habits. If you are going to make a large purchase of say 3,000.00+ I would definitely call them first. Congrats! I'm really liking the green card. I just opened it a month ago and it has treated me well.

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They never told me. They just ask how much would you like to spend. Dang it, I wanna know how what my internal limit is! All I know is its gone up from last month as I wasnt denied when I hit the same spend as last month when it was. By how much ill never know.

[espnjunkie]

It can change every 30 days the csr said. The longer your payment history the larger your internal limit will become. You can always pre pay and spend over your limit if you call them.

Interesting to note is that every six months AMEX reviews your account and looks at what your average payment amount has been. So it is actually to your benefit to just pay in full once per month rather than multiple times.

[LS2982]

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@Anonymous wrote:

I know I've made several posts contemplating whether or not I should apply for another card. I have had my BofA secured visa for about 6-7 months and just got approved for Barclays rewards a couple of weeks ago. I was dying in front of my computer looking at the "pre-screened" approval screen and just decided the hell with it and pulled the trigger. I got denied but read on the forums about an executive number I can call for recon. I decided to give it a shot and I just got a call back from a very polite and helpful person and they updated my account information and approved me!

I know, I've read many posts about Barclays closing accounts due to new accounts being open after theirs, but I figured now if they close my account then they close it. I'd rather have an AmEx Green anyhow.

I'm definitely staying in the garden for awhile now(1 year+) and I thank this community for it's help and advice every step of the way.

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Congrats!!

[LS2982]

OP, you said you had to recon, what were your denial reasons and how was you able to recon these?? (I've heard AMEX is very hard to recon)

[espnjunkie]

I was surprised to be approved initially after only 5 months of credit history. Amex was apparently willing to overlook the short, but clean, history and definitely placed emphasis on income and assets. Credit score is generally not as important so long as you are 680+.

[Anonymous]

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@LS2982 wrote:

OP, you said you had to recon, what were your denial reasons and how was you able to recon these?? (I've heard AMEX is very hard to recon)

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I honestly didn't even need to state my case for recon. I initially spoke with a rep that pushed my app through to a credit analyzer.

Reasons for denial were

Limited credit history

Too many inqs

Not enough money going through my current card

Credit limit too low($300 reported on my bofa secured)

and a few others...

I basically told the first rep I spoke with that I need an everyday card and that 95% of my charges were through my debit card. I told her I thought I would get approved for the charge card because I've seen many others with limited credit history get it. I basically stated that I applied for this card to get my foot in the door with credit and AmEx and want to use it for my everyday purchases.

I honestly have no idea if any of that information got passed on. The second rep that called me back(the one that had the power to approve me) pretty much updated some account information like my address, confirmed my identity, and then just approved me. I didn't have to make a case toward any of the denial reasons or explain my situation with my credit. She just said, well I was able to approve you and your card will be expedited. I thanked her and hung up.

The recon number on the backdoor number list is wrong by the way. The person I spoke with by calling that number had no authority to do anything except read from his script and read the reasons why I was denied.

[Lexusct]

What's was the right number to call?