Amex Everyday Card

Anonymous · ‎08-18-2018

Back in June I was approved for this card with a $500 limit. I am new to Amex, but was recently reading about finacial reviews they do. While I highly doubt that could occur with me with my small limit, as I have read its occurred with those with very high limits.

I have paid in full over the last 2 moths I have had the card. I was reading I probably shouldn't spend over the limit each month, (ex spend 350 this week, pay it off and then spend 350 next week, pay it off, etc). Is this true? If not, what are some triggers to prevent this from happening? Not that I am worried, I just don't want this inconvience. I am also starting to garden this week as well for the next several months to a year.

Anonymous · ‎08-18-2018

Financial reviews happen when they think you doing something fraudulent like money laundering etc. don't stress yourself or worry too much. I was approved for a small limit like 1000 with them in July. Have used well up to 998 and paid it back. and requested for 3X CLI on 63 days and was approved. All the best.

K-in-Boston · ‎08-18-2018

As long as you’ve reported that your annual income is at least $6,000 you can max that baby out every month (paying off or down prior to statement cut of course so it’s not reported as maxed) without raising any flags about spending more than your income. You have nothing to worry about. Try to triple your credit line at the 61 day mark and again 181 days after that and hopefully you’ll have $4500 on your 8th month of cardmembership.

Anonymous · ‎08-18-2018

Thanks guys. After reading about financial reviews, I thought to myself what did I get myself into with joining Amex, lol. I will try the CLI soon as my 60+ day is coming up soon.

longtimelurker · ‎08-18-2018

@Anonymous wrote:
Thanks guys. After reading about financial reviews, I thought to myself what did I get myself into with joining Amex, lol. I will try the CLI soon as my 60+ day is coming up soon.

As others have said, it's pretty unlikely to happen to you. But, IMO, evaluate the real impact. Suppose the worst case, Amex looks at your account tomorrow and decides that you are a bad actor, and initiates a FR that you fail. They then close your $500 Amex card.

That's really not the end of the world. FRs are only really bad for those that have a big relationship with Amex, and losing it has a large impact. For most of us, it shouldn't be a big worry because a) it's unlikely, and b) most of us would do just fine without an Amex if it came to it.