Amex Gold arrived

[UncleB]

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@simplynoir wrote:

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@Brian_Earl_Spilner wrote:

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@simplynoir wrote:

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@simplynoir wrote:

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@Brian_Earl_Spilner wrote:

@FinStar I think he was talking about checking the spending limit.

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Didn't Pooka mention that is not the case. I'll try to find the post in question.

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Update: found it.

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-The-Check-Spending-Power-tool/m-p/5480016#M161800...

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It's kind of a yes and no. It shouldn't trigger a FR, but it brings your account to their attention.

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I think this is something AMEX needs to adjust in the future. Personally, the spending ability doesn't need to go away but having something like a dynamic spending limit show how much you can spend on the card at any time needs to somehow be implemented.

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I agree.

As someone who doesn't often use their Gold card I am more comfortable using another card for larger (relatively speaking) purchases since I don't have to bother checking my 'spending ability'. 

A few years ago my Quicksilver was used for a single purchase of just over $8k, and Capital One never flinched.  I feel quite sure that Amex would have been a different story since that's so out-of-pattern for me.

[Brian_Earl_Spilner]

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@simplynoir wrote:

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@Brian_Earl_Spilner wrote:

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@simplynoir wrote:

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@simplynoir wrote:

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@Brian_Earl_Spilner wrote:

@FinStar I think he was talking about checking the spending limit.

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Didn't Pooka mention that is not the case. I'll try to find the post in question.

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Update: found it.

https://ficoforums.myfico.com/t5/Credit-Cards/Amex-The-Check-Spending-Power-tool/m-p/5480016#M161800...

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It's kind of a yes and no. It shouldn't trigger a FR, but it brings your account to their attention.

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I think this is something AMEX needs to adjust in the future. Personally, the spending ability doesn't need to go away but having something like a dynamic spending limit show how much you can spend on the card at any time needs to somehow be implemented.

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I agree. I can see checking if you may need to go over your limit, but I never had to check the limit on my gold back in the day. I just used it as needed. That was one of the selling points, not having a limit.

[wasCB14]

Does Amex take the merchant into account when considering whether to approve either:

- A charge card transaction?

- A credit card transaction beyond the credit limit?

If so, that might make a dynamic limit kind of useless, since it could only be accurate for one category of risk.

[Anonymous]

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@FinStar wrote:

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@Anonymous wrote:

Stop doing that unless you want financial reviews.

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Is there any direct evidence that such patterns actually triggers one?  For as long as I've been an AmEx customer (20+ years) they've never blinked an eye whether a variety of payments were made early on or when balances cycled naturally.  I have yet to see anyone reporting a FR was triggered because of mutliple or early driven payments on their AmEX cards that were not correlated to transactions or activity exceeding reported income during any given cycle.

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according to (i forgot if its asksebby or credit shifu), testing SL with super large amount trigger financial review for him.

[UncleB]

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@Anonymous wrote:

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@FinStar wrote:

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@Anonymous wrote:

Stop doing that unless you want financial reviews.

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Is there any direct evidence that such patterns actually triggers one?  For as long as I've been an AmEx customer (20+ years) they've never blinked an eye whether a variety of payments were made early on or when balances cycled naturally.  I have yet to see anyone reporting a FR was triggered because of mutliple or early driven payments on their AmEX cards that were not correlated to transactions or activity exceeding reported income during any given cycle.

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according to (i forgot if its asksebby or credit shifu), testing SL with super large amount trigger financial review for him.

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I'm not familiar with Credit Shifu (?) but as for Sebby you can safely disregard most of his "advice" regarding Amex, and much of his advice on other products as well.  He is mistaken about a lot of things.

We have someone here who used to work for Amex who has provided a plethora of information, and that's in addition to the collective knowledge of our community.  Doctor of Credit and the FlyerTalk community are also good sources of Amex information and data points.

[Anonymous]

Thanks for the info. Vaguely rememebered someone here worked for Amex. Not sure who that is.

Just curious, anybody actually tested SL with a 10k number?

[simplynoir]

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@wasCB14 wrote:

Does Amex take the merchant into account when considering whether to approve either:

- A charge card transaction?

- A credit card transaction beyond the credit limit?

If so, that might make a dynamic limit kind of useless, since it could only be accurate for one category of risk.

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I would be surprised if they weren't already doing that to begin with.

[simplynoir]

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@Anonymous wrote:

Just curious, anybody actually tested SL with a 10k number?

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?

[wasCB14]

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@simplynoir wrote:

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@wasCB14 wrote:

Does Amex take the merchant into account when considering whether to approve either:

- A charge card transaction?

- A credit card transaction beyond the credit limit?

If so, that might make a dynamic limit kind of useless, since it could only be accurate for one category of risk.

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I would be surprised if they weren't already doing that to begin with.

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Amex let me exceed my nominal CL for quarterly tax payments...I'm not sure if they'd have allowed the same amount for luxury goods.

[wasCB14]

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@Anonymous wrote:

Thanks for the info. Vaguely rememebered someone here worked for Amex. Not sure who that is.

Just curious, anybody actually tested SL with a 10k number?

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Pooka89

Keep in mind a lot of people here have Amex revolvers in the tens of thousands, so a $10k charge isn't a big deal.

The FRs tend to come when people making 5 or 6 figures treat it as a toy and test charges for 8+ figures.