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@K-in-Boston wrote:
You cannot ask for a higher POT limit. Amex determines it at their own discretion. Being shut down when approaching the limit is going to depend on a lot of factors. This fool (me) carried close to the $35k limit on TWO charge cards at the ridiculous APR of 13-14% for close to a decade without being shut down. That was much better than some of the other APRs at the time.
Is one's POT limit somewhat of an indicator of what one's charge Spending Power is ? I only have a $3,000K POT limit on my new Gold Card, but I have no idea of what my charge Spending Power is out of the gate. I haven't made my first purchase with the card yet. I have been going back & foward in my mind as to whether to try that "Spending Power" tool on the website, but I am still leery of drawing a card freeze and FR...
@Anonymous wrote:
@K-in-Boston wrote:
You cannot ask for a higher POT limit. Amex determines it at their own discretion. Being shut down when approaching the limit is going to depend on a lot of factors. This fool (me) carried close to the $35k limit on TWO charge cards at the ridiculous APR of 13-14% for close to a decade without being shut down. That was much better than some of the other APRs at the time.
Is one's POT limit somewhat of an indicator of what one's charge Spending Power is ? I only have a $3,000K POT limit on my new Gold Card, but I have no idea of what my charge Spending Power is out of the gate. I haven't made my first purchase with the card yet. I have been going back & foward in my mind as to whether to try that "Spending Power" tool on the website, but I am still leery of drawing a card freeze and FR...
No, they aren't related at all.
My own POT limit is $35k, but I have no doubt that Amex would cut me off before I even got to a fraction of that.
At the time my POT was added $35k seemed to be the 'default' amount. It may be that more recently Amex is assigning POT limits more in-line with what a cardholder would actually need (and be allowed to use).
I agree they're not related at all. My POT limits are $35,000 on both Gold and Platinum. There's no doubt in my mind that I could charge MUCH more than that in a month if I were so inclined.