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Amex Platinum $500,000+ in spending.

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Frequent Contributor

Re: Amex Platinum $500,000+ in spending.

Lol that's nothing I think the largest limit I've seen on a revolver account was $1,000,000. We have no problem extending credit if we know that you can repay it.
My Exclusive Personal Driver:
American Express Platinum Card for Schwab
The Ritz-Carlton Visa Infinite (when merchants don’t accept AXP because they foolishly claim the fee is too high)

My Exclusive Business Driver:
The Business Platinum Card from American Express
Message 31 of 43
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Moderator

Re: Amex Platinum $500,000+ in spending.


@Pooka89 wrote:
Lol that's nothing I think the largest limit I've seen on a revolver account was $1,000,000. We have no problem extending credit if we know that you can repay it.

I thought Amex had 100k limit on a single revolver even with documentation?  I guess you put that rumor to rest.

Message 32 of 43
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Frequent Contributor

Re: Amex Platinum $500,000+ in spending.

Oh no I don't know where that rumour came from but that's false lol
My Exclusive Personal Driver:
American Express Platinum Card for Schwab
The Ritz-Carlton Visa Infinite (when merchants don’t accept AXP because they foolishly claim the fee is too high)

My Exclusive Business Driver:
The Business Platinum Card from American Express
Message 33 of 43
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Moderator

Re: Amex Platinum $500,000+ in spending.


@Pooka89 wrote:
Oh no I don't know where that rumour came from but that's false lol

Could of sworn I seen that several places.. Regardless as stated you put that to rest.  Thanks

Message 34 of 43
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Valued Contributor

Re: Amex Platinum $500,000+ in spending.

Thanks for the information Pooka. Great having you here!
Message 35 of 43
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Frequent Contributor

Re: Amex Platinum $500,000+ in spending.


@Pooka89 wrote:
Lol that's nothing I think the largest limit I've seen on a revolver account was $1,000,000. We have no problem extending credit if we know that you can repay it.

Wow, just wow. Haha. Thanks for the info Pooka.

Message 36 of 43
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Valued Contributor

Re: Amex Platinum $500,000+ in spending.

Thanks for all of the insight Pooka89!
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 37 of 43
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New Member

Re: Amex Platinum $500,000+ in spending.

 


@driftless wrote:

@milesvscash wrote:

We're in roughly the same position. I spend about $200-250k a month on credit cards (all business), and run about $50k through AMEX. Besides airfare, what else are you buying? Because AMEX purchase protection is very good. If I'm buying anything online, or something that is electronic I always run it through AMEX, no matter what. But I think MR points are nearly worthless. The last time I redeemed any, was well over a year ago, and I have several million stored up. I use the Fine Hotel and Resorts frequently, but it seems like that has gone down hill too, as several hotels I stay at frequently are no longer part of the program. I had the Centurion card at one point, and wouldn't waste the money to upgrade again. As others have mentioned, the NoPSL and the fact that business cards don't show up on your credit report is really nice. 

If I were you, I'd work on improving your score a bit, and get a CapitalOne Venture card with 2x, and move some of your spend to there. 


Which Biz card(s) do you use the most?


I use the Chase Ink card the most - they gave me pretty sizable limits and UR points have far more value in my experience. The banker I deal with asked for a sizable credit limit on it and was able to get it without any real work. I believe they give up to $75k without any paperwork.

FICO (Discover): 806
AMEX Gold (Personal), AMEX Platinum (Business), Chase Sapphire, Chase Sapphire Reserve, Chase Ink Plus, Chase Freedom Unlimited, Discover More, Citi DoubleCash, Fidelity Rewards, Capital One Venture, Capital One Spark, USAA World Rewards, USAA AMEX
Message 38 of 43
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New Member

Re: Amex Platinum $500,000+ in spending.


@Irish80 wrote:

There are a lot better cards than the Venture.  It's only upside is the sign up bonus.  After that it's a 2% cashback card with limited redemption.  OP can do far better than that card.  It certainly isnt a travel card or even close to one.



For travel, the venture card points are really nice. There are other personal cards that I use that have good redemption (Citi DC, Fidelity) on cash back. I now have over $400k in limits though, and it's far too much work to chase cards with bonus categories. What cards do you think are better, excluding AMEX Plat, without chasing bonus categories?

I do use a lot of personal cards for my own business charges - dedicated cards. I'll charge all the way up to the card limit, and day before statement  cut I pay the balance in full - never revolving a balance. The one exception is Fidelity - I learned my lesson.

FICO (Discover): 806
AMEX Gold (Personal), AMEX Platinum (Business), Chase Sapphire, Chase Sapphire Reserve, Chase Ink Plus, Chase Freedom Unlimited, Discover More, Citi DoubleCash, Fidelity Rewards, Capital One Venture, Capital One Spark, USAA World Rewards, USAA AMEX
Message 39 of 43
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Valued Contributor

Re: Amex Platinum $500,000+ in spending.


@milesvscash wrote:

 


@driftless wrote:

@milesvscash wrote:

We're in roughly the same position. I spend about $200-250k a month on credit cards (all business), and run about $50k through AMEX. Besides airfare, what else are you buying? Because AMEX purchase protection is very good. If I'm buying anything online, or something that is electronic I always run it through AMEX, no matter what. But I think MR points are nearly worthless. The last time I redeemed any, was well over a year ago, and I have several million stored up. I use the Fine Hotel and Resorts frequently, but it seems like that has gone down hill too, as several hotels I stay at frequently are no longer part of the program. I had the Centurion card at one point, and wouldn't waste the money to upgrade again. As others have mentioned, the NoPSL and the fact that business cards don't show up on your credit report is really nice. 

If I were you, I'd work on improving your score a bit, and get a CapitalOne Venture card with 2x, and move some of your spend to there. 


Which Biz card(s) do you use the most?


I use the Chase Ink card the most - they gave me pretty sizable limits and UR points have far more value in my experience. The banker I deal with asked for a sizable credit limit on it and was able to get it without any real work. I believe they give up to $75k without any paperwork.


Thank you.
CSR | Amex Platinum | EDP | QS (2)
Amex Blue Business Plus
Message 40 of 43
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