Amex Platinum CLI

[moneylovesspeed]

My initial credit limit with my Amex Platinum was $7,500. I was disappointed, because with $550 annual fee and FICO in the mid 700's and no lates or derogatory information, I expected a much higher limit.

After making a purchase the limit increased to $10,000. After I paid a very small amount it increased to $12,000. Before the payment was due, I paid it off and the limit increased to $15,000.

Funny, now that I actually have an Amex card, I'm no longer excited about it. It's my first Amex card. After a year I will decide if I will keep it or even stay in the Amex family.

[emmma]

@moneylovesspeed 

Good information.

I want to have a charge card in the future, too.  I thought charge card does not have a credit limit, what do you mean by credit limit?

This is your first american express, and it is a platinum, that is interesting to me.  I thought those cards are the super high end cards.

[Brian_Earl_Spilner]

The card doesn't have a hard limit. The internal limit will fluctuate depending on your patterns. Or are you talking about the Pay Over Time limit? If you're talking about the soft limit, I'd recommend you stop playing with the checker tool as amex doesn't like that.

[moneylovesspeed]

---

@emmma wrote:

@moneylovesspeed 

Good information.

I want to have a charge card in the future, too.  I thought charge card does not have a credit limit, what do you mean by credit limit?

This is your first american express, and it is a platinum, that is interesting to me.  I thought those cards are the super high end cards.

---

After you're approved for an Amex charge card you may contact them and they will tell you what your limit is and/or use the checker tool inside the app.

There's a limit and it fluctuates, meaning it may go up and/or down, based on a number of factors. To my understanding the main factor is how you're using or not using your card.

Use the pre-approval tool for Amex. Apparently, it's a great indicator as to your likeness in being approved or not. It's what I used before applying.

[moneylovesspeed]

What do you mean Amex doesn't like it?

[K-in-Boston]

Amex will place hard limits on charge cards, but those have always been punitive in every example I have ever heard of.

OP can you confirm that your card has a Preset Spending Limit, or if you are referring to Pay Over Time limit, the amount you are entering into the Check Spending Ability button (as @Brian_Earl_Spilner mentioned, that's not something you want to repeatedly use unless you actually do plan to make a charge of that amount), or if this is your internal spending ability as related to you in a conversation with American Express?

If it really is a Preset Spending Limit, did you miss a payment or have some other adverse action taken?

[emmma]

@moneylovesspeed 

Perfect.  Thank you.  

[wasCB14]

---

@moneylovesspeed wrote:

---

@emmma wrote:

@moneylovesspeed 

Good information.

I want to have a charge card in the future, too.  I thought charge card does not have a credit limit, what do you mean by credit limit?

This is your first american express, and it is a platinum, that is interesting to me.  I thought those cards are the super high end cards.

---

After you're approved for an Amex charge card you may contact them and they will tell you what your limit is and/or use the checker tool inside the app.

There's a limit and it fluctuates, meaning it may go up and/or down, based on a number of factors. To my understanding the main factor is how you're using or not using your card.

Use the pre-approval tool for Amex. Apparently, it's a great indicator as to your likeness in being approved or not. It's what I used before applying.

---

Having a Platinum is no guarantee of massive spending power. The different charge cards just offer different tradeoffs of rewards and perks. Spending power is based on finances and history. Some Green or Gold cards will have higher spending power than some Platinums.

[emmma]

@K-in-Boston 

Can you explain "american express will place hard limits on charge cards?"

Did you mean in the future?  Can you explain in simple language, I do not understand English very well.

[FinStar]

OP, in addition to what @K-in-Boston mentioned upthread, below is a link to some additional insight (posts #22, 25 & 30).

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