Amex over limit?

[Anonymous]

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

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I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

[Anonymous]

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@Anonymous wrote:

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

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I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

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Pretty sure you're correct. I don't think it's an extension of $500 for example but more like an on-the-spot approval to extend your line by the amount of the transaction.

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

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I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

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If you have a $100 limit and report $125, it will show the balance of $125 and a utilization of 125%. It will then be listed in your reports as the highest balance on that card, if it was.

I've done it plenty of times when I had good credit. That's the whole point of having a flexible limit.

[M_Smart007]

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@Anonymous wrote:

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@Anonymous wrote:

Ok I'm glad you corrected it - I haven't ever taken mine over their limits and was relying on what I thought I read awhile back. Good that there's some time allowed I'm sure but yeah, the 100%+ usage would be a bad look on your reports.

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Yeah I won't ever be finding out either. I would have a heart attack when my score dropped... that's what, 30-40 points or so? 😱 

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I remember your SSL @Anonymous% .. small bump in the road

[AllZero]

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@M_Smart007 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Ok I'm glad you corrected it - I haven't ever taken mine over their limits and was relying on what I thought I read awhile back. Good that there's some time allowed I'm sure but yeah, the 100%+ usage would be a bad look on your reports.

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Yeah I won't ever be finding out either. I would have a heart attack when my score dropped... that's what, 30-40 points or so? 😱 

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I remember your SSL @Anonymous% .. small bump in the road

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What about @Anonymous%  or @10000000%

[Anonymous]

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@M_Smart007 wrote:

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@Anonymous wrote:

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@Anonymous wrote:

Ok I'm glad you corrected it - I haven't ever taken mine over their limits and was relying on what I thought I read awhile back. Good that there's some time allowed I'm sure but yeah, the 100%+ usage would be a bad look on your reports.

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Yeah I won't ever be finding out either. I would have a heart attack when my score dropped... that's what, 30-40 points or so? 😱 

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I remember your SSL @Anonymous% .. small bump in the road

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SSL is an installment loan so it wasn't much of a ding. Had that been a credit card, I would have lost my mind. 

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

---

I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

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If you have a $100 limit and report $125, it will show the balance of $125 and a utilization of 125%. It will then be listed in your reports as the highest balance on that card, if it was.

I've done it plenty of times when I had good credit. That's the whole point of having a flexible limit.

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That's how I figured it worked. And nah, I won't ever do that. I would split it among multiple cards if I had to but with a $15K card, I would be quite worried about my spending if I hit that level. 

[Brian_Earl_Spilner]

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

---

I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

---

If you have a $100 limit and report $125, it will show the balance of $125 and a utilization of 125%. It will then be listed in your reports as the highest balance on that card, if it was.

I've done it plenty of times when I had good credit. That's the whole point of having a flexible limit.

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That's how I figured it worked. And nah, I won't ever do that. I would split it among multiple cards if I had to but with a $15K card, I would be quite worried about my spending if I hit that level. 

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To be fair, I didn't know much back then and I never considered how it might look to other lenders. All that mattered was my limit wasn't high enough and it would take 4 days to free it up after mailing the check. So, flex limit it was.

[Anonymous]

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@Brian_Earl_Spilner wrote:

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@Anonymous wrote:

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@KLEXH25 wrote:

Well the card would report the balance well before the due date (assuming you don't make a payment before then). So if you're limit is $1,000 and they extend you to $1,500 and you have a $1,200 balance, how does it report? $1,200/$1,000 ~OR~ $1,200 / $1,500?

In reality, I would very likely pay down the balance before it reports, but I'm just curious  how they handle that scenario. 

---

I would imagine it would report $1200 used on a $1K limit but I've never done this so maybe someone who has will chime in. 

---

If you have a $100 limit and report $125, it will show the balance of $125 and a utilization of 125%. It will then be listed in your reports as the highest balance on that card, if it was.

I've done it plenty of times when I had good credit. That's the whole point of having a flexible limit.

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That's how I figured it worked. And nah, I won't ever do that. I would split it among multiple cards if I had to but with a $15K card, I would be quite worried about my spending if I hit that level. 

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To be fair, I didn't know much back then and I never considered how it might look to other lenders. All that mattered was my limit wasn't high enough and it would take 4 days to free it up after mailing the check. So, flex limit it was.

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Yeah I'm not slamming you for doing it, I'm just saying that I would be very worried for myself if I found myself having to do that with the limits I have now. Watching my mother deal with credit issues, I learned right away about staying in my credit limit so I never went over but I also always had pretty adequate limits on my cards, with my first card being almost $5K out of the gate and my second being 5 digits. I just wish I learned the lesson about not carrying balances 😂