Getting brave w/ Amex spending ability

[scottwagnon]

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@LionLaw wrote:
I thought there was a story on here a while back where someone got a call from amex after using the spending button 4 or 5 times for gradually smaller amounts and getting declined each time... I don't remember if it turned into a full FR, but amex definitely took note.

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i did this, but i never did get a call. hehe... they did lower my internal limit though (blue cash everyday). i would get approved for over 9k but now it won't approve me for even a dollar over the available limit.  hilton hhonors however, they still allow me to go 3k above the limit.

[scottwagnon]

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@Aspireto850 wrote:

so are you saying that there is a possible of Amex doing a F R(financial review) if I check the spending ability button and they could convert my charge card to a revolver without my request? Or are you saying they could add revolver privileges to the charge card?

thanks

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you have to be invited to have the Extended Payment Option. i was invited on my gold pr, and took it for the points, but its not worth using (18.5% apr) if you already have a amex revolve with an apr of 10.24%

[webhopper]

My PRG has pay over time, but I would be pretty dumb to use it, because the APR is like 18%.

My NFCU card has an APR of 12.65%

[cashnocredit]

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@Walt_K wrote:

I think the up to $35K bit is just part of the terms of the Pay Over TIme or Extended Pay feature.  I don't think that is related to your spending ability.

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This is true.  If you check the TOS for any Amex charge card, even the Centurion, the 35k limit applies to all of them.  What the max actually is depends on the specific charges Amex lists as available to POT once you have signed up for it. The reason the max is fixed across all charge cards is that Amex packages these debts as securities and sells them to institutions seeking higher income and relative safely. There are Amex 8Ks out there that describe these securities.

[jla84]

I just recently checked the spending ability on my Zync. I put in 5K and it was approved. My rule of thumb with the AmEx spending ability button is to check it only once every few months and only after you have just paid it off. Never been FR'd (although I've only had it for a little over a year).

[shakalaka]

I did use it in the beginning pretty often. Now (after 4 months having the card) my NPSL has grown way above my normal spending and is at least four time my highest balance so far and I do not care anymore. Maybe I will use it out of curiosity in a couple of months and put in 50K or so, just to have some fun 

Never heard anything from Amexco regarding this and just checked my EX. The only did soft me two times since I have the card.

[OhioCPA]

I have used the button every day for the past few days. I have put in a higher limit each day and received approval on each request.

The only issue I have seen was when I used the button more than once within a few minutes of the last request. The system will issue a warning that you have to call in for the request. This resets after a short period of time and you can then use the button again.

The button is a tool for the card member that is meant to be used. As long as it isn't abused I see no harm in checking limits on a regular basis.

[cashnocredit]

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@shakalaka wrote:

I did use it in the beginning pretty often. Now (after 4 months having the card) my NPSL has grown way above my normal spending and is at least four time my highest balance so far and I do not care anymore. Maybe I will use it out of curiosity in a couple of months and put in 50K or so, just to have some fun 

Never heard anything from Amexco regarding this and just checked my EX. The only did soft me two times since I have the card.

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I found that the one time I checked SL Amex softed me on the same day at TU.  It's the only time they softed TU. Their usual pattern is to just soft EX every once in a while.

[score_building]

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@OhioCPA wrote:

I have used the button every day for the past few days. I have put in a higher limit each day and received approval on each request.

The only issue I have seen was when I used the button more than once within a few minutes of the last request. The system will issue a warning that you have to call in for the request. This resets after a short period of time and you can then use the button again.

The button is a tool for the card member that is meant to be used. As long as it isn't abused I see no harm in checking limits on a regular basis.

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Unless checking in connection with a prospective purchase, this doesn't seem to be in the realm of what Amex may consider prudent use of the spending ability tool.

[cashnocredit]

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\Unless checking in connection with a prospective purchase, this doesn't seem to be in the realm of what Amex may consider prudent use of the spending ability tool.

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That's my rule as well. I really only care about my SL when I intend to spend. If Amex per chance didn't agree there are other cards. So far they have been quite flexxible IMO.