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I have an AMEX Green and an AMEX Platinum. I checked the spending limits on both today and they both approved for 30,000. How does AMEX determine that?
It also seems the more you spend the more you can spend.
@scenery_guy wrote:It also seems the more you spend the more you can spend.
I have never spent any where near that! I actually just put it in to see what would happen. When it was approved for the Green, I tried the same number for the Platinum and it was approved as well. I could never spend that much in a month!
@enharu wrote:
They have confidence in you paying back 30k if u ever use it. Most likely, because of your income.
I don't have expenses to equal that! although if I did, my income does support me being able to pay it back, but damn! they must really trust me!! I opened the Green in October of 2012, and the Platinum in Jan of this year.....Ive used both and paid them off, of course. The max I've spent in a month is 5 grand, though...
The have a huge database of people's purchases and payment history. They merge that in with a soft pull (I'll bet they softed you - they did me) and if the statistics are highly likely you will pay they will approve. They did with me on a recent 60k actual purchase.
@cashnocredit wrote:The have a huge database of people's purchases and payment history. They merge that in with a soft pull (I'll bet they softed you - they did me) and if the statistics are highly likely you will pay they will approve. They did with me on a recent 60k actual purchase.
They soft me ALL the time!!! Initially, I was getting paranoid with the amount of times they have softed me Experian report!! I have about 150,000 dollars now in available credit, not counting their NPSL cards. I don't need them in the least, but I use them because I like to have to pay my bill in full each month.