How to raise Pay Over Time limit on Amex Platinum?

abelbarraza3 · ‎11-01-2021

Hello,

I recieved an amex platinum card about 6 months ago. I noticed my Pay Over Time limit is pretty low at $2,500. This last month I spent $8,100. I would like to know if there is a way to request Pay Over Time limit to be increased? If not is it typically auto-increased? Does anyone have a time frame for auto-increases and were you notified. I always pay in full but would like to increase my Pay Over Time limit in case of an emergency.

simplynoir · ‎11-01-2021

For Pay Over Time you cannot request an increase for the limit as it is initiated by AMEX themselves automatically. AFAIK no one really knows what it takes to increase it and any increases automatically given the customer is not notified of the change I believe. You will just see a change in your statement of the increase itself

Perhaps contacting customer service might be beneficial to see if their policies have changed regarding customer-initiated requests

greatscott85 · ‎11-01-2021

You can always turn it off. You might have to wait for a statement or two. Keep in mind, if you do, the full balance is due for each statement.

Curious_George2 · ‎11-01-2021

I don't recommend doing this, but in my experience, the way to get your Pay Over Time limit raised is to use a lot of it. In my younger days, I foolishly carried a balance on my Amex charge card for years, and as the balance grew, so did the POT limit. Now my POT limit is $50k, but I might literally cry if I added up how much interest I paid to get it there. Please don't do that.

If you want to have available credit as a "just in case" option, I suggest looking for good BT cards instead.

NRB525 · ‎11-02-2021

@greatscott85 wrote:
You can always turn it off. You might have to wait for a statement or two. Keep in mind, if you do, the full balance is due for each statement.

I don't think turning off the PoT feature would eliminate the calculation of PoT limit. As I understand it, the PoT limit is used for both named Pay Over Time, as well as Plan It balances.

TLDR You get the PoT Limit for free.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765

greatscott85 · ‎11-04-2021

@NRB525 You're probably right! Not sure myself. But I think my Gold was like 8k and I was getting emails about spend, got annoyed, found out how to turn it off and haven't looked back .
I can definitely see how people would find value in it though!