How useless is an Amex charge card?

[SouthJamaica]

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@Anonymous wrote:
If it makes anyone feel better, based on your comments like these, I made the recommendation that we start displaying your "virtual limit/available credit" online for the charge cards earlier this year and I'm pleased to inform that this capability is now under execution. No ETA at this time but this concern should be addressed in the hopefully not-too-distant future.

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Thanks for the information.

It's pretty weird to be told that my 'spending power' is reduced from 70k 10 days ago to 8800 because I'm not using the card a lot right now.

[Anonymous]

When you use Can I Use My Card, the authorisation system is placing a pre-approval and effectively holding that credit aside for the purchase you just told it you are planning to make. If it's now saying $8,800, it sounds like it's placing that second pre-authorisation above your first one.

[Anonymous]

I'm just amazed by the variance in fluctuation of limits. 70k to 40k for example would make some sense. But 70K to $8800? lol that's quite the differences

[driftless]

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@Anonymous wrote:
When you use Can I Use My Card, the authorisation system is placing a pre-approval and effectively holding that credit aside for the purchase you just told it you are planning to make. If it's now saying $8,800, it sounds like it's placing that second pre-authorisation above your first one.

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That is interesting. How long do the credit set asides last for? For example, I just used "Checking Spending Power" to approve a $15,000.00 purchase. How long does that soft authorization last? Regardless, it is still a non-started for me to have to check my credit when with CSR, Ink, etc., I know that absolutely.

[Anonymous]

It's a 10 day pre-authorisation.

[driftless]

Thanks!

[Anonymous]

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@iced wrote:

Unfortunately, even with the $70,000 spending power, you risk having the card declined when you travel. While still somewhat uncommon, the number of places that won't take American Express is growing. Not going to steer you in any one direction, but I would recommend you have something that's not American Express as a backup because having it declined just for being an American Express is a when, not an if.

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Growing? Explain. (I haven't really noticed around here, for what it's worth.)

[iced]

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@Anonymous wrote:

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@iced wrote:

Unfortunately, even with the $70,000 spending power, you risk having the card declined when you travel. While still somewhat uncommon, the number of places that won't take American Express is growing. Not going to steer you in any one direction, but I would recommend you have something that's not American Express as a backup because having it declined just for being an American Express is a when, not an if.

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Growing? Explain. (I haven't really noticed around here, for what it's worth.)

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I used to use an AmEx corporate card (gave up on it about 18 months ago due to several reasons, one of which was this lack of universal acceptance). I remember at least two instances where on I used AmEx to pay for a meal at a restaurant then visited again several months later to be told they no longer accepted AmEx.

That's on top of the merchants that never accepted AmEx to begin with.

[SouthJamaica]

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@Anonymous wrote:
When you use Can I Use My Card, the authorisation system is placing a pre-approval and effectively holding that credit aside for the purchase you just told it you are planning to make. If it's now saying $8,800, it sounds like it's placing that second pre-authorisation above your first one.

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Are you saying that when I click "check my spending power" they're interpreting that to mean I actually intend to spend that much?

If so, (a) that's a rude awakening for me, and (b) they ought to disclose that fact.

I've been doing it just for the hell of it, just to know what outlandish number they'd assigned to me that week.

[redpat]

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@SouthJamaica wrote:

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@Anonymous wrote:
When you use Can I Use My Card, the authorisation system is placing a pre-approval and effectively holding that credit aside for the purchase you just told it you are planning to make. If it's now saying $8,800, it sounds like it's placing that second pre-authorisation above your first one.

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Are you saying that when I click "check my spending power" they're interpreting that to mean I actually intend to spend that much?

If so, (a) that's a rude awakening for me, and (b) they ought to disclose that fact.

I've been doing it just for the hell of it, just to know what outlandish number they'd assigned to me that week.

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Wow every week!

I never checked it, I don't care and use the card if I want to.  If it bounces I have others in that case.  Knock on wood I never had an issue.