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Amex only approved me for a $1000 limit for the Delta card the other day. The offer I was approved under says, "Earn 30,000 bonus miles after you make $1,000 in purchases on your new Card within your first 3 months". I have a bill for insurance renewal for $1000 that is due right now. I want to charge to the Delta card and then pay it as soon as the charge posts. This quickly takes care of the bonus qualification. However, is it a bad thing to max the card? Will maxing the card hurt me when it comes time for 3X CLI? Seems to me it demonstrates the need for an inrease. I desparetly need to get this very low limit increased as fast as possible for upcoming summer trips. I can't jeopraddize that.
As long as you pay your card you can use in any way you want it.
There are people that get Amex with $1,000 that max the card a couple of times a month and pay it down and get the CLI to $3,000 after 61 days.
@newhis wrote:As long as you pay your card you can use in any way you want it.
There are people that get Amex with $1,000 that max the card a couple of times a month and pay it down and get the CLI to $3,000 after 61 days.
Thank you! That is good news.
@Anonymous wrote:
When I got my Amex with the 150$ statement credit. My limit was 1000. I charged 1100 on it for a gun safe. I did the check spending, said I'd it would be approved. Then just paid it all off after the purchase. Have had no problems with Amex when I did it.
You went over your limit? Amex didn't somehow penalize you?
They don't penalize you. You have to click "check spending power" and type in what amount you want to spend (excess of your limit) and they'll tell you if you are approved to do so. From their FAQ: "Based on your credit profile and spending habits, we may approve you temporarily to spend more than your credit limit. There is no fee for going over your credit limit."
@Anonymous wrote:They don't penalize you. You have to click "check spending power" and type in what amount you want to spend (excess of your limit) and they'll tell you if you are approved to do so. From their FAQ: "Based on your credit profile and spending habits, we may approve you temporarily to spend more than your credit limit. There is no fee for going over your credit limit."
For kicks, I just checked the spending power on my measly $1000 limit Delta and checked for $1200. Denied! It said partial approval at $1000 but not $1200. The funny thing is, I checked the spending power on my PRG and it Ok's a $5000 purchase. LOL
AMEX has a "spending power" feature that may allow you to exceed your limit. Hit the "Check Spending Power" link next to your available credit to check it out. You'll see this description:
"You may be approved to temporarily spend over your credit limit, but any overlimit transactions will increase your Minimum Payment Due."
Also, AMEX has limits as far a the number of payments you can make during the first month your bank account is hooked up. If you need to exceed these limits, you'll need to push payments from your bank.
You might want to hop into chat or make a call to clarify these things. I don't think you'll have any problem making the charge and paying it down, but you should make sure you don't encounter any surprises.
@HeavenOhio wrote:AMEX has a "spending power" feature that may allow you to exceed your limit. Hit the "Check Spending Power" link next to your available credit to check it out. You'll see this description:
"You may be approved to temporarily spend over your credit limit, but any overlimit transactions will increase your Minimum Payment Due."
Also, AMEX has limits as far a the number of payments you can make during the first month your bank account is hooked up. If you need to exceed these limits, you'll need to push payments from your bank.
You might want to hop into chat or make a call to clarify these things. I don't think you'll have any problem making the charge and paying it down, but you should make sure you don't encounter any surprises.
Good Idea!
I would do it but I would pay it off the next day.