Putting a large transaction on my new AmEx BCE

[oldman425]

My personnal rule is that I always call before a large purchase.  Not sure if it's needed or not, but I would rather be safer than sorry.

[Anonymous]

I am was the same situation yesterday on with our  Amex BCP.  i had to make two $5000 purchases unexpecedlty   right behind each other. Our card is only 2 weeks old. I made the first purchase and got an email from Amex about large purchase then I paid $5,000 on our account. About 5 minutes later did the second one no problem.    Got the same notice.  Now the second one will take a little bit longer to pay.   I will pay down so total over all cards is under 9% before the statement cuts.  

[HeavenOhio]

Backwoods, you're actually in control of those notices. Click on "More Options" in the righthand column opposite your transactions. On the page that pops up, choose "Account Alerts" in the lefthand column. Open up "Fraud Alerts" and look for "Large Purchases." There you can set the threshold for which you'll be notified for large purchases, or you can shut off this feature entirely. I see that I'll get an e-mail for any purchase I make over $1,500, which is likely AMEX's default setting.

[Anonymous]

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@oldman425 wrote:

My personnal rule is that I always call before a large purchase.  Not sure if it's needed or not, but I would rather be safer than sorry.

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I think it also depends on what you consider "large". I'd say anything $3K+ should be called in advance just so that it doesn't get declined at the register and the embarrasment that follows.

[Anonymous]

You only go the $100 promo? they have a $200 for 1k spend promo going on for BCE

[Thomas_Thumb]

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@trnj88 wrote:

I am buying an engagement ring soon for my girlfriend that will be between $4,800-$5,200. Long story short, I was going to pay for this in cash but, as part of my app spree last week, got approved for a BCE with a $10,300 CL at 0% APR for 12 months and 1% back for standard purchases like this. I'm thinking of buying it with the BCE and then paying it off to get the $50.00 back (plus a $100 bonus for spending >$1,000 in the first three months) but would this flag something at AmEx? I know they can be FR-happy for things like this, which I don't mind, but don't want to go through any "red flagging" or hassle associated with immediately utilizing 50% of my $10.3k CL in the first month.

Thanks

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No red flag and no AA.

However, going over 49% UT on a new account the 1st month might result in temporary score drop of up to 20 points - IMO. Also, it looks like reporting a $5k balance will increase your AG UT to above 9% which will contribute to the score drop. If you won't be applying for any new credit, leveraging the 0% interest has its advantages.

[trnj88]

Thanks all, great advice. I just re-checked the terms of my Amex BCE and it looks like the bonus for spending over $1,000 is actually $250 and not $100! Not sure where I got the $100 from. So $250 + $50 cash back is pretty solid. Pretty sure I'll jump on chat to give them a heads up and go for it.

And thanks for the well wishes! Hopefully this isn't the biggest mistake of my life, LOL. @MyLoFICO, if you don't mind please pass along the number for your therapist

And thanks Thomas_Thumb, good point, I don't really mind the score drop since my spree is done now and I'm just resting on new apps until at least a year from now.

[Anonymous]

Hey OP do you have a link to the $250 offer so far I've only found $100, $150, and $200 bonus but no $250.

[Anonymous]

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@MyLoFICO wrote:

The only issue I see is getting married. That alone should scare you. I did it twice and still see a therapist occasionally but he is really good. His name is Dr. Mark. Dr. Makers Mark. He is from Kentucky but has an intoxicating personality. Congrats on the new AMEX though.  

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Oh my gosh, best response ever LOL! (and totally my feelings on marriage at the current time )

OP Congrats on the Amex and the soon to be proposal!!

[trnj88]

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@Anonymous wrote:
Hey OP do you have a link to the $250 offer so far I've only found $100, $150, and $200 bonus but no $250.

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I don't have a link but I did save the terms of my prequal offer to a Word doc. Here's what it says:

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OFFER TERMS

Welcome bonus offer not available to applicants who have or have had this product.

$250 Statement Credit

To qualify for the $250 statement credit, you must make purchases with your Blue Cash Everyday® Card from American Express that total $1,000 or more within your first 3 months of Card Membership starting from the date your account is approved. In rare instances, your period to spend $1,000 may be shorter than 3 months if there is a delay in receiving your Card. Also, purchases may fall outside of the 3 month period in some cases, such as a delay in merchants submitting transactions to us or if the purchase date differs from the date you made the transaction. (For example, if you buy goods online, the purchase date may be the date the goods are shipped).The statement credit will be applied 6-8 weeks after the spend threshold is met. Qualifying purchases can be made by the Basic Card Member and any Additional Card Members on a single Card Account. Purchases to meet the spend requirement do NOT include fees or interest charges, balance transfers, cash advances, purchases of traveler's checks, purchases or reloading of prepaid cards, or purchases of any cash equivalents. Additional Card Members on your account are not eligible for this offer. To receive the $250 statement credit, your Card account must be active, in good standing, and not in default at the time the statement credit is posted to your Card account. For questions regarding your Card account, please call the number on the back of your Card. American Express reserves the right to modify or revoke offer at any time.

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