Received a preset limit on Amex Platinum

[julia18330]

I just received a preset limit on my American Express Platinum card. My question, does this report to the bureas as a credit limit now and utilization is calculated by fico? 

Thanks 

[Windchill92]

My intuition says it would, b/c bureaus keep track of limits on each revolving account.

[Anonymous]

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@julia18330 wrote:

I just received a preset limit on my American Express Platinum card. My question, does this report to the bureas as a credit limit now and utilization is calculated by fico? 

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No

[Blender]

Everyone gets a preset limit on charge cards. That amount changes with spend and repayment behaviors. Charge cards report balances, not utilization.

[Komma]

No it reports the same. It's more of an internal scoring system if anything. Even "no preset spending limit" has hidden limits based on usage history. If you normally spend 2000 a month and try to make a 10k purchase they'll deny it.

[IsambardPrince]

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@Blender wrote:

Everyone gets a preset limit on charge cards. That amount changes with spend and repayment behaviors. Charge cards report balances, not utilization.

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Yes, but with AmEx if they say that you have a set limit, then that's bad.

You can start getting denied credit limit increases on the credit card side, and one of the reasons can be that you have a "preset spending limit on a charge card".

That's why people who are not real high income shouldn't apply for an AmEx charge card. They might get one, but there will be a hard limit and then the only way to get it off of there to stop screwing up your credit cards is to close the charge card.

Also, the annual fees on the charge cards make no sense at all for most wage earners.