Screwed up with Amex

[AlanGJP]

From my experience - Amex is far more algorithm based than many creditors. Much of the time support cannot see why such-and-such occured or help beyond telling you what happened and offer their opinion (they shouldn't do this imo) of the outcome.

I had a limit placed on my cards too -- it was removed just a few days ago (finally). In my case I put a vehicle down payment on my card after calling to verify this would be ok and verified the amount as well. What I did wrong was to also app for multiple cards - 5+ on the same day I took out my loan. (I figured I'm already going to be hit with multiple hard pulls from the loan, might as well go on an app spree) This triggered their algorithm and the emails started coming in -- it started with "pay your balance or future payments may be declined". This was a Saturday, I PIF on Monday. Over the weekend all of my accounts switched from NPSL to simi-low limits. It took a full year to restore my NPSL. (I put $10-20k through my Amex accounts every month and NEVER carry a balance. Having low limits on some of these meant going from paying once a week, to daily.)

My take-away from this; Amex's decisions are primarily driven by an Algorithm. Once it makes a choice, you're stuck with it. Don't do anything stupid and you'll be rewarded. Do something dumb, and they'll hit you, hard, and fast and sometimes for a long time.

[Anonymous]

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@YogurtFan wrote:

What model watch?  Did you get a good price?

I use my Venmo to send cash occasionally from my American Express "Send" Account to my wife's Venmo which I then deposit into our checking account.  It's an interest-free cash advance to me.  Is that something that American Express might consider inappropriate?

I also use PayPal heavily during this quarter for Discover bonus purposes.  I don't see anything wrong with using PayPal to buy goods or services - within reason.  Out of the ordinary transactions poke the bear.

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I think @bigseegar reply answered the bolded bit!   Obviously, buying goods through paypal with the Discover card are fine.  P2P is going to be much more scrutinized.

[GZG]

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@ptatohed wrote:

  He paid his dues by paying the 2.9% + $0.30 fee to send money via 'Friends and Family' using credit card (ouch).  

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Is friends and family not free if you use a credit card? I thought friends and family was free. Is it only free if you use PayPal balance? 

[ptatohed]

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@GZG wrote:

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@ptatohed wrote:

  He paid his dues by paying the 2.9% + $0.30 fee to send money via 'Friends and Family' using credit card (ouch).  

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Is friends and family not free if you use a credit card? I thought friends and family was free. Is it only free if you use PayPal balance? 

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F&F is free if you use a bank account.  If you use a credit (or debit) card, the sender (or the recipient) pays the 2.9% + 30c fee.  

[mfinsmi1]

i used my amex card once to pay my friend 12 bucks for lunch since he put it on his amex and he used the split it function but now im worried- i agree im not sure why amex would allow someone to do P2P yet when someone does they flag it as fraud ... maybe becuase of the amount and their inability to track the transaction to a good or servive but moral of the story : im never using this feature ever again 

[arifjk]

I am sorry that OP had to go through those. I never know that P2P is frown upon even though it's a legit transaction. This is a lesson learned for me at the very least. Thank you for sharing this data. 

[Remedios]

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@mfinsmi1 wrote:

i used my amex card once to pay my friend 12 bucks for lunch since he put it on his amex and he used the split it function but now im worried- i agree im not sure why amex would allow someone to do P2P yet when someone does they flag it as fraud ... maybe becuase of the amount and their inability to track the transaction to a good or servive but moral of the story : im never using this feature ever again 

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Apples and watermelons. 

Split feature is fine because transaction is initiated by merchant, then payment split between multiple parties. 

Now if you send money to a burner PayPal account that may or may not be yours and gain access to large sum of cash that way, then claim it wasn't even you ..but, enough about that 

[arifjk]

Sorry to piggyback this. I am still confused. I got an email from AMEX to link my AMEX account to either Venmo or PayPal so that I can send money or Split payment. I am very sure that this is considered P2P transaction. Then why do they offer this as benefits to their AMEX customers if they are going to penalize the customers if they are using it? Here is the screenshot from AMEX email that I got.

[pauldc73]

A regular P2P transaction for a reimbursement is fine.  $10,000 or thereabouts without official documentation.....  not so much....

[Remedios]

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@arifjk wrote:

Sorry to piggyback this. I am still confused. I got an email from AMEX to link my AMEX account to either Venmo or PayPal so that I can send money or Split payment. I am very sure that this is considered P2P transaction. Then why do they offer this as benefits to their AMEX customers if they are going to penalize the customers if they are using it? Here is the screenshot from AMEX email that I got.

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Do you see that last part "Just be sure to add money in the Amex app first"