To those who have AMEX Gold

[Anonymous]

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@FicoGuy2019 wrote:

Just got the Gold 6 days ago. No SP or HP.  If you look at my approval thread you'll see the info the rep gave me.

Amex Zync since 2011 (5k max limit), Amex CM (20k) since 4/2019, Amex Gold (45k max limit) 5/2019

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I'm curious what your basis is for assigning a particular limit to the Amex Gold.

[FicoGuy2019]

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@Anonymous wrote:

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@FicoGuy2019 wrote:

Just got the Gold 6 days ago. No SP or HP.  If you look at my approval thread you'll see the info the rep gave me.

Amex Zync since 2011 (5k max limit), Amex CM (20k) since 4/2019, Amex Gold (45k max limit) 5/2019

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I'm curious what your basis is for assigning a particular limit to the Amex Gold.

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According to Amex, this is the max amount I am elgigible for to spend on the card.  It is also the max limit they told me I can use "pay it, plan it"  to carry a balance.   If you call Amex they can tell you.  I just got approved for the Platinum a few hours ago but I don't know the hard limit on that yet, even though it shows NPSL just like the Gold.  I'll ask them once I get the card in hand.

I mean, I know there isn't a revolving limit on the charge per se like a revolver but it's just the max limit available to me, per Amex and I know it can be adjusted based on usage.

[UncleB]

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@FicoGuy2019 wrote:

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@Anonymous wrote:

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@FicoGuy2019 wrote:

Just got the Gold 6 days ago. No SP or HP.  If you look at my approval thread you'll see the info the rep gave me.

Amex Zync since 2011 (5k max limit), Amex CM (20k) since 4/2019, Amex Gold (45k max limit) 5/2019

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I'm curious what your basis is for assigning a particular limit to the Amex Gold.

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According to Amex, this is the max amount I am elgigible for to spend on the card.  It is also the max limit they told me I can use "pay it, plan it"  to carry a balance.   If you call Amex they can tell you.  I just got approved for the Platinum a few hours ago but I don't know the hard limit on that yet, even though it shows NPSL just like the Gold.  I'll ask them once I get the card in hand.

I mean, I know there isn't a revolving limit on the charge per se like a revolver but it's just the max limit available to me, per Amex and I know it can be adjusted based on usage.

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Just a note about that POT limit... my own is $35k, but I'm under no illusion that Amex would let me get remotely close to that.

I definitely wouldn't 'count' on having the total limit they provide available to revolve a balance unless you're pushing significant spend through Amex, which in that case you probably would never need it anyway.

[FicoGuy2019]

Unfortunately, I don't have anything that big as a single purchase coming up.  I pushed 9975 through NFCU last month right before my 10k limit and paid before statement cut.  I wish I would have waited had I known I would have got the gold and platinum and put it through there...but even then, I always pif before statement cuts so I guess I won't ever find out the true POT unless I test it one day down the road if I ever have a very large purchase.

[Anonymous]

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@UncleB wrote:

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@FicoGuy2019 wrote:

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@Anonymous wrote:

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@FicoGuy2019 wrote:

Just got the Gold 6 days ago. No SP or HP.  If you look at my approval thread you'll see the info the rep gave me.

Amex Zync since 2011 (5k max limit), Amex CM (20k) since 4/2019, Amex Gold (45k max limit) 5/2019

---

I'm curious what your basis is for assigning a particular limit to the Amex Gold.

---

According to Amex, this is the max amount I am elgigible for to spend on the card.  It is also the max limit they told me I can use "pay it, plan it"  to carry a balance.   If you call Amex they can tell you.  I just got approved for the Platinum a few hours ago but I don't know the hard limit on that yet, even though it shows NPSL just like the Gold.  I'll ask them once I get the card in hand.

I mean, I know there isn't a revolving limit on the charge per se like a revolver but it's just the max limit available to me, per Amex and I know it can be adjusted based on usage.

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Just a note about that POT limit... my own is $35k, but I'm under no illusion that Amex would let me get remotely close to that.

I definitely wouldn't 'count' on having the total limit they provide available to revolve a balance unless you're pushing significant spend through Amex, which in that case you probably would never need it anyway.

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Amex uses a 3-6 month rolling average of spending as the actual limit on charge cards; then as payment history builds it becomes a 2X or 3X multiple of the rolling average .  The POT is essentially a theoretical limit and as you point out, unless the cardmember is pushing significant spending through the card they wouldn't be allowed that limit.

[Anonymous]

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@UncleB wrote:

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@FicoGuy2019 wrote:

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@Anonymous wrote:

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@FicoGuy2019 wrote:

Just got the Gold 6 days ago. No SP or HP.  If you look at my approval thread you'll see the info the rep gave me.

Amex Zync since 2011 (5k max limit), Amex CM (20k) since 4/2019, Amex Gold (45k max limit) 5/2019

---

I'm curious what your basis is for assigning a particular limit to the Amex Gold.

---

According to Amex, this is the max amount I am elgigible for to spend on the card.  It is also the max limit they told me I can use "pay it, plan it"  to carry a balance.   If you call Amex they can tell you.  I just got approved for the Platinum a few hours ago but I don't know the hard limit on that yet, even though it shows NPSL just like the Gold.  I'll ask them once I get the card in hand.

I mean, I know there isn't a revolving limit on the charge per se like a revolver but it's just the max limit available to me, per Amex and I know it can be adjusted based on usage.

---

Just a note about that POT limit... my own is $35k, but I'm under no illusion that Amex would let me get remotely close to that.

I definitely wouldn't 'count' on having the total limit they provide available to revolve a balance unless you're pushing significant spend through Amex, which in that case you probably would never need it anyway.

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Mine is also 35K (pending), and I sometimes check the spending limit tool. It says they'll approve 25k in general purchases. I haven't put in a higher number. 

I do have a largish balance (close to 5000) as a no interest balance transfer plus purchases on an Amex everyday card. Each month I take the balance and pay off the proper amount to have it down to zero at the end of the no-interest period.

In Canada I have two Amex credit cards, and one has a $36,000 credit limit and the other $15,000. If Amex is making money - and the pay over time sure isn't a low interest option - I see no reason why they wouldn't allow what they say they'll allow.

[Anonymous]

Another idea that was shared by a member in a Gold thread of my own this evening:

When you set up the card after it arrives, hold off on enrolling in POT. He said that Amex has been known to offer to throw some MRs your way for enrolling if you haven’t done so by a certain amount of time after activating the card. YMMV as always, it’s not guaranteed, but if you don’t need to use POT right away, don’t enroll. Maybe they’ll sweeten the deal in a few months to get you to enroll later on.

[FicoGuy2019]

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@Anonymous wrote:
Another idea that was shared by a member in a Gold thread of my own this evening:

When you set up the card after it arrives, hold off on enrolling in POT. He said that Amex has been known to offer to throw some MRs your way for enrolling if you haven’t done so by a certain amount of time after activating the card. YMMV as always, it’s not guaranteed, but if you don’t need to use POT right away, don’t enroll. Maybe they’ll sweeten the deal in a few months to get you to enroll later on.

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I didn't sign up for it.  The amex rep just told me I was approved to spend 45k POT after I was approved so I assume they signed me up automatically?  I thought it was just included the same way my CM has the "Pay it Plan it" automatically.

I guess if I really wanted to keep a high limit I could push everything through gold/platinum but I usually spread out my spending across cards to keep them all sort of active.  I generally don't need to spend that much in one month anyway unless it was something planned.

[Anonymous]

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@FicoGuy2019 wrote:

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I didn't sign up for it.  The amex rep just told me I was approved to spend 45k POT after I was approved so I assume they signed me up automatically?  I thought it was just included the same way my CM has the "Pay it Plan it" automatically.

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I think it's because of your long record with Amex. I got a gold card in September and I only got the POT offer a week or two ago. And I can't add it to my Platinum card that was issued in March.

[KLEXH25]

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@Anonymous wrote:

Would you perhaps have any clue as to why it is saying,

"Sorry, we were unable to match you with any pre-qualified offers at this time."

The pre-approval tool on their website was working just fine a couple days ago. 

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Were you pre-approved a few days ago and now you're not? I have a similar profile. My oldest card is almost a year and average age is 8 months, and I've been getting preapprovals for the Gold the past two months. Plan to apply in a week or two. I'm confident if you get a preapproval again, you should be golden.