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Amex Charge Cards may be reducing spending power for users. These cards from American Express have no pre-set spending limit, instead the limit changes with your spending habits. Recently some users got emails saying they were close to their limits.
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32 comments
Looks like Linus tech tips
Amex is the most overrated card there is. Unlike a visa or Mastercard, it's not accepted everywhere. It use to mean something but not anymore.
Pre set only. Not unlimited money.
I remember getting those account emails before I completely paid my card off.
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I have the AMEX Platinum from Thailand. First time I tried to pay 10.000 EUR for AdWords. The transaction got rejected. After I just called to talk with them and from then I never had any problems spending 10.000 EUR on AdWords in one transaction.
Several times I have spend more than 20.000 EUR every month without any problems.
I hope you enjoy your financial review.
Idk why people like Amex so much their cards suck compared to chase network
Do you have to allow the balance to sit for the full billing cycle for this to work? I use my CCs instead of cash or debit card and pay them off every 2 weeks. If I treated an AMEX charge card this way, would it keep my available purchase power low?
Thanks.
Hsbc..is doing it also…check it out///////
One of my credit cards fell off the 5/24 rule on May 15th and I applied for a chase card on May 19th. My application is currently under review. If I do happen to get denied can I call the reconsideration chase number? Do you think they might reconsider my application?
Just got the Gold a month ago. Tried to hit the Sign Up Bonus. I hit up to 3,000$ until it got declined and I found my hidden limit They said everyone has the same credit limit cap for the first month. I wonder if anyone else has had similiar sitiation .
Ive had a weird agreement with AMEX on my Gold Card for a few years. Two years ago after a phone call about the “No Limit Spending” I submitted financial documents to them & they gave me a $22,000 SL, that I could see on my App. They recently just lowered it down to $6500. I always pay on time and I have run up some serious spend on the card in the past. No bad payment history and credit score around 700. So I definitely had me SL lowered recently. I do like the setup still, the No Limit Spending thing was annoying and weird, it’s nice to know what I can spend without the dumb Spending Power check.
My PRG limit has gone up.
We need to talk 🤣😂🤣 lol that was too funny just happened to me 😡
This is interesting, i have had an Amex corporate card (employer) for 2 years with crazy expenses. They gave me a Gold for myself because of it haha.
Yep.. here in the UK. My Spending Power on Amex Gold was something about £8K. Today… £1.4k. That sucks…
Yes month one I couldn't do mote than 1300, month 6 8400 is ok, we don't need more then 4k
I went online as I wanted to see it a payment of £2000 would go thorough it said no, I decrease it 3 times near the amount I really wanted to spend but triggered the two many uses scenario. Tried the following day and it stated that they may consider??? Yesterday I got a letter stating they have reduced my limit to £900.00 on my charge card. I will be canceling it a month before I get charge the annual charge cos what use if the a limit of £900 to me.
I have a Delta Reserve SkyMiles card that I've had less than a year and I got when I had a job that had lots of regular flying. That card does have a credit limit, but it also has a 'Check Spending Power' button in the app. When I first got it, I tried it out and was able to go a bit over my credit limit. I tried it just now and was 'partially approved' for …. the remainer of my available credit. 😛
Not once have I had the opportunity to use it for a flight and take advantage of the miles or the lounge access/upgrades/etc. A few months after I got the card, COVID-18 happened and the next company trip was cancelled, and then I was one of the victims of massive layoffs due to COVID-19 – and my new job doesn't have any travel 😛
I got bored and checked my "purchasing power" for my Plat today, 9NOV20. Plugged in 30K and they were like "Congrats! Yo can do that!" And I was like "Fantastic… that is not what I make in a month /or be able to afford that, but thanks for the info!" To be fair, I've had some large medical bills this last year that I put on a regular Amex card. The charges totaled 8.5k, but I knew I would be refunded through insurance within a couple months. I was, and I paid my balance off on my 0% APR card within 8 weeks. This is probably why they feel I am worthy of buying a Honda Accord with my platinum, even though my monthly spend on the cards is only ~2500 (which I don't roll and pay off.)
I recently got my first Amex. Is paying off charges prior to the statement period ending a bad idea? I've been paying them off the day after they post.
With amrican express credit card do you think is best to get for a invitation to get the black card
So if the gold cards annual fee is 295 up i spend like 1k, will I have to pay 1k or will I still pay 295?
I have 1000$ credit card limit and I got a 500$ charge card limit , how do you explain that?
Eating Sexually🤣
I have Green Card and had it for 629 Fico 8 in 2018.., and now all the sudden they put a $2,000 spending preset spending limit and credit score is not much higher 656 Fico 8 Experian as of today, and they put this limit on green card and also with this limit, tell me I am qualified for upgrade to Platinum…. rather strange activity even lucky to have a card of their's like I am limit or not limit as a month ago….fees are only thing making it where I want to cancel it but no other elite cards do I have…I am lucky they didn't close account out….
So, I just got my Amex Gold on yesterday and since they do not have any data on m outside of the amount that was put on my application, how much should I spend in my first month to make certain that I have a good spending limit?
Now they are closing accounts out for no reason..
When I got the Gold and the Green cards, I checked the spending limit and I was approved for 7k. After a while, it dropped down on both card to $5500 which is more than I could ever need anyway. My highest credit card limit is $7000 with Chase so the lowering didn't bother me. 10k between the 2 Amex is more than enough! 😀
got a message today that my spending limit is now set at $10k on my platinum card