Comments on: American Express Cards DO Have Spending Limits http://www.moneyunder30.com/american-express-cards-do-have-spending-limits Personal Finance for the Young and Ambitious Tue, 09 Mar 2010 22:48:03 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Rod http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-4031 Rod Wed, 30 Dec 2009 08:43:24 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-4031 I have to say charge cards are the way to go, I have been down the path of credit cards - never again. Here in Germany most banks by default issue Visa/MC charge cards, despite calling them credit cards. They are however not always good when it comes to limits of rewards, hence Amex which has a little more flexibility when needed. That said even if you ask in advance for a larger limit they still decline the request unless you call. I had this problem when the hotel I was staying in put through a bill for the many weeks I had been there, I had warned Amex in advance but they said a big fat NO! The annoying thing was this was to prevent fraud, but this info was not passed onto the retailer. I had to call Amex who then did some security checks and the transaction cleared. Amex and other charge cards are the way to go in my view, but do be warned they can a little more picky about authorisations! Especially when this is above your normal per transaction amount and in a strange land. I have to say charge cards are the way to go, I have been down the path of credit cards – never again. Here in Germany most banks by default issue Visa/MC charge cards, despite calling them credit cards. They are however not always good when it comes to limits of rewards, hence Amex which has a little more flexibility when needed. That said even if you ask in advance for a larger limit they still decline the request unless you call. I had this problem when the hotel I was staying in put through a bill for the many weeks I had been there, I had warned Amex in advance but they said a big fat NO! The annoying thing was this was to prevent fraud, but this info was not passed onto the retailer. I had to call Amex who then did some security checks and the transaction cleared. Amex and other charge cards are the way to go in my view, but do be warned they can a little more picky about authorisations! Especially when this is above your normal per transaction amount and in a strange land.

]]> By: Roy http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-3975 Roy Tue, 22 Dec 2009 00:16:17 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-3975 Hmmm... Amex Plat kinds sux for what it stands for...Member since 1996 paid in full each month no probs today I got a 'not authorised' payment for a few £'s ....so I see adverts everywhere for Amex saying, it's not just for big spenders but for little things.... got the speel from Customer Services saying my average spend was low recently.. and until I clear the balance then it will be ok...exactly like the above post from Matt !!! This is crazy.. so is Amex Plat Customer Services going to bail me out when I am abroad in future...best I use cash...everyone takes that at least ! Amex can stuff their card up their jacksies from now on ! Hmmm… Amex Plat kinds sux for what it stands for…Member since 1996 paid in full each month no probs today I got a ‘not authorised’ payment for a few £’s ….so I see adverts everywhere for Amex saying, it’s not just for big spenders but for little things…. got the speel from Customer Services saying my average spend was low recently.. and until I clear the balance then it will be ok…exactly like the above post from Matt !!! This is crazy.. so is Amex Plat Customer Services going to bail me out when I am abroad in future…best I use cash…everyone takes that at least ! Amex can stuff their card up their jacksies from now on !

]]> By: MATT http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-3371 MATT Sun, 25 Oct 2009 18:50:23 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-3371 I just encountered this problem with my AMEX Gold Card earlier this week. I recieved notification that my account would be temporarily placed on "hold" due to a balance of around $900. My closing date is the 15th of each month. I owe $600 due at the end of October, and on Ocotber 17th,about $600 was spent on emergency car repair.(that 600 should be due at the end of Novemner). I have been a customer since 1986 and never been late on any payments. Once I received an email about my account being placed on "hold" until my balance is ZERO, i immediatley made a $350 payment. Today,I received a call from Customer Service saying that my account has been placed on :hold" until my balance is zero. That being said, they cant tell you what your limit is, which is just dumb; HOWEVER, they take the average of what you spent the previous 3-6 months and that is your limit; However, if you have a higher than normal monthly bill, once you pay that off, your monthly credit limit is increased. I think they should tell you what your "spending limit" is, and the person who came up with this bright idea is a prime example of a "buffoon". THIS is a bad practice!! I just encountered this problem with my AMEX Gold Card earlier this week. I recieved notification that my account would be temporarily placed on “hold” due to a balance of around $900. My closing date is the 15th of each month. I owe $600 due at the end of October, and on Ocotber 17th,about $600 was spent on emergency car repair.(that 600 should be due at the end of Novemner). I have been a customer since 1986 and never been late on any payments. Once I received an email about my account being placed on “hold” until my balance is ZERO, i immediatley made a $350 payment. Today,I received a call from Customer Service saying that my account has been placed on :hold” until my balance is zero. That being said, they cant tell you what your limit is, which is just dumb; HOWEVER, they take the average of what you spent the previous 3-6 months and that is your limit; However, if you have a higher than normal monthly bill, once you pay that off, your monthly credit limit is increased. I think they should tell you what your “spending limit” is, and the person who came up with this bright idea is a prime example of a “buffoon”. THIS is a bad practice!!

]]> By: David Weliver http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-3259 David Weliver Tue, 13 Oct 2009 16:41:30 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-3259 Hi Norman, To be honest, I'm not positive how AMEX treats your history with other cards in determining a spending limit on charge cards. My guess is that they would take your payment history on that card into account (for example, if you're late on the HHonors card, they might lower your ability to spend on the charge card). Hi Norman,

To be honest, I’m not positive how AMEX treats your history with other cards in determining a spending limit on charge cards. My guess is that they would take your payment history on that card into account (for example, if you’re late on the HHonors card, they might lower your ability to spend on the charge card).

]]> By: Norman Dea http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-3255 Norman Dea Tue, 13 Oct 2009 00:38:53 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-3255 David, You mention that "American Express determines spending limits based upon your reported annual income and your payment history with their cards." Does that history include other American Express cards? I have an extensivehistory with their AMEX Hilton HHonors Credit Card as well. Thanks for your response. Norm David,

You mention that “American Express determines spending limits based upon your reported annual income and your payment history with their cards.”

Does that history include other American Express cards? I have an extensivehistory with their AMEX Hilton HHonors Credit Card as well.

Thanks for your response.

Norm

]]> By: help4fire http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-595 help4fire Fri, 28 Aug 2009 13:11:07 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-595 AMERICAN EXPRESS BETRAID US!! IT CHANGED IS POLICY and now any card with a high limit is better than amex.... for what reason I would carry this card if I cannot pay 10K for a purshase of a client who is going to pay me in 2 weeks after installation??? is the first time this happens to me in the 8 years I've been with the card.. In fact in march 2009 I made a 10K purshase, paid it off in 2 weeks, now (5 months later) I can only use 9K!! AMERICAN EXPRESS BETRAID US!! IT CHANGED IS POLICY and now any card with a high limit is better than amex….

for what reason I would carry this card if I cannot pay 10K for a purshase of a client who is going to pay me in 2 weeks after installation???

is the first time this happens to me in the 8 years I’ve been with the card.. In fact in march 2009 I made a 10K purshase, paid it off in 2 weeks, now (5 months later) I can only use 9K!!

]]> By: DS http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-597 DS Mon, 11 May 2009 17:52:07 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-597 I have had the same issue with Amex, and I am going to can them! If you are interested in a company that doesn't randomly lower limits and has been very good to its customers, I'd check into Capital One. I have 2 of their cards and they have never ever cut me off or lowered my limits. They seem more than fair and I am very pleased with them. I guess "whats in your wallet?" really does ring true! I have had the same issue with Amex, and I am going to can them! If you are interested in a company that doesn’t randomly lower limits and has been very good to its customers, I’d check into Capital One. I have 2 of their cards and they have never ever cut me off or lowered my limits. They seem more than fair and I am very pleased with them. I guess “whats in your wallet?” really does ring true!

]]> By: Mark http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-588 Mark Fri, 13 Mar 2009 02:12:16 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-588 Same here. My $25K card with a high of $21800 went to $2000 then to $500. I called and they said to make a payment so that my medication charge would go through from Costco. Member since 1996, averaged $4000 per month use, paid off in full every month, never late. I said, hello, look at the payment history, you've gotten over $700 worth of payments in the last two weeks along, and I've send in three more. The charge will be declined because you can't keep up with my payments, how about even a tempory authorization so the meds will clear. "We don't do that anymore" was te answer. Anyone have a better company? This is rediculous. Same here. My $25K card with a high of $21800 went to $2000 then to $500. I called and they said to make a payment so that my medication charge would go through from Costco. Member since 1996, averaged $4000 per month use, paid off in full every month, never late. I said, hello, look at the payment history, you’ve gotten over $700 worth of payments in the last two weeks along, and I’ve send in three more. The charge will be declined because you can’t keep up with my payments, how about even a tempory authorization so the meds will clear. “We don’t do that anymore” was te answer. Anyone have a better company? This is rediculous.

]]> By: Andrew http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-596 Andrew Sun, 08 Mar 2009 04:19:47 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-596 I've had my Amex card for a couple months now without a problem. I've charged several hundreds of dollars at once to $1100 the other week for a new LCD, etc and assumed that I did have the "no pre-set spending limit" so I've been using it for a number of things so I wouldn't have a problem in the long run. I guess it's unsettling reading this, if any is true, that Amex seems to be misleading. Actually, just found out I have to pay my bill in full each month, lol. Of course that's not the problem, but I'd rather pay some other things off like the new car I charged on my Capital One card which seems to have no problem increasing my limit by several thousand dollars a couple times a year with excellent payment history. Hm... maybe I made a mistake in going with Amex. We will see.... I’ve had my Amex card for a couple months now without a problem. I’ve charged several hundreds of dollars at once to $1100 the other week for a new LCD, etc and assumed that I did have the “no pre-set spending limit” so I’ve been using it for a number of things so I wouldn’t have a problem in the long run. I guess it’s unsettling reading this, if any is true, that Amex seems to be misleading. Actually, just found out I have to pay my bill in full each month, lol. Of course that’s not the problem, but I’d rather pay some other things off like the new car I charged on my Capital One card which seems to have no problem increasing my limit by several thousand dollars a couple times a year with excellent payment history. Hm… maybe I made a mistake in going with Amex. We will see….

]]> By: scott http://www.moneyunder30.com/american-express-cards-do-have-spending-limits/comment-page-1#comment-594 scott Thu, 05 Mar 2009 20:25:56 +0000 http://www.moneyunder30.com/american-express-cards-do-have-spending-limits#comment-594 appears i have just been cut off @ 2k. tried to make a $37 purchase and was denied. luckily it was over the internet and not in person. ive always paid in full on time every month since 05. now suddenly i have a limit? appears i have just been cut off @ 2k. tried to make a $37 purchase and was denied. luckily it was over the internet and not in person. ive always paid in full on time every month since 05. now suddenly i have a limit?

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