- Centurion Member
- Posts: 707
- Joined: Tue Sep 22, 2009 1:15 pm
- Location: Arizona
I got a personal (gold) amex for the first time in November to replace my UA mileage plus visa for the most part. I charge about $65k a year I would say and true to form, charges about $7500 in December on the shiny new card, which I received the bill for today and paid online. About $5000 of this was in 2 large charges for travel over the holidays and for a tuition payment to a college.
But I am reading all these horror stories online (including here) about AMEX suddenly declining charegs for no reason and so forth. It has gotten me worried enough that, when making a big purchase last night of about $1500 I whipped out the visa instead just incase since I was confident I would not have an issue with it. Of course in doing so I missed out on the AMEX points and any future higher limits based on spending.
Often when I read the horror stories closely I see things about having a late payment or spending an unusually large amount in a month, getting laid off, etc. But in many situations there seems to be no explanation.
So, does this "no preset limit" thing have any meaning? If I get busy and go a couple of months without spending much on my card is it going to come back and bite me when I try to use it for a major purchase? I have good credit and I am not new to credit. But I am neww the AMEX and I am just trying to figure out if most of these people were denied for good reasons they are not mentioning or if I shoul dbe skeptical of the card for a while.