Exposure Limit

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Reclusive46
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Exposure Limit

Postby Reclusive46 » Tue Jul 17, 2012 6:51 pm

Hi,
I have had a credit card with Amex with an equivalent of about 12000 dollar credit limit for a while now (Max you can get on my card) and I want to take out a personal gold Amex. What kind of exposure limit can I expect to get on it?
Amex UK Platinum Charge Card
Amex Blue Cash USA
Amex US Gold Corporate Card
World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)


CC Deville
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Postby CC Deville » Tue Jul 17, 2012 7:27 pm

Mind you, it is hard to say what would happen with a UK based Amex. Despite being an American company, Amex UK is required to follow rules and regulations set forth by the UK government. Just as HSBC and RBS has to follow the rules and regulations of the US when they do business here; and this can be dramatically different than the UK and vice versa.

Here in the US, Amex bases "esposure" limits, or maximum spending limitson charge cards based on a variety of factors such as income, assets, debt to credit ratios, spending patterns and previous experience on other Amex products. On Amex's US account online website we have the ability to check spending availability...one would click the link, enter the amount one wishes to spend and the website would let you know if you are approved or not. These limits can change from month to month based on their risk analysis of your credit file at that time.

If you have good credit, a good income and good previous experience with Amex, you shouldn't have any trouble spending up to 5,000 pounds or more each month. I would advise on building up to that; however, when the card is new as to not scare them.

Reclusive46
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Postby Reclusive46 » Tue Jul 17, 2012 8:19 pm

Well thanks for that. I've applied and it got referred but I expected that as I have a CIFAS marker on my credit file because someone commited identity fraud using my name 10 months back, so they will probably have to verify my identity.
Amex UK Platinum Charge Card

Amex Blue Cash USA

Amex US Gold Corporate Card

World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)

Reclusive46
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Location: UK

Postby Reclusive46 » Thu Jul 19, 2012 10:32 pm

I got approved after some ID checks (= I guess there really wasn't much chance I'd get declined though lol
Amex UK Platinum Charge Card

Amex Blue Cash USA

Amex US Gold Corporate Card

World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)

Money card
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Postby Money card » Fri Jul 20, 2012 2:00 am

I would say what's your limit on your lending cards? If for example let's say your Nectar card is 6,000 and your airlines card is 6,500, I would guess your limit is 7,000 just my guess.

Reclusive46
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Postby Reclusive46 » Fri Aug 17, 2012 2:34 pm

Update: I just managed to book a holiday to New York (Costing £4500 for the whole family) along with my normal monthly spend of about £2000. So doesn't look like I'll have any trouble in the future. I do wonder if because it was with the Amex travel agency if that made any difference but got an Amex travel agency cardmember special. The flight and hotel cost combined was cheaper than just the cheapest flight I could find with any other airline or travel agency for my family of 6. I feel like I got a real bargain and I am now happy at the same time that the exposure limit will not be bothering me.
Amex UK Platinum Charge Card

Amex Blue Cash USA

Amex US Gold Corporate Card

World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)

DavidNY
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Postby DavidNY » Fri Aug 17, 2012 4:50 pm

New York is a cool place. Not that I'm biased or anything.

Reclusive46
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Location: UK

Postby Reclusive46 » Tue Aug 21, 2012 8:25 am

DavidNY wrote:New York is a cool place. Not that I'm biased or anything.


Haha just a tad :P

On a side note: Something I noticed is that the probationary period in the first month where payments can't be made does not exist in the UK. You can make payments from the second you get the card.
Amex UK Platinum Charge Card

Amex Blue Cash USA

Amex US Gold Corporate Card

World MasterCard Capital One UK (Free abroad + Cashback + Free Cash Withdrawals with no interest)

DavidNY
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Postby DavidNY » Tue Aug 21, 2012 5:14 pm

I've never heard of a "probationary period" when payments can't be made.

Credit card issuers are happy to accept payment as long as there's a balance due. The only time they don't like taking a payment (online at least, I haven't tried this via snail mail) is when there's nothing to pay, so they wouldn't accept a payment the second you get the card but once a transaction clears you are welcome to pay it off should you choose to do so.



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