How do I find out spending power on Amex?

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MemberSince99
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Postby MemberSince99 » Thu Jun 06, 2013 7:52 pm

Maybe that's the max you can have, 1.5x income? You could be right about that, maybe it's a rule of thumb that after so long you can get to that? You could very well be right there.


VisaSpeak
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Postby VisaSpeak » Thu Jun 06, 2013 7:52 pm

The thing is, my 1st use of the card will likely be a $1,000 suit or so. I dont want to be declined.

Robrus1
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Postby Robrus1 » Thu Jun 06, 2013 7:52 pm

Call them and ask them. Until you have established a few months of good payment/spend history, it's not going to be super high. Just like any card, if you try to put a 10K transaction on there the first day you get it, it's not going to happen unless you have called them first, and have good history with the lender already through other cards.
Amex Platinum
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Barclaycard Arrival Plus WEMC 5K
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Robrus1
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Postby Robrus1 » Thu Jun 06, 2013 7:55 pm

VisaSpeak wrote:The thing is, my 1st use of the card will likely be a $1,000 suit or so. I dont want to be declined.


Yeah just call and say you're about to buy a suit and spend approx $1K and wanted to let them know since your first transaction will be a fairly large dollar amount. You shouldn't have any problems.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

VisaSpeak
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Postby VisaSpeak » Thu Jun 06, 2013 7:57 pm

Robrus1 wrote:Yeah just call and say you're about to buy a suit and spend approx $1K and wanted to let them know since your first transaction will be a fairly large dollar amount. You shouldn't have any problems.



Knowing a large company like this, something will still probably go awry.

MemberSince99
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Location: WI

Postby MemberSince99 » Thu Jun 06, 2013 8:06 pm

Seriously - just wait till you activate the card, then put in 1000 or 1500 and see if it would be approved. If it says yes, you are good. I'm not sure what your concern here is?

Robrus1
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Postby Robrus1 » Thu Jun 06, 2013 8:31 pm

MemberSince99 wrote:Maybe that's the max you can have, 1.5x income? You could be right about that, maybe it's a rule of thumb that after so long you can get to that? You could very well be right there.


Are you guys referring to a possible max monthly spend formula? Ex. John Smith makes 5K a month, then his monthly spend cap would be 7.5K.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

benhollberg
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Postby benhollberg » Fri Jun 07, 2013 12:56 am

Just for reference, AMEX knowns my income but with that check spending ability feature I have put in over double my income and it was approved. I have the PRG, I have put in over $90,000 and it says it will be approved. With that being said, I also charge business purchases as a AU on the same account, so my monthly bill is at least $10k each month.
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VisaSpeak
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Postby VisaSpeak » Fri Jun 07, 2013 8:23 am

so you could basically buy a car with your AMEX?

MemberSince99
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Postby MemberSince99 » Fri Jun 07, 2013 8:27 am

VisaSpeak wrote:so you could basically buy a car with your AMEX?


Sure if you have the money to pay it when the bill comes due, and if the dealer will let you (few will due to the fee). Some people do it.



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