How does a no preset spending limit work?

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MemberSince99
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Postby MemberSince99 » Sun Jun 03, 2012 8:44 pm

Basically you guess and pray.

Just kidding, though it seems a bit that way sometimes. Anyway they have a button online that says "check your spending ability", you put in an amount and see if you would be approved. I caution you, if you use it, don't go nuts on it, I've heard of people getting FR'd for going crazy on that button. Just put in say 5k or 10k see if it's approved and if so you are good. You can also call and ask if you'd be approved for say 5k or 10k.

From what I saw you can't make payments before your statement cuts the first month then after that you can pay as much as you like. That's how it was for me anyway.

I'd say to get off to your best start with them just spend as you normally would and you'll be fine.


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FastSRT8
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Postby FastSRT8 » Sun Jun 03, 2012 8:58 pm

Just try and run a large amount (which you can pay of course) and see if it goes thru. IF it doesn't it's just one quick phone call to confirm the charge and bam it's thru.

Ive ran loads of large charges thru my card without an issue. Heck really impressed where the card immediately reads 'approved' on the terminal THEN it dials out :o I just paid for my custom home stereo and the $25k bill approved in a second.
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thomaswhitehall
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Postby thomaswhitehall » Sun Jun 03, 2012 9:35 pm

I would think depends on income, credit score, and history with Amex. I've personally seen people making under $70K/year get approved for a $10k transaction for a down payment on a car.

I would think with $5k-10K/month perhaps call up Amex to see if you can provide them with bank statements, tax returns, etc. to insure they will approve your transactions no problem. I'm sure they would love the transaction fees

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Postby tinninches » Mon Jun 04, 2012 6:11 am

I was just approved for the Zync w/ NPSL (still shocked over that one..) and the guy stated that the "system" will learn your spending habits over-time, thus increasing your buying power over-time.

He said that if such a time arrived that you needed to make a much larger purchase outside of your normal spending habits, to call, and it would go through.
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Ratfacedudeguy
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Postby Ratfacedudeguy » Mon Jun 04, 2012 12:06 pm

It definitely varies with each person's individual situation. With my so-so credit score and $30k annual income, my initial spending limit was set around $1500 - $1600. So far I've done everything within my power to increase that spending limit -- made large purchases, spent almost twice my spending limit within the first (shortened) statement cycle paying down the full balance within the first week of activation (even though it says you can't do that online), etc. That's all stuff that they like to see from what I've gathered, so if you hold yourself to a similar model you should be fine.

Keep in mind also that they do have a 30-day probationary period for new Cardmembers in which case you do not have the ability to pre-pay your account to bring it to a credit balance, and during this period you may not see much of an increase to your spending limit.
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PlatinumAMEX94
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Postby PlatinumAMEX94 » Mon Jun 04, 2012 12:13 pm

thomaswhitehall wrote:I would think depends on income, credit score, and history with Amex. I've personally seen people making under $70K/year get approved for a $10k transaction for a down payment on a car.

I would think with $5k-10K/month perhaps call up Amex to see if you can provide them with bank statements, tax returns, etc. to insure they will approve your transactions no problem. I'm sure they would love the transaction fees


American Express is not so much concerned with your net INCOME when you have a significant net WORTH. Some people don't really work, and get paid residuals, royalties, and so on that require an actual job.

And I understood that ALL Centurion cards are approved for at least 100k, unless you are Lindsey Lohan. LOL. American Express actually sued her and took that bad boy away from her.
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Postby neilyoung » Mon Jun 04, 2012 12:23 pm

Thanks guys. I checked my spending ability for $5K and it said approved. I should be good to go for now.

I paid off my balance from the first week to make sure my banking information was setup correctly. It allowed me to do so even though I've only had the card for about a week as an FYI.

MemberSince99
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Postby MemberSince99 » Mon Jun 04, 2012 1:56 pm

PlatinumAMEX94 wrote:American Express is not so much concerned with your net INCOME when you have a significant net WORTH. Some people don't really work, and get paid residuals, royalties, and so on that require an actual job.

And I understood that ALL Centurion cards are approved for at least 100k, unless you are Lindsey Lohan. LOL. American Express actually sued her and took that bad boy away from her.


She's got more problems than just losing her Centurion to deal with, sadly. Staying out of jail might be the biggest one.


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FastSRT8
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Postby FastSRT8 » Mon Jun 04, 2012 2:18 pm

She (Lindsay) had to much going for her. Too bad she didn't have the right guidance to ensure she doesn't piss it all away.
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Postby Crashem » Mon Jun 04, 2012 2:37 pm

Centurion cards have no more limit than any other amex charge card. Its all based on their internal formula. You can pay several times a month (even in first month by calling them) to boost your internal limit quickly. I got mine from around 3ishk to at least 70ishk within 3 months.
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