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Old Jun 24, 04, 7:06 pm   #1
 
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Angry Amex Won't Let Me Overpay My Account

AMEX WON'T LET ME OVERPAY MY ACCOUNT :-(

I have recently applied for an American Express Platinum (Credit Card as I don't qualify for Charge Card) with AMEX in Canada and got a pathetic credit limit of only CAD8000.

I called AMEX to inquire about putting a credit balance of CAD11000 on my account so that I can buy a First Class ticket. Their answer was that any credit balance over CAD500 on my account would freeze my card (They used "to prevent money laundering" as an excuse. Well, how can this be an issue as all credit card transactions have a "paper trail"? While those who actually want to launder money can do so through other means that don't leave such a clear "paper trail"?)

So, frustrated by AMEX, I have decided to pay for my ticket using my Royal Bank Avion Platinum card (with a credit limit of CAD9000), where RBC actually allows me to put a credit balance (by transferring funds from my RBC Savings Account to my Visa) of any amount on my card so that I can make a purchase over my credit limit. Plus I get 11,000 AAdvantage or BA Executive Club miles! (Do you think having an account with the same bank where you have a credit card helped in my case?)

So, to sum things up, I HATE AMERICAN EXPRESS!!

Anyone want to share your frustrations? I know that some people with CHARGE CARDS get their purchase declined because of AMEX'x "exposure limit" applied to them

The only reason why I applied for a Platinum American Express Credit Card was to have something to "flash" around (looks good when I flash it around people who CAN'T TELL the difference between a CHARGE CARD and a CREDIT CARD).

Last edited by daniellam; Jun 24, 04 at 7:10 pm.
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Old Jun 24, 04, 9:12 pm   #2
 
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Quote:
Originally Posted by daniellam
[color=DarkRed]The only reason why I applied for a Platinum American Express Credit Card was to have something to "flash" around (looks good when I flash it around people who CAN'T TELL the difference between a CHARGE CARD and a CREDIT CARD).
I do hope you're only joking here...
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Old Jun 24, 04, 9:16 pm   #3
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Quote:
Originally Posted by daniellam
The only reason why I applied for a Platinum American Express Credit Card was to have something to "flash" around (looks good when I flash it around people who CAN'T TELL the difference between a CHARGE CARD and a CREDIT CARD).
Oh



my



goodness.
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Old Jun 24, 04, 9:26 pm   #4
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Look at his card... it is ... so ... big!
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Old Jun 24, 04, 9:45 pm   #5
 
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From his previous posts he isn't joking I am afraid

The money laundering is not not an excuse it is policy by AMEX in many countires. The UK also has the same policy.
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Old Jun 25, 04, 3:46 am   #6
 
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Oh my God ...
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Old Jun 25, 04, 7:13 am   #7
 
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I thought initially from his previous *****ing that this guy had been embarassed by having an Amex charge card declined in front of a VIP.

But actually it does seem that scenario was ultimately just a fantasy.

What a prat.

Last edited by NickW; Jun 25, 04 at 7:19 am. Reason: Inelegant phrasing
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Old Jun 25, 04, 7:37 am   #8
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Quote:
Originally Posted by daniellam
AMEX WON'T LET ME OVERPAY MY ACCOUNT :-(

I have recently applied for an American Express Platinum (Credit Card as I don't qualify for Charge Card) with AMEX in Canada and got a pathetic credit limit of only CAD8000.

I called AMEX to inquire about putting a credit balance of CAD11000 on my account so that I can buy a First Class ticket. Their answer was that any credit balance over CAD500 on my account would freeze my card (They used "to prevent money laundering" as an excuse. Well, how can this be an issue as all credit card transactions have a "paper trail"? While those who actually want to launder money can do so through other means that don't leave such a clear "paper trail"?)

So, frustrated by AMEX, I have decided to pay for my ticket using my Royal Bank Avion Platinum card (with a credit limit of CAD9000), where RBC actually allows me to put a credit balance (by transferring funds from my RBC Savings Account to my Visa) of any amount on my card so that I can make a purchase over my credit limit. Plus I get 11,000 AAdvantage or BA Executive Club miles! (Do you think having an account with the same bank where you have a credit card helped in my case?)

So, to sum things up, I HATE AMERICAN EXPRESS!!

Anyone want to share your frustrations? I know that some people with CHARGE CARDS get their purchase declined because of AMEX'x "exposure limit" applied to them

The only reason why I applied for a Platinum American Express Credit Card was to have something to "flash" around (looks good when I flash it around people who CAN'T TELL the difference between a CHARGE CARD and a CREDIT CARD).
This is a load of crap. I have had as much as 7,500 USD credit with Amex when I over paid.

I have a 25K limit, I was buying a piece of machine that was like 32K (for my company) so I wanted the personal miles of course My vendor took Amex, cash or Amex was the same price .....so guess which way I wanted to go.....well i didnt have a 32K ava. balance, so I just over paid, called Amex Execuitive Office in NYC, they said no problem......so I went to do the charge, it got flagged on their machine.....I was like sh*t......so they call their merchant account.......with in 30 seconds it was all done......I later that day did get a phone call from Amex to check the validity of this charge, told them its accurate, look at the records & notes on the system, said than you sir....

I also did this in college....when I was 18, I got a visa with a 2K credit, I had to pay for books/admission fees etc.....it was going to run like 4.5K I just over paid, that was a pain to get done, but it all got done...

In short, call the Amex execuitive office in NYC, ask for a senior customer service agent, I am sure they can make it happen...

Just for kicks, if I were you, I would overpay buy 11K CDN, and see what happens....

Ric
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Old Jun 25, 04, 7:43 am   #9
 
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I have prepaid by AMEX many times. Of course, I have always called them in advance. Usually, it is done when I am traveling overseas for 4-6 weeks.
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Old Jun 25, 04, 8:43 am   #10
 
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Perhaps AMEX only allows their important customers to overpay?
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Old Jun 25, 04, 10:23 am   #11
 
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interesting issue. I guess I've always just had the charge card with them. I have before done deals where another credit card was having some great interest rate deal like "3.9% for the length of your charge on purchases and balance transfers only" and I've transferred over $10,000 of a "balance transfer" from AmEx to the VISA - so I got the $10,000 on the VISA at 3.9% and then ended up with a $10,000 credit on AmEx which they promptly sent me a check for. A good way to get a cash advance at a great rate if you have the time - for 3.9%, I invested the cash assuming I could do better than that in the market and have the liquity at the same time.
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Old Jun 25, 04, 2:09 pm   #12
 
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Quote:
Originally Posted by Morrissey
Perhaps AMEX only allows their important customers to overpay?
That makes sense -- I've been able to overpay on several occasions, and I'm pretty important.
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Old Jun 25, 04, 3:15 pm   #13
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Quote:
Originally Posted by lawgirl28
interesting issue. I guess I've always just had the charge card with them. I have before done deals where another credit card was having some great interest rate deal like "3.9% for the length of your charge on purchases and balance transfers only" and I've transferred over $10,000 of a "balance transfer" from AmEx to the VISA - so I got the $10,000 on the VISA at 3.9% and then ended up with a $10,000 credit on AmEx which they promptly sent me a check for. A good way to get a cash advance at a great rate if you have the time - for 3.9%, I invested the cash assuming I could do better than that in the market and have the liquity at the same time.
lawgirl...that is a GREAT idea...I never thought about doing something like this.....wow.....you learn something everyday.....
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Old Jun 29, 04, 9:29 pm   #14
 
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Your bank account info has to be at least 30 days old to overpay an AM EX account. They do not allow you to input a new bank account number and pay whatever you think is appropriate, It is designed to protect the consumer from bank account fraud.
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Old Jun 30, 04, 12:54 am   #15
 
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Quote:
Originally Posted by CT-UK
From his previous posts he isn't joking I am afraid

The money laundering is not not an excuse it is policy by AMEX in many countires. The UK also has the same policy.
But Amex does allow you to overpay your UK Platinum Charge Card, if necessary - a purchase which may be greater than your 'exposure' limit being a case in point.
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