Originally Posted by
Centurion
Banks set ATM withdrawals limits. I am sure you have heard all the Costco jokes about how hard it is to walk out of Costco without spending less than $500. The Costco in Scottsdale AZ has the one of highest sales per store in the USA so in Canada it could be different.
You are argument is from a single person point of view. I am talking about families, couples, businesses that are run like a business. You ignored the fact that Amex advertises sells promotes their products to be used for everything.....Countless advertisements tellling you to estentially put everything on your Amex. So getting back to the point of FR not being warranted I agree with this guy Harlem....
Originally Posted by Harlem
Here are some parameters.
First - if a guy walks into Costco thinking he has $200K of availability and is current on his payments of all 12 of his AMEX cards. Don't freeze his accounts.
Next - if a guy pays off his balance every month (even on credit cards) and there are no negative changes in his credit score then no FR.
Next - if a guy has never used more than 1/3 of his total availability (and his credit score hasn't changed) then no FR. (You reviewed him enough to give him the credit in the first place so don't back out on him now).
I'm glad you agree with Harlem, and if you follow my advice and carry a network/partner Amex from Citi or Penfed, you'll never have to worry about being stranded in a Costco (or anywhere else for that matter).
You keep coming back to the "no change in his score". The F/R has to be triggered by
something. My personal belief is that a negative change on a Experian report caught in their almost monthly A/R reviews and/or unusual spending are the #1 reasons for the F/R.
But it is moot to argue, as we can only guess, and Amex isn't talking.
If you can't pass the F/R, you likely have bigger issues to deal with.