Actually, you have "no preset spending limit" which is not the same as "no credit limit". All American Express charge cards (Green, Gold, Platinum and Centurion) have this feature. There is an unpublished limit, but American Express will evaluate charges which would exceed it. VISA and MasterCard also issue cards with this feature.
Thanks for the explanation - I have never really paid much attention to how credit cards work. Might pay attention if I ever got turned down for one
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American Express is introducing this feature on the Platinum Card in late March.
Yes - someone brought that to my attention in another thread. Still - the Capital One card is free. So it's nice keeping it around. With CO leaving AMEX - I may get rid of the Continental MC - and start using the Capital One card for those places that don't accept AMEX.
Credit bureau has no way of knowing whether anyone carries a balance. The bank reports the balance each month and the FICO formula compares that amount to your "available credit" to calculate a "utilization ratio". Ironically, putting most of your spending on cards with no preset spending limit may have hurt your score because the balance appears, but no limit is reported. The FICO formula has been revised to treat charge card balances differently now.
More thanks for the explanation.
Absolutely. Mrs mia has had her own card accounts since before we were married in 1975.
Another old married couple like us (married in 1971) ^^.
I am allergic to economy class air travel
. On which airline are you trying to redeem?
I have the same allergy
. I was looking around for BF/FC tickets to China. Mostly on CO. Hard to get. Tons of miles on the best routings (if any tickets were available at all). And the "cheap" reward tickets had horrible routings (I don't like 6 am flights - or 3 stop flights - etc.) Anyway - my husband is having some mobility issues now - so I decided to put that trip on the backburner. Maybe next year if he's up to it. And FC even if we have to pay for tickets (I'll be going on Medicare next year - and saving a fair amount of money on medical expenses). Did wind up using some miles for 2 BF tickets to LAX later this year. On Delta. No problem. We're going to celebrate our 40th anniversary - and I am really sick of flying on CO Embraers (although a flight to EWR this spring will - if I recall correctly - be on an Embraer - but that's a pretty short flight). Robyn