Originally Posted by
fliesdelta
I was told recently (two months ago) that they look at the last six months of expenses and payments to determine the limit. During the same call I was told that my pay over time limit was $75K and "that should give me an idea of how much I can spend between payments". I started my business with Amex with the green card in 1986, over time it got upgraded to gold in 1990 and eventually to platinum. Besides it, I have the Delta Plat Amex ($50K CL), and over the years I've had corporate Amex cards from a few employers. I've never had any problems like late or bounced payments, and I've never exceeded the credit line on the credit cards (the Delta card I just mentioned and I did have an Optima at one point, when it first came out). My FICO score is 820 currently.
I'm trying to recall if the $100K restriction were because of our bank's (Chase at the time) bill pay restrictions or with our card. I just recall our account manager having to make multiple $90K+ payments per month, but really didn't think much of it at the time. I mean, it wasn't as if I had to bother with it. This was in 2008 when a group of us left our employers to start a new enterprise, and I wouldn't rule out Amex harboring some healthy skepticism over our newly launched in the middle of a recession zero credit history Firm's "willing and able" to repay our future debts. I do recall though on our business credit cards, we'd routinely charge over the static limit where we'd always paid in full.
Originally Posted by
gengar
This isn't true for me currently - checking my spending power via the website suggests a limit that's higher than it's ever been, but I've spent virtually nothing on the Plat in the last 12 months. I actually had a credit balance for most of 2020 from all my refunded travel, until I requested a check. I suppose it's possible that the spending power checker is inaccurate, or that AMEX is using a different algorithm given the pandemic.
On my personal cards, I'm not even sure if Amex knows I'm alive. I recall when I first knew of that button, I kept checking. Our account manage had to remind me the button isn't a toy and not to treat it like one. After that, I've more or less stop utilizing the button. I can't recall ever having a charge declined based purely on the amount of the transaction.