FlyerTalk Forums - View Single Post - Problem using AMEX for US Savings Bonds

Mar 13, 2002 | 10:07 am

#15

dgordon

Join Date: Apr 1999

Location: Oak Park, IL

Programs: AA 2 MM LIfetime Platinum, SPG Platinum, Hilton Silver, BA

Posts: 3,585

Unlike my Citibank MC and Visa where I can prepay and restore available credit. AMEX does not let you do this. The problem seems to be - if you buy 5K in bonds, that the 5K is charged - but there is an additional HOLD of 5K (maybe a little less) which uses up 10K of available credit. If you still owe a balance from the month before, that also does not let you access your limit. So, if you have a 20K credit line, and balance from the month before of 10K, you buy 5K worth of bonds you might show no available credit even though in reality you have 5K left. If you pay the previous 10K it will restore 10K of your credit limit. Why there is an additional hold from the US GOV I do not know. I have e-mailed them about it but haven't really gotten an answer. Maybe eveyone could write complaining about the hold being put on the account.

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DtG

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