Spending power vs pay over time limit

Old Feb 3, 21, 10:38 am
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Spending power vs pay over time limit

Is there any particular reason to think your spending limit is lower than your available pay over time limit? I have never clicked on any spending power button. The Platinum is my first charge card.
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Old Feb 3, 21, 10:53 am
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Originally Posted by vanillabean View Post
....spending limit is lower than your available pay over time limit? ....
I think the limit for an individual transaction could be lower if the amount is exceptional for your history in the merchant category (or for the norms they use if you have no history.) $30,000 at a jeweler is different than $30,000 at a supermarket.
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Old Feb 3, 21, 5:36 pm
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Based on personal experience, they are definitely different, possibly by a very large amount. Pay over time limit is just a somewhat arbitrary upper limit Amex establishes when you sign on for the pay over time feature. It is not the equivalent of a credit limit, which with Amex can be highly variable month to month or even transaction by transaction.
Originally Posted by mia View Post
$30,000 at a jeweler is different than $30,000 at a supermarket.
Just because Amex has set a pay over time limit of, say $30,000, does not mean they would ever authorize charges up to that amount, regardless of merchant or transaction type.
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Old Feb 3, 21, 6:06 pm
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Originally Posted by Kacee View Post
Just because Amex has set a pay over time limit of, say $30,000, does not mean they would ever authorize charges up to that amount, regardless of merchant or transaction type.
I would imagine though that a need to check your spending power is outside the scope of the signup bonus requirement?
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Old Feb 3, 21, 11:28 pm
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Originally Posted by vanillabean View Post
I would imagine though that a need to check your spending power is outside the scope of the signup bonus requirement?
Sorry, I'm not following.
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Old Feb 3, 21, 11:55 pm
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I mean, it would seem unlikely that Amex would approve you for a card if you need to check your spending power in order to earn the signup bonus. Yet at the same time, I have read at various places that you build up your charge card spending power little by little, cautiously over time.
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Old Feb 4, 21, 6:58 am
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Originally Posted by vanillabean View Post
I mean, it would seem unlikely that Amex would approve you for a card if you need to check your spending power in order to earn the signup bonus.
No that wouldn't make much sense. I wasn't really talking about 4 figure limits though. Amex set my initial pay over time limit at $35,000 and it's never moved from that. I do know there have been times they wouldn't let me charge over a threshold that was less than 50% of that. I suspect now they might let me go higher (but have no plans to test that).
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Old Feb 4, 21, 1:08 pm
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Originally Posted by vanillabean View Post
I mean, it would seem unlikely that Amex would approve you for a card if you need to check your spending power in order to earn the signup bonus.
My wife's Marriott Bonv°y AmEx business card has a $3,000 "credit limit", so we had to pay it off early to meet the $5,000 spend required for her sign-up bonus (SUB) of 100,000 Marriott points.
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Old Feb 6, 21, 8:30 am
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Originally Posted by vanillabean View Post
I mean, it would seem unlikely that Amex would approve you for a card if you need to check your spending power in order to earn the signup bonus. Yet at the same time, I have read at various places that you build up your charge card spending power little by little, cautiously over time.
Highly doubtful you would even qualify for a Platinum card if Amex was worried about you making a $5000 purchase
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