zaf

I have Amex CC gold, I have asked for a credit raise but just incase they turn my request down or do not give me what I ask for, can I deposit money in my Amex to raise the spending limit?

Example:
My credit limit is 10,000. I deposit 3,000 Does that make my total spending power = 13,000 for that month?

nj4876

I think that Amex CC Gold is a charge card with no credit limit. You can spend as much as you want (but for bigger purchases make sure to call customer service agent and tell them that you are going to spend so much and make sure that they put a note and do not decline your transaction.) The only condition is that you have to pay the bill in full. You cannot carry your balances.

I am confused as you said that you have 10000 credit line. So I would suggest that just confirm with Amex and then make your purchases. As per my knowledge, you do not need to put more money to increase your credit line.

Mr. Vker

From what I understand, one cannot pay extra on an amex account throught their website to get a credit balance and thus increase spending ability.

However, you should be able to "push" a payment to them through your personal checking account for example Bill Pay through Bank of America.

singlemalt

No, you can't - whether or not you call in advance. Did you get this information from a TV commercial?

TAHKUCT

Zaf,

Please clarify what kind of gold cc you have from amex. The only Gold CC from amex is a Gold Delta.

cyrdog

Yes, you can do this. I've had several called with AMEX over the last few weeks, as my "no pre-set spending limit" has been slashed. There are 2 types of spending limits -> hard limit (based on financial review) and floating limit (based on last 6 months worth of spending patterns and usually 1-1/2 times your largest payment). Because I have a floating limit on my card, and I haven't spent a lot in the last 6 months, my spending limit has been slashed based on the recent market turmoil. In order for me to spend above my current limit (which you can only get by speaking with AMEX -> usually the account services team), I have to wire in additional money. The spending limit increases by the amount sent to them. Note that you cannot pay more than your current balance via the online bill pay feature. So you're only option is to send a check or wire the money.

arcticgrin

I have done this and it has increased my limit.

tev9999

Reports over at fatwallet indicate that Amex does not like positive balances on your account. Having it happen can trigger a fraud alert and lock up your account until they resolve it. If you are going to go this route I would make sure you call before doing so.

If it is not a single $13000 purchase you are going to make the same day, you might be better making multiple payments in the billing cycle. Charge $5000, pay $5000 a week later after it posts. Charge another $3000 then pay $3000 a week later. Charge $5000, pay $5000 a week later......

Aaron01

I was under the impression CC companies frowned upon people making frequent payments like that because it makes it seem as if they're living paycheck to paycheck, or something of that nature.

yyyccclll

agree.

have done it in the past. pay the bill by phone before your next statement arrives. then you can keep earning the points/miles.

gamer83

I fail to see how paying your card in full multiple times a month would signal living paycheck to paycheck. Seems to me like that signals you have plenty of money to pay your bill.

gamer83

Triple agree, don't mess with amex, I would not play the overpay game withthem...

lakai

careful with creating too high of a negative balance with amex. They're really sensitive about arbitrage and bt laundering. You're better off calling and asking rather than be hit with a FR

tradewinds525

I charged $50k a month ago, tried to charge $150k and it was turned down, the vender charged 1/2 and will charge the balance next month. I called to tell them I was going to charge $400k and they said I will have to send them $400k first. This is a Plat. card. They say they are tightning there credit limits a little bit.

alanh

I think it's concern over money laundering. If it's a new account, they can also be concerned with fraud -- the payment turns out to be no good.
Someone a while back reported here that an excess payment was put on hold and he wasn't able to access it right away.