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BA American express premium plus - pre-overpayment

BA American express premium plus - pre-overpayment

Old Apr 11, 2018, 9:38 am
  #16  
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I've done this for work with a newly setup card. The initial limit was low, but we needed to use it for a large amount of charges related to setting up a new office. We prepaid a large amount and AMEX had no issue with this, and then after a certain amount of time (90 days I believe) automatically refunded the slight overpayment that was left after that point. By that time the card had been used enough for the initial low limit to be removed.
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Old Apr 11, 2018, 9:40 am
  #17  
 
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Originally Posted by pebadian
I have actually done exactly that and can confirm it works.

I've transferred the amount via bank transfer onto the account details that amex provides in the FAQ/Help section. You'll then basically be in "plus" and can pay something worth the "plus" and your normal credit limit (So you transfer 7k, you have a 5k limit, you can spend 12k)

It worked roughly a year ago, I wouldn't know why not anymore
I'll second that. If you pay via bank transfer the credit is fairly immediate so you'll have the balance plus your credit limit to spend.
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Old Apr 11, 2018, 9:50 am
  #18  
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Thanks all - have applied (successfully) for the card and will see what credit limit it comes with.

I will then, before making the purchase, tell Amex what I am about to do.

Worst case scenario I can use my shiny new Amex for some of it, and put the rest on another card,
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Old Apr 11, 2018, 10:10 am
  #19  
 
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American express will not allow you to go into credit. I have tried this a number of times but the system just reject the payment.

Amex are however generally very accommodating so the best course of action is to call them.
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Old Apr 11, 2018, 10:11 am
  #20  
 
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I seem to recal reading somewhere that if you load your card in advance to pay for something over and above your credit limit that your statutory rights are disadvantaged in some way..

If your limit was 5k and you prepaid £7k on the card to make a 12k purchase then your (S75?) rights are based on 5k not 12k..

I did try to google this but am travelling and on my mobile so failed to find the details..
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Old Apr 11, 2018, 10:14 am
  #21  
 
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You can go into credit by sending money via. a bank transfer instead. The system can't reject that and you're available credit will display a number higher than your credit limit.
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Old Apr 11, 2018, 10:51 am
  #22  
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Recently got a BAPP Amex here and my limit isn't in the 5 digits.
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Old Apr 11, 2018, 10:54 am
  #23  
 
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From what I have learnt the credit limit typically approved is 1.5x gross monthly Salary as a credit limit and as has been mentioned before to get more cash available bank transfer the money to AMEX account so it gets an inflated positive then make the required purchase.

Simple

Last edited by cgtechuk; Apr 11, 2018 at 2:50 pm
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Old Apr 11, 2018, 11:37 am
  #24  
 
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Originally Posted by sunshinebob
I seem to recal reading somewhere that if you load your card in advance to pay for something over and above your credit limit that your statutory rights are disadvantaged in some way..

If your limit was 5k and you prepaid £7k on the card to make a 12k purchase then your (S75?) rights are based on 5k not 12k..

I did try to google this but am travelling and on my mobile so failed to find the details..
This is incorrect, your section 75 rights apply to the entire purchase when the card is used to pay at least £100 of the cost and the total purchase price is £30,000 or less. If, for example, you were purchasing a £25k car, you can pay a £100 deposit on your credit card and your protection extends to the entire £25k, regardless of who the other £24,900 was financed.
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Old Apr 11, 2018, 2:40 pm
  #25  
 
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Originally Posted by binman
American express will not allow you to go into credit. I have tried this a number of times but the system just reject the payment.

Amex are however generally very accommodating so the best course of action is to call them.
Originally Posted by CountryKerry
You can go into credit by sending money via. a bank transfer instead. The system can't reject that and you're available credit will display a number higher than your credit limit.
Yes, That's how I use my Amex. Basically as a debit card, and then at the end of the day, total up what I've spent from the pending section, and make a bank transfer.
The credit limit will normally show as the full amount, but will be a negative balance.

Originally Posted by zsc
Recently got a BAPP Amex here and my limit isn't in the 5 digits.
Snap. Had a one off £400 increase on my limit since 2013, but still below 10K

Originally Posted by cgtechuk
From what I have learnt the credit limit typically approved is 1.5x monthly Salary as a credit limit and as has been mentioned before to get more cash available bank transfer the money to AMEX account so it gets an inflated positive then make the required purchase.
I need to write to my HR, and tell them my salary should be that then!
Or I guess I'm not typical...
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Old Apr 11, 2018, 3:21 pm
  #26  
 
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I have a fairly small limit on my Amex by choice but if I need to make a large purchase, a bank transfer generally impacts on the limit in 2-3 hours and I've never had any problems using the card that way. Never had to call Amex - I just do it.
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Old Apr 12, 2018, 5:09 am
  #27  
 
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They're pretty flexible in my experience. A friend's son got the BA Amex (student, age 19, no job) with a credit limit of £6k from the start. He called them and said he wanted to put a car purchase through costing £8k, and they upped his credit limit to £10k without question.
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Old Apr 12, 2018, 5:29 am
  #28  
 
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Originally Posted by seattle29
They're pretty flexible in my experience. A friend's son got the BA Amex (student, age 19, no job) with a credit limit of £6k from the start. He called them and said he wanted to put a car purchase through costing £8k, and they upped his credit limit to £10k without question.

Like anything else I would put a lot of this down to risk, I have seen people limits drop as well as go up. Anyway buying a car with a Credit Card doesnt sound like a great choice, But hey who am I to question others.
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Old Apr 12, 2018, 5:32 am
  #29  
 
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Originally Posted by cgtechuk
From what I have learnt the credit limit typically approved is 1.5x gross monthly Salary as a credit limit and as has been mentioned before to get more cash available bank transfer the money to AMEX account so it gets an inflated positive then make the required purchase.

Simple
In that case my monthly salary should be roughly £33,100!
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Old Apr 12, 2018, 5:41 am
  #30  
 
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Originally Posted by se1lad


In that case my monthly salary should be roughly £33,100!

Typically being the word I used, it is obviously dependant on other factors
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