Problem with AMEX hold on credit limit when buying bonds
Oct 31, 2003 | 10:22 pm
#16
Join Date: Jan 2000
Location: Northern California
Programs: Inf Elite CO, lifetime AA Platinum
Posts: 1,937
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">I also had a similar problem with AMEX saying I was over my credit limit. After I sent them brokerage account statements, which they verifyed, showing substantial liquid net worth, my limit was raised way into 6 figures. </font>
And this happened to me twice, like others. I didn't know about the ability to e-mail the US Savings bonds people. Both times I was denied repeatedly, and was told by Amex that it would take at least three weeks to clear up the duplicate hold. What a pain.
Nov 1, 2003 | 8:19 am
#17
Join Date: Jul 2001
Location: Flyover Country, USA, NW Silver, Hilton Gold
Posts: 518
My measly 5K savings bond purchase had already processed, as assured to me by the Amex rep early the next morning. The charge was on a Hilton card with a CL of $13500 and was the only charge on it.
In my case, Amex wasn't interested in assets, only income and my card is an Optima.
In my case, Amex wasn't interested in assets, only income and my card is an Optima.
Nov 1, 2003 | 9:20 am
#18
Join Date: Apr 1999
Location: Cambridge, MA 02138
Posts: 2,104
on 10/28/03, I purchased $10k of bonds, and my credit limit was $10k. (I actually had a $500 credit balance from an overpayment the month before). I've checked online and my bond purchases have been posting and I've had no problem buying things elsewhere (ie: supermarket). So, I guess this extra 'hold' that AmEx has been placing on people's account isn't across the board.