Increasing AMEX credit limit

MaryJo

I have an American Express Platinum Cashback card which I have used for 12 months now.

The credit limit is £2000. Most months I use around £1000-£1500 and I always repay the full amount via direct debit.

I would like to increase the amount as much as possible. Given that I never spend what I don't have in my bank account, and always pay the card in full, it makes sense to have the highest amount possible - to give me maximum flexibility should I ever wish to make a big purchase e.g. a car.

Is there any problem with going to AMEX and saying "Could you increase my credit limit to £30,000?" If they say "No", can I just go back with a counter offer of £15,000? Am I missing anything important?

[Deleted User]

You could ask for an extra grand or two. Particularly if you have a big spend coming up. But not much point in doing it if you don't need it right now. They could well just reduce it a few months later.

And no point in looking over committed if you want other credit later down the line.

hillendale

Hi
I have an Amex Platinum card had it for around 3 years started with a £9K
credit limit and they have recently increased it to £17k
I,ve used it regularly since I first got it but never up to the limit.

Ben8282

Asking for a credit limit of £30,000 would not be a good idea. However, what you could do is call them and explain that your current credit limit is too restrictive when compared to your average monthly spend. Try to check what your highest actual (not statement) balance (i.e the balance immediately prior to your monthly direct debit being taken) was and ask for an increase on this basis.

Also, if you want to buy a car costing £30,000, a credit card is the last place to borrow that sort of money!!!