American Express exposure limit

reclusive46

Sometimes I think American Express is crazy, they let me spend more than my reported annual income just in this one month. Sometimes I wonder if an exposure limit exists haha.

I guess the advantage with charge cards is you can spend a lot more than you would be able to on a credit card.


Does anyone else have any experience using charge cards? Did you find you could spend more or less than with the credit cards you had?

Ganga

American Express are not crazy. You will have to pay back what you have spent,if you have spent more than you can afford it may be you who is crazy.

OllyM

reclusive46 wrote: »

Does anyone else have any experience using charge cards? Did you find you could spend more or less than with the credit cards you had?

I do, and it is rather different to your experience. I think you're posting rubbish because there is no way Amex would let you spend more than your annual income in one month without it being flagged, especially as a relatively new charge card customer. I did point this out in another thread the other day but you ignored it, as you always do when I question your fantasy posts

meer53

reclusive46 wrote: »

Sometimes I think American Express is crazy, they let me spend more than my reported annual income just in this one month. Sometimes I wonder if an exposure limit exists haha.

I guess the advantage with charge cards is you can spend a lot more than you would be able to on a credit card.


Does anyone else have any experience using charge cards? Did you find you could spend more or less than with the credit cards you had?

Why does it matter ? Most ( sensible ) people would only spend what they could afford to pay back anyway.

Tiddlywinks

I use my AMEX charge card for most everyday purchases and usually pay them about £1,600 per month.

I have been with them for 16 years and have often had cause to call them if I am planning a larger than normal spend. The last time I wanted to put a large purchase on my card I called them first (in good time) and they made further checks beforehand.

They asked my bank for confirmation that I had the funds to cover the sum (which was about 4 times my normal spend) and then they were happy for the purchase to be made.

So, basically, you *could* spend more than your annual salary in a month as long as your bank is willing to confirm that you have the funds to cover it AND you have the right customer profile to support this credit line.

I very much doubt that you have even tried to do this as you have shown that you do not understand their procedures.

OllyM

Exactly, I'm convinced most of his posts are just fantasy.

A while ago he claimed that Amex had allowed him to add somebody under 18 to his account as an additional cardholder, which simply isn't possible in the UK and that somebody at Amex had removed foreign exchange charges from his rubbish no fee Nectar credit card when they won't even do this for Platinum or Centurion customers paying £450 and over £1000 a year in annual fees!

Very strange person

InsideInsurance

Tiddlywinks wrote: »

They asked my bank for confirmation that I had the funds to cover the sum (which was about 4 times my normal spend) and then they were happy for the purchase to be made.

I am surprised at the above.

Personally I am relatively new with them, did have a card 12-14 years ago though, and have an average spend of around £2,500 a month (as I put my business expenses on it).

In the first couple of months I wanted to spend 3 times it in a single transaction plus my normal and they simply said no. I offered proof from banks etc that funds were available or even offered to pre-pay it (or a proportion) and they said no.

A few months later I asked for an even larger transaction and they immediately said it was no problem at all

That said, a days after that the balance was well over 10 times my normal spend (due to an error by a merchant - same transaction put through 3 times) and the card continued to work without any issues.

MABLE

OllyM wrote: »

Exactly, I'm convinced most of his posts are just fantasy.

A while ago he claimed that Amex had allowed him to add somebody under 18 to his account as an additional cardholder, which simply isn't possible in the UK and that somebody at Amex had removed foreign exchange charges from his rubbish no fee Nectar credit card when they won't even do this for Platinum or Centurion customers paying £450 and over £1000 a year in annual fees!

Very strange person

Well we are in the silly season!

Ben8282

Although I have often spent more than my monthly salary on a chargecard in one month (foriegn travel business expenses), I have never spent more than my annual salary in a single month.

I think with Amex it depends to a great extent on the nature of the transactions rather than the amounts. For example, if you regularly travel on business and buy expensive long-haul first or business class air tickets, such charges will probably go through unquestioned as Amex will know that your employer will reimburse you while if you went into a shop and tried to spend the same amount of money on, for example, jewelry, the charge may well be questioned and possibly declined. As another reply has already pointed out, it will depend very much on your customer profile and if the spending pattern is seen as 'normal' or not plus of course their opinion as to your ability to repay.

The OP does not state what his annual income is or the nature of the charges.

Mrs_Ryan

It is actually possible for someone under 18 to be an additional cardholder as the main cardholder is the person who the credit is extended to and they are responsible for it.
Not sure if AMEX work differently here but when I worked for Capital One anyone over 14 could be an additional cardholder.

w211

Had an American Express cashback credit card for the last 6 years. Obviously paid it off in full every month.

Applied for their charge card a year or so ago. Was immediately accepted, most of my spending is now on the charge card, with a similar monthly spend to the credit card (between £1,000 and £2,000).

Don't see how anyone can be silly enough to put something on their charge card with no means of paying it back.

Mrs_Ryan wrote: »

It is actually possible for someone under 18 to be an additional cardholder as the main cardholder is the person who the credit is extended to and they are responsible for it.
Not sure if AMEX work differently here but when I worked for Capital One anyone over 14 could be an additional cardholder.

When I was 16 I was a cardholder on my dad's Barclaycard.