Amex charge cards

Discussion in 'Credit Talk' started by Saar, Aug 30, 2001.

  1. Saar

    Saar Banned

    Here's a nice post by kanebear.
    (Source: )

    "The internal term for your 'credit limit' on an AMEX charge (pay off in 30 days) card is called the 'exposure limit'. I think ya'll are right about it being 50% over the highest settled account balance, with an exception. If one needs to go over the 'pre-set spending limit' they have to 'update your banking information'.

    What I was told at one time by a rep is that when they call to 'update your banking information' what that's really for is to verify funds. They contact your bank and ask for the average daily balance over the lifetime of the account. AMEX authorizes you for 150% of that amount. This is a fairly painless process and every time I've had to do it it was handled in 2 minutes with the AMEX rep and I on a conference call. AFAIK it's not just bank accounts that will work, you can use brokerage accounts, etc... in my case one time I used my Merrill Lynch account.

    As far as I know, any personal cards one has pool from the same line of credit, while the business cards have their own separate line.

    You can pretty much figure out what your exposure limit is by using the "Will my charge be authorized?" feature on the AmEx website... just keep putting in higher numbers until the charge declines. Add that amount to your currently outstanding charges and you've got your exposure limit. Amazing how a one cent difference on a $30k charge can make the difference between no problem and no dice."
  2. dogman

    dogman Well-Known Member

    Hi Saar! I have jacked in as much as $25K and it said fine - but the merchant may ask for ID. Now I will try 28 and see what happens :)

    Kanebear's banking formula might "LOOSELY" emulate my bank account avg daily balance.
    Very interesting concept.

    c ya dogman

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