I got a pre-approval for this a couple of years ago, but I went for Blue instead. I'm thinking about going for the Gold card now, but I still don't understand what is meant by no pre-set spending limit? I heard that if you typically spend about $300/month on credit card bills that's what your spending limit would be, but what if you're like me where some months you spend $3,000 (tuition for school) and other months you spend $200. Does Amex take an average of how much you spend each month to determine your limits? Also, does Amex automatically give you a higher limit for the Gold than the Green since it is a higher card? OR it doesn't matter if the card is green, gold, or platinum, your limit is based on how much you spend each month?
When I used to have better credit and had the American Express green card, once I had the card for several months I was never denied any charge when a human being was called to authorize. Sometimes large items or expenses were denied by the automated system. The human authorizers would sometimes ask to speak to me for identification purposes but always authorized the charges.
No pre-set spending limit means that your purchases approved are based on your personal resources, credit history, and spending/payment histoy with AMEX. What this means is that unlike a credt card, you have no limit that is pre-determined when your account is open. During the first 12 months of your membership, they provide a big window so that you can establish your pattern. Now, of course when you have a larger purchase thatn normal, sometimes the system will hold the authorization for the purchase for security on your account. People sometimes interpret this as a denial, but it is not--merely security for your account to ensure that YOU are the one making the purchase and not someone who stole your card. If this happens, thr merhant is told to call AMEX and they will then speak with you verify your identity. I usually spend 3-5K a month, but sometimes have been up to 9-10K a month with no problems. If you know that you are going to be amking an extremely larger purchases than normal, you can simply call before and tell them as well. There really is no difference in spending limit between the Personal, Gold, and Platinum cards. Although, it is assumed that each card requires a different income level and people on platinum usually spend more than personal. However, I have worked on a few Personal account that spend $300,000 a MONTH and Platinum that spend less than a $1,000 a month.
Jason, I've also thought about AB's questions, but I think you explained it pretty well. With regard to payment history with AMEX I used to pay off my balances in full with Blue, but now I'm carrying a balance because of the good 9.9% fixed rate; I always pay off the balances on my other higher interest credit cards, but I was wondering if carrying a balance with Blue now hurt my chances of getting the Rewards Plus Gold or Platinum card since these are charge cards which must be paid in full? Thanks.
