Ok i have been using between 1,000 and 1,500 on my green rewards amex card. Well, on my credit report it reflects a high credit balance of 1492. Recently, I was eligible for the extended payment plan so that I can pay a minimum payment if the charge is $200 or more. My question is, does amex determine the highest credit balance by: the balance on the closing date, or the MINIMUM balance due through the extended pay plan, or the balance reflected from the total activity used on the card? Because, before the extended payment plan kicked in this past month, whatever balance was due by X day was reported to the bureaus as the high credit balance. Im curious because I might buy/refund a couple of items to reflect a higher credit balance.
I'm thinking of doing that with my Amex card. Buy something for say, $2,000, and then take it back right before the billing closing date to reflect a high balance but zero or low balance due. George says to carry a $50 balance every month.
I have the same feature as you. This is what AMEX will do. They will open another account and list it as a revolving. Thus you will have 2 separate entries in your credit report, revolving and charge. They will treat it like 2 separate accounts and will list the high balance for each separate account. This is fact. Btw, they will list the high balance as the balance you have on your closing date. They do get behind sometimes and it takes 2 months to update your account.
The "GREEN" card is a TOTALLY DIFFERENT KIND OF ANIMAL... If you spend $1,000 per month for 2 years and then try to spend $5,000 they MAY OR MAY NOT ACCEPT THE CHARGE WITH-OUT YOU CALLING...or their computer at the store will say "CALL FOR AUTHORIZATION" If you call BEFORE you make a MAJOR purchase...it will be fine...or I saw on-line something about checking if a charge will be authorized on their web site...I never clicked on it... I PREFER "STATED" LIMITS...
George says to carry a $50 balance every month. -------------------------------------------------------------------------- I DID??? I said use the card (OR ANY CARD) once or twice a year or they will not renew it... "IF" you NEVER carry any balance on any card, ever...F.I.C.O. scores are not as high as when you do carry a balance...
Right. On their website there is a link that says "will my charge be approved?" Click on that and put in an amount. If it says "no way," try a lower amount. Generally with green, if you increase your amount charged each month (on the pay in full account) by 50% they will approve it, and you can gradually increase your (non) limit. Be very careful with the S&T account. The billing is strange, and the way they apply payments is hard to determine until after they've done it. You make a payment and if you have an outstanding balance on the "charge only" account, that is what will get paid, then it will apply to the S&T. There is no way on the website to designate that you want a payment applied only to the S&T account. S&T will build up fast that way. I wanted to show a limit on the S&T account also, but ended up frustrated with it, and just paid it off, don't plan to use it again.
Re: Re: Amex green card cr limit? I thought you said it. Well maybe it was lbrown59... I know it was one of the CN guru's.
Re: Re: Amex green card cr limit? I would not opt for that at all. That is way too confusing and only benefits Amex. *insert shaking head, no smiley here*
Well, Diva, I tried to search for that remark. PsychDoc said to keep a $1 to $10 balance on an Amex Cash Rebate card in order to get the full 2% rebate. Of course, that card allowed him to carry a balance. Not many Green card holders can carry balances. That's the best I could do.
Re: Re: Amex green card cr limit? I don't know who said it but I know I saw it recently. Thanks anyway RichGuy =)
Exotic, basically my question was if a green rewards cardholder has the "sign and travel" on their account, will the "highest balance owed" portion of the CR reflect the sign and travel related charges. Since I experimented, I found out that the sign and travel charges will be reflected in the "highest balance owed." As breeze warned, the billing is tricky and can get very confusing. (trust me, i should have listened to breeze instead of getting in a big mess with sign and travel. A supervisor had to clear the mess. I was paying the minimum on sign and travel, but the payments were not be applied to sign and travel, while i had already paid the due in full amount. Does anyone else still use the sign and travel with paying in full/minimum without any confusion?
I just got approved for a Gold Prefered Rewards? What are the benefits of the Gold Pr. Rew. vs Green Pre. Rew. regarding limits, sign & travel etc...
Re: Re: Amex green card cr limit? http://www66.americanexpress.com/ca...4157308/20/n/2/70/76&from=200&mgmID=undefined click on the above link for comparison between the two from AMEX's website. 110/yr:green preferred card membership fee 130/yr:gold preferred card membership fee 1. remember, there are no exact credit limits like a revolving account (credit card.) Your credit limit is determined by your spending habits on account (amount spent every month), credit history, etc. For example, if you spend 3k every month on the card, then you cannot go out and make a purchase for 10K without CS approval. 2. Sign and travel is for accounts in good standing with a minimum one year history, plus must be eligible. (When I had this added to my account, the CS rep told me a screen popped up saying i was eligible)
Re: Re: Amex green card cr limit? Source: www.americanexpress.com For no pre-set spending limit, purchases are approved based on a variety of factors including account history, credit record, and personal resources
