If my credit limit is $2000.00 and I charge $2000.00 and in about 7 days pay the $2000.00? Would that have been a bad thing? I didn't go over the credit limit? Or should I only use 30% - 50% of the credit limit? How does this work?
You "CAN" charge $2,000 any time you want...BUT if you have a PREVIOUS BALANCE and the statement is going to close, you will be OVER-LIMIT before you pay it off... AMEX does not "USUALLY" have a problem with the CREDIT LIMIT...and HIGH BALANCE like CAPITAL ONE...
I'm trying to get a higher limit... $2000.00 just doesn't cut it for me... at least 5k. What's the quickest way for AMEX increase?
If you account is new (no longer than 30 days) call New accounts and say you want to transfer 5k and to request a credit limit increase. You have to insist, If the person tell you that you have to wait 6 months ask for a supervisor. I just did that with an Delta optima...initial limit was 2k and was raised to 9.5k. I had to hold on the phone like 30 min but it was done. If your account isn´t new you have to wait the 6 months before approval or your last increase. If you have a promotional rate charge around 1900 and pay it off some months later or at the end of the promotion.
If you got the same deal I got when I got Blue, you won't get hit with a finance charge for 6 months on purchases only. So if you charge up your card to the limit, you won't go over limit at the end of the billing cycle. Be carefil if you'r planning on taking it out in cash or doing a BT to take it to the limit because then you will be hit with a finance charge that will take you over the limit.
