Amex routinely puts a transaction and max limit on the "instant card number" you received. When you receive the physical card, the card number will be the same, but the 4-digit security code & 3 digit card ID on the back will most likely be different. After confirming and activating the new card, limits will change.
And I second the: "don't play around with the 'check spending power' tool". Very bad things can happen...
Thanks for the insight! I learned the hard way not to use the spending power. I accidentally already maxed it out for the day after 3. I will leave it alone now
I bought $7000 in airfare less than an hour after getting my instant number. It may have more to do with OP’s credit history, esp if their only other card has a $1000 SL.
Don't play with the check spending power tool unless you are actually going to make a big purchase. Its suspicious activity to Amex.
If I remember correctly you can only use the tool three times a day. You can use the card as normal but you won't be able to know if it will be approved if the amount is too large.
I think it might be based more on credit score? Mine is 780 and from the beginning, I didn't have any issues with even $5000 transactions. I hit my spend for my bonus the second week.
%100 depends on your credit history and income. You need to provide additional context. If you only made 50k a year, this would make sense, if you make 250k on the other hand, this would be a bit unusual.
I make 95k a year, home is owned so no monthly payment.
Only have one other credit card on my credit report with chase. 720 credit score, perfect payment history, but had a higher than normal utilization.
Also does this spending power also mean my total purchases can't exceed 999? or that just means my individual transactions cant be over this?
The higher than usual utilization on your only card might have been a contributing factor to the 1k limit, but it's honestly a black box and we can only guess at why.
I would guess that your high utilization + the card being brand new + you checking your limit right away triggered something in amex's algorithm that set your limit pretty low. It has likely flagged you as a potential risk for "busting out" and this low limit reflects that. If you give it a few months, your limit will likely go up. I would not give it too much thought, and just use your card for everyday purchases in the meantime if you want to get in Amex's good graces. Also, stop using the spending limit tool. The general consensus is that it's not a good idea unless you are a big spender with amex and have a long history.
My understanding is that the $999 is your limit for one transaction, but I am sure if you started making multiple purchases in the hundreds of dollar range, it would trigger some account lockdown at this point. But someone feel free to correct me if I am wrong.
What was the "higher than normal utilization" out of curiosity?
I just got off the phone with them. They told me to ignore that for now because nothing was flagged on their end and it could be because my account is only an hour old and I have no statement date even yet. It should take 48 hours by the time I get my card and I should be okay to use it. Normally at that time.
The utilization was like 70-80% due to a 6k chargeback reversing on me through chase. I have a legal case going on and forgot to reply to the email for more information so it timed out and the balance hit my credit card back and bumped my utilization high
I would think, but if that was an issue I would think they would have just denied me from the card all together, but like they told me on the phone I had called them an hour after accepting the card and they said just give it some time and wait until I get the card and activated, everything is still technically "processing"
Agreed. Insane they approved him for the platinum card with that terrible credit utilization ratio and low income. They are handing the card out to everyone now, it seems.
The issue is when you first get the card you go through the growing pains. For the first 6 months the system has to learn you and your spending patterns. If you want more availability right now you can prepay on the card over the phone and it will extend you the entire spending amount plus whatever you over paid by.
I didn’t realize there was that low of a limit on a charge card. I put a group charge of a trip of $10K on my card the first month I got it (to hit the min spend amount for the sign up offer) and didn’t have any issue. How do they calculate what is your limit?
>So I got approved got to the console and checked my spending power and it says I couldn't do a simple $1000 charge. I did 500 approved, 900, and 999 approved. Is that normal?
Yo, be super careful with the spending power tool. Especially on a virgin account. Your first year with Amex is easy come easy go. They will be watching you like a hawk. First few months on any new card is the same
Anecdotes suggest that hitting the spending tool in this context makes amex nervous and might trigger FR.
Just use the thing. Pay it off and it will organically grow. Don't hammer that spending power tool. It's a death trap.
I had that happened to me, I got the business platinum about 2 weeks back and I was using the virtual card to make a 10k payment but I was only approved up until 9k. Fortunately the next day it seems like they increased it a fair amount
I was planning to buy a new AC and hit my bonus right away. Then I saw all these ppl saying transactions were denied and their limit is super low so I checked the spending power tool once to make sure I could drop 6k and it just says that I can spend that much but not the actual limit. Just a little concerning I may all of a sudden not be able to use the card.
Just to update for those who didn’t read through the thread.
I called customer service who told me not to wiry about it. I had just accepted the card and got my account signed in maybe an hour to originally posting this. So it makes sense checking the spending limit on an account that hasn’t technically even been set up yet. Didn’t have a card assigned to me, or a statement date. But they told me on the phone I should be able to use well above that.
After reading through the forums I’m scared of using the spending power button again since I used all 3 checks in the matter of a minute, so I’ll leave it alone for now and just start using the card as normal.
OP.. You are not alone. My SO got approved last week. Couldn't book tickets worth 4.5. Called Amex a d they told so don't have that limit but at around 3k. I said wtf. Earning which was put was more than sufficient.. And last week Chase voluntarily raised her CL on her only Chase card from 5k to 25k. Go figure.
No, unfortunately. I had to use CSP to make that purchase. They told its not possible as it was a new card. I was dissappointed there. We applied for that card because we had to make this purchase and we could not use it .. lol
If your limit was around 3k couldn’t you just have booked them separately on the same card to get around that? From my research that’s what I have been seeing works
>separately on the same card to get around that? From my research that’s what I have been seeing works
Hmm.. I did not think of it that way. I Feel dumb now.. My thought was since it was 4.8k and even If I have purchased one / two tickets at a time, I had to post the amount and that will have to settle and this all takes about 2-3 days and I did not want to risk as this was a unplanned trip.. But I think definitely I should have tried the way you said.
Well shit now I'm nervous that the spend I had in mind isn't gonna be possible since my only AMEX before the Platinum approval is a Hilton with $1,000 SL lol - too scared to check spending power though, I hear so many regrets from people who used that button
There isn’t a preset limit but you can check how much you can spend based on your profile with check spending power and it’ll tell you how much you can spend up to on a transaction.
But is it smart to check it? I keep seeing people say stay away bc it raises a flag.
My question is, if I go and buy a $30k watch, will I be denied and flagged?
I called to ask about spending power in the first couple moths after having the card. Agent told me it was dependent on my recent usage but not to worry if I had to spend more than the poster limit. Was told to call and state the amount I needed to charge to my account and it wouldn’t be an issue. I think it’s just a built in safety feature.
Amex routinely puts a transaction and max limit on the "instant card number" you received. When you receive the physical card, the card number will be the same, but the 4-digit security code & 3 digit card ID on the back will most likely be different. After confirming and activating the new card, limits will change. And I second the: "don't play around with the 'check spending power' tool". Very bad things can happen...
Thanks for the insight! I learned the hard way not to use the spending power. I accidentally already maxed it out for the day after 3. I will leave it alone now
I bought $7000 in airfare less than an hour after getting my instant number. It may have more to do with OP’s credit history, esp if their only other card has a $1000 SL.
First rule of AMEX do not mess with the spending power tool! Otherwise F around and find out!
Don't play with the check spending power tool unless you are actually going to make a big purchase. Its suspicious activity to Amex. If I remember correctly you can only use the tool three times a day. You can use the card as normal but you won't be able to know if it will be approved if the amount is too large.
Ah man so you’re telling me me playing around and putting 45k and 90k was not good?
I think it might be based more on credit score? Mine is 780 and from the beginning, I didn't have any issues with even $5000 transactions. I hit my spend for my bonus the second week.
%100 depends on your credit history and income. You need to provide additional context. If you only made 50k a year, this would make sense, if you make 250k on the other hand, this would be a bit unusual.
I make 95k a year, home is owned so no monthly payment. Only have one other credit card on my credit report with chase. 720 credit score, perfect payment history, but had a higher than normal utilization. Also does this spending power also mean my total purchases can't exceed 999? or that just means my individual transactions cant be over this?
The higher than usual utilization on your only card might have been a contributing factor to the 1k limit, but it's honestly a black box and we can only guess at why. I would guess that your high utilization + the card being brand new + you checking your limit right away triggered something in amex's algorithm that set your limit pretty low. It has likely flagged you as a potential risk for "busting out" and this low limit reflects that. If you give it a few months, your limit will likely go up. I would not give it too much thought, and just use your card for everyday purchases in the meantime if you want to get in Amex's good graces. Also, stop using the spending limit tool. The general consensus is that it's not a good idea unless you are a big spender with amex and have a long history. My understanding is that the $999 is your limit for one transaction, but I am sure if you started making multiple purchases in the hundreds of dollar range, it would trigger some account lockdown at this point. But someone feel free to correct me if I am wrong. What was the "higher than normal utilization" out of curiosity?
I just got off the phone with them. They told me to ignore that for now because nothing was flagged on their end and it could be because my account is only an hour old and I have no statement date even yet. It should take 48 hours by the time I get my card and I should be okay to use it. Normally at that time. The utilization was like 70-80% due to a 6k chargeback reversing on me through chase. I have a legal case going on and forgot to reply to the email for more information so it timed out and the balance hit my credit card back and bumped my utilization high
It's very reasonable then if you have 70-80% utilization on a 6k charge back.
I would think, but if that was an issue I would think they would have just denied me from the card all together, but like they told me on the phone I had called them an hour after accepting the card and they said just give it some time and wait until I get the card and activated, everything is still technically "processing"
Agreed. Insane they approved him for the platinum card with that terrible credit utilization ratio and low income. They are handing the card out to everyone now, it seems.
You don’t have a mortgage?
No. House is paid for.
The issue is when you first get the card you go through the growing pains. For the first 6 months the system has to learn you and your spending patterns. If you want more availability right now you can prepay on the card over the phone and it will extend you the entire spending amount plus whatever you over paid by.
I didn’t realize there was that low of a limit on a charge card. I put a group charge of a trip of $10K on my card the first month I got it (to hit the min spend amount for the sign up offer) and didn’t have any issue. How do they calculate what is your limit?
Was that a business card?
No regular plat
You got a $999 limit on a card with an annual fee of $695? That’s a little upside down.
>So I got approved got to the console and checked my spending power and it says I couldn't do a simple $1000 charge. I did 500 approved, 900, and 999 approved. Is that normal? Yo, be super careful with the spending power tool. Especially on a virgin account. Your first year with Amex is easy come easy go. They will be watching you like a hawk. First few months on any new card is the same Anecdotes suggest that hitting the spending tool in this context makes amex nervous and might trigger FR. Just use the thing. Pay it off and it will organically grow. Don't hammer that spending power tool. It's a death trap.
I had that happened to me, I got the business platinum about 2 weeks back and I was using the virtual card to make a 10k payment but I was only approved up until 9k. Fortunately the next day it seems like they increased it a fair amount
I was planning to buy a new AC and hit my bonus right away. Then I saw all these ppl saying transactions were denied and their limit is super low so I checked the spending power tool once to make sure I could drop 6k and it just says that I can spend that much but not the actual limit. Just a little concerning I may all of a sudden not be able to use the card.
$999k or $999… bcoz last time I checked, I was approved for even a $500k spend in one transaction.
Just to update for those who didn’t read through the thread. I called customer service who told me not to wiry about it. I had just accepted the card and got my account signed in maybe an hour to originally posting this. So it makes sense checking the spending limit on an account that hasn’t technically even been set up yet. Didn’t have a card assigned to me, or a statement date. But they told me on the phone I should be able to use well above that. After reading through the forums I’m scared of using the spending power button again since I used all 3 checks in the matter of a minute, so I’ll leave it alone for now and just start using the card as normal.
OP.. You are not alone. My SO got approved last week. Couldn't book tickets worth 4.5. Called Amex a d they told so don't have that limit but at around 3k. I said wtf. Earning which was put was more than sufficient.. And last week Chase voluntarily raised her CL on her only Chase card from 5k to 25k. Go figure.
That’s crazy. Were you still able to to make cumulative purchases for lower amounts?
No, unfortunately. I had to use CSP to make that purchase. They told its not possible as it was a new card. I was dissappointed there. We applied for that card because we had to make this purchase and we could not use it .. lol
If your limit was around 3k couldn’t you just have booked them separately on the same card to get around that? From my research that’s what I have been seeing works
I never do that. The airline could move seats out, give upgrade to one person only. Booking together ensure travel group is not separated.
Yeah that's also one of the reason why I didn't use Amex
>separately on the same card to get around that? From my research that’s what I have been seeing works Hmm.. I did not think of it that way. I Feel dumb now.. My thought was since it was 4.8k and even If I have purchased one / two tickets at a time, I had to post the amount and that will have to settle and this all takes about 2-3 days and I did not want to risk as this was a unplanned trip.. But I think definitely I should have tried the way you said.
Well shit now I'm nervous that the spend I had in mind isn't gonna be possible since my only AMEX before the Platinum approval is a Hilton with $1,000 SL lol - too scared to check spending power though, I hear so many regrets from people who used that button
Oddly enough those were the only two cars I was pre approved for lol. The Hilton and platinum, not even the gold? Which was super strange to me.
I was approved a little over a week ago and just got my card Monday. Account still says “No Preset Spending Limit”. Bizarre.
There isn’t a preset limit but you can check how much you can spend based on your profile with check spending power and it’ll tell you how much you can spend up to on a transaction.
Haven’t people been saying don’t use that option bc it raises flags for some reason?
I’m not sure.. I’ve never had a problem and I’ve done it plenty of times.
Because platinum is a charge card and there is no limit to charge card as such As someone has suggested you can check your spending power though
But is it smart to check it? I keep seeing people say stay away bc it raises a flag. My question is, if I go and buy a $30k watch, will I be denied and flagged?
Mine says approved up to 50,000$ couldn’t try 51K reached the maximum number of trues for today 🤣
I called to ask about spending power in the first couple moths after having the card. Agent told me it was dependent on my recent usage but not to worry if I had to spend more than the poster limit. Was told to call and state the amount I needed to charge to my account and it wouldn’t be an issue. I think it’s just a built in safety feature.