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So we ended up getting an AMEX business gold charge for our monthly business spend. We received the cards last night via UPS (much pomp for nothing). I made sure to ask AMEX before we applied if there would be any spending limitations on the card in the beginning and they told us that we should use the card as normal, the only way there would be a problem is if we tried to charge, say, $20,000 at one time they may have to call and verify some things. I told them what our spending should look like and they said there would be no problem.

 

Last night I called after we activated the cards with a few questions about the online access and also to make sure that we would be ready to use the cards with no problem. They answered our questions and said we should have no problem spending at least $25,000/ month at this time.

 

So after I got off the phone with them last night, I was looking through the online account and saw the "check your spending ability" link. I clicked on it and it said that charges would be declined and that we needed to call to verify information. So I called and they again said everything is good and no problems. They asked what we planned to spend and I said there should be a charge of $350 in a few days and the rep said we would be good up to $1000.

 

I said $1000?!? So I blew up, called it a joke and said that we were told last night we would be good for at least $25,000. She asked who told me that. I said I don't know, but you should know, it's in your records. She said if we want to spend more we could make multiple payments. Anyway, that call ended badly. She just kept repeating the same thing like a broken record. :lol:

 

I always aspired for an AMEX but I didn't realize they suck so badly. The reps are unknowledgable, deceitful and rude. Not to mention every time I have been on the phone with them I have heard beeps as they are recording the calls. Way to make me feel like a criminal. This reeks of subprime to me. $185 AF for the priviledge of not knowing when your card will work?!? Pitiful. They shouldn't issue a card if you have to call for permission every time you want to use it.

 

Is there any remedy to deal with them or is this card just a joke?

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Amex needs to see you establish a pattern of spending and will gradually increase your ability to spend. I will admit that $1K seems pretty low for a business card. Are you established (D&B score, etc)? If not that could be part of the problem. You might poke your head into the business credit forum and see if anyone there has some useful advice.

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sounds like you knew what you were getting into b4 app. nothing should surprise you with amex really...

it is pretty much you play by their rules- otherwise, move along. they 'aint easy...but blowing up over a CL discrepancy or allowing emotional displays to fuel your interactions with them will probably always end in flames.

Edited by savetherobots

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Yeah I just can't believe they would tell me 25k then change their minds to 1k. She said they base the spending ability on last 6 months spend, so I said we will be limited to 1000/month for 6 months and she said yes. I said how will we ever establish a higher basis if we are limited to that and she said we can make multiple payments to spend more. I told her that sounds like a debit card and she said but you get the points if you use this card. Doesn't sound like worth it to me.

 

I just want them to pick an attitude and stick with it. Either tell me we can spend what we need to or tell me a limit. It is already worthless for the purpose we were going to use it for now.

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I'd just use the card and (of course) always carry a backup.

 

I've had no trouble with mine--charges up to about 1k, and then continued use.

 

Why address a problem that hasn't actually happened?

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They will probably give you more room if you agree to supply them financials...at least they have for us in the past. The 6 months is a guide also. If you run $25K in a month while making 25 $1K payments, they will usually loosen up a little bit.

Edited by jtoast

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There are plenty of business credit cards out there.

AmEx feels you are too risky right now.

Give someone else your business.

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I'd just use the card and (of course) always carry a backup.

 

I've had no trouble with mine--charges up to about 1k, and then continued use.

 

Why address a problem that hasn't actually happened?

 

Yeah that may be our problem. We were just trying to be proactive and make sure we weren't going to get cut in the middle of the month. Sounds like we may have made them nervous.

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Why put up with a lender that has become known for snatching back limits,

leaving you High/Dry and making you look like a genuine deadbeat when you

card get declined because Amex decided that your last 9 years of payment

history mean nothing and CLD/Close the account without warning..

 

Honest question.. Why does anyone even want an Amex card?

 

Many CCs can be built up to 20-50K Limits and Amex, these days,

sure as hell isnt letting people charge that.

 

So again, why do people want Amex products?

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If I were you I would not plan on using Amex as my primary card. Contrary to what many post in the forums, almost all Amex business cards are really just glorified personal cards and are underwritten based on the strength of the applicant/guarantor. If you plan on pushing $25K monthly through your card you need a minimum limit of $50K. Ask yourself the following questions: Does the applicant/guarantor have an aged credit file. Is his Equifax FICO over 750? Does he already have revolving limits at the $50K level or higher. Can the applicant/guarantor document personal income of $200K+ annually? Is the business in a stable industry and in a geographically safe market? Even with all the above in order Amex may still feel uncomfortable but those are suggested guidelines of what many banks will expect to see for such a limit.

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Why put up with a lender that has become known for snatching back limits,

leaving you High/Dry and making you look like a genuine deadbeat when you

card get declined because Amex decided that your last 9 years of payment

history mean nothing and CLD/Close the account without warning..

 

Honest question.. Why does anyone even want an Amex card?

 

Many CCs can be built up to 20-50K Limits and Amex, these days,

sure as hell isnt letting people charge that.

 

So again, why do people want Amex products?

 

We were looking for a card that would grow with our spend and not have a hard limit. We were just looking to start a little higher than 1000/month..

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So again, why do people want Amex products?

Inertia. :lol:

 

I can understand that with Amex being as insanely picky as they are.

 

Any other reasons?

To be honest, not really.

I think a lot of people like me are looking askance at their Platinums, and wondering if they really *ARE* worth the price. ;)

Heck, the only thing that goes on my Platinum nowadays is CreditSecure. :lol:

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Why put up with a lender that has become known for snatching back limits,

leaving you High/Dry and making you look like a genuine deadbeat when you

card get declined because Amex decided that your last 9 years of payment

history mean nothing and CLD/Close the account without warning..

 

Honest question.. Why does anyone even want an Amex card?

 

Many CCs can be built up to 20-50K Limits and Amex, these days,

sure as hell isnt letting people charge that.

 

So again, why do people want Amex products?

 

We were looking for a card that would grow with our spend and not have a hard limit. We were just looking to start a little higher than 1000/month..

 

Fair enough.. Again, I'm simply asking why people would want to deal with this foolishness.

 

I can understand not wanting a set limit.

 

If Amex approved you tho, then you're likely a prime consumer and might

qualify for a high limit regular CC. I know you arent looking for a set limit,

but if a card had a $40,000 limit and you only ran $25K a month thru it,

would there be any difference, other than knowing the card will work

the next time you use it, unlike Amex.

 

Again, I'm not attacking anyone's decisions, but from everything Ive read here

it seems Amex's policies are making them a subprime lender with stupidly high standards.

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We have other options for credit, including some personal cards with high limits. So we can get by without it.

 

If we charge less than $1000 for 6 months or so, will we actually be limited to not going far above $1000 in the future or can we ramp it up as time goes on? We need to get the card to the point where we can spend $10k/month consistently.

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We have other options for credit, including some personal cards with high limits. So we can get by without it.

 

If we charge less than $1000 for 6 months or so, will we actually be limited to not going far above $1000 in the future or can we ramp it up as time goes on? We need to get the card to the point where we can spend $10k/month consistently.

 

The pattern with Amex seems to be they like patterns.

 

If you're set on the Amex, then use it as they dictate for 3-6 months

then call them and see if they will allow you to use it with a higher limit.

 

Over the course of the next year or 2, they might actually trust you enough

to grant you the spending limit you require.

 

Good luck with whatever you decide... ;)

 

Note: I'm not an Amex holder, but the above seems to be the trick.

Hopefully, an Amex holder can verify for you..

Edited by sonicanatidae

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Back when I had an Amex charge card (05) I was never denied a charge, and one month spent close to $40K and triggered FR. However, the charges were all approved.

 

They must SERIOUSLY be cutting back, only offering $1k in spending! Sounds to me like a glorified debit card paying all the time. You can do this with ANY credit card with a $1K limit (granted you might have to be more careful not to go over limit).

 

I spend $6-7K, sometimes $10K+ a month PERSONALLY, so with business expenses this is rather impractical.

 

Personally if it were me I would charge exactly $1,000 each month or close to. Then pay after statement cuts to start over.

 

Or, bombard them with $1,000 payments

 

Or, make a payment each day to pay the balance.

 

Kind of defeats the purpose of the card (still short term credit even if charge), but will get the point across when you call and ask them when you can use your card for real because I had to make 25 payments last month! :D

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AMEX is quirky. My 1st month they suspended charging when I hit 1k. a couple of months later a $20k charge went through with no problem

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Kind of defeats the purpose of the card (still short term credit even if charge), but will get the point across when you call and ask them when you can use your card for real because I had to make 25 payments last month! :o

 

I love this idea.. I think it would genuinely communicate to Amex just how silly they are being.. :D

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There are plenty of business credit cards out there.

AmEx feels you are too risky right now.

Give someone else your business.

 

 

I have been a Amex customer since 1992. Got a business gold card with them in 2000. Our average spending with them was a little over 12K per month. I told all my employees to use Amex first. Took many vacations on membership rewards. Always paid on time and in full. In 2008 they set a limit of 7k per month.

Then in May 09 reduced to 4k. Again never late and pay in full. My wife uses (or did) our personal Amex gold.

the account I have had since 92. Three times in 09 Amex would send me a email (always on Saturday night, received on my blackberry) that they were suspending all charges on this card and all of our business cards, and would release them when this account was paid in full. This was for charges two days old in about all cases around 1K, even though there was nothing due that billing period. Talked about pi****. I asked the rep to set a limit on the card like they did the business cards, but they would not. Needless to say Amex is the last card we use and in about 6-8 months none of my Amex cards will ever be used again. They have been the worst, they used to be the best.

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Why put up with a lender that has become known for snatching back limits,

leaving you High/Dry and making you look like a genuine deadbeat when you

card get declined because Amex decided that your last 9 years of payment

history mean nothing and CLD/Close the account without warning..

 

Honest question.. Why does anyone even want an Amex card?

 

Many CCs can be built up to 20-50K Limits and Amex, these days,

sure as hell isnt letting people charge that.

 

So again, why do people want Amex products?

IME, Amex has not been an a$$hole to me the way BofA, Citi, & Chase have. BofA being the WORST & they used to be my fav. So YMMV as usual. Amex is my Fav. I never ever ever call Amex, I think this may be the secret to avoiding problems with them, but I could be wrong.

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My brother had a similar problem earlier last year with Amex. He has the 'Sign and Travel' option on his Gold Card which allows him to carry a balance. He then experienced a credit line decrease (unknown to him when he attempted to purchase computer equipment at a Apple store). Boy, was he hot! I told him that the decrease might have been due to his debt-to-limit ratio, but he said that there shouldn't have been a limit at all. Was he right?

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I agree that amex is quirky and I have YET to figure out what DH corporate card's actual limits on stuff are

 

for instance, originally told cash advance monthly limit 300, then when trying to go above 200 , oh, its 200 a week

 

as a test I tried 200 a week...it worked..next month I tried 300 in one week...it also worked

 

also, 500 limit for any retail purchase except travel expenses

 

2k spending limit overall

 

one month it was capped at 500 retail whole month nother time multiple 500 amounts over 2k for the month with no overlimit fee (wth??)

also, not that it isnt inconvenient, an authorization no matter what the terms are has always resulted in an approval

 

 

moral of the story??

 

 

who the heck knows w/ amex

in three years of using the card I havent figured out a rhyme or reason

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