American Express question...

[NissanGurl]

I have the Blue. They actually raised my limit without me requesting it. It was a substantial increase also....about 10,000 when the original limit wasn't that high. You can request a increase online and i think you get a very quick response. I'm thinking it may be in instant increase if you qualify for one. I checked to see once if they would increase it. They were willing to double it right then and there, but I didn't raise it. About 2 months later they just raised it without asking.

As far as why more businesses don't accept Amex, Azurik is right. Amex charges higher processing fees to the business than most other cards so many places just choose not to accept them.

 

[imported_griffis]

I have a delta platinumn skymiles card, limit started at $5000 a year ago, I am now at $25,000

 

[hdeck]

my blue card was increased automatically a few times over the past 3 years

 

[SarcasticDwarf]

Originally posted by: BlancoNino
This is a little off the subject, but do a lot of places accept American Express where you live? I live in a town with an area of about 40,000-50,000 and as far as restaurants go, I've only seen a couple that accept American Express.

Some guy came into the restaurant I work at and complained because we didn't accept American Express and went on a rant on how it was the 5th place that didn't accept it.

From what was explained to me, American Express simply costs more for businesses to accept, somehow.

Businesses that deal with other businesses will accept it as AMEX is pretty dtandard for corporate accounts.

 

[jmcoreymv]

I usually just click on the increase limit button once every 2 months, and they keep adding an extra 1-2K without me having to do anything else. I also barely use the card.

 

[LS20]

they raised mine quickly, and SUBSTANTIALLY w/o a request

havent had a raise by citicard, and ive had that for longer with TONS of charges and full monthly payoffs... never been raised by Discover (suck)... used to get small but frequent raises by Cap 1 (suck), but currently theyre not raising or accepting raise requests

 

[imported_Mike]

Originally posted by: Azurik

Originally posted by: Mike

Originally posted by: Azurik

Originally posted by: mzkhadir

Originally posted by: monk3y
Should be a quick answer. Does American Express raise your credit limit relatively quickly? and do you have to be the one that requests it?

what type of card ? Gold card has unlimited credit or monthly limit of 4500

It's not really unlimited. Try spending a lot on the gold card and you'll see what I mean. There just isn't a DEFINED credit limit, but there is a cap.

The cap depends on the person though. There is no set cap for the Gold card.

There is no set cap for any of the charge cards (read: a card that doesn't have a credit line), but depending on your history with AMEX, they do have an "internal" limit they won't tell you about. Reach that limit and you'll receive a phone call from them.

Some business do not accept AMEX because AMEX charges more for processing fees than VISA/MC. VISA/MC for instance, charges me abotu 1.45%. AMEX is 2.39%. Small difference when you initially look at it, but try having revenues in the K's and millions and you'll see why some are turned off.

Azurik... who owns probably every single credit card from AMEX (blue, gold, platinum, black, etc. etc. etc.)

Yea, that is what I meant by cap.

 

[XZeroII]

I raised mine to $5k soon after getting it and am very happy with that. I don't need/want a higher limit. People with 25k limits are nuts unless you are absolutely loaded. It just means that you could get yourself into more financial trouble when you have a higher limit.

 

[gsethi]

Originally posted by: Azurik

Originally posted by: Mike

Originally posted by: Azurik

Originally posted by: mzkhadir

Originally posted by: monk3y
Should be a quick answer. Does American Express raise your credit limit relatively quickly? and do you have to be the one that requests it?

what type of card ? Gold card has unlimited credit or monthly limit of 4500

It's not really unlimited. Try spending a lot on the gold card and you'll see what I mean. There just isn't a DEFINED credit limit, but there is a cap.

The cap depends on the person though. There is no set cap for the Gold card.

There is no set cap for any of the charge cards (read: a card that doesn't have a credit line), but depending on your history with AMEX, they do have an "internal" limit they won't tell you about. Reach that limit and you'll receive a phone call from them.

Some business do not accept AMEX because AMEX charges more for processing fees than VISA/MC. VISA/MC for instance, charges me abotu 1.45%. AMEX is 2.39%. Small difference when you initially look at it, but try having revenues in the K's and millions and you'll see why some are turned off.

Azurik... who owns probably every single credit card from AMEX (blue, gold, platinum, black, etc. etc. etc.)

For VISA/MC, it varies depending on the card. Bank Cards are very cheap (~.2-.5%). Normal CC are ~1-1.5%. Rewards are ~2-3%.

Amex is ~2.5-3.5% (depending on your contract and your processor's terms with Amex).

Dont recall discover from the top of my head but I can get that info tomorrow if someone is really interested.

 

[BillyBatson]

in my experience yes. i have good credit but i have had my chase mastercard for 3 years and it has gone from $500 to $3,000. On the other hand i have had my Amex for 1 year, started at $4400, got my first increase this last july and since july have had 3 credit rasies. My amex credit is now $24,400 !!!

 

[ElFenix]

Originally posted by: ajf3
They're giving credit away like candy right now for some reason - maybe a bug in their screening process? I just today upped my limit from 13k to 25k...

Here's a link:
http://www.bargainshare.com/index.php?showtopic=93593

they did similar for me too... upped my credit limit by 166%

that'll just make the balance transfer game super easy

 

[PMFleXXX]

when you ask for increases, do they automatically pull your credit (or ask to pull it first)? if so, is it a "hard pull" / negative?

 

[Parasitic]

How do you guys end up charging upwards of 10k to 25k+ a month?
Can you buy a car with a cc?

 

[mrSHEiK124]

Originally posted by: Parasitic
How do you guys end up charging upwards of 10k to 25k+ a month?
Can you buy a car with a cc?

 

[kranky]

Originally posted by: Parasitic
How do you guys end up charging upwards of 10k to 25k+ a month?
Can you buy a car with a cc?

My understanding is that car dealers will limit the use of the CC to $5000 or less. They won't let you charge the entire purchase because it costs them too much in CC fees.

 

[Parasitic]

Originally posted by: kranky

Originally posted by: Parasitic
How do you guys end up charging upwards of 10k to 25k+ a month?
Can you buy a car with a cc?

My understanding is that car dealers will limit the use of the CC to $5000 or less. They won't let you charge the entire purchase because it costs them too much in CC fees.

Then nevertheless what are people buying that cost $25k in a single transaction?

 

[RossMAN]

Originally posted by: Parasitic
How do you guys end up charging upwards of 10k to 25k+ a month?
Can you buy a car with a cc?

I average around $800 a month barring any big purchases like a Dell LCD or laptop.