Credit Cards

AMEX financial review trigger

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  • Apr 25th, 2019 8:20 pm
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[OP]
Newbie
Oct 7, 2014
88 posts
14 upvotes
toronto

AMEX financial review trigger

Hi there

What triggers amex financial review ? ive read conflicting posts at $30K CL and $45K CL .... anyone know for sure or has any other details they can provide. Ty.
38 replies
Sr. Member
Oct 14, 2014
669 posts
693 upvotes
Southern Ontario
I'm slightly above $35k and have never had a financial review. $35k had been the threshold I heard of, but that didn't hold up in my experience.
Member
Sep 2, 2013
267 posts
278 upvotes
Ontario
I'm not sure there's a hard and fast rule. I'd expect they look at your history. I'm over $45k in CL but I've been with Amex for 20 years. Never had a financial review.
Jr. Member
Oct 16, 2018
183 posts
110 upvotes
I'm at 36 on one and 15 on the other, but they see very little action.
Jr. Member
Oct 16, 2018
183 posts
110 upvotes
I have a line of credit that is occasionally high. having unused high limits on a card keeps my utilization low.
[OP]
Newbie
Oct 7, 2014
88 posts
14 upvotes
toronto
Poutinesauce wrote: Why would you want a $30000 limit on a credit card, this just seems like a huge liability to me. I don't want much more than $10000 per card.
very large frequent purchases
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
I know were not the US but the number use to be 35k (think its also based on your reported income and balance carries), but recently they changed the limit of Credit Cards from i think 2 to whatever (I have four Credit Cards and one charge card with them), I'm well over the 40k, recently charged 20k to the platinum card and another 12k to my SCP card, I've heard nothing from them......(and as always I make payments till it hits zero before statement date). So when they increased the Credit Card limit, I'm sure it also increased whatever invisible barrier limit that use to put you in the FI Risk panel.

I think if you have a 35-45k limit and a reported salary of 50k, and go run the card to 30k they may go all googley eyed at you, but reading stories elsewhere youll see they pulled FIs against people that dont even use the cards.
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
Poutinesauce wrote: Why would you want a $30000 limit on a credit card, this just seems like a huge liability to me. I don't want much more than $10000 per card.
Poutinesauce wrote: How many people does this realistically apply to?
About 6 months back I felt a card with $15-20k limits was the perfect middle ground for me, until the wife and I bought another house and were dumping money by the wheel barrel load into it. Recently had HVAC done, Phase 1 of that was 40k...........Phase 2 is another 15-20k and a phase 3 I'm told will be around 10k.

Then I bought TVs, these 77" OLED are 10k a pop, I needed 4.....you see where I'm going? Normally my personal spending isnt that bad (wifes travel is crazy but thats her thing).

So you're right most people won't need it, its convenience though I can see only needing my SCP card at its current 45k limit, it covers most things (i had to put 12k on it because I had electricians and data company in doing work that took up the first 25-30k of its limit and the work was done in tandum and I hate waiting to pay or owe people money). So one card with a high limit doesn't hurt, and you're right, not many people will need it but you never know!
Jr. Member
Oct 16, 2018
183 posts
110 upvotes
Techiedude wrote: I'm well over the 40k, recently charged 20k to the platinum card and another 12k to my SCP card, I've heard nothing from them
That whole "no preset spending limit" thing is interesting. Using the tool on their website I see they'll approve a purchase of 10,000 on my US gold card, but not even 5,000 on my platinum. The platinum was issued in March, and the Gold last august, but I'd have expected the assessment to be personal, not card based.


On the whole "why large limits" thing, my everyday household expenses are moderate. My less frequent electronics purchases are not at all moderate. I want to be sure that in those months I'm spending a few thousand dollars that I'm not anywhere close to my limit and that I don't have to start paying my bills early in order to keep my utilization low.

Basically I want my credit score to be something I never have to worry about the impact of my recent purchases on my score
Deal Fanatic
Dec 16, 2005
5594 posts
3652 upvotes
RealityBites2 wrote: That whole "no preset spending limit" thing is interesting. Using the tool on their website I see they'll approve a purchase of 10,000 on my US gold card, but not even 5,000 on my platinum. The platinum was issued in March, and the Gold last august, but I'd have expected the assessment to be personal, not card based.


On the whole "why large limits" thing, my everyday household expenses are moderate. My less frequent electronics purchases are not at all moderate. I want to be sure that in those months I'm spending a few thousand dollars that I'm not anywhere close to my limit and that I don't have to start paying my bills early in order to keep my utilization low.

Basically I want my credit score to be something I never have to worry about the impact of my recent purchases on my score
unless your credit score is in the toilet AND you are applying for some sort of loan, why would you EVER worry about your spending impacting your score?

if you have good credit, regular spending (even on large purchases) does not have any impact on getting new credit.
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
RealityBites2 wrote: That whole "no preset spending limit" thing is interesting. Using the tool on their website I see they'll approve a purchase of 10,000 on my US gold card, but not even 5,000 on my platinum. The platinum was issued in March, and the Gold last august, but I'd have expected the assessment to be personal, not card based.


On the whole "why large limits" thing, my everyday household expenses are moderate. My less frequent electronics purchases are not at all moderate. I want to be sure that in those months I'm spending a few thousand dollars that I'm not anywhere close to my limit and that I don't have to start paying my bills early in order to keep my utilization low.

Basically I want my credit score to be something I never have to worry about the impact of my recent purchases on my score
You're first month in, I actually had the same experience but mine stopped at 10k, so first month I spent and paid about 12k on card, someone said they take your three month high or something. So they start you off at 5k, but if you spent and pay changes are the following month it would be 10-15k and so on. Don't quote me on it.
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
mech9t5 wrote: unless your credit score is in the toilet AND you are applying for some sort of loan, why would you EVER worry about your spending impacting your score?

if you have good credit, regular spending (even on large purchases) does not have any impact on getting new credit.
Changes ratios, that whole 20 or 30% of limit is somewhat accurate, but if you have a card with a 10k limit, and you put 9500 on it and it reports, you still lose like 15-20 points with TUs Transrisk, recently had ONE card (made payment but monday was a holiday and wasnt processed) that reported (paid a moving company), lost like 18-20 points, ill gain back next month but its annoying that doing stuff can cause the jump up and down
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
Poutinesauce wrote: Just imagine if someone stole your card and racked up 40k of expenses on it, and then you'd have to fight to have those charges cleared out. I'd go nuts.
You know I've never ever had a fraudulent charge, charges I question would normally be some after charge or weird thing, but never, but my passwords are complex, my wallet and cards i never let anyone touch, never give over the phone etc......If you're really worried, use those "virtual one time" charge cards, RBC does them.
Jr. Member
Oct 16, 2018
183 posts
110 upvotes
mech9t5 wrote: unless your credit score is in the toilet AND you are applying for some sort of loan, why would you EVER worry about your spending impacting your score?

if you have good credit, regular spending (even on large purchases) does not have any impact on getting new credit.
In the US I have new credit. In both countries I have no mortgage history and in the US I have no credit history other than credit card spending.

Because of these factors my score can't get as high as it should with 24 years of history, no late payments, no collections, no bad marks of any kind. The only aspect I have control over, other than continuing to pay my bills, is to make sure to have a low utilization rate by having high credit limits.
Sr. Member
Oct 31, 2003
859 posts
140 upvotes
Woodbridge
Poutinesauce wrote: Why would you want a $30000 limit on a credit card, this just seems like a huge liability to me. I don't want much more than $10000 per card.
Having a good credit score means that you're responsible with your credit. If you have a large cc limit and have a good credit score, it'll let any FI know you can handle more.

Credit is like chicks.
The less you want it, the more they'll give it to you.
The more you "need" it, the further away they'll stay.
Deal Fanatic
Dec 16, 2005
5594 posts
3652 upvotes
Techiedude wrote: Changes ratios, that whole 20 or 30% of limit is somewhat accurate, but if you have a card with a 10k limit, and you put 9500 on it and it reports, you still lose like 15-20 points with TUs Transrisk, recently had ONE card (made payment but monday was a holiday and wasnt processed) that reported (paid a moving company), lost like 18-20 points, ill gain back next month but its annoying that doing stuff can cause the jump up and down
as I said, if your score is not in the toilet, no need to worry about 20 pts. My score dropped almost 40 pts on creditkarma after I had put 19.5k on one card that has a 20k limit (still had around $60k limit available on other cards).

Does not matter because my score is still 840+ after the 40 pt drop and once it is paid off, it will be back next month.
Deal Addict
Sep 24, 2018
1914 posts
1014 upvotes
mech9t5 wrote: as I said, if your score is not in the toilet, no need to worry about 20 pts. My score dropped almost 40 pts on creditkarma after I had put 19.5k on one card that has a 20k limit (still had around $60k limit available on other cards).

Does not matter because my score is still 840+ after the 40 pt drop and once it is paid off, it will be back next month.
No i agree with that, but those rebuilding those 20 pts can drop them below the 680 mark on CK, on their direct TU it will be worse

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