Amex Business Gold & Plum

Amex Business Gold & PlumAmex Business Gold & Plum
MagTarma asked 3 years ago

We were approved for Amex Gold & Plum back in Sept 2014. At first, they told us it was unlimited and we said we would probably spend $ 20k on each during the month. Once we got the cards, business boomed and we managed to spend $ 20k in about 1 1/2-2 weeks. Well, Amex freaked out and put a hold on them for review. Once the review was over, they told us they were going to put a limit of $ 3000 on each AND take my personal Blue Sky from $ 10k down to $ 3100. Smiley Mad  While I have had my reg Amex for several years and my credit history is perfect (see scores below) and never a late on ANY cards or anything, I was super frustrated but what could I do.

 

After having the Gold & Plum for not quite a year, they increased the limits on both the Gold & Plum to $ 6,000 each. Then they upped my Blue Sky to $ 9300.

 

NOW…I just realized when I log in it’s back to saying (this is what it said when we first got them) “No pre-set spending limit”  Smiley Surprised  It also states “No Pre-Set Spending Limit does not mean unlimited spending. Purchasing power adjusts with the use of the account, payment history, credit record, and financial resources known to us, and other factors.” 

 

So does this mean that they finally took the actual $ 6,000 “limit” off of it like it was in the beginning and they will just approve accordingly? I know there’s a button on there that you can check if something will be approved. We tried last night in increments of $ 5,000 and it approved all the way up to $ 15k and then after the third try, it said we were trying too much and would have to contact them for additional approvals, then the button was removed. Today I log on and see that it’s back, but I’m not going to try anything because I didn’t want to throw any red flags. I just wanted to see just how far they would let the cards go up to.

 

Now I can say that even when we had limits, they allowed us to go WAY past the limits by about 2 1/2x before denying any charges. We recently obtained another business card with a $ 17k limit, which helps keep most of our business expenses on that one because these Amex cards are just so low and only takes a few days to hit the low limits they had placed on them. We charge the other business card, which also lets us go WAY over the limit, every 2 weeks and then recharge again.

 

History: All of them (including our personal cards with combined limits over $ 75k) are paid in full every single month. We don’t pay either the Gold or Plum until the bill cuts so that we can take advantage of the discounts you get for PIF monthly with cash back (applied to the card). I have to say that I HATE this having to wait. Once they have reached the limit within a week or two, we have to revert to another card for use while we wait out the entire month for these to cut so that we don’t lose our cash back. Smiley Sad

 

So I just wanted to hear thoughts on what might be going on with these two cards. Did they remove this limit? OBVIOUSLY we WILL NOT be putting an abundance amount of charges on these two cards to throw another red flag like last time. We will moderately use them and use our Chase Business SW card as the primary card until Amex feels comfortable with us. It would just be so nice to have ONE card that was unlimited that all expenses can go on to easily keep track of stuff. Life could be so much easier. Sigh

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