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Had the same experience. 10yr card history on one card. $73k salary. $25k limit out of the blue. That Amex has been my go to everyday. Your call is on the money
@@TheJamaicanBwoy From what I heard, a lot of people don’t even get that, so I’m satisfied, for now, but after six months, if I still have a low limit, I’m going to apply for something else.
@@todd7148 I’d be satisfied with a $2k limit. I couldn’t believe it when my friend (age 23) told me that her discover it card has a limit of $11k. My next card will probably be a discover it.
I have three Capital One credit cards, with a total credit limit of $2500. I have over $200k in total credit available on all my cards. At this point, I just keep them open to contribute to my credit history.
The higher the limit the more you can go with 5% and 10% spending before it affects your credit report so the higher the better for me. And I don’t even put more than 1k on my Amex on a regular month but I still have a 25k limit.
@newagain9964 I have 11 current Amex. Counting the ones that ive closed, I ve had a total of 19 Amex cards. I've never had a Financial review. My BBP and Business Prime both have $30k limits
I got my BCE last October with a $6k starting limit. After 92 days I got a 3x CLI. After another 90+ days I did another CLI; on the creditcard subreddit, it seems fairly universal that the suggestion is to stay under 35k to steer clear of a financial review, so I requested $34k and got approved. I plan to stick with that for the time being. Still in the 0% intro APR until January.
ya, i agree with your assessment adam. they saw her as "new customer acquisition" and want her to use that amex card instead of the others. she has a high credit score, so she'll probably be fine, unless she becomes like us & goes for multiple cards with amex, then she may hit her maximum exposure limit.
I wonder if that talks more about the state of the credit card companies than anything else. Mortgage companies are back to 1% down mortgages, and credit cards are offering huge limits. Makes me kinda worried about the financial future of the country.
Great commentary! I’ve had this conversation with family and friends. As long as you are responsible with your spend having high CL is airways a positive.
I just turned 20 years old and my BCE has a $24,000 limit. I could request another CLI since it’s been over 90 days and it could go up to $35,000 but I’m leaving it right where it’s at!
It seems the credit card companies gave credit limit at random. My Bilt Mastercard only has credit limit of $1000, my Amax blue card has $30000 credit limit.
Absolutely lucky lady. I wish I had a high limit like that I've had an Amex BCE since 2022 but didn't use it all that much until the last 10 months. It's been stuck at a $1000 limit, despite recently upgrading to the Blue Cash Preferred
Just got approved a few minutes ago for sapphire reserve. 24yrs, 3 year credit history (All CC & student loans), 784 credit score, $34,000 limit. But I also make >$200k/yr
No rhyme or reason to any of it. I have Amex Plat, Gold, Chase Sapphire etc. I charge pay off every month. Credit score is great. I go to apply for Amex Cash Preferred and get denied. Then a few months later apply for the basic American Airlines branded card with Citi I get 15k. Makes no sense. I stopped trying to figure it out.
Gold isn't better, it's different. If you don't max out the credits you are going to spend a lot on groceries before the extra points offset the high, and probably soon higher, annual fee
So when it comes to having several cards from the same issuer with high limits, I kind of get nervous because I don't want them to get nervous. I swear I've heard stories about how people will be made to go through account reviews especially from American Express and even Discover. But your average person probably doesn't get a ton of cards like people like us do so if they just have one with a large limit from that issuer I think that's a very comfortable limit. And I also bet if she applies for another card from American Express she won't get a $30,000 limit right away if she only make 70k a year
I received the alert for that Reddit post and thought the same as Adam, considering Gen Zers and Millennials have been opening more AmEx cards than older borrowers.
Its great in holding your utilization very low. Just use it once a month for utilities. Awesome if u can get it. Thats how i use my 10k credit card. A very low spend every month. Keeps utilization around 3 percent overall 🤗🤗🤗🤘🤘🤘
Honestly the bigger the CL the better. Just helps keep utilization low. But yeah maybe from her perspective she's worried about discipline? Then it could lead into the dark side that is common among Americans.
Makes you wonder why she's so freaked out. She already has a Discover card and $10K limit on a couple of Chase cards, so if not to increase your CL while keeping utilization low, why even get the BCE in the first place if she's so nervous about credit? Other than the online shopping multiplier there's nothing particularly special about the BCE that she doesn't already have.
I've heard of people getting limits like this but it's never happened to me (my top is $20K). I presume it's because I already have a fist full of cards. If it were me, and didn't have many cards I would keep the limit and see how it goes. If it still made me nervous after a while and especially if I was interested in other cards I would request a reduction.
I have a 15.5K limit I’m thankful the Credit Union gave me it but I will barely use it nonetheless excellent leverage. Any amount of credit no matter the limit is a tool and only that. Everything you borrow should be paid in full monthly, a credit limit is meaningless it only helps with utilization and is there if you have fluid cash in the charged amount and want to build rewards or credit history for using said card.
Honestly I wouldn’t know why you will need a large credit limit on a personal card, business credit card is where it’s at, hide that utilization and make business moves
Super high credit limits can be beneficial. But super high credit limits are also a tool used to increase your perceived risk, decreasing your chances of getting approved for a product from another bank or Credit Union. For example, you might have three cards with Navy Federal and they're all 25,000 limits. Well that makes you look risky to i.e. Chase. Why would every card need to have that high of a limit? You're increasing your own exposure risk.
Well Amex is really prioritizing the younger crowd like myself. So it’s no surprise to me that she got such a limit. She’s in the prime spending years of her life.
The American Express Blue card that the lady received does this card have to pay the entire amount that is charged within 30 to 60 days or can it be more of a revolving card continuing to pay on the balance every month?
I don’t feel comfortable getting a card with high limit, not because of temptations, but It’s just that I lost my wallet before and someone maxed out my card. I will prefer something at around $2-5k limit, just so I don’t have to pay it all the time but can still have that peace of mind.
There's nothing to worry about even if a thief maxed out your card REGARDLESS of your credit limit. Your liability is zero, and the bank will make you whole. Credit card thieves are a good reason for having multiple cards from different issuers as back-ups, since it takes time for the bank to freeze the stolen card, do an investigation, make you whole, and reactivate your card with another credit card number.
@@SledgeIncTeam I have a BCE with $24000 and an Amex everyday that I don’t use with $9000. I’ve wanted to transfer the credit limit on the Amex everyday over to the BCE but haven’t for fear of being financially reviewed because I lied about my income
She should get her credit limit dropped to probably $15,000. The super high limit given by the first institution is going to box her in and keep her from getting credit from other places.
I don't think so. Unused credit increases your credit score and makes others more likely to extend you more credit. I've never heard of someone getting denied for credit because they had too much available credit. Now if someone actually spends that much and doesn't pay it off every month, that would make it hard to get another card
You should check into it. If your CS is low then you’ll be able to raise it very easily with minimal effort. You may not care now, but in a few years it might become very important to you.
@@robocop581 - ahh, i see! Actually, i was in a similar position. Then, i started traveling (a lot) and that’s when CC’s, scores, and limits became more important for me. Also, the more financial liquidity that i had meant that my “cash” was not generating a maximum return! Alas, enjoy your credit-free lifestyle. Most people wish they were in your position! Cheers!🥂
![[Full Guide] How to Climb the American Express Ladder in 2024](http://i.ytimg.com/vi/g5PdY-Kcduw/mqdefault.jpg)
![[Full Guide] How to Climb the American Express Ladder in 2024](/img/tr.png)
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Had the same experience. 10yr card history on one card. $73k salary. $25k limit out of the blue. That Amex has been my go to everyday. Your call is on the money
In other news: After two months of having a Capital One Quicksilver card, I requested a CLI, and they approved an increase from $300 to $400 😂
That is right lol 😂.
@@TheJamaicanBwoy From what I heard, a lot of people don’t even get that, so I’m satisfied, for now, but after six months, if I still have a low limit, I’m going to apply for something else.
I have a Quicksilver card I cant seem to get over $2K but my Venture X is $40K
@@todd7148 I’d be satisfied with a $2k limit. I couldn’t believe it when my friend (age 23) told me that her discover it card has a limit of $11k. My next card will probably be a discover it.
I have three Capital One credit cards, with a total credit limit of $2500. I have over $200k in total credit available on all my cards. At this point, I just keep them open to contribute to my credit history.
The higher the limit the more you can go with 5% and 10% spending before it affects your credit report so the higher the better for me. And I don’t even put more than 1k on my Amex on a regular month but I still have a 25k limit.
I've had a $30K and $25K limit on 2 different cards with NFCU for a while.
Got those limits in my mid 30s.
As long as you're responsible with credit, there's nothing to worry about
Same with the folks the complain about high APR lol you are not using credit correctly if a high number is a concern to you LOL.
Not technically true. If they get a 2nd card with Amex they could be put under review. And Other lenders will have their own concerns.
@newagain9964 I have 11 current Amex. Counting the ones that ive closed, I ve had a total of 19 Amex cards. I've never had a Financial review. My BBP and Business Prime both have $30k limits
Never Request A Decrease In Limit, Never.
Consider it a blessing to have a credit limit that high. Stay disciplined, it works wonders for your utilization, keep up the good work.
Navy Federal gave 25k with 14.9 % I was glad I was siting down when I got approved
In 2 Truist Enjoy Cash in both the 3-2-1 and 1.5% variants, I have $9000 limit in each card. It helps keep my utitlization low and that's it.
Who complains about having a higher limit? that just helps your utilization ratio
Fragile snowflakes
Reddit snowflakes
@@suncat9 lol
@@suncat9lol
I got my BCE last October with a $6k starting limit. After 92 days I got a 3x CLI. After another 90+ days I did another CLI; on the creditcard subreddit, it seems fairly universal that the suggestion is to stay under 35k to steer clear of a financial review, so I requested $34k and got approved. I plan to stick with that for the time being. Still in the 0% intro APR until January.
My first credit card had a $20k limit and I just thought that was normal till I got a second and only had $2k
ya, i agree with your assessment adam. they saw her as "new customer acquisition" and want her to use that amex card instead of the others. she has a high credit score, so she'll probably be fine, unless she becomes like us & goes for multiple cards with amex, then she may hit her maximum exposure limit.
I just got my first credit card. This month, Amex is definitely a credit card I am wanting to get when I can.
I have 30k limit on same card! Don't look a gift horse in the mouth! Lol Great content,as always,Adam!🎖
Great content as always, thanks Adam!!!
I have a $17,000 credit limit on AMEX, I never used more than $1k of that balance, but normally I only use about $200-300 per two weeks on it.
I wonder if that talks more about the state of the credit card companies than anything else. Mortgage companies are back to 1% down mortgages, and credit cards are offering huge limits. Makes me kinda worried about the financial future of the country.
Great commentary! I’ve had this conversation with family and friends. As long as you are responsible with your spend having high CL is airways a positive.
I just turned 20 years old and my BCE has a $24,000 limit. I could request another CLI since it’s been over 90 days and it could go up to $35,000 but I’m leaving it right where it’s at!
It seems the credit card companies gave credit limit at random. My Bilt Mastercard only has credit limit of $1000, my Amax blue card has $30000 credit limit.
I am 23 with a $30,000 limit on my blue cash and I have 6 other cards on top of that, I’ve made $50k for three years
How did you do that?
Absolutely lucky lady. I wish I had a high limit like that
I've had an Amex BCE since 2022 but didn't use it all that much until the last 10 months. It's been stuck at a $1000 limit, despite recently upgrading to the Blue Cash Preferred
Just got approved a few minutes ago for sapphire reserve. 24yrs, 3 year credit history (All CC & student loans), 784 credit score, $34,000 limit. But I also make >$200k/yr
What is your work?
@@suncat9 Software Engineer at Big Tech
Did they require salary information?
No rhyme or reason to any of it. I have Amex Plat, Gold, Chase Sapphire etc. I charge pay off every month. Credit score is great. I go to apply for Amex Cash Preferred and get denied. Then a few months later apply for the basic American Airlines branded card with Citi I get 15k. Makes no sense. I stopped trying to figure it out.
She should have gotten a better card like the Gold, but I can see where she feels a bit weirded out with the limit.
Gold is the one to get! So heavy you can use as a defense against robberz!
Gold isn't better, it's different. If you don't max out the credits you are going to spend a lot on groceries before the extra points offset the high, and probably soon higher, annual fee
The Gold card is kinda useless to a lot of people.
I’m very proud of her she’s manage very well
So when it comes to having several cards from the same issuer with high limits, I kind of get nervous because I don't want them to get nervous. I swear I've heard stories about how people will be made to go through account reviews especially from American Express and even Discover. But your average person probably doesn't get a ton of cards like people like us do so if they just have one with a large limit from that issuer I think that's a very comfortable limit. And I also bet if she applies for another card from American Express she won't get a $30,000 limit right away if she only make 70k a year
I received the alert for that Reddit post and thought the same as Adam, considering Gen Zers and Millennials have been opening more AmEx cards than older borrowers.
Just received Wells Fargo’s New Business Credit Card Any thoughts on it.
Amex is getting more lieniant. Always the hardest credit/charge cards to get. Smart move to give her the high limit !
Its great in holding your utilization very low. Just use it once a month for utilities. Awesome if u can get it.
Thats how i use my 10k credit card. A very low spend every month. Keeps utilization around 3 percent overall 🤗🤗🤗🤘🤘🤘
Chase's guidelines are common sense, and a good yardstick.
Honestly the bigger the CL the better. Just helps keep utilization low.
But yeah maybe from her perspective she's worried about discipline? Then it could lead into the dark side that is common among Americans.
Idk what’s tempting about spending money you owe back…
My credit limit on the same card is 5000
Makes you wonder why she's so freaked out. She already has a Discover card and $10K limit on a couple of Chase cards, so if not to increase your CL while keeping utilization low, why even get the BCE in the first place if she's so nervous about credit? Other than the online shopping multiplier there's nothing particularly special about the BCE that she doesn't already have.
askin for less is bananas
DP: I have asked chase to lower my CFF from 20k to 5k, easy phone call, no questions asked
I've heard of people getting limits like this but it's never happened to me (my top is $20K). I presume it's because I already have a fist full of cards. If it were me, and didn't have many cards I would keep the limit and see how it goes. If it still made me nervous after a while and especially if I was interested in other cards I would request a reduction.
That's nice, but consider the 20% interest rate.
You don’t have to leave a balance…
I got $20,000 on my blue cash prefer I love my Amex
When you’re the ideal targeted customer, the banks will extend courtesy. Why she chose to look a gift horse in the mouth, is beyond me??
I have a 15.5K limit I’m thankful the Credit Union gave me it but I will barely use it nonetheless excellent leverage. Any amount of credit no matter the limit is a tool and only that. Everything you borrow should be paid in full monthly, a credit limit is meaningless it only helps with utilization and is there if you have fluid cash in the charged amount and want to build rewards or credit history for using said card.
Honestly I wouldn’t know why you will need a large credit limit on a personal card, business credit card is where it’s at, hide that utilization and make business moves
Super high credit limits can be beneficial.
But super high credit limits are also a tool used to increase your perceived risk, decreasing your chances of getting approved for a product from another bank or Credit Union.
For example, you might have three cards with Navy Federal and they're all 25,000 limits. Well that makes you look risky to i.e. Chase. Why would every card need to have that high of a limit? You're increasing your own exposure risk.
Haha, I read that post
Well Amex is really prioritizing the younger crowd like myself. So it’s no surprise to me that she got such a limit. She’s in the prime spending years of her life.
Prime spending is 30s-late 40s. Mostly 30s tho.
@@newagain9964 great point there 💯
The American Express Blue card that the lady received does this card have to pay the entire amount that is charged within 30 to 60 days or can it be more of a revolving card continuing to pay on the balance every month?
Regular credit cards. You can carry balances, but in this financial environment who wants 30% apr. The Blue Cash cards are not the charge cards.
@@scarling9367BCE has a 0% APR intro for the first 15 months, fwiw
No.
Good take
I don’t feel comfortable getting a card with high limit, not because of temptations, but It’s just that I lost my wallet before and someone maxed out my card. I will prefer something at around $2-5k limit, just so I don’t have to pay it all the time but can still have that peace of mind.
You can just dispute the charges…
There's nothing to worry about even if a thief maxed out your card REGARDLESS of your credit limit. Your liability is zero, and the bank will make you whole. Credit card thieves are a good reason for having multiple cards from different issuers as back-ups, since it takes time for the bank to freeze the stolen card, do an investigation, make you whole, and reactivate your card with another credit card number.
If you max out a 30k limit you have problems….
Not if you have the cash to cover it.
Everyone knows that
Hi I want a Macys American Express I have the regular Macy’s, how do I go about getting the American Express?
Trying to bait younger customers into debt smh hopefully they're aware and mindful of the whole credit world💯
In this case the person seems to have it under control.
If she gets into debt, then it's her fault not Amex
@@cardojp No risk no reward!
She's 25. She's a big girl now, she goes out and does stupid things that's on her.
😊
Did they send her an income verification form? I thought with Amex credit limits over $25k they check your income
not that she mentioned, and she did not ask for the $30k, they gave it to her at approval.
I've heard that too but I have several Amex cards with a couple at $30k and I have never had a Financial review
@@SledgeIncTeam I have a BCE with $24000 and an Amex everyday that I don’t use with $9000. I’ve wanted to transfer the credit limit on the Amex everyday over to the BCE but haven’t for fear of being financially reviewed because I lied about my income
@@SledgeIncTeam oh wow several with 30?thanks for offering that info
No, they don’t. That’s a myth.
She is danger of drawing a credit review if she ever gets another AMEX card. Any card over $25K limit or total of $35K, per data points.
Yeah. She better hope if/when she applies for a 2nd card it’s lot less CL. under 10k definitely
Just get a charge card so you know you have to pay it off.
Yeah. But no real advantages to charge cards. Hence coupon book method Amex started to encourage ppl to use them.
She should get her credit limit dropped to probably $15,000.
The super high limit given by the first institution is going to box her in and keep her from getting credit from other places.
No..if she overspends amex will reduce it
I don't think so. Unused credit increases your credit score and makes others more likely to extend you more credit. I've never heard of someone getting denied for credit because they had too much available credit. Now if someone actually spends that much and doesn't pay it off every month, that would make it hard to get another card
@@travis1240 You just met one. That's why I said it. Because I lived it.
I have no idea what my credit score and credit limit is and I've never looked them up. I just frankly don't care
You should check into it. If your CS is low then you’ll be able to raise it very easily with minimal effort. You may not care now, but in a few years it might become very important to you.
@@Bacnow I don't need credit score. I can easily pay cash for most items, including a condo
@@robocop581 - ahh, i see! Actually, i was in a similar position. Then, i started traveling (a lot) and that’s when CC’s, scores, and limits became more important for me. Also, the more financial liquidity that i had meant that my “cash” was not generating a maximum return!
Alas, enjoy your credit-free lifestyle. Most people wish they were in your position! Cheers!🥂
If you are ever denied credit, or don't get the best rate (e.g., a mortgage), you WILL care.
@@suncat9 I own five fully paid rental properties generating cash every month. I am my own bank
only gave me 2000. put the card aside already. even amazon chase gave me 9000, what is the problem with you, amx.
They gave me 3 increases in a year, I started with 3k on that card. Just use it for gas and you'll get increases
Probably you don't have a thick enough file which is what Amex likes to see.