Jane Parker, Member
@parker16
It’s actually impossible to tell what your American Express Business Gold credit limit will be. Amex won’t even tell you what it is after you get approved. You have to call customer service to ask. That’s because the Amex Business Gold Card has “no preset spending limit,” which means the amount you’re allowed to spend can change every month. It can be a confusing system at first, but getting a feel for what affects the limit will help.
Here’s how the American Express Business Gold credit limit works:
- You have no-preset limit. You do have a limit on the card. It’s just not stated, and it fluctuates every month. But you can call the number on the back of your card to ask what your current spending cap is. You can also call to ask for more spending power if you’re planning to make a big purchase.
- Your spending affects your limit. Amex takes your past spending into account when deciding your limit. If you haven’t been using up a lot of your available credit thus far, you may actually receive more as a reward for being responsible.
- Payment history is important. Amex Business Gold is a hybrid card, meaning you’re supposed to pay off the full balance every month most of the time. If your payment is late, they’ll charge a fee and maybe even lower your limit.
- Amex looks at overall credit history. If you pay your other loans and lines of credit on time every month and keep your credit utilization low, Amex will see you as more trustworthy and will be more likely to increase your spending power.
If you end up getting Amex Business Gold, make sure to keep track of your spending. You may want to give Amex a call if you’re ever approaching what you spent last month, just to see how much room you’ve got left. It’s also worth noting that no preset spending limit cards can create problems for your credit score. Because there’s no single, static credit limit, the account’s highest balance may be used instead. That means your credit utilization will be calculated by dividing the balance listed on your monthly statement by the biggest monthly balance you’ve had since opening the account. So if you usually spend about the same amount, unfairly high utilization could hurt your credit score.
American Express Business Gold’s complicated credit limit isn’t for everyone. And that’s fine. There are plenty of great business credit cards with standard credit limits. Chase Ink Business Preferred and Capital One Spark Cash for Business are just two examples.
William Drake, Pro Fisher
@will_drake
Even though they say it's NPSL, it's not really like that so give them a call and find out. It's different from one cardholder to another.
Daniel Thompson, Member
@daniel_thom_3
There's no set limit, it will change as you go along.
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