American Express Credit Card and Charge Card Spending Limits

[@joseantoriano8994]

Thumbs up before watching the video, because I know it will be a nice video!

[@SimonKatzShow]

Thanks for watching.

[@P8REN]

Once I paid about £8000 GBP on my Gold card at a Mercedes dealer towards my new car. I also bought from Rolex for £12,000 (approx $14,500 USD) on my British Airways Premium Plus Amex card and it went straight through, no issues whatsoever. Even the folks at the store were surprised.

[@jahsemgayle9088]

Even though I believe that the cost of owning one of these cards is basically Amex spending your money for you to enjoy life differently such as luxury lounge, concierge, etc . I will eventually get a centurion card ☺️

[@Th33Vultur3]

My best friend has the Platinum and actually, they feel the Centurion card is NOT worth it even though they can afford it if accepted. I can respect that, for each their own.

[@joelmarcott3282]

I think with AMEX the color of the card doesn't really matter. It's WHO you are and how much financial horsepower you have! Remember that Warren Buffet has a plain Green AMEX Card. But I can guarantee you, because of who he is, his card has as much purchasing power and personal service as any Centurion Card. It just depends on the individual situation.

[@SimonKatzShow]

You do not have to have the card to show you have money. I think people do it in many ways.

[@MrOPM-vc6ow]

Color definitely has something to do with it no matter who you are. That green card benefits are nowhere in the same ball park as a platinum let alone a Centurion card 🤦🏾‍♂️. Definitely not the same personal service.

[@drrob001]

Your videos give me hope. I can’t wait until I’m able to charge $20k and pay it off immediately.

[@SimonKatzShow]

Make it happen! Goals!

[@wbaiey0]

You can do it Bro. Stay focused

[@drrob001]

@@wbaiey0 definitely, thanks

[@mercedesmcgrew9656]

You and me both! 🙏

[@matthewrammig]

I can’t wait until you can save $20,000 immediately.

[@thedufloth]

I read once that the most expensive purchase on the centurion card was a private jet for $30M. If I’m not wrong, it was Denzel Washington. Just for that I’ll say that you can buy anything if you can afford.

[@SimonKatzShow]

Someone bought a $190 million painting I think.

[@thedufloth]

Yep, Just saw that! 😅 definitely you can buy anything if you can afford it. Simon I have a question, do you have a minimum spend you have to keep on the card every month?

[@nathanpeters9515]

If I dropped $45k on a Rolex, I know for sure my wife would put me in the heat room and force me to upgrade her engagement ring or buy something different for a higher price than whatever I spent.

[@SimonKatzShow]

That all happened with my wife as well already prior to my purchase. She planned ahead 😂🤣🥲🤦🏻‍♂️

[@bramvandersluis8129]

Another true video, I also did buy a Skydweller at my AD and the payment went true with no problem with my Centurion card😉. And yes you have the pay the full amount you spent every month.

[@SimonKatzShow]

Love the Sky. Which one you get?

[@bramvandersluis8129]

@@SimonKatzShow Got the gold black plate 😉 The Sky is the most technical masterpiece there is from Rolex.

[@rickthunderwood3053]

Member since 2003. Used heavily for years. Haven't used my card in more than a year. Declined when I tried to use it.

[@SimonKatzShow]

They say if you do not use a card for 2 plus years, they cancel you. Same with the banks.

[@nubianpwr]

Good stuff Bro... U always celebrate success, while simultaneously cautioning people to "live within their means". Luv ur discipline👍🏾

[@SimonKatzShow]

Thank you brotha 🙏

[@shawnjohnson7119]

This is a good video bro

[@SimonKatzShow]

Thank you 🙏

[@EngineerDJ_Julius]

I was talking to a customer service representative last week, and he told me that the AMEX Gold and Platinum don't have spending limits. Totally caught me off guard when he told me that. However it doesn't encourage reckless behavior

[@HPX584]

Lol there’s nothing surprising to that when you pay off ur normal credit card in full each month

[@klvAcosta]

It doesn’t but it does.

[@byronjeffery2576]

You forgot to mention that all of the Amex Charge cards have pay over time features that vary in Limits so one could use there charge card as a hybrid charge/credit card.

[@SimonKatzShow]

Good addition but I don’t like to pay over time because of fees. I recommend always paying right away and spending what you can pay that month.

[@Th33Vultur3]

@@SimonKatzShow I just got the green card Valentine's Day 2022 as my first Amex charge card and I'm paying all my regular charges right away and once the first annual $150 fee hits at the end of the month, it shouldn't be as high along with my regular charges. After a year, I can decide to stay with it or "downgrade" to an Amex credit card instead of staying on the Green Card unless Amex gives me a very good retention offer in points and minimum spend at years end or I'm going to use up all my points and switch over to like I said, a no fee card with Amex points and stay with Amex even though if I go back to the Green Card in the future, the sign on bonus is "once in a life time". I only have my Chase Freedom Unlimited and Chase Amazon once since its with my bank, which of course is Chase and the Apple card. I have to remember to use the other 3, put small purchases from time to time to keep them open even if its once a month.

[@richardhart9204]

Yep, take it easy with all your cards people, especially your Amex cards.

[@hoomee119]

You can spend on card what you have shown you can afford, I hardly spend on my Centurion card and before I make any large purchases I always give my account manager a call. A large purchase to me is £25,000.00

[@louispapa7347]

Well done as always Simon! Love the video and info.

[@SimonKatzShow]

One Amex video at time. Appreciate you.

[@rooo2679]

thank of this information! i'm 17 year old now I'm looking for information on how to start using a credit card, thanks

[@SimonKatzShow]

Glad it was helpful! Checkout my other credit card videos for beginners!

[@mogahadfadah5694]

When I grow up I wanna be like you man 🙏🏻

[@SimonKatzShow]

Me too. Lol thanks for watching.

[@TMartins379]

I have the platinum card but I wouldn’t be able to sleep at night if I charge 35k on my card.

[@SimonKatzShow]

I don’t Siri much at night as it is 😂

[@kaelon11]

If you spend 30k do you have to pay 30k back the following month? Or is it a few thousand?

[@SimonKatzShow]

It’s best to pay in full every statement.

[@Cali_Ice]

How would I benefit from the platinum card if I don’t travel, I was approved today

[@SimonKatzShow]

Most of the benefits are with travel.

[@Cali_Ice]

@@SimonKatzShow so canceling would save me trouble?

[@ssgrgohan8254]

@@Cali_Ice gold is better

[@iLLSinceProductions]

Love your channel. Thanks for the amazing info

[@SimonKatzShow]

Thank you. Appreciate the feedback 🙏

[@GraphyteTV]

It’s simple. I see a credit card video from you and I drop everything 😂

[@shortfunnyclips2046]

I hope I grow my business for the centurion

[@SimonKatzShow]

Get it and make it happen!

[@linkedinfred]

When you think about, what lender would give you a green light to spend whatever you want? They would likely be out of business within 6 months

[@nythepremier]

What’s your single biggest transaction on AMEX platinum?

[@SimonKatzShow]

I’d say it was a luxury watch back in the day maybe $12k. Good question.

[@cheapshot7244]

How does the Amex show up on your credit report since there’s no numerical limit? Does it just report current balance ? If any. For example a regular credit card would likely show up 0/10000. 0 indicating the balance and 10000 indicating the credit limit.

[@SimonKatzShow]

The credit companies still indicate a high and low credit limit but it is based on your max spending that you have done in the past for Amex

[@julianfp1952]

I’m not sure how it works in other countries but I think the credit rating agencies are a pretty international businesses so many countries are probably like the UK. I have a service that checks my Experian rating every month which is one of the big credit ratings agencies at least in the UK. When I had a Capital One credit card and my Amex gold charge card I had a perfect credit score, 1000 points out of a possible maximum of 1000, but after I cancelled my Capital One card because I was only using my Amex charge card my score fell to 963 points and when I clicked on a link on my credit report to see what was dragging down my score it said it was because I was not demonstrating any ability to successfully service a credit account because I had no credit accounts to my name despite the fact that I had been putting tens of thousands of pounds a year on my Amex charge card every year for many years and had never missed a monthly payment. This makes me think that, at least for Experian in the UK, an Amex charge card (as opposed to a credit card) doesn’t seem to show up at all at least in terms of being a line of credit. I’m sure you’d get a black mark on your credit card if you missed a payment though. I sometimes wonder whether I should get a free credit card or maybe buy something on interest free credit just to see if I can get back to that perfect 1000 credit score.

[@marcrobinson9275]

Due to COVID, they are redoing the books and sending them again this winter.

[@jgvincent2432]

I have a Discover It card and I pay most of my balance by the statement closing date and leave about 1% to be paid before the due date so it can be reported that I’m having a low utilization rate. However, with the Amex gold, there is a no preset limit. If I carry for example 2000 past the the statement date but pay it off before the due date does that negatively affects my credit score and spike my utilization? Or should I keep paying it like I do the Discover Card?

[@AmineHamlouchi]

Did you find the answer to this question?

[@jgniqqa6731]

@@AmineHamlouchi I did actually…it doesn’t affect you at all unless you don’t pay by the date your bill is due on the statement…

[@terrencemilton5088]

I was afraid of American Express card. When you spend to the point of no return.

[@brianpatrick9902]

Yes they don’t tell you until you get rejected

[@AhabGoldberg]

I got approved for amex "business" platinum. I make 300K+ per year. Do you think theyll approve for a 60K bill for the 1st time when I use it? Also, given my quick figures here, what would you think my spending limit is based on the info I've shared with you?

[@SimonKatzShow]

Yeah they will. It will be your high limit. Then you can probably go higher next time around.

[@teslatalk42069]

Yes, they have limits. I know this because your cards got shut off because of a limit that you didn’t even know about.

[@NitayNostrasifu]

I like to pre pay my card Amex and just use what I put on there. You can wire direct to Amex

[@ivanvasconez3940]

How

[@kaelon11]

What’s s good example of the monthly payment minimum? If I spend $20k in a month. How much do i have to pay back? Like a credit card?

[@rottmany]

U wouldn’t like to do that, the interest are going to be in the moon.

[@coziii.1829]

What about buying a 260k vehicle?????

[@SimonKatzShow]

Yes, someone I read bought a Lamborghini with points!

[@speedycerviche3653]

I just got the green card and I’m clueless to know what I have to play with I’d love to buy a new couch

[@jonathanfactor6688]

Great video thanks

[@SimonKatzShow]

Thank you!

[@matthewnguyen7927]

Cool vid 👍👍

[@jesuscorrea8911]

Excellent job

[@SimonKatzShow]

Thank you 🙏

[@HPX584]

If I sign up for this card and I get it in the mail. Any idea what my max buy power will be if my other cards have a 19k limit and score of over 800?

[@SimonKatzShow]

Depends on your credit and past spend history.

[@HPX584]

@@SimonKatzShow will I be able to put 10k on the card or is that something Amex doesn’t do for new holders?

[@jimmygarcia1534]

After the platinum card what card comes after?

[@OMRS1]

The black card. Cost several thousand a year and i believe is invite only after you’ve spent so much with the platinum. I think I heard in the 6 figure range.

[@marcrobinson9275]

You did not mention that all the Centurion Card New Experiences have been postponed !!!

[@SimonKatzShow]

Need to check on that. Why?

[@Th33Vultur3]

I still remember Shaquille O'Neal being flagged a few years back because he spent $70,000 at Walmart a few years back in one night to furnish his apartment, they called him and Amex thought that someone stole his credit card and they are at Walmart, when Shaq verified it was him that was making the purchase, Amex was likelike, "What did you buy?" Then Amex immediately turned his card back on. People can't believe that he's worth $400 million and still shops at Walmart and he spent so much. kzbin.info/www/bejne/Z4iWcmWehs2XnZY kzbin.info/www/bejne/Z3XJd4SdirJ_mJI

[@mranderson8725]

The Diesel is as humble as they come

[@Th33Vultur3]

@@mranderson8725 I felt the only mistakes that Shaq made was not notifying Amex that he was traveling from Miami to Phoenix knowing he got traded, checking his spending power or telling them that he would make such a large $70,000 purchase that no wonder Amex thought his credit card might have been stolen. Glad he was able to clarify everything though. As a result, he gained being a spokesperson for both Amex and Walmart knowing he uses both.

[@vickyvictoria3604]

Thank you!

[@SimonKatzShow]

Thank you too 🙏

[@jbaru648]

I’m gonna buy a gold toilet!

[@SimonKatzShow]

Which movie was it where the guy was like I LOOOOOVE GOOOOOLD haha

[@ipickplanet9067]

How does it calculate on your credit score

[@garysimpson7326]

I wonder if you could buy real estate with an AmEx. If you have the cash up front, you could put it into the account before the transaction and then make the purchase and then refinance if necessary.

[@SimonKatzShow]

People have bought things over 100 million dollars on one charge so I do not see why not as long as you can pay for it.

[@noumenord]

Good video

[@fatalbert3633]

I want to buy a apple laptop for 1200 plus taxes and wondering if that’s going to be a problem my biggest single spend was $580

[@mintico]

Gold is around $105~$130k max i think Plat maybe can get up to $200k ish The centurion god knows what’s the limit lol

[@OMRS1]

I’ve seen the plat at $500k. Amex gives you a “limit” based on your spending

[@ryanathins6470]

What happens if you surpass your credit limit ?

[@garrymyers8459]

Thank you sir

[@SimonKatzShow]

Thank you

[@Moan_smith]

*DAWGGOAT* Imma give you 5 Stars. You make everything so easy, Got the card within few days you told me. This really went so impressive more than I thought. I’m investing again till i make it outta the hood

[@cideliagonci9129]

✈

[@SimonKatzShow]

Cheers!

[@briondionetoler]

i wanna wait

[@darklurgonteleg7183]

👆👆👆👆 if you’ve not being dealing with me y’all missing a lot he’s the greatest of all time

[@whaledane7063]

@dumpslark is one Of the honest dude here

[@darklurgonteleg7183]

👆👆👆👆 if you’ve not being dealing with me y’all missing a lot he’s the greatest of all time

[@whaledane7063]

@dumpslark is one Of the honest dude here

[@darklurgonteleg7183]

👆👆👆👆 if you’ve not being dealing with me y’all missing a lot he’s the greatest of all time

[@whaledane7063]

@dumpslark is one Of the honest dude here