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Adsan1280

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Got three AMEX card offers, Platinum, Gold and Green - What is the usual credit limit?
So I got three AMEX card offers, not sure which one to go with...I'm looking for a high credit limit credit card with rewards....

My CK credit scores are 683 TU and 681 EQ
What kind of credit limit can I expect?

Also received offers from Chase Freedom, Chase SLATE, Citi Double Cash. Would like to know if anyone has had good experiences/approved for any of these cards with similar credit scores. Thanks in advance for your feedback.

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Charge Cards don't post a credit limit

So this is a rub with AmEx charge cards (green, gold, platinum charge cards - not credit cards) and others that don't disclose your credit limit, this is often termed no preset spending limit - you do have a credit limit on these accounts - its actually a secret. However, since credit limits are not disclosed to the credit bureau that can screw with your credit scores, especially if they are the only accounts reported to the bureau.  Since the credit limit is not disclosed, the credit bureaus often take your highest monthly spending and treat that as your credit limit. The problem with this is that if you regularlly charge the same amount every month it appears that your ultilization is close to 100% - which will ding your credit.  A helpful stragedy to mitigate this is to just charge a whole bunch of charges and then pay it off (charge cards do not permit you to carry a balance).

As far as which card, I have AmEx CREDIT card (not a charge card) so I have a disclosed limit. I have heard that the AmEx Green is the easiest to get. However, before you look at all these cards you should look at your spending, since all of these cards come with an annual fee (waived in the first year usually). Each one of these cards offer a particular bonus (PRG has airfare, resturant bonuses, Platinum has free airport lounge access, but all offer AmEx MR points). I have heard that unless you to a lot of international travel the platnum comes with a hefty annual fee ($425) and is often not a great choice, as far as PRG its benecial if you spend a lot on airfare every year - I'm thinking if you travel domestically on a range of airlines in might be the way to go.  Don't know a lot about Green's rewards - but its the entry card, usually for people new to AmEx or with "thin" credit files (that are less than 3 years old, I would say). I would say that you'll likely get approved for Green, but I'm not sure about PRG and definately not Platinum (yet!). 

But I would look elsewhere, I think you want a specific credit limit. AmEx credit cards and Chase are known to give generous credit limits to their cardmembers who have well established patterns of income and credit. I have a Citi Double Cash and like it a lot (its straighforward and cash is king - not worried about reward depreciation or someone telling me I can't use my cash) - I will say that they are like BofA and give stingy limits. I have six credit cards - all of them have limits over 10K except for BofA and Citi. I've heard good things about Chase Freedom (fairly easy to get, no annual fee), Chase SLATE seems to be more for balance transfers (it has something like 20 months at 0% - longest in the industry as I know).

So here's what I'd say:

1) Looking at your scores, I'm not confident that you'd get a high limit until your score is greater than 720 at least (I think you might have a "thin" file or not an established credit history or perhaps a few late pays - don't worry they'll improve as time goes on)

2) Go visit creditcardtuneup.com to check out what reward card fits your spending pattern - it'll recommend what card might be the best for you (you'll need specific figures based on what you spend each month)

3) I'd steer clear of the AmEx charge cards, get a AmEx no annual fee card (such as AmEx blue or Everyday spending) if you're hearts set on AmEx - it might be a tough sell though until your score gets above 720 though. (AmEx looks at credit reports but they also look heavily on number of hard pulls and income/debt ratio). Don't dispair, I'd look into Chase Freedom or Citi Double Cash. The limit won't be likely over 10K but start slow and then in a few years apply for a credit line increase. Citi allows you to ask for an "instant credit" increase every six months (without and soft or hard pulls) so that might be a nice way to increase your limit quickly. Chase will tend to offer credit lines on their more elite reward cards (Saphire Preferred, Slate) but then you have to factor in annual fees. I'm not sure about Chase Freedom limits.

Hope this helps, but you should check out Credit Card Tune-Up first !

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When you say you got three AmEx offers, do you mean here on CK? Or do you mean directly from AmEx? With your scores I'm doubting it's the latter! As for their credit limits, when I had AmEx (pre-approved, Gold, back before they had platinum), there was no limit. However, there was a hefty annual fee as I recall. And the balance is due in full each month.

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