{ "media_type": "text", "post_content": "Amex Platinum Users - How does “no preset spending limit” get reported to the credit bureaus? Just got approved and 6 months ago my credit was around 580 so this is a huge achievement for me, but I’m also obsessed with maintaining my credit score now. Google has not been helpful; too many answers are no answer. Thank you!", "post_id": "610846ea9175250020d7d22a", "reply_count": 9, "vote_count": 1, "bowl_id": "58f82522753e990016609224", "bowl_name": "All things points" }

Amex Platinum Users - How does “no preset spending limit” get reported to the credit bureaus? Just got approved and 6 months ago my credit was around 580 so this is a huge achievement for me, but I’m also obsessed with maintaining my credit score now. Google has not been helpful; too many answers are no answer. Thank you!

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Are you asking for utilization purposes? It’s a charge card, so there’s no line of credit. The on time payments will get reported though

likehelpful

I’m just shocked that Amex approved it with a 580 score. Enjoy the card! I’m thinking about applying soon before traveling again (soon I hope)

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Haha, it’s over 700 now. I spent the last 6 months aggressively paying down debt, and an Amex Platinum was what I decided would be my tangible result / reminder of my progress.

I just saw your reddit post. Congratulations and enjoy your trip!

likeuplifting

Yo what a crossover event this was 😳

C1 nailed it with one caveat. When banks look at available credit my experience with a few is that they consider the highest payment amount on card in recent months/years (can't recall). It makes ZERO sense what they do, but they'll treat the limit as 10k if you paid 10k as your highest month which helps utilization in short term. A work around I found is to open an Amex Blue card which is an actual credit card. There is no annual fee. They'll adjust limit in part based in spend on your other cards and if you put nothing on it, it will help your calculated utilization and limit stays stable and they don't close it for non-usage as you have other cards on your account.

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That’s a wrap folks. Thanks C1!

Only balance is reported so it doesn't affect utilization BUT you can still get flagged with high balance on account or too many accounts with balances

Love the Amex platinum!

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