As the travel credit card landscape continues to shake up, Amex decided it was time to increase its Amex credit card limit. This travel credit card news comes on the heels of Capital One making both its program and cards more valuable by increasing its travel partners and improving its transfer ratios.
Not only is there an Amex credit card limit, but other banks have limits as well. Most notably, Chase has the Chase 5 24 rule. Chase will not approve you for any of its cards if you’ve opened five or more new personal accounts (Capital One business accounts included) in the past 24 months.
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What is the Amex Credit Card Limit?
Amex currently allows you to hold at most five of its credit cards at one time per Doctor of Credit. Charge cards are excluded. More on that in a minute. Assuming you’re approved for five cards, your Amex credit card limit has been hit. This means you are unlikely to be approved for any new Amex credit cards.
Previously, the Amex credit card limit was four. And before that, the limit was five. So, Amex is actually reverting back to an old limit the card issuer had in place. It’s anyone’s guess why American Express made the change but a frothy credit card market could be one answer.
Credit Cards vs Charge Cards
Charge cards include the Amex Platinum Card, Amex Business Platinum Card, Amex Gold Card, Amex Business Gold Card, and Amex Green Card. Generally speaking, any other Amex credit card is considered a credit card, not a charge card.
Amex credit cards have a credit limit and you can finance charges (this likely never makes sense because of the high interest rate) over time. A charge card doesn’t have a pre-set spending limit and allows you to carry balances on some charges. However, it’s best to pay off your balance in full every month.
Examples of Amex credit cards include the Marriott Bonvoy Brilliant, Amex Hilton Aspire, and Delta Platinum Amex. These cards have spending limits and let you finance charges. Overall, Amex allows you to have a combination of credit cards and charge cards as long as you’re under its limit.
Do you like this move to increase the Amex credit card limit? What other changes would you like to see from Amex? Please let me know in the comments below or by sending me an email on my contact page.
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