Expanded Buying Power Check-In

EBP1

100

Previously the amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors.  Now the amount that you are able to spend above your credit limit is fixed, so you always know what you have available. Any charges above the Expanded Buying Power limit will be declined. Also keep in mind that any amount you spend above the credit limit will be added to your minimum due and must be paid in full at the end of the billing cycle.

What is the difference between what my previous limit was and now?

200

• If GL is added and LOC is not impacted: No, unfortunately, this decision cannot be appealed.
• If GL is added and LOC decreased: No, unfortunately, this decision cannot be appealed.
• If only action is LOC reduction: Yes, we can put in a request to appeal for your credit limit to be restored.

Can I appeal the decision?

300

For LOC changes:  Any change in the line of credit gets reported to the bureaus, but if you have more specific questions on what the impact is and how your score is calculated, you will need to reach out to the credit bureaus directly.

For Global limit that is added: No, placing the limit on the account makes no change in how the account is reported

Will this change negatively impact my CBR?

400

You were sent a letter to inform you about a limit that was added to your Expanded Buying Power feature. You have a Line of credit which is the portion that can be carried month over month.

You also have an option to spend above your credit limit which previously was flexible and adjusted with the use of your Card, payment history, credit record, financial resources known to us, and other factors.  Now the amount that you can spend above your credit limit is fixed. Any charges above that expanded buying power limit maybe declined. Also keep in mind that your spend above your credit limit will be added to your minimum due and must be paid in full at the end of the billing cycle.

I got a letter regarding a preset limit, what does this mean? Why do I have two limits?

500

No, you can pay the card up to your posted balance.

Can I prepay my card?

EBP2

100

 No, there is no over limit fee for going over your credit limit, just keep in mind the amount that you charge above your limit will be due in full and added to your minimum payment due for the following month.

Will I get penalized (over limit fee) for going over the limit?

200

You would be able to spend up to your credit limit with confidence, as long there are no holds on your payment. The spending capacity for your expanded buying power is flexible and we would know how much you can charge once the payment is made. Also keep in mind that the amount you spend above the credit limit will be added to your minimum due and must be paid back at the end of the billing cycle. Would you like to process a payment by phone so we can maximize your spend availability?

If I pay my card in full how much can I spend?

300

Each charge you make is evaluated separately, and the amount you can spend varies based on your use of the Card, your payment history, credit record, your financial resources known to us and other factors. Using your Card regularly and making timely payments can help to increase your additional spending capacity.

I was approved for higher amount earlier on the Check Spending Power tool, why am I only allowed a lower amount now?

400

• The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us, and other factors. Just remember, the amount you can spend with Expanded Buying Power is not unlimited.
•  You can always check future usage online to find out what your expanded buying power amount is. Please keep in mind that the amount above your credit limit is due in full and added to your minimum due.
• You may also want to look at automating lowering your balances for continued spending through the Intra-Cycle Autopay tool. This tool allows you to schedule balance based and frequency based payments.

Why do I have to keep calling to spend over the credit limit?

500

It depends on how much you would need to charge on the card. You can always check your spending power online, or we can together over the phone.

What would I be required to pay to open spend?

EBP3

100

The EBP varies based on factors such as use of the Card, your payment history, credit record, and financial resources known to us; so, it will likely change. At the beginning of the relationship, you may encounter some “growing pains” as you build your history with the Card. Consistent use and on time payments will help your EBP grow.

Why is my EBP so low now when I was able to charge higher last month?

200

• The amount you can spend above your credit limit is flexible, so it adapts with your use of the Card, your payment history, credit record, financial resources known to us.
• You can increase your Expanded Buying Power by using the feature regularly; this will continually increase the amount you can charge by showing your ability to pay higher amounts. Also Pay all your accounts on time, including those outside of American Express and maintain a good credit profile.

How can I increase my Expanded Buying Power

300

• It can take approximately 6-12 months to learn your spending and payment patterns. From there, we enable spending based on the learned patterns as well as internal and external credit factors known to us. Just keep in mind that the amount you spend above your credit limit will be added to your minimum due and must be paid back at the end of the billing cycle.

When is my card not considered new to ensure spend over my credit limit?

400

Yes, you can go over your credit limit without any overlimit fee, just keep in mind the balance above the credit limit is due in full and is included in your minimum due. If the minimum due is not paid, then interest charges would apply on both balances.

Can I go over my line of credit? What happens if I go over it?

500

• Expanded Buying Power offers more flexibility than just your Line of Credit, in terms of spend. With Expanded Buying Power, you have the option to spend above your credit limit and earn rewards for the purchases where you use Expanded Buying Power, just like you would on other purchases made on a Card.
• Just keep in mind that the amount you spend above the credit limit will be added to your minimum due and must be paid back at the end of the billing cycle.

What is the benefit of using EBP card?

EBP4

100

• You have the option to pay the card up-to your balance. Your card does allow you to charge above your line of credit, we can check how much it is approving for once the payment is processed.
• The good news is your card offers a benefit called expanded buying power.  This means you can spend above your credit limit, however the amount you spend over the limit will be added to the minimum payment and will be due in full on the next billing statement.   
• If the CM is ok with paying in full, check spend power and proceed with recommendations based on outcome
• If the CM does or cannot pay the expanded buying power in full, recommend LOC increase

I want to make a one-time large purchase which is above my credit limit, how can I do that?

200

No, there is no overlimit fee, just keep in mind the balance above your credit limit is required to be paid in full and is included in your minimum due for the following month. If the minimum due is not paid, then interest charges would apply on both balances, an overlimit fee will not apply.

Any fees for the overlimit?

300

• You will have your usual minimum payment for the balance you are carrying over and the balance above your credit limit is required to be paid in full along with that.

What will my payment look like if I’m above my credit limit?

400

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How old is Amex?

500

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