Amex Platinum Credit Limit

American Express has one of the most high-value premium credit cards available in the market. Several years ago, American Express rolled out a line of cards that operated more charge cards than traditional credit cards. One of those cards is the Platinum Card from American Express, a rewards card that offers maximum benefits and rewards to its cardholders.

The Amex Platinum Card is one of a kind, offering exclusive perks and offers never seen before in other premium cards. Therefore, only those who can afford and maintain it are legible to apply for and receive the card after meeting the set requirements.

The American Express Platinum Card has one of the best and unbeatable benefits to its cardholders, although it is expensive to maintain. First, the Amex Platinum Card carries a $695 annual fee, one of the highest annual fees among competing cards. Then, the Platinum Card does not function as a traditional credit card due to its initial rollout as a charge card.

Therefore, cardholders must pay the credit balance in full every month to avoid a 29.99% APR penalty. However, a charge card does not have a pre-set credit limit, although it does not mean a credit limit does not apply, as seen in the article below.

Key Takeaways

·         American Express Platinum Card does not carry a pre-set credit limit since it works more as a charge card than a credit card

·         There are a few things cardholders can do to increase their credit limit on their Platinum Card, including their credit history and payment history

What is a Charge Card?

A charge card is defined as a type of credit card that does not carry a pre-set credit limit. Therefore, you can spend as much as you want using the card without worrying about a limit, unlike a traditional credit card. A credit limit simply means the highest amount of money you use as credit without spending more once the limit is reached.

However, in some cases, you may apply for an overdraft, depending on your credit card company, after meeting some special requirements. In most cases, you can only go over your credit limit if you apply for an increase in your credit limit.

Although the charge card has no pre-set spending limit, some terms and conditions apply regarding the credit limit. In this case, American Express will look at your spending history and determine which categories you spend more on. Thus, you will have higher spending limits for categories you spend more on and fewer spending limits for categories you spend less on.

If you wish to make a huge purchase, use the Check Spending Power tool on the American Express website or app. That way, you will know if it is possible to use your Platinum Card and make the purchase before making the actual purchase.

American Express

However, using a charge card has a catch when it comes to paying the credit balance monthly. The cardholder must pay the card balance in full every month, which may seem too much compared to traditional credit cards. However, American Express has the Pay Over Time payment plan that allows cardholders to pay their card balance over time.

Pay Over Time allows cardholders to pay for eligible purchases at an interest, although other purchases will be paid in full monthly. Thus, cardholders of American Express charge cards, such as the Platinum Card, are relieved of a huge credit balance burden.

Failure to pay the credit balance on a charge card will result in the credit card company reporting the cardholder to a credit bureau. Also, the cardholder will attract a penalty interest of 29.99% APR and penalty and late fees. Late payments will greatly damage the cardholder’s credit score and negatively impact their credit report and credit history.

Therefore, if you apply for and receive a charge card, ensure you have the means to afford the card. The same requirements are used when the cardholder carries the Amex Business Platinum Card, which is also a charge card.

What is the Credit Limit for the Amex Platinum Card?

The Platinum Card works more as a charge card, although the Pay Over Time makes it work as a traditional credit card. Also, it is a rewards credit card that allows cardholders to earn Membership Rewards points when making eligible purchases. The Amex Platinum Card and Amex Business Platinum Card are tailored towards travel purchases, where cardholders receive statement credits and exclusive benefits.

For example, cardholders will receive 5X Membership Rewards points for flights and prepaid hotels booked through Amex Travel.

Other benefits include exclusive airport lounge access, Global Entry statement credits, and hotel credit for booking prepaid hotels through Fine Hotels Resorts program. The Platinum Card and Business Platinum Card offer complimentary travel insurance for lost car rentals and lost luggage insurance every calendar year. Also, cardholders will receive an 80,000 Membership Rewards points welcome bonus within six months of card membership.

Although the card carries a high annual fee, it has no foreign transaction fees and offers cardholders the best rewards and benefits.

The Amex Platinum Card does not carry a pre-set spending limit, but it does not mean that there is no limit. Although the Platinum Card is a charge card, American Express offers higher spending limits based on categories in which the cardholder has higher spending power. Also, each limit varies between different cardholders since American Express checks various requirements, including the cardholder’s payment history.

Each cardholder has different spending powers, and they spend differently on different categories, leading to differences in spending limits. Thus, the cardholder must use the Platinum Card responsibly to avoid carrying a huge credit balance paid off every month.

Tips to Boost the Amex Platinum Credit Limit

boost Amex Platinum credit limit

For a charge card like the Amex Platinum Card, your spending habits, credit score, and stated financial resources determine your spending limit. Even though you may lack a pre-set credit limit, there are limits to the amount you spend using your Platinum Card. There are some large purchases the cardholder cannot make with their card, which they must consult before spending.

Alternatively, cardholders can request a temporary extended limit through the American Express website or mobile app. You will need to enter your current income and requesting spending limit, then wait for American Express’s approval.

Another way of boosting your credit limit is by applying for another American Express card, although you must consider your credit mix. Also, it is important to understand the average age of your credit accounts so as to be approved for another card. American Express has a limit of up to five charge card accounts open at the same time, which should be considered before an application.

When you receive a new American Express card, you can be able to transfer your credit balance from your old card to your new card account. Balance transfers may apply but transferring your credit increases your chance of increasing your credit limit.

balance transfer

Finally, increasing the spending limit on the Platinum Card greatly depends on the cardholder’s creditworthiness. The cardholder should ensure that their credit score remains high and they continue improving their credit report. American Express will always consider a cardholder with good credit utilization, good spending habits, and payment history for a spending limit increase.

The cardholder needs to keep their credit utilization under 30% of their total spending power to receive more credit. Even without a pre-set limit, cardholders must prove their responsibility for the card to increase their chances of boosting their spending limit.

What to do If Your Request to Increase the Credit Limit is Denied

request to increase credit limit

If your request is denied, you should first try calling American Express and make your request again. Remember to include why you want your spending limit increased, including reasons such as a higher annual income. If your request is denied again, try requesting an increase after 90 days of the first request. If your request is still denied, re-evaluate your credit score by checking your credit report through sites such as Credit Karma, and looking into ways of improving your credit score.

That way, your chances of increasing your limit or even applying for a new American Express card increase.


The American Express Platinum Card has one of the best rewards, offering premium rewards and exclusive perks to cardholders. Although they carry a high annual fee of $695, the benefits of the Amex Platinum Card and Amex Business Platinum Card remain unbeatable from account opening. The Platinum Card is a charge card, meaning it does not carry a pre-set credit limit, unlike traditional credit cards.

Therefore, cardholders can spend as much as they want according to their income and spending power. However, American Express will set a spending limit on the card depending on a few factors, such as the cardholder’s payment history.

A charge card requires the cardholder to pay the entire credit balance in full every month. American Express has offered cardholders of the Platinum Card a payment plan allowing them to have revolving credit. The Pay Over Time feature allows the Platinum Card to function like a regular credit card, elevating the credit balance burden. However, cardholders can increase their spending limit temporarily or permanently, depending on their financial status. The cardholder must maintain a good credit score to increase their chances of increasing their spending limit.

good credit score


What does your credit score need to be for the Amex Platinum Card?

The Amex Platinum Card is an exclusive premium card only available to those who can maintain it in the long run. Therefore, the card’s requirements are set to be high so that only a few who can achieve the requirements receive the card. Thus, the minimum credit score of applicants must be above 700 to stand a chance of receiving the card after a successful application.

The applicants must have good or excellent credit scores, which only some can achieve consistently. However, there are exceptions since American Express will look at more factors, including the applicant’s credit history and income.

What is the credit limit of the American Express Business Platinum Card?

Like the Amex Platinum Card, the Amex Business Platinum Card is also a charge card with no pre-set credit limit. The Amex Business Platinum Card is used strictly for business, and American Express will set the spending limit depending on the business’s expenses. The Business Platinum Card is available for both small and large businesses; thus, the spending limit may vary depending on the type of business.

However, the business may spend as much as they want as long as it can pay back the credit balance in full monthly. Large purchases that cannot be made using the card must require business owners to contact American Express for further assistance.

Can you carry a credit balance on the Amex Platinum Card?

credit card balance

Yes, you can carry a credit balance on the Amex Platinum Card under certain conditions that must be met. American Express offers a Pay Over Time payment plan that allows the cardholder to pay the card balance over time, at an interest. However, the payment plan only works for eligible purchases since all other purchases must be paid in full monthly.

Failure to pay the credit balance or late payment will attract a 29.99% penalty which will negatively impact one’s credit score. Also, the late payment will result in the credit issuer reporting the cardholder to the major credit bureaus, affecting their credit report.

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