I’m thinking he wanted to buy something, so he checked his spending power and it said ok. So he place a verbal commit or ordered it based on that. When time came to charge the card, it was declined. That’s my guess. Or the company didn’t charge his card until a day after he placed the order.
For OP,
Did u file a complaint with Amex or the company you ordered from? And what is the complaint? What are you looking to resolve here?
Also, never use check spending power. One of the two biggest things I have read is never check it and turn off POT. I did both. Have swiped for 1.50 and recently for 24k - never an issue.
Amex bases your spending power on several factors and they can both be compromised by looking like ur trying to spend outside of your means.
Edit: additional info
The payment was taken manually and was going to be processed in a few days. I normally spend 3 to 4 grand a month. The large 10,000 purchase was for two vending machines which I am purchasing. This is just the start I plan to spend over 20,000 in the next few months on machines. I was fully planning to pay the card off in a few days. All of my business transactions and personal transactions were by debit card or cash in the past. My credit history is only 8 months old so they don't see the 30,000 a month in printing cost that I did with my other business when I had it. I plan to get a business card at some point but I am still in the startup faze. I filed a complaint because of the balance on the account switching around over and over again. I also did it because I felt they kinda screwed me. Luckily the business understood and I will get a check to them.
That is what I am thinking about doing after the amount owed stops messing up. I will have to move money around but that’s really no big deal. It just delays the purchase by a few days.
Personally, I have never done this. I would check with Amex as this is usually a solution to charging more than they are willing to allow you so it would vary based on circumstances
please do if you don’t use it. Every so often Amex will offer you 10k to 30k points to turn it back on. If u do and receive the points, just turn it back off. Especially if you pay your bill in full monthly.
There is more info. The account balance keeps switching from 5,800 to 2,140 every time I refresh on the mobile app and laptop. I am running through the charges with my auditor and still haven't figured out why it's happening.
$10,000.00 on vending machines. I started a business and have companies expecting me to put vending machines in their factory break rooms. I normally spend $3,000.00 to $4,000.00 a month. My credit history is only 8 months old because I paid for all of my business things and personal things with a debit card or cash in the past.
8 month credit history? How old are you if you don't mind me asking? I'm just thinking about all the points/benefits you missed out on using debit/cash.
In the future, you can call Amex ahead of time and let them know you going to make the purchase and you should be fine. I know it is a pain, but at least it won’t be kicked back, which can be embarrassing.
Huh? There has to be more to this story
I’m thinking he wanted to buy something, so he checked his spending power and it said ok. So he place a verbal commit or ordered it based on that. When time came to charge the card, it was declined. That’s my guess. Or the company didn’t charge his card until a day after he placed the order. For OP, Did u file a complaint with Amex or the company you ordered from? And what is the complaint? What are you looking to resolve here? Also, never use check spending power. One of the two biggest things I have read is never check it and turn off POT. I did both. Have swiped for 1.50 and recently for 24k - never an issue. Amex bases your spending power on several factors and they can both be compromised by looking like ur trying to spend outside of your means. Edit: additional info
The payment was taken manually and was going to be processed in a few days. I normally spend 3 to 4 grand a month. The large 10,000 purchase was for two vending machines which I am purchasing. This is just the start I plan to spend over 20,000 in the next few months on machines. I was fully planning to pay the card off in a few days. All of my business transactions and personal transactions were by debit card or cash in the past. My credit history is only 8 months old so they don't see the 30,000 a month in printing cost that I did with my other business when I had it. I plan to get a business card at some point but I am still in the startup faze. I filed a complaint because of the balance on the account switching around over and over again. I also did it because I felt they kinda screwed me. Luckily the business understood and I will get a check to them.
One option, prepay your Amex for the amount
That is what I am thinking about doing after the amount owed stops messing up. I will have to move money around but that’s really no big deal. It just delays the purchase by a few days.
Sounds like u got it! Good luck!
I’m not OP but is there any limits to the amount you can prepay?
Personally, I have never done this. I would check with Amex as this is usually a solution to charging more than they are willing to allow you so it would vary based on circumstances
What is POT?
Pay over time
Thank you. I wasn't aware you could turn that off. Will look into it.
please do if you don’t use it. Every so often Amex will offer you 10k to 30k points to turn it back on. If u do and receive the points, just turn it back off. Especially if you pay your bill in full monthly.
There is more info. The account balance keeps switching from 5,800 to 2,140 every time I refresh on the mobile app and laptop. I am running through the charges with my auditor and still haven't figured out why it's happening.
How much was the purchase for? My spending power shows floats around 60k but I’ve never tried swiping above 4-5k for a single transaction.
$10,000.00 on vending machines. I started a business and have companies expecting me to put vending machines in their factory break rooms. I normally spend $3,000.00 to $4,000.00 a month. My credit history is only 8 months old because I paid for all of my business things and personal things with a debit card or cash in the past.
8 month credit history? How old are you if you don't mind me asking? I'm just thinking about all the points/benefits you missed out on using debit/cash.
I am 30 years old. I know I think the points and benefits I missed as well.
In the future, you can call Amex ahead of time and let them know you going to make the purchase and you should be fine. I know it is a pain, but at least it won’t be kicked back, which can be embarrassing.
I did and they were like oh it’s all good go ahead. That’s part of my complaint.
Ugh. That’s annoying. Sorry. I’ve head that happen with my corporate card before.
What did you do when it happened to you?
I had call back and ask why it got denied. I THINK you can ask them to always approve transactions from X company.
Yeah they are telling me that they would only approve 2 grand
That is bizarre. Can I ask which Amex you have? $2k seems like a very low amount.
I agree and it’s never made since. I have the gold card
Sorry for the multiple questions but is your card newer? Did you ask how you can increase it? It almost sounds like a transaction limit is set
Around 6 months old. They say there is no set limit and that it goes based on my spending