BCE/BCP Questions - Update: BCP Approved

[Anonymous]

Hello children...first thread so be gentle.

Here is my situation, I'm on my 6th month with my BCE, SL 10k and CLI to 20k on 61st day.  Also on my 5th month with Simply Cash @ 20k SL, totaling 40k with Amex.  I have been waiting for Amex to offer some kind of upgrade bonus for BCE to BCP but I doubt it's forthcoming, since Amex is now offering waived first year AF plus $150 sign up bonus for the BCP, I have decided to app for the BCP instead of upgrading the BCE but I want to make sure I cover all angles before pulling the trigger.  My current EX Fico is 778, no baddies, AAoA 3y 3m, 5 inquires and 7 new accounts all within 6 months.  Here are my questions.

1. Are there anything in my profile that disqualifies me from applying for another Amex revolver?

2. Does receiving sign up bonus for the BCE just few months ago disqualifies me from the sign up bonus of the BCP?

3. What are the odds of Amex using their monthly SP for this new app? Last SP on 8/29

4. Am I correct that I would need to keep the BCE at least until the 1 year mark before I can move its CL to the new BCP?

5. Assuming business credit count towards my internal limit with Amex, 40k is probably close to that limit, do you think this will affect my new app in any way?

Sorry for all the questions, any input would be appreciated.

Mod note:  I've updated your thread subject to reflect your approval; feel free to edit if you would like.  --UB

[Gmood1]

1. Nope..you can have five revolvers.

2. Nope

3. 100% chance since you are in the system

4. Yup

5. Lower SL maybe

You look like an Amex prime candidate! Hit that button and hold on! 😀

My last Amex App a few months ago was a SP approval. I want another Amex! 

[Anonymous]

You're only six months in with Amex.

Why not just upgrade?

my card is recently a year old and I've gotten a couple offers to upgrade my account.

[Anonymous]

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@Gmood1 wrote:

1. Nope..you can have five revolvers.

2. Nope

3. 100% chance since you are in the system

4. Yup

5. Lower SL maybe

You look like an Amex prime candidate! Hit that button and hold on! 😀

My last Amex App a few months ago was a SP approval. I want another Amex! 

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Pretty much what I wanted to hear, the SP part especially.

[Anonymous]

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@Anonymous wrote:

You're only six months in with Amex.

Why not just upgrade?

my card is recently a year old and I've gotten a couple offers to upgrade my account.

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Because I won't get the sign up bonus of $150 and first year AF waived, did they offer you bonus to upgrade?

[MrDisco99]

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@Anonymous wrote:

You're only six months in with Amex.

Why not just upgrade?

my card is recently a year old and I've gotten a couple offers to upgrade my account.

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Because he's 6 months in and upgrade is not possible until after a year.

OP, there is a BCP offer out there for $200 bonus with waived annual fee.  Amex has a one bonus per lifetime policy on their cards, so I'd recommend you find that before you apply.  I can usually get it if I browse to the site with a different browser in private or "incognito" mode.

Good luck!

[Anonymous]

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@MrDisco99 wrote:

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@Anonymous wrote:

You're only six months in with Amex.

Why not just upgrade?

my card is recently a year old and I've gotten a couple offers to upgrade my account.

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Because he's 6 months in and upgrade is not possible until after a year.

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Didn't even know about that rule, makes my decision that much easier.  

So I pulled the trigger, approved for 5k only, probably right up to my internal limit, I'm going to try 3x CLI on the BCP when my 180 day expires,  then close the BCE and move all CL to BCP when I hit the 1 yr mark on BCE.  Thanks for the reassurance Gmood1.

[MrDisco99]

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@Anonymous wrote:

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@MrDisco99 wrote:

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@Anonymous wrote:

You're only six months in with Amex.

Why not just upgrade?

my card is recently a year old and I've gotten a couple offers to upgrade my account.

---

Because he's 6 months in and upgrade is not possible until after a year.

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Didn't even know about that rule, makes my decision that much easier.  

So I pulled the trigger, approved for 5k only, probably right up to my internal limit, I'm going to try 3x CLI on the BCP when my 180 day expires,  then close the BCE and move all CL to BCP when I hit the 1 yr mark on BCE.  Thanks for the reassurance Gmood1.

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Nice... Did you get the $200 bonus? I fear my edit was too late.

[Anonymous]

Too late Disco lol, now I have to hand in my spade at the gardening club.

[Anonymous]

BTW I did unlock my EX just in case if they need it and because I didn't want to get yelled at by Irish, so far no HP on my EX but I'm going to give it till tomorrow to be sure.