AMEX Transfer CL Question

Anonymous · ‎03-29-2017

Hello.. I have 3 cards from AMEX -- an old Optima card with a 19000 limit, a Blue card with an 8300, and a small business green card with no pre-set limit.. I've been a customer in good standing since 1999. My FICOs average around 760. All 3 cards have been open in excess of 10 years. The Optima card has a balance of around $15K that is being paid down.

The APR on my Optima card is quite low -- 5.99%... The APR on the Blue card is 14.99... The Blue card is just about to have a zero balance, and my plan was to transfer a good chunk of its CL to the Optima card due to the Optima card having a much better APR, and to lower the utilization of it. Would it be best to just transfer enough of that CL to make the CL on the Optima $25k? Ive read that Amex may balk at the CL on the individual card higher than $25k.

Any advice?

Thanks

krielly · ‎03-29-2017

My AMEX Blue has a CL of 34K. I can't imagine this being an issue.

You can't have your cake and eat it too. But you can dip your finger in the bowl and lick the icing!

AverageJoesCredit · ‎03-29-2017

Why would Amex balk at a card having over 25k on 1 card? Lots of people have one, ballers and nonballers alike

. I think you are good , awesome having Amex cards for over 10 years in good standing. Enjoy that Optima

K-in-Boston · ‎03-29-2017

AmEx may ask for POI on high CLIs ($25k and $34.5k have both been examples, but there are some who have gone beyond that without being asked), but you're not actually asking for an increased line, just moving credit they have already extended you. I think you should be fine and you can do it all online now.

Anonymous · ‎03-29-2017

Also should note -- both of those cards were opened at the same time in January 2003.. The SB green card was opened in 1999.. On both the Optima and the Blue -- I had never requested a CLI on either of them.. The Optima started at $2K and the Blue started at $5K.. The current limits have all been automatic CLIs from them.

In regards to the low APR on the Optima -- its actually 6.49% now after recent bumps in the rates -- even AMEX reps usually make a comment on how low it is and tell me to hold on to it.. Its variable, prime + 2.49% and is by far the best APR card I have.

K-in-Boston · ‎03-29-2017

If it were me, I would ask for a CLI to $24,900 (3x current limit) on the Blue card, then move a ton of the Blue's CL over to the Optima. That can all be done online, and AmEx will counter-offer if they think your CL should be lower than $24,900. I would absolutely hold onto that Optima forever - what a great APR!

SecretAzure · ‎03-29-2017

@K-in-Boston wrote:
If it were me, I would ask for a CLI to $24,900 (3x current limit) on the Blue card, then move a ton of the Blue's CL over to the Optima. That can all be done online, and AmEx will counter-offer if they think your CL should be lower than $24,900. I would absolutely hold onto that Optima forever - what a great APR!

I like this plan! See how much more they'll trust you with and then move funds over from another card.

@I'm here with my Ring card @ 8.5% APR thinking it's good and then I see a 6% card...so sad...I would love that. At least Amex extended me 6.99% for 12 months.

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Anonymous · ‎03-29-2017

Thanks.. I'm not going to request a CLI.. I'd like to tread carefully with them and not do anything that may trigger a FR.. My FICOs were all around 660 about a year ago strictly due to utilization, and I've made a huge push towards getting that down.. In fact, it was just two months ago that they removed the pre-set spend limit of $1500 on the green card that had been there for about ten years after the FICOs crossed 740.

SecretAzure · ‎03-29-2017

@Anonymous wrote:
Thanks.. I'm not going to request a CLI.. I'd like to tread carefully with them and not do anything that may trigger a FR.. My FICOs were all around 660 about a year ago strictly due to utilization, and I've made a huge push towards getting that down.. In fact, it was just two months ago that they removed the pre-set spend limit of $1500 on the green card that had been there for about ten years after the FICOs crossed 740.

For me, a FR was only triggered when I requested a limit above $25K....when it wasn't as easy as I thought it would be I simply requested exactly 25K (another CLI manually on their site) and it was instantly approved...from 18.5 -> 25K on my BCE. I'm sure you'll be able to request less if they request that stuff...but I guess you're right. It's better to be safe than sorry. Good on you for being cautious.

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC

Must garden until 2/1/2022 to hit my goal AAOA.

K-in-Boston · ‎03-29-2017

Just to clarify again, there is a huge difference between AmEx asking for POI when you request a CLI and an actual Financial Review. Asking for tax transcripts is just them certifying that your income is real, and it is optional - you can just ask for a lower credit limit increase. A financial review is not optional and AmEx freezes all of your accounts until it is completed. I have not read of anyone triggering a FR due to asking for a CLI. Be late or miss some payments, suddenly hit 90% overall utilization, etc... yes, but CLI no.