So... I was poking around my AmEx accounts; and noticed the 'Transfer Available Credit' option. Naturally; this got me to thinking.
I have 2 personal AmEx at the moment:
- AmEx BlueCash (original) ($6k CL)
- Mercedes AmEx ($2k CL)
I was planning on kicking up the Mercedes AmEx to $6k, at the end of Oct (3x CLI rule); when my 6 months was up from my last CLI. This way; I'd have 2 cards @ $6k each; when I apped for a 3rd AmEx (BCE) in Jan (for AAoA backdating).
The theory; is that if I have 2 cards at $6k; perhaps I'd possibly get a higher starting limit on the 3rd card (both previous cards issued at $2k CL).
After finding this though; I was thinking about kicking up the BC (3x Rule) to $18k; then transferring $8k to the Mercedes AmEx. This would result in the BC & the Mercedes AmEx both being @ $10k. So, both cards would have a much higher limit, when I App in Jan (see above theory).
Also, It'd be nice to possibly transfer some of the new CL over to the new card in Jan, as I have a substantial dental bill coming up in Jan (over $6k); which would be nice to put on my BC (to apply towards the $6500 threshold, for the higher tier); then possibly balance transfer over to the new BCE in Jan, for the 6 mo w/o interest.
Then, the thought of a FR kicked in. This really wouldn't be much of an issue; more of an inconvenience. But, if I can avoid going through the hassle; it'd be preferred.
Has anyone had any experience with playing with the AmEx Transfer Available Credit option; while doing the 3x CLI thing? If so, what was your experience with it?
I remember a thread on it, i recall someone being able to transfer all but 500 from one card to another. You see 3x credit increases all the time. Gf had instant 3x after 6 months. Somepeople get 3x after 60 days
I would check first to see if there are any restrictions on transferring credit limits, for example, can you transfer immediately after a CLI request or do you have to wait 6 months similar to a CLI request. I'm just speculating here, no specific info, but make sure there aren't any such restrictions before you go forward. Also, I thought I read a thread hear that said you couldn't transfer between accounts unless they were both open for at least 13 months. May want to check into that before you move forward.