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Amex App Strategy

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Tons_of_Debt
Established Contributor

Amex App Strategy

Currently have Amex Blue Sky (no fee) want to app to Delta Reserve ($450/yr). 

 

PIF every month. 

CL increased from $1,000 to $3,000 automatically last month (1 yr anniv.) without me requesting.

Current balance $1,200

 

Should I PIF before Apping? Pay partial? Strategy? 

08/01/2008 - 472 EQ; 523 TU; 454 EX
03/01/2009 - 574 EQ
08/08/2009 - 648 EQ
01/27/2010 - 671 EQ
07/04/2010 - 713 EQ
01/05/2011 - 730 EQ
05/14/16 - 762 EX
Message 1 of 9
8 REPLIES 8
pizzadude
Credit Mentor

Re: Amex PC Strategy


@Tons_of_Debt wrote:

Currently have Amex Blue Sky (no fee) want to move to Delta Reserve ($450/yr). 

 

PIF every month. 

CL increased from $1,000 to $3,000 automatically last month (1 yr anniv.) without me requesting.

Current balance $1,200

 

Should I PIF before requesting PC? Pay partial? Strategy? 


I don't think that your balance on the card will make a difference.   Assuming that AMEX allows a PC to a Delta card I would just give them a call and ask if your card is eligible.....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 9
Crashem
Valued Contributor

Re: Amex PC Strategy

I think you will have problems PC from Blue to Delta.  Worth a call.  But my guess is no, because of contractual reasons between Delta and Amex.

               LIMITS IN CARD DESCRIPTIONS
Message 3 of 9
Tons_of_Debt
Established Contributor

Re: Amex PC Strategy

Not eligible for PC. OP updated for post. Also considering Amex Platinum. Seems to have better benefits across the board though I fly Delta 90% of the time... 

08/01/2008 - 472 EQ; 523 TU; 454 EX
03/01/2009 - 574 EQ
08/08/2009 - 648 EQ
01/27/2010 - 671 EQ
07/04/2010 - 713 EQ
01/05/2011 - 730 EQ
05/14/16 - 762 EX
Message 4 of 9
Revelate
Moderator Emeritus

Re: Amex PC Strategy


@Tons_of_Debt wrote:

Not eligible for PC. OP updated for post. Also considering Amex Platinum. Seems to have better benefits across the board though I fly Delta 90% of the time... 


Since Amex backdates, there's not quite the same reason to PC (other than some AF conservation potentially) as there is with other lenders when you want a new card as to not incur the new tradeline penalties.  Maybe worth applying directly as it only costs an inquiry (and only if you get approved at that).  I don't know current Delta underwriting standsrds but certainly of the card of yesteryear, I wouldn't expect you'd have a problem at all qualifying and you appear have a solid score anyway currently.

 




        
Message 5 of 9
Creditaddict
Legendary Contributor

Re: Amex App Strategy

This is Amex... You need to be requestiong all your FREE CLI.

61 Days, 6 months later... You could be at $9k right now...

 

Not trying to be debbie downer but I hear from many "I don't need more credit, so I don't ask or why would I ask, I don't need it"

Ill save the list of all those reasons and just take you and your thread for the example.

For whatever the reason may have been you didn't request any increases and now 1 year later you have a $3k Credit Line and you want a Delta Reserve... I atleast believe that if I was the lender and you had a $9k Credit line currently and always PIF and had good usage, I would feel better giving you another credit line to handle.

Now the reverse to that is, They only have a loss possibility of $3k not $9k, so if you get another card and even if they gave you $5k, you would just be at what you could have been at with 1 card.

 

The other thought is some creditors "Match" Highest Current CL, some will just go out and give you whatever they want regardless if you had $500 CL before, if they feel they will give you $25k. and some won't even open if you only have small cards currently.

 

So my rule is if you can get the CL increases for free (no HP) you best be taking them!

 

Now final thoughts, I would put it in for payment (Amex has the crazy computer that works your credit and other Amex accounts to decide on future accounts, etc.) it probably will pick up the payment vs. anyone else wouldn't see it until a credit update.

If you fly mostly Delta mostly, that would probably be way better then Platinum Charge because of the bonus stuff on Delta.

 

Either way congrats on those scores and the gains you made... Might need you to give me some "You stupid Fico person!" Smiley Happy responses on my posts.

Message 6 of 9
drkaje
Senior Contributor

Re: Amex App Strategy

Normally I'd say pay it down first but Amex uses an internal risk score so that may not be much of a factor.

 

Big CLs are fun but ultimately, I still only feel having the credit you need is the best long term strategy. For every post read from someone saying they have enough credit there are at least 10 from someone rebuilding who either had more than they could effectively manage or things went south and having a bunch of available credit made it easy for them to deny the obvious longer.

 

There's a balance point between too much and not enough credit. In my gut, it's set by one's own actual, personal cash-flow. Smiley Happy


Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
Goal Score: 776 FICO


Take the FICO Fitness Challenge
Message 7 of 9
OhioCPA
Frequent Contributor

Re: Amex App Strategy


@Creditaddict wrote:

For whatever the reason may have been you didn't request any increases and now 1 year later you have a $3k Credit Line and you want a Delta Reserve... I atleast believe that if I was the lender and you had a $9k Credit line currently and always PIF and had good usage, I would feel better giving you another credit line to handle.

Now the reverse to that is, They only have a loss possibility of $3k not $9k, so if you get another card and even if they gave you $5k, you would just be at what you could have been at with 1 card.

 

 


I am not sure this is true. My Amex BCE was at $3,000 in May when I applied for the Hilton Honors card. I received a CL of $10,000 on the Hilton card which was much higher than any of my other cards that were on my credit report at the time. I do have another card at $10,000 but it wasn't reporting yet. I did apply for a CLI on the BCE after I received the Hilton card and was increased to $9,000 on the BCE. So from $3,000 to $19,000 in a few weeks.

 

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Message 8 of 9
Creditaddict
Legendary Contributor

Re: Amex App Strategy


@OhioCPA wrote:

@Creditaddict wrote:

For whatever the reason may have been you didn't request any increases and now 1 year later you have a $3k Credit Line and you want a Delta Reserve... I atleast believe that if I was the lender and you had a $9k Credit line currently and always PIF and had good usage, I would feel better giving you another credit line to handle.

Now the reverse to that is, They only have a loss possibility of $3k not $9k, so if you get another card and even if they gave you $5k, you would just be at what you could have been at with 1 card.

 

 


I am not sure this is true. My Amex BCE was at $3,000 in May when I applied for the Hilton Honors card. I received a CL of $10,000 on the Hilton card which was much higher than any of my other cards that were on my credit report at the time. I do have another card at $10,000 but it wasn't reporting yet. I did apply for a CLI on the BCE after I received the Hilton card and was increased to $9,000 on the BCE. So from $3,000 to $19,000 in a few weeks.

 


YAY, I was hoping someone would post in either direction, and your post is a great example of Amex "Computer" that does amazing things sometimes for current cardholders and such.... I almost think it does happen this way above with amex vs. my other thought that you should have higher current CL then get another and they would give another high limit...  Another reason I love some Amex!

Message 9 of 9
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