Amex Conversions and Product Changes

[andyaycw]

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@stan_the_man wrote:

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@andyaycw wrote:

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@TM82 wrote:

I've inquired many times over the years about PCing my Clear and each time I get an answer that it cannot be product changed.  So I just shifted the credit line from it to my Amex Blue Cash. 

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I've had my Amex since 2007. It was originally a Blue Sky and then eventually I decided to PC to a Clear. I guess somewhere along the way they changed their internal policies not allowing a Clear to PC back to anything Blue?

I'm still waiting for a response from the Amex secure email, but if I can't PC, then it would seem my only option would be to do a new app for the BCE, shift the credit line, and then close the Clear?

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Why would you close the Clear card? From my observations, Amex won't close credit accounts that inactive when you have another card that is active.

There seems to be no benefit to closing the account, but you would see some very minor harm -- potentially reduced AAoA when it stops reporting in 10 years, and a slight reduction in total available revolving credit (since I don't think you can transfer 100% of your credit limi to the new card).

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I just don't want to deal with a card that I won't be using. Plus I already have more than enough available credit and I don't want to raise a red flag in Amex's system with another new app and more credit.

Strange as it may sound, I'm just not interested in getting any more credit right now. I've got over $75k over 7 cards, 1 of which is the Clear which has a $20k limit. I just wanted to keep it as clean as possible - same card, no additional credit, no new accounts having to report on my credit, no sockdrawered cards to deal with, etc.  

[andyaycw]

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@steve23111 wrote:

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@stan_the_man wrote:

Why would you close the Clear card? From my observations, Amex won't close credit accounts that inactive when you have another card that is active.

There seems to be no benefit to closing the account, but you would see some very minor harm -- potentially reduced AAoA when it stops reporting in 10 years, and a slight reduction in total available revolving credit (since I don't think you can transfer 100% of your credit limi to the new card).

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I agree. I see little sense in getting rid of the Clear. Since there is no AF, seems a decent card to keep around.

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The rewards for the Clear and BCE are essentially the same. 1% on all purchases except the BCE has 2% on gas and 3% at supermarkets.  I have the Penfed gas card so I wouldn't be using it for gas. I personally would see no sense in carrying two cards with the same company that essentially offer the same rewards. Am I missing something?

[johnnie198x]

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@stan_the_man wrote:

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@andyaycw wrote:

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@TM82 wrote:

I've inquired many times over the years about PCing my Clear and each time I get an answer that it cannot be product changed.  So I just shifted the credit line from it to my Amex Blue Cash. 

---

I've had my Amex since 2007. It was originally a Blue Sky and then eventually I decided to PC to a Clear. I guess somewhere along the way they changed their internal policies not allowing a Clear to PC back to anything Blue?

I'm still waiting for a response from the Amex secure email, but if I can't PC, then it would seem my only option would be to do a new app for the BCE, shift the credit line, and then close the Clear?

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Why would you close the Clear card? From my observations, Amex won't close credit accounts that inactive when you have another card that is active.

There seems to be no benefit to closing the account, but you would see some very minor harm -- potentially reduced AAoA when it stops reporting in 10 years, and a slight reduction in total available revolving credit (since I don't think you can transfer 100% of your credit limi to the new card).

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Amex will backdate the new account, so even if the card disappear, the OP still has an account that is the same as the old one. Am I correct?

[stan_the_man]

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@johnnie198x wrote:

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@stan_the_man wrote:

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@andyaycw wrote:

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@TM82 wrote:

I've inquired many times over the years about PCing my Clear and each time I get an answer that it cannot be product changed.  So I just shifted the credit line from it to my Amex Blue Cash. 

---

I've had my Amex since 2007. It was originally a Blue Sky and then eventually I decided to PC to a Clear. I guess somewhere along the way they changed their internal policies not allowing a Clear to PC back to anything Blue?

I'm still waiting for a response from the Amex secure email, but if I can't PC, then it would seem my only option would be to do a new app for the BCE, shift the credit line, and then close the Clear?

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Why would you close the Clear card? From my observations, Amex won't close credit accounts that inactive when you have another card that is active.

There seems to be no benefit to closing the account, but you would see some very minor harm -- potentially reduced AAoA when it stops reporting in 10 years, and a slight reduction in total available revolving credit (since I don't think you can transfer 100% of your credit limi to the new card).

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Amex will backdate the new account, so even if the card disappear, the OP still has an account that is the same as the old one. Am I correct?

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True, but the only way OP can possibly gain from closing the account is if his AAoA will be greater than 14 years, once the closed Clear card drops off 10 years from now. If he keeps the card open, his AAoA will be higher later on, and he will have slightly more available credit to lower his overall utilization.

[andyaycw]

Well, it is confirmed. The Clear is not eligible to PC to any other product. I wonder why that is? Amex is telling me if I want anything else I have to submit a fresh app for it. Bummer.

[tntexans72]

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@andyaycw wrote:
Well, it is confirmed. The Clear is not eligible to PC to any other product. I wonder why that is? Amex is telling me if I want anything else I have to submit a fresh app for it. Bummer.

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Sorry to hear...the Clear card for some reason can never be PC into any other products they have. If you are looking to obtain another Amex, the great thing is...you will be able to get the signup bonus when you app. To PC from one product to another, you won't get the bonus unless Amex sent you an invitation code.

In any event, I wouldn't close the Clear card until you open up another account with Amex. Than shift the CL over to the new card than close the Clear card. Just in case Amex doesn't give you $20K of CL on the new card to start off....just my .02 but GL.

[clocktick]

Wow, that is a bummer.  I want to close my Clear too but only after transferring part of the CL.  Are you interested at all in apping for the BCE?

[andyaycw]

Really the only thing that interests me about the BCE is the 3% cash back for groceries, and I'm not sure that alone justifies applying for a whole new card. I may just stick with my Clear.

[stan_the_man]

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@andyaycw wrote:

Really the only thing that interests me about the BCE is the 3% cash back for groceries, and I'm not sure that alone justifies applying for a whole new card. I may just stick with my Clear.

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If you decide to go for BCE, I'd wait until January. Then the new card with be backdated to 1/2007, instead of 12/2007 -- the 11 additional months of age may come in handy.

[steve23111]

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@andyaycw wrote:

Really the only thing that interests me about the BCE is the 3% cash back for groceries, and I'm not sure that alone justifies applying for a whole new card. I may just stick with my Clear.

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For me it was a no-brainer -- I'll explain in a second -- but I did download all of my Clear transactions year-to-date out of the American Express web site, assigned the appropriate category, and did the cash back comparison between Clear, BCE, and BCP. Clear works out to around $175/year in cash back, while BCE was around $400 and BCP was closer to $500 even after the $75 annual fee. It's just my spending habits. I eat lunch just about every day at 7-Eleven next door (let's not talk about what the hot dogs are doing to my health!) and since they sell gas the transaction counts as a gas station purchase, even if I am only buying food. My PayPal MC treats it the same way.

My PayPal MC does have a better rate on restaurant purchases than Clear, BCE, or BCP, however, I can easily get the 6% rate for a lot of that by purchasing gift cards from Kroger. I usually don't like gift cards -- at least from a gifting perspective -- but in this case I can pick up a gift card for Subway, McDonald's, TGI Friday's, etc. from Kroger when I do my regular shopping, earn the 6% rate on that since it's coming from a grocery store, and earn fuel discounts from Kroger while I'm at it ($0.10 per gallon for every $25 or $50 in gift card purchases, depending on the time of year).

It's a good workaround since almost every major grocery store has third-party gift cards for sale and those would be treated like any other AMEX grocery store purchase. Hooray for free money!