Amex Credit Reallocation

[Jayb5635]

Hey guys, how exactly does credit reallocation with Amex work ???  Say if I want to close my BCE and try to move the 3k cl to the Everyday Preferred.  I was just on the phone with a rep and he said he could only move 2500 and 500 would have to stay on the BCE.  Is this the case even if an account is being closed ???

[Luscher]

When i combined limits on my chase card is was the same. my account i closed ended up reported closed with a 500 limit and the rest went to my other card.

[B335is]

Even if the CSR takes the request the acct has to be open 13 statements. They can only request increments of $500 and must leave the "from" acct with $500 limit. Its not immediate either. I have been trying to get a limit reallocated for a month and am about ready to throw in the towel. Its a whole different ball game than Chase.

[Jayb5635]

Interesting. I am considering closing the BCE because I am not using it since the Everyday Preferred essentially replaces it for me

[longtimelurker]

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@Jayb5635 wrote:
Interesting. I am considering closing the BCE because I am not using it since the Everyday Preferred essentially replaces it for me

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Have you had your BCE 13 months?  If so, or nearly, go through the process the rep gave you and at least you get $2500 of the limit.  Closing it will lose it all.  But I agree the card is useless for you now.

[Jayb5635]

Yes the BCE was opened in March of last year. I suppose it makes sense to take 2500 and move it onto the Everyday Preferred

[Jayb5635]

Today is the 60th day of the Everyday Preferred being opened

[longtimelurker]

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@Jayb5635 wrote:
Today is the 60th day of the Everyday Preferred being opened

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Then that should be fine.  The "To" card requirement seems to be YMMV, I transferred a CL to a brand new card, as did many others, but others have been told "60 days".

You can also close the BCE eventually (a $500 limit isn't much use!) if you want to, or see if you can PC it to something more worthwhile.

[Jayb5635]

There doesn't seem to be many options as far as PC. Also, I'd rather nab the sign up bonus when the time comes. I have my eye on the starwood card both personal and business. I am gonna wait until August because the last couple of years the sign up bonus climbs to 30k per card, and that's the only reason I am thinking to get them. So yeah long winded answer but I'm prob closing the BCE lol

[TiggerDat]

I would just leave it open until you are ready to the change, about a month before.  Or in the application process then close it if denied because of the number of accounts with them.  Remember you can always recon and make a deal.  Be careful about doing too many applications or changes with Amex, they might think you are merely just trying to score signup points.