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Amex Reallocation?

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B335is
Moderator Emeritus

Amex Reallocation?

AF is coming up my Delta Gold card and was told by the rep he can submit a reallocation request but needed my income? Also said they would mail me a letter in 7-10 days with their decision. My only experience with this has been with Chase (which was an immediate approval). Is it typical of Amex to take 7-10 days for reallocation?
Message 1 of 10
9 REPLIES 9
youngandcreditwrthy
Senior Contributor

Re: Amex Reallocation?

i have been trying to xfer over my Delta limit (10k) to my Surpass limit(1k) and keep getting the 7-10 message. It is always a denial. They won't let you reallocated a credit line from an account that is less than 12 months old (they specifically said it's because of "heavy losses" Amex incurs due to people getting bonuses then downgrading to no AF accounts. The receiving account has to be at least 30 days old.

 

So, you will either have to CLOSE the account with no CL transfer, or WAIT until it's a year old to transfer the CL. Either way, they want you to pay that Annual Fee.

 

So despite convenitional wisdom here of "just downgrade to a no af card" Amex doesn't allow that within first 12 months. Luckily, every bonus I've gottn from Amex is worth 5-10 times one AF LOL

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 2 of 10
youngandcreditwrthy
Senior Contributor

Re: Amex Reallocation?

oh and they do a SP when you ask for a reallocation of any credit line... So they do check your credit. it's not one of those easy little transactions as previously thought.

Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| BOA Better Bal $17.5k |Wmt Discover $12.5k | BR Visa $17.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Message 3 of 10
Kenny
Moderator Emeritus

Re: Amex Reallocation?


@youngandcreditwrthy wrote:

i have been trying to xfer over my Delta limit (10k) to my Surpass limit(1k) and keep getting the 7-10 message. It is always a denial. They won't let you reallocated a credit line from an account that is less than 12 months old (they specifically said it's because of "heavy losses" Amex incurs due to people getting bonuses then downgrading to no AF accounts. The receiving account has to be at least 30 days old.

 

So, you will either have to CLOSE the account with no CL transfer, or WAIT until it's a year old to transfer the CL. Either way, they want you to pay that Annual Fee.

 

So despite convenitional wisdom here of "just downgrade to a no af card" Amex doesn't allow that within first 12 months. Luckily, every bonus I've gottn from Amex is worth 5-10 times one AF LOL


I can vouch for this, as well. At least they refund a prorated amount of the AF, though.

Message 4 of 10
09Lexie
Moderator Emerita

Re: Amex Reallocation?


@youngandcreditwrthy wrote:

i have been trying to xfer over my Delta limit (10k) to my Surpass limit(1k) and keep getting the 7-10 message. It is always a denial. They won't let you reallocated a credit line from an account that is less than 12 months old (they specifically said it's because of "heavy losses" Amex incurs due to people getting bonuses then downgrading to no AF accounts. The receiving account has to be at least 30 days old.

 

So, you will either have to CLOSE the account with no CL transfer, or WAIT until it's a year old to transfer the CL. Either way, they want you to pay that Annual Fee.

 

So despite convenitional wisdom here of "just downgrade to a no af card" Amex doesn't allow that within first 12 months. Luckily, every bonus I've gottn from Amex is worth 5-10 times one AF LOL


It was my understanding that the 'to' account had to be opened at least 60 days. Has that policy changed?

Message 5 of 10
B335is
Moderator Emeritus

Re: Amex Reallocation?

Ok so its probably denied, the AF wont be billed until April 12. He did say if I cancelled within 30 days they would refund the AF but either way I'll just close the acct. And yes I asked to reallocate to my Surpass $2k crappy limit Smiley Happy
Message 6 of 10
B335is
Moderator Emeritus

Re: Amex Reallocation?

***UPDATE***

 

Today I get 2 letters from Amex:  

 

1)  Your Amex HHonors Surpass account is not eligible for transfer of available credit to your other account because of short time account has been open.

2)  You Amex BCE account is not eligible for transfer of available credit to your other account because of short time account has been open.

 

It appears they processed my request wrong.  I asked to transfer my Delta Gold limit TO Surpass and BCE!

Message 7 of 10
longtimelurker
Epic Contributor

Re: Amex Reallocation?


@09Lexie wrote:

It was my understanding that the 'to' account had to be opened at least 60 days. Has that policy changed?


There was or is such a policy, but it seems to be easily overridden, unlike the rule for the From account.   Several of us were able to transfer CL to our Amex Blue Cash on the day it was activated by calling.   They did ask income.

Message 8 of 10
B335is
Moderator Emeritus

Re: Amex Reallocation?


@longtimelurker wrote:

@09Lexie wrote:

It was my understanding that the 'to' account had to be opened at least 60 days. Has that policy changed?


There was or is such a policy, but it seems to be easily overridden, unlike the rule for the From account.   Several of us were able to transfer CL to our Amex Blue Cash on the day it was activated by calling.   They did ask income.


Yeah the Delta Gold is 1 year old today (4/14/14) so I think I prematurely requested it.  I guess I was more surprised to have my request reversed since I wanted to close the Amex Gold and reallocate that limit to Surpass and BCE.  

 

ETA:  Surpass is about 100 days old, BCE about 9 months old.

Message 9 of 10
scenery_guy
Established Contributor

Re: Amex Reallocation?


@B335is wrote:

@longtimelurker wrote:

@09Lexie wrote:

It was my understanding that the 'to' account had to be opened at least 60 days. Has that policy changed?


There was or is such a policy, but it seems to be easily overridden, unlike the rule for the From account.   Several of us were able to transfer CL to our Amex Blue Cash on the day it was activated by calling.   They did ask income.


Yeah the Delta Gold is 1 year old today (4/14/14) so I think I prematurely requested it.  I guess I was more surprised to have my request reversed since I wanted to close the Amex Gold and reallocate that limit to Surpass and BCE.  

 

ETA:  Surpass is about 100 days old, BCE about 9 months old.


Wait until your 13th statement post on the "from" card and try again. I did it online and it was instant. 

Message 10 of 10
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