02-19-2013 09:06 AM
I want to open one more card and I am leaning towards Amex True Earnings Costco because of backdating to 1991, but I am a little concerned because of my credit line on my BCP. I have the PRG card and a BCP card, the limit on the BCP was just increased from 10K to 25K two weeks ago (gotta love 61 day 3xCLI) at what point would I risk a FR or requested tax documents? What are your largest combined personal credit lines with amex that didn't require documentation or an FR? What kind of limit would I be looking at on the new card? I opened the PRG and BCP in late November and have put 10K through them since. My EX with Amex is around a 730.
02-19-2013 09:26 AM - edited 02-19-2013 09:27 AM
As I have heard, asking for a CLI that would put you over $34,500, might result in Amex asking for tax returns. Asking for a new card that could put you over $34,500 will not necessarily result in a request for tax returns. None of this will lead to a FR. You shouldn't have a worry asking for another card.
02-20-2013 06:20 AM
They may ask for tax documents once you get over 25k, but there is no rule for what triggers a FR. If you were honest on all your applications about income, etc. there is nothing to worry about (as long as you are OK handing over whatever documentation the ask for — usually a tax transcript).
02-20-2013 06:35 AM
One thing also to consider is how much the Amex Costco card is truly going to save you. You already are carrying a BCP card which gets you discounts on gas and groceries. The Costco card does 2% in restaurants (nice) but when i did the numbers on getting this card versus the benefits of what I was already carrying, I could only muster about $75 in estimated benefits a year ($5500 a year spent in Costco, $1000 of that as gas).
One thing about getting my family's financial life completely in Quicken is that I've been able to ask questions and prioritize the reward cards that truly will save me money regarding my spending patterns. So far, the worst card for savings I do plan to get is the BCP, which is $285 in my pocket for groceries.
02-20-2013 11:05 AM
I have the CostCo Amex and got a $10K CL increase to $30K in Feb of 2012. I applied for the BCP last August and they gave me a $30K CL on it as well so I have a $60K total CL with them between the 2 cards. I have been an Amex card holder since 1999 (had the Gold Rewards before the CostCo).
02-20-2013 11:56 AM
I applied and was approved but was very disappointed with what they are calling a temporary credit line of $2,000.00. I guess I was expecting at least $10,000, I was surprised it was so low. Could it have to do with the fact that they just gave me a $15,000.00 increase a few weeks ago? Also, has anyone had luck with a credit line recon with AMEX?
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