Balance transfer FROM Amex Charge

[improvingmycredit]

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@Creditaddict wrote:

Couple Things:

1. You do not need to "max out" an Amex Charge because it does not calculate in your utilization on credit report except sometimes with older TU version but I have never seen issues.

2. As you make on time payments and use the card your "internal" limit will conitnue to go up

3. You can do a BT from Amex Charge but keep in mind 2 things, unless you can BT a check to yourself or directly into checking or if they sent you checks and you write one to Amex, you better do it weeks before because it's not very common these days for BT to take longer then 7-10 days but I have seen them take almost a month with smaller banks and that might put you late on Amex and the biggest factor is the BT FEE.... Navy is the only one that I know of that doesn't charge BT fee other then recently I saw a 0% for so many months on Capital one with 3% or 6.9% for 0% BT FEE but that was on an open business card... I have not seen those offers for new applications with anyone

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+1

I'm with CA on this one.  If you just pay monthly on time, you internal CL will go up.  Utility doesn't report for Charge Cards with Amex unless you are using an older model.  Good Advice IMHO. 

[stan_the_man]

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@n777ua wrote:

I don't think anyone on the planet needs a $5k watch when a $5 Casio will do . . but if I had the money I'd buy a $10k rolex.  To each his own..

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@dalebb wrote:

i have to ask why does one need a 5k watch?

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$5k might be too much, but $5 is too little. A good watch is going to cost a couple hundred -- good meaning it's the last watch you have to buy.

[tntexans72]

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@Creditaddict wrote:

Well considering the things I have purchased in the past and when I did or didn't have money I don't have much room to talk but I don't have a problem with a 5k watch but if you have to BT to a card for 18 months, not sure that is the best idea... but only you know your finances so maybe you just carry it for 18 months because it's free money, I'm all about that!

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I am with you on that......who is the lender...CITI? Have you gotten approved yet? Last thing...what kind of watch for $5k? Just had to know

[AndySoCal]

If this is a charge account where the balance is due in full each month I would think twice about running your balance

[Anonymous]

Thanks for the advice. I sent a pm to Amex and they confirmed it's not a problem.

The watch I'm purchasing is Bristling Navitimer. For me a watch is a lot more a way to check the time. I consider the finer timepieces more art than function and am fascinated by the mechanical engineering that goes into them and the history they come with. I consider a 5k watch a bargain considering they can easily go for 10x that. A much better investment that something like a black card if you ask me.