wrote:Hi guys! Hope everyone is having a good Friday.
Not too bad. How's yours?
I just need some expert opinion on what would be the best game plan for growing the AMEX BCE. I am due for my 2nd CLI this month. I currently have 3K on this card, but I am contemplating on whether I should just transfer some limit from the Blue Delta which they started at 15K, instead of asking for a CLI.
If you want to grow the BCE by more, you could always ask for a CLI on the Delta, then transfer some of that over. YMMV on being able to do so in the first year that the donor card has been opened, but we were able to do it online from DW's 3 month old Delta card to her ED.
I also have the Green Card, which I use together with the other two and I usually spend about $500 to $600 on each card per month.
The merits of the green card I'll skip for now.
So I am not sure if AMEX would even give me a full 3X for my second attempt, granting that I never use the full limits on all three accounts.
Well hopefully you're not using the full limits, anyway. Many many datapoints here on people getting big limits with limited spend.
I also don't want to max out my exposure for a possible Visa card which I was planning to apply for in the spring. My annual income is only around 48K. If my available CL reaches 50% of my income, would that prevent lenders from extending a competative SL or even grant me an approval?
My revolving limits are at around 250% of income. The only time that ever presented itself as an issue was with PenFed. That was about $200k in revolvers ago. I called and spoke with a loan officer, she gave me a $12,500 CLI. A year later, the computer gave me a matching pair of $9,500 CLIs on the same cards. Shouldn't be a problem. 50% is pretty low compared to a lot of this crowd.
I was thinking that instead of asking for an increase, perhaps I should just move 5K from Blue Delta to the BCE to bring it up to 8K and it would still look good on my report for any future app.
Certainly an option.
Or would it even matter to lenders that my available limit would surpass my annual Income.
Probably not. See PenFed example above.
This April or May, I will probably step out of the Garden
Make an appointment with pizza to unlock the gate.
to apply for either the BofA Cash Rewards or the Uber Visa (gearing towards this card more, because of the Dining, Travel and cellphone insurance perks?), I am checking Chase off of my list for now since I am at 5/24 now. Perhaps down the road I can become eligible for Chase cards. I would appreciate any advice that you can give me. Thank you in advance.
You could always check in-branch (unless you live in New England where there are no Chase branches) for targeted offers, or sign up for their free credit score site that apparently has similar offers to the "green check mark" offers that we cardholders see in our account that bypass 5/24.
Sorry for being lazy and doing the red text thing.
Thanks K for taking the time giving me that detailed advice. As always, reading through it gives me peace of mind. I was worried that surpassing your income with available credit might hurt my chances of getting a good SL from any lender or even an approval if I apply. I definitely will look into Chase. I know it's going to be a long shot, since I don't have any existing Banking relationships with them to even be considered for an In branch approval. Was thinking perhaps, Amazon Prime Visa might be my ticket, since I am a member of Prime already. But I'll take my time on that, since it's not really that urgent. More time in the garden, means more time to enjoy the company of the wonderfully gifted My Fico(ers) in the Garden Club. I am holding onto my spade for as long as I can.
wrote:
wrote:Hi guys! Hope everyone is having a good Friday.
Not too bad. How's yours?
I just need some expert opinion on what would be the best game plan for growing the AMEX BCE. I am due for my 2nd CLI this month. I currently have 3K on this card, but I am contemplating on whether I should just transfer some limit from the Blue Delta which they started at 15K, instead of asking for a CLI.
If you want to grow the BCE by more, you could always ask for a CLI on the Delta, then transfer some of that over. YMMV on being able to do so in the first year that the donor card has been opened, but we were able to do it online from DW's 3 month old Delta card to her ED.
I also have the Green Card, which I use together with the other two and I usually spend about $500 to $600 on each card per month.
The merits of the green card I'll skip for now.
So I am not sure if AMEX would even give me a full 3X for my second attempt, granting that I never use the full limits on all three accounts.
Well hopefully you're not using the full limits, anyway. Many many datapoints here on people getting big limits with limited spend.
I also don't want to max out my exposure for a possible Visa card which I was planning to apply for in the spring. My annual income is only around 48K. If my available CL reaches 50% of my income, would that prevent lenders from extending a competative SL or even grant me an approval?
My revolving limits are at around 250% of income. The only time that ever presented itself as an issue was with PenFed. That was about $200k in revolvers ago. I called and spoke with a loan officer, she gave me a $12,500 CLI. A year later, the computer gave me a matching pair of $9,500 CLIs on the same cards. Shouldn't be a problem. 50% is pretty low compared to a lot of this crowd.
I was thinking that instead of asking for an increase, perhaps I should just move 5K from Blue Delta to the BCE to bring it up to 8K and it would still look good on my report for any future app.
Certainly an option.
Or would it even matter to lenders that my available limit would surpass my annual Income.
Probably not. See PenFed example above.
This April or May, I will probably step out of the Garden
Make an appointment with pizza to unlock the gate.
to apply for either the BofA Cash Rewards or the Uber Visa (gearing towards this card more, because of the Dining, Travel and cellphone insurance perks?), I am checking Chase off of my list for now since I am at 5/24 now. Perhaps down the road I can become eligible for Chase cards. I would appreciate any advice that you can give me. Thank you in advance.
You could always check in-branch (unless you live in New England where there are no Chase branches) for targeted offers, or sign up for their free credit score site that apparently has similar offers to the "green check mark" offers that we cardholders see in our account that bypass 5/24.
Sorry for being lazy and doing the red text thing.