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Contributor
Posts: 78
Registered: ‎11-14-2012
0

Best Way to Use New TLs

[ Edited ]

Hi everyone!  Longtime lurker and somewhat recent poster.  I burned a lot of CCCs through my youth which really effected my ability to secure credit.  Based on the advice I read off this forum, I used a secured card and a Target Card over the past couple years to move my CS upward while the baddies on my CR fell off.  November hit and I applied for 3 cards throughout the month and was approved for all 3!!!  I couldn't believe it!  Now that I have 3 new TLs to add to my current report, my plans are below along with embedded questions:

 

  • AMEX BCE-approved Nov 30th, $2K CL, going to use as my primary card going forward, will request 3x CLI at 61 days, going to request backdating to my first AMEX in early 2000s, wondering if I can call CSR to activate and request this be changed to BCP before activation?
  • AMEX Green-approved Nov 30th, going to ask for backdate to my first AMEX from early 2000s, will close after 1 year when the annual fee hits, this card will get minimal, if any use, also wondering if I can request to have this changed to Gold by calling CSR at activation?
  • Barclays Apple-approved Nov 15th, $3,700, currently using as my primary card, but activity will end and PIF when the BCE is activated and will be my backup card, wondering when I should initiate a CLI since I just opened 2 new cards?  I was going to sit on a request for at least 6 months since I read Barclays is app sensitive and the CLI request would most likely be a HP if I initiated it
  • Secured Visa-$1K CL, will close this once I get approved for a CLI on the AMEX, opened in Jan 2011
  • Target RedCard-$700, opened in August 2011, also have DW added as AU this past summer, keeping this one open since DW primarily shops at Target for household items/cosmetics/non food basics and the 5% off is great

Other than keeping my UTL under 9% across the board, let me know if there are other gardening tips you might have for using my new mix of TLs.

 

Valued Contributor
Posts: 2,512
Registered: ‎11-11-2010
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Re: Best Way to Use New TLs

[ Edited ]

* You cannot PC BCE (no AF) to BCP (AF) until you have the card for 12 months. This is related to CARD Act and no way around it.

* Yes you can PC Green to Gold.

* Wait until 6 months, Barclays is extremely INQ and account sensitive. Be warned that Barclays may come after you for opening BCE and Green.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Contributor
Posts: 78
Registered: ‎11-14-2012
0

Re: Best Way to Use New TLs

[ Edited ]

trumpet-205 wrote:

* You cannot PC BCE (no AF) to BCP (AF) until you have the card for 12 months. This is related to CARD Act and no way around it.

* Yes you can PC Green to Gold.

* Wait until 6 months, Barclays is extremely INQ and account sensitive. Be warned that Barclays may come after you for opening BCE and Green.


Thanks for the advice, I will call AMEX and see about the Green to Gold.  The only reason I asked about changing BCE to BCP because the BCE has no AF and the BCP has a promotional no AF for the first year right now, and maybe I can sidestep the CARD act since technically both AFs are the same right now?

Valued Contributor
Posts: 2,512
Registered: ‎11-11-2010
0

Re: Best Way to Use New TLs

Promotional AF is for new account, when you PC promotional offer doesn't apply because you are not opening a new account.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
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Contributor
Posts: 78
Registered: ‎11-14-2012
0

Re: Best Way to Use New TLs

FYI, I spoke to the EO this morning.  You cannot upgrade accounts for 13 months, but he said I could apply for the PRG and still get the promotions so currently having a Green won't affect this since they are separate cards.  I asked if it would be another HP if I applied or if they could use the one from last week, and he checked with new accounts and said it would most likely be another HP.  I just rolled the dice and applied for PRG after I spoke with him and was instantly approved and my card should arrive in 1-3 calendar days.  I'm crossing my fingers they used the prior CR!  Smiley Tongue

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