Close a low limit AMEX Blue Cash ?? Need advice

[Anonymous]

Hello,

I was approved for an AMEX ED in late 2015 at 3k SL and did a 2x CLI (got scared to do 3X) and it went to 6k on activation of the card.  In February of 2016 I decided to go after another card and applied for the AMEX BC and was disappointed to get a 1k limit.  I was able to increase the ED to 12k where it has been for some time (CLI declined do to score last time).  Because I can only CLI one card every 6 months and because the Blue Cash is so low I am thinking it might make the most sense to close it and reapply when I come out of the garden this time next year.  By then my scores should be in the low 700's and my ulitization is currently 19% and will be under 10% by then.  I think that is the direction I want to go in but want to make sure I am not missing an unintended consequence.  Any suggestions??

[Anonymous]

Does Amex allow people to transfer part of the limit on one card to another, while keeping both open? If they allow that, I would transfer $4K from the Everyday to the BCE and leave both open for AAoA. Then, once your scores/utilization improves you can work on both cards again to get the limits raised. 

[kidink1911]

I agree- move some of the limit and keep both open for AAOA.

I definitely would not close it. Good luck to you!

[Anonymous]

Move some limits. My ed after a couple cli was 13800 cl. I applied for blue cash and only approved for 2000,so I moved 3800 over from ed to make ed 10000
and blue cash now at 5800.
When 6 months are up I'll try to 3x the blue cash and then both cards will be over 10000.

[K-in-Boston]

Unlike CapOne, AmeEx knows that your credit standing changes over time and would not hold where you were against you in the future.  I would 2nd moving the majority of the credit line over to your other card for now (this does not reset your 181 days), then when you feel your profile supports it, either get a big CLI on the ED and move some back to the BC, or move some to the BC and apply for a CLI on that one.  AmEx now makes this very easy to do online, and you can move all but $500 of the credit line.  Log in, go to one of those 2 accounts, click the Account Services tab up top, Credit Management on the left, then click Transfer Available Credit To Another Card.  If this is a card you will want later on, it's worth keeping the age.

[AverageJoesCredit]

Agree with everyone so far, why close an account only to reapp it in a year, when you can move limits, thanks Amex!. Hope you go that route working, this way you get best of both worlds

[Anonymous]

As always this is the place to go for great advice.  I will move some of my ED limit over as I am sure my credit will support a 3X CLI when I am due in July.  

Your ideas and comments are very much appreciated.  

[Anonymous]

No af card might as well keep it open while moving limits around. Extend that AAoA!