Help! Best Course of Action with New AMEX CC <--Noob Here

[Anonymous]

Hi all:

I posted a question on here under Credit Card approvals - similar but this maybe taken different if anyone already experienced!

I was borderline approved with AMEX when I tried for BCE and I was countered offer for $500 SL which I accepted. Anyway, 5 days later almost all of my baddies were out of Experian and I was approved for BCP for $5,000 CL. Since my initial card was pulled from few days sooner before my baddies are gone, I think asking for CLI will not be approved. What do you guys think my best course of action?

1.) Call and ask if they can match my BCP of $5,000?

2.) Tried to request during activation and "Denied" due to my credit score...

3.) Ask to cancel this card and apply for different one that I think I will be able to get a better SL?

Thanks all your time! I really appreciate any input!

[Anonymous]

First off, congratulations on both approvals. The second one came with a good startling limit. If it were me, I would wait to ask for a cli on the first. Put some use on it as well as the second one. I don't see Amex taking your card from a $500 limit to matching the other one. Most of the time with their cli's, it is up to 3x the current limit. I would wait and ask for a cli on the $5k limit, asking for $15k. If approved at that time, ask to have $5k moved from that card to the one with the $500 limit.

[Anonymous]

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@Anonymous wrote:

First off, congratulations on both approvals. The second one came with a good startling limit. If it were me, I would wait to ask for a cli on the first. Put some use on it as well as the second one. I don't see Amex taking your card from a $500 limit to matching the other one. Most of the time with their cli's, it is up to 3x the current limit. I would wait and ask for a cli on the $5k limit, asking for $15k. If approved at that time, ask to have $5k moved from that card to the one with the $500 limit.

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Hi thanks! Do I wait to request the $15k limit on activation or towards the the 60 day? I dont want to get my accounts flagged for requesting high limit too soon and being new..

on another note, I was able to backdate all of my new 3 cards (BCE, BCP and Platinum) back to 2006 when I was an AU to my husband's AMEX. So I think even if I dont use the BCE I can just leave it in a sock drawer till I'm able to get another card with AMEX in 90 days I was told. Just maybe because I can benefit from the AAoA keeping the BCE even with very low limit. thoughts? 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

First off, congratulations on both approvals. The second one came with a good startling limit. If it were me, I would wait to ask for a cli on the first. Put some use on it as well as the second one. I don't see Amex taking your card from a $500 limit to matching the other one. Most of the time with their cli's, it is up to 3x the current limit. I would wait and ask for a cli on the $5k limit, asking for $15k. If approved at that time, ask to have $5k moved from that card to the one with the $500 limit.

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Hi thanks! Do I wait to request the $15k limit on activation or towards the the 60 day? I dont want to get my accounts flagged for requesting high limit too soon and being new..

on another note, I was able to backdate all of my new 3 cards (BCE, BCP and Platinum) back to 2006 when I was an AU to my husband's AMEX. So I think even if I dont use the BCE I can just leave it in a sock drawer till I'm able to get another card with AMEX in 90 days I was told. Just maybe because I can benefit from the AAoA keeping the BCE even with very low limit. thoughts? 

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A couple of things that you should know. While the card itself will be backdated, it won't be backdated on your credit report. Amex stopped backdating cards on people's credit report a little over a year ago.

I would wait the 60 days before requesting a cli, but that is just me and some other members here might say go for it now. My hesitation on it is that the first card was barealy approved. Had you waited to apply for that card until all of the baddies fell off, you might have had a slight chance of it getting approved. With the cards you have in your signature and their limits, I think Amex might want to see how you use the $5k limit before approving an increase.

[Anonymous]

Hi James Great advice! You seemed to have AMEX for awhile. I have couple more questions.... I'm really contemplating of just cancelling the BCE just because the BCP is exact the same and I dont think I can benefit on both rewards? 

What do you suggest? I also want to open myself to getting a better card that has a better SL. But, if I take this course, the BCE will it take a hit on my credit score? 

You also said that they dont back date - I just got my Platinum charge card today and on that one it does says Member Since '06. Will that be reported different than the one BCE of which I had to request to change the member since date?

Thank you!

[newhis]

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@Anonymous wrote:

A couple of things that you should know. While the card itself will be backdated, it won't be backdated on your credit report. Amex stopped backdating cards on people's credit report a little over a year ago.

I would wait the 60 days before requesting a cli, but that is just me and some other members here might say go for it now. My hesitation on it is that the first card was barealy approved. Had you waited to apply for that card until all of the baddies fell off, you might have had a slight chance of it getting approved. With the cards you have in your signature and their limits, I think Amex might want to see how you use the $5k limit before approving an increase.

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 +1

Every Amex open will be a new account and will hurt AAoA. The card can say Member Since 06 but your credit reports will say, open 2016, no way around that anymore.

[Anonymous]

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@Anonymous wrote:

Hi James Great advice! You seemed to have AMEX for awhile. I have couple more questions.... I'm really contemplating of just cancelling the BCE just because the BCP is exact the same and I dont think I can benefit on both rewards? 

What do you suggest? I also want to open myself to getting a better card that has a better SL. But, if I take this course, the BCE will it take a hit on my credit score? 

You also said that they dont back date - I just got my Platinum charge card today and on that one it does says Member Since '06. Will that be reported different than the one BCE of which I had to request to change the member since date?

Thank you!

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The Member Since Date will be backdated, but not on your credit report. The card will show as just having been opened.

[Anonymous]

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@Anonymous wrote:

Hi James Great advice! You seemed to have AMEX for awhile. I have couple more questions.... I'm really contemplating of just cancelling the BCE just because the BCP is exact the same and I dont think I can benefit on both rewards? 

What do you suggest? I also want to open myself to getting a better card that has a better SL. But, if I take this course, the BCE will it take a hit on my credit score? 

You also said that they dont back date - I just got my Platinum charge card today and on that one it does says Member Since '06. Will that be reported different than the one BCE of which I had to request to change the member since date?

Thank you!

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The cards themselves will show the member since date of when you became a member of amex, for example I was approved rescently for the Platinum Card and it has my member since date of when I received my first amex card but when they report to the credit bureau, it will have the date of approval for the new cards as the start date. They do not backdate to the credit bureaus any longer.

If you cancel the card now you are still going to take a hit on your AAoA since it will report to the bureaus as a new account and then a closed account.

I agree that the BCE and BCP are pretty much the exact same cards but with different reward %'s. Having both to me does not make any sense but at the same time just closing one now doesn't make much sense either. If it were me, I would keep both for now, get the increases on the one that you want to keep and as soon as Amex will allow you to do so, move the limit from the card you don't want to the card you do want and then close it. Probably something like a year but on this I am not sure as I have not moved limits around on any of my Amex cards.

A little advice, when applying for cards, only apply for the ones that you know you want to keep. All of my cards have their purposes and benefits that work with my spendig habits and how I use the rewards. Just because a card is great for one person, does not mean it is great for the next.

[kdm31091]

Just want to echo what others have said....the cards you get will say "since 2006" on them, as will your online account, but the actual date that is reported to the bureaus will not be 2006. The cards will show as being freshly opened.

The "since 2006" is purely cosmetic at this point and has no real bearing on anything. They used to actually backdate the cards as far as the bureaus but that's long since over.

[Anonymous]

!!!!!!!First on the new cards!!!!!
*😃noiice😃*

(IF) it was me keep both....3x cli on BCEP Try again later for 3x cli on BCED then move (all $)to BCED....cause I don't like AF.