Just cut my first month after my new statements on PRG and Delta gold. $3k+ changed to PRG and I let delta statement cut with $0 crashes on 2k limit.
I wanted to take full cycle to pay the charge card so I can had one lump PIF vs two or three payments. I read here in the forums how that's the preferred method.
A a few days after the statement, after I've run a few hundred on the card, I got a declined email on a $10 recurring charge. Called Amex and they said that it's fine if I don't PIF in a single payment as long as I PIF before the next statement. So I paid $1700 to get myself sub $2k outstanding. Now after I've charged another few hundred I checked the approval button and they approved a $2k charge and denied a $3k so figured the current internal limit is. In the 4k ballpark. (Maybe $5k exposure limit incl delta).
Questions for you guys:
1) am I overthinking the downside of making multiple payments to PRG after statement cuts?
2) I need to put $1k on the delta card to earn my signup bonus but I don't want to use the card much. (Just want to put $333/m on the card). Would this negatively affect me askin for 3x CLI on the delta card? I don't want to divert spend away from PRG unless I have to. But my Cap one and BofA are only $500 limit each so I'm looking to leverage the Amex revolver into higher limit revolver)
3) I haven't put much on the delta card so I'm also thinking of asking Amex to switch me to the SPG card instead. Both are zero AF first year so that should be doable but I wouldn't get the SPG bonus signup points, despite not having taken/earned any delta skymiles bonus signup points)
Thank you all!!
@PointLager wrote:
Just cut my first month after my new statements on PRG and Delta gold. $3k+ changed to PRG and I let delta statement cut with $0 crashes on 2k limit.
I wanted to take full cycle to pay the charge card so I can had one lump PIF vs two or three payments. I read here in the forums how that's the preferred method.
A a few days after the statement, after I've run a few hundred on the card, I got a declined email on a $10 recurring charge. Called Amex and they said that it's fine if I don't PIF in a single payment as long as I PIF before the next statement. So I paid $1700 to get myself sub $2k outstanding. Now after I've charged another few hundred I checked the approval button and they approved a $2k charge and denied a $3k so figured the current internal limit is. In the 4k ballpark. (Maybe $5k exposure limit incl delta).
Questions for you guys:
1) am I overthinking the downside of making multiple payments to PRG after statement cuts?
2) I need to put $1k on the delta card to earn my signup bonus but I don't want to use the card much. (Just want to put $333/m on the card). Would this negatively affect me askin for 3x CLI on the delta card? I don't want to divert spend away from PRG unless I have to. But my Cap one and BofA are only $500 limit each so I'm looking to leverage the Amex revolver into higher limit revolver)
3) I haven't put much on the delta card so I'm also thinking of asking Amex to switch me to the SPG card instead. Both are zero AF first year so that should be doable but I wouldn't get the SPG bonus signup points, despite not having taken/earned any delta skymiles bonus signup points)
Thank you all!!
Welcome to myFICO...yes, I think you are over thinking things...lol. YMMV, but in my experience it has never been an issue how many payments you make, as long as everything is paid as agreed before the due date. For Delta's bonus, as long as you spend the $1,000 before the expiration date, you are fine. Make sure it is $1,000...lol...even $999 ($333 x 3) may give you hassles...lol. Even though the PC to SPG may be doable, if you lose out on both bonus opportunities, it may not be o your benefit. I'm sure others will comment further with more detailed explanations and/or options. Good luck.
1. I don't think I've seen any reliable information that multiple payments is an issue. I wouldn't go crazy making payments every day, but there are lots of people that like to make weekly payments. I often send in payments midcycle if a work reimbursement comes in. Shouldn't be an issue.
3. I would not switch to the SPG card. I would apply for a new card to get the bonus unless you have a reason to be extremely inquiry sensitive, like applying for a mortgage in the near term. And if you were going to apply for a mortgage or something like that, consider whether it makes sense to wait until afterward and apply with the bonus. For example, if your timeline was 1 year until you would apply, are you going to forego 25K SPG points by not having the card over the next year. If you put that much spend through the card, then go ahead and apply now. But it doesn't sound like you are spendign that much per month currently where you would need the card now as opposed to applying later when you can take advantage of the bonus.
Starting Score: ~500 (12/01/2008)Thanks for the feedback guys. I'm glad that I can start paying my PRG weekly or biweekly to have it in line with pay cycles. As my limit grows I can switch to a single PIF after the statement cuts.
And, although delta points seem to have been devalued, the signup bonus seems more lucrative: 30k SkyMiles+ $50 statement credit on delta purchase for $1000 spend > 25k SPG points for $5k spend.
Have people been getting the 3X CLI if they don't use a card much? When I pass the 60d mark on my delta I would have only had $1k spend on it. I guess I can always call in and, when asking for 3x CLI, tell them that I haven't been using it much *because* of the low limit and have been putting the spend on the PRG.
confirmed with Amex: doing a PC forfeits the initial bonus miles and you won't get the bonus miles for the new card.
hopefully i can do a 3x CLI in a month with not too much spend history on the card.
Couple of things...
1. Waiting until just before the next statement to pay off the previous one is a good way to get onto AMEX's bad side.
2. It's your first statement, so you should be trying to demonstrate responsible behavior to increase your internal limit. 
3. You only need to pay once, but you should do so before the "please pay by" date.
4. The "check spending ability" tool stacks in a 24 hour period. So if you ask for 1k and then 2k it's like asking for 3k.
5. After 3 or so statements the internal limit gets very high (depending on income
@rlx01 wrote:Couple of things...
1. Waiting until just before the next statement to pay off the previous one is a good way to get onto AMEX's bad side.
2. It's your first statement, so you should be trying to demonstrate responsible behavior to increase your internal limit.
3. You only need to pay once, but you should do so before the "please pay by" date.
4. The "check spending ability" tool stacks in a 24 hour period. So if you ask for 1k and then 2k it's like asking for 3k.
5. After 3 or so statements the internal limit gets very high (depending on income
So Amex will have a problem if I pay on time, but pay right before the due date on the PRG?
;