I could use some Expert MyFico'ers advice AmEx question.

[Anonymous]

I have 3 AmEx Cards and another that I'm AU on.

I have the PR Gold, Blue Cash, Blue Cash Preferred (These are my Cards, all backdated to 91)

I had called AmEx a few days ago and asked the Rep if I could close my reg Blue Cash and slide the 6K CL over to my BCP card (5K) now, he said what we could do is to close the Blue Cash card and slide 5K over to the BCP card so this way when the Blue Cash is closed it will show that it had a 1K CL on my reports, because if we slid the entire 6K over to the BCP and closed the Blue Cash it would report as closed but with no CL and that could raise flags, I really don't know why they couldn't slide the entire 6K over and just close the Blue and show it had a 6K CL, but I assume this rep I spoke with knows what he's talking about, besides I'm not worried about losing the 1K.

So my question is this, my Blue Cash is due to hit the 6 month mark where I could ask for a CLI (Dec 2nd) and my BCP is going to hit the 61st day mark around the 9th of Dec, I'm thinking of waiting till Dec 9th and asking for an additional 5K (yes only 5K, not the normal 3X rule, I don't want to press it) on my BCP bringing it to 10K and a week or two after that, closing my Blue Cash and sliding the 5K over to the BCP bringing that card to 15K, so this way according to the rep, my Blue Cash will report as closed with a 1K CL and I will have my BCP with a 15K CL.

I don't really need both Blue cards, and the BCP is a much better rewards card, and I won't take a hit to my AAoA's now, because the Blue will stay on my reports for the next ten years, and when it finally does fall off in 2021, I will still have my two other AmEx's there that will be 31 years worth of age each in 2021, not to mention all of my other cards will have aged 10 years as well.

So, the paragraph I have highlighted red, does that sound like a good plan? I personally can't think of any better way of doing this, if I could get some feedback from you MyFico Experts I would greatly appreciate any suggestions/advice.

Thank you in advance for taking the time to read this.

[LS2982]

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@Anonymous wrote:

I have 3 AmEx Cards and another that I'm AU on.

I have the PR Gold, Blue Cash, Blue Cash Preferred (These are my Cards, all backdated to 91)

I had called AmEx a few days ago and asked the Rep if I could close my reg Blue Cash and slide the 6K CL over to my BCP card (5K) now, he said what we could do is to close the Blue Cash card and slide 5K over to the BCP card so this way when the Blue Cash is closed it will show that it had a 1K CL on my reports, because if we slid the entire 6K over to the BCP and closed the Blue Cash it would report as closed but with no CL and that could raise flags, I really don't know why they couldn't slide the entire 6K over and just close the Blue and show it had a 6K CL, but I assume this rep I spoke with knows what he's talking about, besides I'm not worried about losing the 1K.

So my question is this, my Blue Cash is due to hit the 6 month mark where I could ask for a CLI (Dec 2nd) and my BCP is going to hit the 61st day mark around the 9th of Dec, I'm thinking of waiting till Dec 9th and asking for an additional 5K (yes only 5K, not the normal 3X rule, I don't want to press it) on my BCP bringing it to 10K and a week or two after that, closing my Blue Cash and sliding the 5K over to the BCP bringing that card to 15K, so this way according to the rep, my Blue Cash will report as closed with a 1K CL and I will have my BCP with a 15K CL.

I don't really need both Blue cards, and the BCP is a much better rewards card, and I won't take a hit to my AAoA's now, because the Blue will stay on my reports for the next ten years, and when it finally does fall off in 2021, I will still have my two other AmEx's there that will be 31 years worth of age each in 2021, not to mention all of my other cards will have aged 10 years as well.

So, the paragraph I have highlighted red, does that sound like a good plan? I personally can't think of any better way of doing this, if I could get some feedback from you MyFico Experts I would greatly appreciate any suggestions/advice.

Thank you in advance for taking the time to read this.

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That sounds like a solid plan, taking in consideration that the AmEx rep you spoke with gave you accurate information. I would probably call back and ask 1 other person just to verify before doing something drastic.

[Anonymous]

Oh I definitely will call and speak to another rep before I do anything, I just don't understand why they cant close the Blue showing it had a 6K CL and slide the entire 6K over to the BCP, but again, if that's the way it has to be done, I am not worried one bit about losing that 1K so the Blue will report as having a CL. (Closed at consumers request, Pays or Paid as Agrees) you know all the positive reporting I need.

My Blue Cash has a 0 bal and it will have a 0 bal at the time I request to close it, and so on.....

Thanks for your reply.....

[Anonymous]

Shameless bump

[bichonmom]

Well, I'm *not* an expert , but it seems like a good plan to me. I can't think of a reason why it wouldn't work. Good luck!

[Odiseous]

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@Anonymous wrote:

So my question is this, my Blue Cash is due to hit the 6 month mark where I could ask for a CLI (Dec 2nd) and my BCP is going to hit the 61st day mark around the 9th of Dec, I'm thinking of waiting till Dec 9th and asking for an additional 5K (yes only 5K, not the normal 3X rule, I don't want to press it) on my BCP bringing it to 10K and a week or two after that, closing my Blue Cash and sliding the 5K over to the BCP bringing that card to 15K, so this way according to the rep, my Blue Cash will report as closed with a 1K CL and I will have my BCP with a 15K CL.

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You may want to double check if this is possible, before you close the BC. The Rep may not have taken into account how new your BCP tradeline was. 

My Mercedes AmEx hit 61 days on Oct 24. My BC came up for the 6 month 3x CLI on Oct 28. 

Naturally; I did the CLI on the larger CL card (BC). Note: They did counter me on the CLI; so I didn't get the full 3x (went from $6k to $10.8k, instead of $18k). I accepted, because that was more than I'd have gotten going from $2k to $6k on the Mercedes AmEx (though not by much).

After I got the limit on the BC (and I made sure it was showing online); I tried to do a CL transfer of $4k to the Mercedes AmEx, using the online option. I got a screen saying it would be reviewed, and I'd receive a letter. In the end; it was declined, because the Mecedes AmEx had not been open long enough, to be eligible for the CL transfer. 

[Anonymous]

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@Odiseous wrote:

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@Anonymous wrote:

So my question is this, my Blue Cash is due to hit the 6 month mark where I could ask for a CLI (Dec 2nd) and my BCP is going to hit the 61st day mark around the 9th of Dec, I'm thinking of waiting till Dec 9th and asking for an additional 5K (yes only 5K, not the normal 3X rule, I don't want to press it) on my BCP bringing it to 10K and a week or two after that, closing my Blue Cash and sliding the 5K over to the BCP bringing that card to 15K, so this way according to the rep, my Blue Cash will report as closed with a 1K CL and I will have my BCP with a 15K CL.

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You may want to double check if this is possible, before you close the BC. The Rep may not have taken into account how new your BCP tradeline was. 

My Mercedes AmEx hit 61 days on Oct 24. My BC came up for the 6 month 3x CLI on Oct 28. 

Naturally; I did the CLI on the larger CL card (BC). Note: They did counter me on the CLI; so I didn't get the full 3x (went from $6k to $10.8k, instead of $18k). I accepted, because that was more than I'd have gotten going from $2k to $6k on the Mercedes AmEx (though not by much).

After I got the limit on the BC (and I made sure it was showing online); I tried to do a CL transfer of $4k to the Mercedes AmEx, using the online option. I got a screen saying it would be reviewed, and I'd receive a letter. In the end; it was declined, because the Mecedes AmEx had not been open long enough, to be eligible for the CL transfer.

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Never thought of it that way, When I did speak to the rep, I did ask him to double check, he placed me on a brief hold and came back and said yes it is possible to do.

My BCP has a 5K limit and my BC has a 6K limit, the reason I'm not going for the CLI on the BC is simply because I feel if I go that route (I was only going to ask for a 4K increase anyway, bringing my BC to 10K, I see no reason to push it, 10K is more than enough) I'd be worried about asking AmEx to slide 9K over to the BCP rather than just 5K, so I felt it would be better to request the CLI on the BCP (just 1X my current CL) bringing the BCP to 10K and then like a week or two later call and ask (again, a different rep) if I can close the BC and slide over the 5K or 6K to the BCP, and go from there.

Thanks for the replies, the more insight I can get the better.

[Creditaddict]

I would ask for the CLI on the card you have had the longest, then after you get the CLI, I would put in for the transfer of the other CL before closing that card, However reading the other post stating the account was to new to transfer CL's is something to consider... pretty sure that is that new 1 year rule wtih Amex.

Now many years ago when you use to be able to move CL's yourself online it made you keep $500 CL on any given card and you could leave it open or close it.  I personally would do the CLI and if the other account is to new to move CL then let it sit for a year... I mean if you get the blue preferred you want to keep up to 15k why even worry about moving the 5k regular blue CL, it has no annual fee... just let it sit, in 6 months ask for a CLI on it or again on the new blue.

[Walt_K]

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@Anonymous wrote:

Oh I definitely will call and speak to another rep before I do anything, I just don't understand why they cant close the Blue showing it had a 6K CL and slide the entire 6K over to the BCP, but again, if that's the way it has to be done, I am not worried one bit about losing that 1K so the Blue will report as having a CL. (Closed at consumers request, Pays or Paid as Agrees) you know all the positive reporting I need.

My Blue Cash has a 0 bal and it will have a 0 bal at the time I request to close it, and so on.....

Thanks for your reply.....

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Probably because the account is going to report its CL at time of closure.  And they don't move CLs for closed accounts.  Closed accounts do not report their highest ever limit.  So, if you close it first to keep the $6K CL reported, then there is nothing to transfer.  If you transfer first, then it has to be reduced and reported that way when it closes.  It just seems a natural outcome of the sequence of events.  I hear you though on form over substance. 

[clocktick]

This is the exact same thing I was/am going to do.  However, when I called the rep I had to wait 13 months to convert my CL from my Blue to my BCP.  Also, the rep told me I could slide all but $500 over.  You seemed to talk to them more recently so maybe things changed?

Also, I noticed on the Amex site that you can do it on there too.  If you go to the card and then Account home>Profile and Preferences>See more options>Account Management>Manage Credit Limit

I haven't tried it yet because I'm waiting out my 13 months with having the BCP.  My rep wasn't aware of the 13-month "rule" but when she came back, she told me about it.  Please update if you are successful.  I'm extremely interested in this.