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I carried a $2,000 balance on my BCE for a year and paid it off at the end of my 0% APR promo. They never took any adverse action, but they did deny me CLIs on my other accounts with them.
@Anonymous wrote:What is MS exactly? Sorry I don't know abbreviations very well.
But they were worried I was using it as a cash advance. Which is not true at all. I was just doing what companies are supposed to do for book keeping purposes.
Turns out they looked at my bank statement wrong. They only looked at the the average of my CHECKING account, not in addition to my SAVINGS. I talked to a supervisor about them cutting my limits and the second lady was a lot nicer than the first one. They saw the mistake and would give me a more appropriate limt. Well thanks AMEX. Thanks for putting a hard limit on my Green. I guess originally it was 3.6k of a hard limit, now they moved it to 8k. Okay great right! Turns out they didn't touch my Blue card!! Oh wait they did. My cash advance line is $200 instead of $100. It was 7k when my revolving limit was 18k.
I'm so done with AMEX. Now i'm trying to save my credit score the best I can. Citi was nice enough to give me a CLI no problem. definitely will be sticking with them.
MS is manufactured spending and its a taboo subject not open to advocation or discussion on myFico.
@UncleB wrote:I think another point to mention is that it was the Blue card that caused the inquiry, not the Green card. This is significant since using a Blue card will generally 'earn' cash back or miles (depending on the card), and they are known to be sticklers if they feel you're trying to game that.
When the OP openly admitted he was running business expenses through the Blue card, it was basically like telling them to their face that you're doing MS. While it's not the only reason they acted, I believe it's clearly a contributing factor, and not a minor one.
While using the Green card would have still earned MR points, I suspect it would not have been noticed by Amex as quickly as it was on the Blue card.
Not so sure of that. Maybe because OP is also a student (with multiple loans yet to report).
when I applied for SimplyCash, I told them I had been using the BCE for business. In fact, some charges from SimplyCash have been directed towards BCE. This reason was an agent not knowing what they were talking about. Probably a change in spending habits spooked them. Dunno, but would follow up with the reason code doing business with current relationships.
@Jeff532003 wrote:
App for the Venture maybe? They've been handing out nice limits with it and I would guess with your profile you'd get 10-15k to start. Transfer a good chunk of the AMEX over to the venture which will be 0% apr for 9 months and your util will look much better. Good luck.
If doing that, request balancee transfer check to pay from bank. Amex wants REAL payment, they don't like balance transfers (though their US Reps will claim otherwise).
@Anonymous wrote:
@baller4life wrote:
@Anonymous wrote:Yes, very interesting. Please keep us posted. Sounds like they want us to frame it and hang it on the wall! I didn't use mine this month at all. Used a few others and they just keep sending me emails to use "more". Never problems like this with any of the others. Chase, Barclay, Citi, Cap One, etc. All are fantastic.
And this is exactly why diversification is so crucial! I'll never give one company that much control over my credit! I will always make sure I'm diversified across SEVERAL lenders.
I refuse to revolve a balance with Amex. I use them has a charge card period.
Me too! Never have and never will.
I've been carrying a balance on my Delta card due to the 7% APR that's been in effect since last November, Was up to nearly $2,000 at November, Charged small amounts, paid $300 each month on autopayment, so it was gliding down to $500-$600, then put a new $2,500 charge through it, and requested the CLI increase from $9k to $12k at the same time. No issues.
@Jeff532003 wrote:
App for the Venture maybe? They've been handing out nice limits with it and I would guess with your profile you'd get 10-15k to start. Transfer a good chunk of the AMEX over to the venture which will be 0% apr for 9 months and your util will look much better. Good luck.
Why is the suggestion always "just app for a new card, they're handing out big limits?"
First of all the Venture is a triple pull so IMO, it's not something you app for unless you actually want it. If OP wants to find a 0% card, sure, go for it but they should find one they actually want (maybe the Venture will work for them but who knows).
Also, the overall utilization is going to be the same. The only thing it will help is the util from Amex's POV.
@kdm31091 wrote:
@Jeff532003 wrote:
App for the Venture maybe? They've been handing out nice limits with it and I would guess with your profile you'd get 10-15k to start. Transfer a good chunk of the AMEX over to the venture which will be 0% apr for 9 months and your util will look much better. Good luck.Why is the suggestion always "just app for a new card, they're handing out big limits?"
First of all the Venture is a triple pull so IMO, it's not something you app for unless you actually want it. If OP wants to find a 0% card, sure, go for it but they should find one they actually want (maybe the Venture will work for them but who knows).
Also, the overall utilization is going to be the same. The only thing it will help is the util from Amex's POV.
Also, I think people are getting the Venture and the Venture One confused. The Venture One has a 0% promo, the regular Venture does not. The regular Venture is the one that hands out the bigger limits ($5k min) though as it's a Visa sig. The Venture One gives a $3k minimum.
@OmarGB9 wrote:
@kdm31091 wrote:
@Jeff532003 wrote:
App for the Venture maybe? They've been handing out nice limits with it and I would guess with your profile you'd get 10-15k to start. Transfer a good chunk of the AMEX over to the venture which will be 0% apr for 9 months and your util will look much better. Good luck.Why is the suggestion always "just app for a new card, they're handing out big limits?"
First of all the Venture is a triple pull so IMO, it's not something you app for unless you actually want it. If OP wants to find a 0% card, sure, go for it but they should find one they actually want (maybe the Venture will work for them but who knows).
Also, the overall utilization is going to be the same. The only thing it will help is the util from Amex's POV.
Also, I think people are getting the Venture and the Venture One confused. The Venture One has a 0% promo, the regular Venture does not. The regular Venture is the one that hands out the bigger limits ($5k min) though as it's a Visa sig. The Venture One gives a $3k minimum.
Was wondering the same thing myself.
Did you read past that post at all? He/she had their limits slashed so they're not 'fine'
My bad. Sorry. I just reponded to the OP first post without reading the rest of the thread.