topic Re: One High or Three Average? in Credit Card Applications

One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 02:22:40 GMT

Tomorrow is day 61 on my Surpass card so I can go from 6k to 18k. Should I keep that card at 18k or should I spread the limit to have 3 cards around 6k or even two at 9k?

Re: One High or Three Average?

M_Smart007 — Mon, 16 Sep 2019 02:41:22 GMT

@ToxikPH wrote:
Tomorrow is day 61 on my Surpass card so I can go from 6k to 18k. Should I keep that card at 18k or should I spread the limit to have 3 cards around 6k or even two at 9k?

@ToxikPH ...3x CLI's are NOT 100% Guaranteed!, some get'em, some don't ...

some get 2x. "Some get flat out Denied" .. "If" you get what you think you might get?

Then it depends on your spend, if you plan on carrying a balance on one particular card?,

then you would want to keep your CL high to keep Util. low. If you do not carry balances?.

You can spread your limit around. Just rember you can only transfer CL ONE time in 30 days.

and it will be 180 days till your next CLI .. GL2U

Re: One High or Three Average?

wasCB14 — Mon, 16 Sep 2019 02:54:01 GMT

True, 3x is far from guaranteed.

Which card...of those two or potentially a third card...would you actually use for a large transaction or BT?

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 02:56:10 GMT

Honestly I’m considering getting the EDP In six months so that would be the third. My end goal is the CSR and I want to have a few 10k cards so that one is way easier to get once I get under 5/24.

Re: One High or Three Average?

wasCB14 — Mon, 16 Sep 2019 03:35:02 GMT

@ToxikPH wrote:
Honestly I’m considering getting the EDP In six months so that would be the third. My end goal is the CSR and I want to have a few 10k cards so that one is way easier to get once I get under 5/24.

EDP might be better than Hilton or Delta for larger transactions, but keep in mind it is another AF and the marginal value may be pretty low. You have Rewards+ for small transactions, DC and Venture as 2% cards, and Gold for supermarkets. Not sure which of those are currently scheduled for closure.

If you do go with EDP, you can also wait to request a CLI in hope of getting a better SL on EDP or a smoother approval.

Re: One High or Three Average?

Aim_High — Mon, 16 Sep 2019 06:37:49 GMT

@ToxikPH wrote:
Honestly I’m considering getting the EDP In six months so that would be the third. My end goal is the CSR and I want to have a few 10k cards so that one is way easier to get once I get under 5/24.

There's your answer.

You need to be able to qualify for a minimum $10K line for CSR. You're not getting there yet. Leveraging is the name of the game, working your overall lines higher to get in that neighborhood so Chase feels good letting you have that much. Your average line right now is only $3,300. If you get the 2x or 3x CLI, I wouldn't dilute it. A $9K or $18K line would help you achieve your goal.

Of course, you'd knew I'd say One High with my screen name ... lol

Re: One High or Three Average?

NRB525 — Mon, 16 Sep 2019 10:14:57 GMT

@ToxikPH wrote:
Honestly I’m considering getting the EDP In six months so that would be the third. My end goal is the CSR and I want to have a few 10k cards so that one is way easier to get once I get under 5/24.

The CSR is a stretch in the near term.

What is the attraction of CSR if you already have Platinum and Gold?

As to the 3x planning, leaving potential Overall Limits space open on AMEX cards would be my suggestion, and was how I handled my AMEX revolvers apps over the last several years. The 3x can be used if you want to grow a single revolver.

Full disclosure I have Plat, Gold, CSR, and a few other high AF cards, so I don’t judge the decision. One route to the CSR is to skip EDP, to ensure you are well under 5/24, and to app CSP first. The $5k requirement gets you a similar earning card, and a clearer path to the CSR through PC a year later.

Re: One High or Three Average?

AverageJoesCredit — Mon, 16 Sep 2019 11:24:45 GMT

Three average joes trumps one high, AMEX POT isnt all its cracked up to be

Re: One High or Three Average?

CreditInspired — Mon, 16 Sep 2019 11:26:37 GMT

@M_Smart007 wrote:
@ToxikPH wrote:
Tomorrow is day 61 on my Surpass card so I can go from 6k to 18k. Should I keep that card at 18k or should I spread the limit to have 3 cards around 6k or even two at 9k?
@ToxikPH ...3x CLI's are NOT 100% Guaranteed!, some get'em, some don't ...
some get 2x. "Some get flat out Denied" .. "If" you get what you think you might get?
Then it depends on your spend, if you plan on carrying a balance on one particular card?,
then you would want to keep your CL high to keep Util. low. If you do not carry balances?.

You can spread your limit around. Just rember you can only transfer CL ONE time in 30 days.
and it will be 180 days till your next CLI .. GL2U

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 11:45:12 GMT

Doesn’t even matter as I got completely denied, not even a counter.

Re: One High or Three Average?

NRB525 — Mon, 16 Sep 2019 12:50:18 GMT

What timeframe is your AMEX sequence? Month and year for each of the four AMEX cards?

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 12:55:48 GMT

I got a BCE in November 18, BBP in March, gold card in April, HH in April, Delta in June, Platinum in August, and Surpass in.. August?

Re: One High or Three Average?

Anonymous — Mon, 16 Sep 2019 14:05:04 GMT

@ToxikPH wrote:
I got a BCE in November 18, BBP in March, gold card in April, HH in April, Delta in June, Platinum in August, and Surpass in.. August?

OK, so the denial is probably due to lack of time between CLI's. If it hasn't been 181 days since the last one on ANY of your cards then that's the denial you'll see on the disclaimer.

Just time it out correctly from the last one and you'll probably get approved for at least something.

CLI + Amex changes once you have more than one CC... then it converts from 61/181 to 181 between each one overall since they look at YOU not the CARD for the CLI process instead.

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 14:36:18 GMT

Actually my last cli was on the BCE back on March 10th.

Re: One High or Three Average?

NRB525 — Mon, 16 Sep 2019 15:05:41 GMT

6 personal and 1 business card all in 10 months? That is the reason no 3x CLI.

I could be wrong but I’d expect it will be 2021 before you can get CSP or CSR.

Congrats on all the new AMEX cards.

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 15:09:12 GMT

Yeah I’m gonna be in the garden for a while. Should I try for 3x at 91 days from now?

Re: One High or Three Average?

wasCB14 — Mon, 16 Sep 2019 15:31:07 GMT

@NRB525 wrote:
6 personal and 1 business card all in 10 months? That is the reason no 3x CLI.

I could be wrong but I’d expect it will be 2021 before you can get CSP or CSR.

Congrats on all the new AMEX cards.

@ToxikPH BCE and BBP aren't in your signature. Did you request for them to be closed? Did Amex initiate the account closing? Or you still have them?

Either of the first two could be cause for concern,

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 15:32:42 GMT

Still have both, I don’t put sock drawer cards in my sig.

Re: One High or Three Average?

Anonymous — Mon, 16 Sep 2019 15:54:10 GMT

@ToxikPH wrote:
Yeah I’m gonna be in the garden for a while. Should I try for 3x at 91 days from now?

No, you should CLI at 181 days from 3/10/2019 which would have been 9/7/2019 and you hit it today and got denied.

So, X number of cards in the last year should be sufficient for Amex for probably another 6 months. I would set a calendar reminder for 3/15/2020 and just hold tight. Make sure you got your spend out of the way and collected your bonuses because it's probably going to be a dry spell for a little while until they figure out your spend patterns for juggling 5-6 of their cards.

I guess another question that comes to mind is what other cards have you picked up in the past 12-24 months on top of these with Amex?

Sometimes there's something in the bigger picture that influences how lenders act when it comes to a CLI... for instance Citi reliably gives me 2K CLI's every 6 months and then they denied one a few months ago due to the # of new accounts I added just prior to the CLI coming due. I ended up waiting 2-3 months with another attempt in between but then the 2K came as expected.

Re: One High or Three Average?

ToxikPH — Mon, 16 Sep 2019 16:45:12 GMT

@Anonymous wrote:
@ToxikPH wrote:
Yeah I’m gonna be in the garden for a while. Should I try for 3x at 91 days from now?
No, you should CLI at 181 days from 3/10/2019 which would have been 9/7/2019 and you hit it today and got denied.

So, X number of cards in the last year should be sufficient for Amex for probably another 6 months. I would set a calendar reminder for 3/15/2020 and just hold tight. Make sure you got your spend out of the way and collected your bonuses because it's probably going to be a dry spell for a little while until they figure out your spend patterns for juggling 5-6 of their cards.

I guess another question that comes to mind is what other cards have you picked up in the past 12-24 months on top of these with Amex?

Sometimes there's something in the bigger picture that influences how lenders act when it comes to a CLI... for instance Citi reliably gives me 2K CLI's every 6 months and then they denied one a few months ago due to the # of new accounts I added just prior to the CLI coming due. I ended up waiting 2-3 months with another attempt in between but then the 2K came as expected.

It sounds like I'll be sitting exactly where I am for a long while. All of the cards in my sig have been since last November. Honestly, I have no clue how I got approved for the majority of these cards.