topic Re: Amex limit reallocation hassle in Credit Cards

Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 15:42:32 GMT

I call to transfer some CL from my EDP to BCP, both are new TL (Only a month old) and what a mission. They are telling me I have to have 13 months of history and they submitted a request to have it reallocated. Is this always that impossible to have this done?

EDIT: more details. I have $1k on BCP and $3k on EDP and want to tranfer $2k to BCP for more flexibility. After speaking to two departments, apparently my reuqest was declined and I have to wait 13 months of having the account open to do this. This is seemlessly done with Chase and BofA. I don't understand why Amex make it a hassle.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 15:42:56 GMT

@Jaylima91 wrote:
I call to transfer some CL from my EDP to BCP, both are new TL (Only a month old) and what a mission. They are telling me I have to have 13 months of history and they submitted a request to have it reallocated. Is this always that impossible to have this done?

It's not impossible but you have to follow their guidelines which requires the 13 months. Not sure how you trying to do it at 1 month makes it an issue with them. If you aren't aware of the requirements that falls on you, not them.

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 15:47:49 GMT

It's a hassle as I've been able to do this with chase with having less than a month of history with chase and BofA does it with no problem. No I wasn't aware of the requirement that's why I was stating its a hassle lol.

Anyway, I'm just venting. Don't want to start a ridiculous outrage.

Re: Amex limit reallocation hassle

CarbonCard — Sat, 30 May 2015 15:47:15 GMT

It's ok man, you didn't know. For future reference, it also takes 13 months to PC.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 15:48:16 GMT

@Jaylima91 wrote:
It's a hassle as I've been able to do this with chase with having less than a month of history with chase and BofA does it with no problem. No I wasn't aware of the requirement that's why I was stating its a hassle lol.

That's why you should always check with the board first :-). Not every creditor is the same.

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 15:52:30 GMT

@CarbonCard wrote:
It's ok man, you didn't know. For future reference, it also takes 13 months to PC.

That's the funny thing and this is why people shouldn't get so upset about a thread like mine. I got my Platinum in October 2014. I messaged Amex via chat and asked about PC my platinum to a green. (Just curious not that I want to) The lady said yes you qualify for this change and we can do it now. It's hasn't been 13 months you sure I can do this? Yes, I see your account is eligible for it. So banks change their policy's all the time and in some cases bend the rules. Everyone has always stated 13 months to PC but I was able to do it way before the 13 months.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 15:53:58 GMT

@Jaylima91 wrote:
It's a hassle as I've been able to do this with chase with having less than a month of history with chase and BofA does it with no problem. No I wasn't aware of the requirement that's why I was stating its a hassle lol.

Anyway, I'm just venting. Don't want to start a ridiculous outrage.

Every bank is different and have their own set of rules. Just because one does it immediately does not mean the other will do it....

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 15:55:51 GMT

@Jaylima91 wrote:
@CarbonCard wrote:
It's ok man, you didn't know. For future reference, it also takes 13 months to PC.
That's the funny thing and this is why people shouldn't get so upset about a thread like mine. I got my Platinum in October 2014. I messaged Amex via chat and asked about PC my platinum to a green. (Just curious not that I want to) The lady said yes you qualify for this change and we can do it now. It's hasn't been 13 months you sure I can do this? Yes, I see your account is eligible for it. So banks change their policy's all the time and in some cases bend the rules. Everyone has always stated 13 months to PC but I was able to do it way before the 13 months.

No one is upset about your thread. Only pointing out that you can't blame or fault a creditor because they made you follow their rules

Re: Amex limit reallocation hassle

B335is — Sat, 30 May 2015 15:57:26 GMT

At least Amex told you what the policy was. It took me months to figure out the "from" account had to be 13 months old.

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 15:58:53 GMT

@Anonymous wrote:
@Jaylima91 wrote:
@CarbonCard wrote:
It's ok man, you didn't know. For future reference, it also takes 13 months to PC.
That's the funny thing and this is why people shouldn't get so upset about a thread like mine. I got my Platinum in October 2014. I messaged Amex via chat and asked about PC my platinum to a green. (Just curious not that I want to) The lady said yes you qualify for this change and we can do it now. It's hasn't been 13 months you sure I can do this? Yes, I see your account is eligible for it. So banks change their policy's all the time and in some cases bend the rules. Everyone has always stated 13 months to PC but I was able to do it way before the 13 months.

No one is upset about your thread. Only pointing out that you can't blame or fault a creditor because they made you follow their rules

I am not blaming any creditor I am just venting and stating an opinion.

Re: Amex limit reallocation hassle

EW800 — Sat, 30 May 2015 16:00:02 GMT

Would anyone know if doing a CL transfer with Amex resets any type of clock? About six months ago I moved about $5K of my Optima account to my ED account with no problem. I would now like to move even more of the Optima CL (currently $15.5K) over to the AE (currently $12K). Anyone know if there is any type of waiting period after doing a CL transfer previously?

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 16:00:32 GMT

@EW800 wrote:
Would anyone know if doing a CL transfer with Amex resets any type of clock? About six months ago I moved about $5K of my Optima account to my ED account with no problem. I would now like to move even more of the Optima CL (currently $15.5K) over to the AE (currently $12K). Anyone know if there is any type of waiting period after doing a CL transfer previously?

Don't think so

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 16:04:26 GMT

Thank you guys. Ignorance is bliss in my case. I should've done A LOT more research prior to doing this. Would you guys recommend I close it considering I won't use it with $1k CL and I just got the EDP too? I am going to take the hit of 2 new TL on my profile since amex isn't backdating any longer

Re: Amex limit reallocation hassle

CarbonCard — Sat, 30 May 2015 16:07:52 GMT

Personally, I wouldn't. You can 3X CLI it, and PC to BCE after 13 months.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 16:09:32 GMT

@Jaylima91 wrote:
Thank you guys. Ignorance is bliss in my case. I should've done A LOT more research prior to doing this. Would you guys recommend I close it considering I won't use it with $1k CL and I just got the EDP too? I am going to take the hit of 2 new TL on my profile since amex isn't backdating any longer

I wouldn't close it. Don't you buy groceries at all.? The BCF can't be beat for that. And follow ClixT's suggestion about the 3X CLI

Re: Amex limit reallocation hassle

kdm31091 — Sat, 30 May 2015 16:12:28 GMT

It's not a hassle to do. You just have to know and follow the policy which is 13 months.

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 16:14:03 GMT

I buy groceries but I also spend a lot on my Cc monthly.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 16:15:08 GMT

@Jaylima91 wrote:
Thank you guys. Ignorance is bliss in my case. I should've done A LOT more research prior to doing this. Would you guys recommend I close it considering I won't use it with $1k CL and I just got the EDP too? I am going to take the hit of 2 new TL on my profile since amex isn't backdating any longer

Don't close it. Use both of them. It will just take some time. Did you already get a cli on the ED or no? Just make payments several times a month on your charges. It's already open now. The TLs will balance out.

Go for a limit increase in 6 months on the ED, and the next 6 months on the Blue.

From what I am reading here their Blue cash cards are kind of strict, and harder to get than the ED.

Re: Amex limit reallocation hassle

Anonymous — Sat, 30 May 2015 16:15:30 GMT

@Jaylima91 wrote:
I buy groceries but I also spend a lot on my Cc monthly.

Up to you but I wouldn't close out a card that gives 6% on groceries. If nothing else, just use it for that.

Re: Amex limit reallocation hassle

Jaylima91 — Sat, 30 May 2015 16:18:19 GMT

Thank you guys