topic Re: AMEX: Apps or 3X CLI first?? in Credit Cards

AMEX: Apps or 3X CLI first??

601flyguy — Mon, 23 Apr 2018 23:52:22 GMT

I currently have the PRG and BCE. I am looking to app for the Simply Cash and possibly another on the personal side. I'm not sure if I should app first or 3x first.

History
I got both cards 3/17. Bce started out with 500 on credit steps. I did not follow steps. I did receive my 3x CLIs on time, currently at 4.5k.

My EX is 789
AAoA is 1y 3m
No new accounts since 5/17
No hp since 3/17, from them.

What do you guys think??

Re: AMEX: Apps or 3X CLI first??

MrDisco99 — Tue, 24 Apr 2018 00:33:04 GMT

With your profile, I can't see why you couldn't just do both.

Re: AMEX: Apps or 3X CLI first??

K-in-Boston — Tue, 24 Apr 2018 13:28:51 GMT

I'm not sure if it really matters which order you do it in. DW asked for a 3X CLI on her ED card in the fall to $36k and got a counter-offer of $32k, but then when she apped for the Delta Gold SkyMiles card a few weeks later, her starting line was $23,700. I thought it was odd that they didn't extend her the additional $4k she asked for, but had no problem giving her another $23k+ on a new card. I bring it up because even if you do the CLI and they don't give you the full amount, that doesn't necessarily mean that you're tapped out with Amex.

Did you burn Amex in a BK previously or still have one showing on your reports? Just asking because the $500 and credit steps seems odd for your score (unless it's changed drastically since applying).

Re: AMEX: Apps or 3X CLI first??

601flyguy — Tue, 24 Apr 2018 13:51:07 GMT

No bk or anything on my report. My scores have changed drastically. Score was around 720 when applied and profile was very thin.
I believe I'll request my 3x first and app right after.

Re: AMEX: Apps or 3X CLI first??

Anonymous — Wed, 25 Apr 2018 00:30:40 GMT

Given the DP I've seen here, do the CLI first. It might mean a higher SL on the new card. When I apped the Gold Delta Skymiles, i still had a low limit on my BCE. And in turn didn't get a very high SL. So when it came time for a new card with Citi, i did my CLI first. Then apped for the new AADvantage card. Got higher SL than I thought I would.

Re: AMEX: Apps or 3X CLI first??

601flyguy — Wed, 25 Apr 2018 01:20:06 GMT

Thanks, that info really helps. Now i am concerned about should I app for Simply Cash or Blue Business... My spend in the SC categories are minimal. 2X MR points on everything sounds good, but then i don't travel much so what do i do with the points?? I usually use MR on gift cards that are 1:1 (or less) and sell them. Am I missing something? Could i get more value from the points??

Re: AMEX: Apps or 3X CLI first??

K-in-Boston — Wed, 25 Apr 2018 02:49:29 GMT

Ouch. Yeah gift cards are going to be 1 cent per point best-case scenario and usually more like 0.7 cpp. For the best redemption value, you want to move those to travel partners or at the very least utilize Amex Travel for airfare. You say you don’t travel much. Would you like to travel more?

Re: AMEX: Apps or 3X CLI first??

Anonymous — Wed, 25 Apr 2018 03:01:41 GMT

Off topic here to the actual question posed by the OP, but something worth mentioning. You mentioned that your newest account was opened on May of 2017. This means that on May 1 of this year your AoYA reaches 1 year. That's a significant benchmark and could easily result in a 10-15 point score gain. Outside of the score gain, it's simply a great look when applying to have an AoYA of over 1 year.

For you, that's 1 week away. I'd honestly wait that week before apping. Will it make a difference in your approval terms? Maybe yes, maybe no, but it can't hurt and IMO it's worth the week wait. You can knock out the CLI request in the meantime and know that a week from now your profile will be even stronger, giving you greater confidence in your app.

Re: AMEX: Apps or 3X CLI first??

601flyguy — Thu, 26 Apr 2018 03:30:14 GMT

Well, I drive over 50k miles a year to buy inventory but dont fly or stay at hotels. So i don't know what travel partners would really benefit me.

Yep, I plan on waiting until after the 1st regardless. Just trying to get my plan in order.

Re: AMEX: Apps or 3X CLI first??

Anonymous — Thu, 26 Apr 2018 05:25:30 GMT

Seems to me that you should get a card that has good gas rewards!

Re: AMEX: Apps or 3X CLI first??

601flyguy — Thu, 26 Apr 2018 05:47:12 GMT

I already get 3% on gas with BoA. I may grab a 5% card.
I really need a card that will give me nice cash back at walmart/target/etc. I spend over 100k there and only get 1%.

Re: AMEX: Apps or 3X CLI first??

601flyguy — Tue, 01 May 2018 02:46:16 GMT

Wow, logged in and was welcomed with a pop-up for a personal loan. Preapproval for $25k with 7-9% APR and no HP. Is it normal for them to send these??

Re: AMEX: Apps or 3X CLI first??

UncleB — Tue, 01 May 2018 04:48:12 GMT

@601flyguy wrote:
Wow, logged in and was welcomed with a pop-up for a personal loan. Preapproval for $25k with 7-9% APR and no HP. Is it normal for them to send these??

Yep, I have a couple of payments left on one myself.

There were several threads over in Personal Finance about these.

Re: AMEX: Apps or 3X CLI first??

601flyguy — Tue, 01 May 2018 15:15:10 GMT

So now i guess the question is, do I accept the loan before or after app/3x? I have a few other questions too so I guess i will be posting over there.

Re: AMEX: Apps or 3X CLI first??

Anonymous — Tue, 01 May 2018 16:14:15 GMT

@601flyguySo now i guess the question is, do I accept the loan before or after app/3x? I have a few other questions too so I guess i will be posting over there.

Maybe I misunderstood the purpose of your thread here, but wasn't it about apping for a revolver first vs requesting a 3X CLI on another? If I missed somewhere that you said you were interested in a loan I do apologize, but if not I don't think you should be apping for a loan just because you received an offer.

Re: AMEX: Apps or 3X CLI first??

601flyguy — Tue, 01 May 2018 19:24:33 GMT

You are right, the original question was about revolver and 3x. Then I saw the loan preapproval.
Im not apping just because I received the offer. I plan to use it to finance my LLC.