topic Re: Amex 5 Card Limit Under 12 Months in Credit Cards

Amex 5 Card Limit Under 12 Months

ToxikPH — Sun, 30 Jun 2019 23:43:29 GMT

I'm interested in getting two more Amex cards which would put me over the 5 card limit, I have one that I want to cancel but I got it in November 2018, would canceling that for the two more cards cause issues with sign up bonuses including the one I got on that card along with the two new ones?

Re: Amex 5 Card Limit Under 12 Months

Anonymous — Mon, 01 Jul 2019 00:07:05 GMT

charge card doesn't count towards 5 limit.

and don't cancel before 1 year, bad for relationship and may cause problem down the road.

Re: Amex 5 Card Limit Under 12 Months

NRB525 — Mon, 01 Jul 2019 00:10:04 GMT

Is it a “five of anything “ limit?

Looks like you have a charge card

three personal revolvers

one business card.

What other card are you looking at?

Re: Amex 5 Card Limit Under 12 Months

ToxikPH — Mon, 01 Jul 2019 00:17:54 GMT

I have the four revolvers and am looking at the Everyday card and the Amazon Business. Wanting to canceling the Cash Magnet.

Re: Amex 5 Card Limit Under 12 Months

wasCB14 — Mon, 01 Jul 2019 00:27:13 GMT

@ToxikPH wrote:
I have the four revolvers and am looking at the Everyday card and the Amazon Business. Wanting to canceling the Cash Magnet.

Do you use your BBP purely for business, or is there some personal spend on there? ED may be a bit superfluous.

Re: Amex 5 Card Limit Under 12 Months

ToxikPH — Mon, 01 Jul 2019 00:44:03 GMT

Since I don't want to push my chances of doing anything wrong since Amex is my main lender the BBP is only business. I was also getting the Everyday only because of the 15 months 0% since I have some car repairs to do.

Re: Amex 5 Card Limit Under 12 Months

Anonymous — Mon, 01 Jul 2019 00:53:24 GMT

Have you checked their site for pre-qualified?

Re: Amex 5 Card Limit Under 12 Months

ToxikPH — Mon, 01 Jul 2019 00:58:43 GMT

I'm pre-approved for all Amex cards, that's not my issue.

Re: Amex 5 Card Limit Under 12 Months

wasCB14 — Mon, 01 Jul 2019 01:03:20 GMT

@ToxikPH wrote:
Since I don't want to push my chances of doing anything wrong since Amex is my main lender the BBP is only business. I was also getting the Everyday only because of the 15 months 0% since I have some car repairs to do.

I and others have found Amex really doesn't care about personal spend on BBP, so long as the bill is paid.

If you're comfortable sharing, what is your income? The $5k Hilton CL is nice, but the $2k Delta, $2k BBP, and $1k Cash Magnet do indicate quite marginal approvals. A pre-approval is not a guarantee of a useful limit. Also keep in mind CL reallocations are limited to once per 30 days.

Re: Amex 5 Card Limit Under 12 Months

ToxikPH — Mon, 01 Jul 2019 01:28:38 GMT

I'm only 20 so truthfully my income is only 28k before taxes.

Re: Amex 5 Card Limit Under 12 Months

EAJuggalo — Mon, 01 Jul 2019 01:43:13 GMT

If all of your cards are listed in your sig, the only three that count against your 5 revolver limit are the Hilton, Delta and Magnet. If you want the ED, app for it. I wouldn't close the Magnet until after the anniversary.

Re: Amex 5 Card Limit Under 12 Months

ToxikPH — Mon, 01 Jul 2019 01:57:19 GMT

The BBP is the forth revolver. Getting the Amazon and Everyday would push to 6.

Re: Amex 5 Card Limit Under 12 Months

kilroy8 — Mon, 01 Jul 2019 02:28:13 GMT

It's a lot for one so young.

Maybe give what you have time to grow?

Re: Amex 5 Card Limit Under 12 Months

wasCB14 — Mon, 01 Jul 2019 06:56:58 GMT

Another consideration is that if you keep getting a lot of Amex cards (and closing some) on a limited income, Amex may tell you you're ineligible for big bonuses you may want in the future when your income and spend rise.

Re: Amex 5 Card Limit Under 12 Months

MrCreditInternational — Mon, 01 Jul 2019 09:57:25 GMT

Also I would strongly recommend diversifying your collection.
Open cards with other lenders to make sure that you're not depending on one lender only.

I'm still a college student and it's doable.