topic Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef in Credit Cards

Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benefits?

GlowInSoul — Tue, 13 Jun 2023 16:39:31 GMT

Hi all!

I'm searching for a new card to put around $10-15k on for a project that I want to start soon. I can pay off right away if need be, but would love to pay off over time and thus the 0% intro if possible.
I obviously want to maximize benefits, but having the chance of getting a higher limit is the main goal as I'm unsure at the moment if I can split the payment. Why I want to be able to hold the balance for free: I will be getting 'repayment' for my purchase later that I then would use to pay of the card. This way I keep my money invested earning money for me while using the credit card to hold the balance until the repayment arrives.

Experian FICO 8: 792
Oldest account: 9 1/2 years
Youngest: 9 months
Average: 5years
Past year hard pulls: 0
Current usage: $3k out of $75k limit (Most of that on a Citi Home Depot card bc of 0% for larger purchases)
Current credit cards:
- Home Depot Citi, $6k
- CPO SavorOne, $6k
- CPO Quicksilver, $5.5
- Amex Hilton, $33k
- Chase Amazon Prime, $8k
- US Bank Cash + (youngest card), $17k

My only other dept is my mortgage.

No late payments, no bankruptcy, around $120k annual income.

Now, I know that there are no guarantees for anything ever. But according to your experience, how likely is it to get a $10k + credit limit with my stats for:
- Wells Fargo Active Cash® Card
- Chase Freedom Unlimited®
- Bank of America® Travel Rewards credit card

And if you were me, which one would you apply for? Or do you have a different suggestion that would fit the bill?
Thanks so much in advance for your guidance!

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

NYC_Fella — Tue, 13 Jun 2023 17:12:12 GMT

Just a couple of data points that may help:

WF: $22K SL with 660 score 2 years ago

BofA: $9.5K SL with 720 score 2 months ago

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

K-in-Boston — Tue, 13 Jun 2023 18:09:21 GMT

@GlowInSoul wrote:
I'm searching for a new card to put around $10-15k on for a project that I want to start soon. I can pay off right away if need be, but would love to pay off over time and thus the 0% intro if possible.

Experian FICO 8: 792

- Amex Hilton, $33k

Or do you have a different suggestion that would fit the bill?

Amex Cash Magnet, $200 Welcome Offer and 0% on new purchases for 15 months.
Amex EveryDay, 10k MRs and 0% on new purchases for 15 months.
Amex Blue Cash Everyday, $200 Welcome Offer and 0% on new purchases for 15 months.
Amex Blue Cash Preferred, $250 Welcome Offer, first AF waived, and 0% on new purchases for 12 months.
Amex Amex EveryDay Preferred, 15k MRs and 0% on new purchases for 12 months ($95 AF not waived).

Presuming the Amex Hilton is personal and not business, you can reallocate most of the credit line of your Hilton card to the new card eliminating the risk of not having a credit line large enough to cover the purchase (and have a little breathing room so the card isn't maxed while you enjoy the 0%). No such thing as a "sure thing" in the credit world, but that's about as close as one can get.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

SouthJamaica — Tue, 13 Jun 2023 18:11:51 GMT

@GlowInSoul wrote:
Hi all!

I'm searching for a new card to put around $10-15k on for a project that I want to start soon. I can pay off right away if need be, but would love to pay off over time and thus the 0% intro if possible.
I obviously want to maximize benefits, but having the chance of getting a higher limit is the main goal as I'm unsure at the moment if I can split the payment. Why I want to be able to hold the balance for free: I will be getting 'repayment' for my purchase later that I then would use to pay of the card. This way I keep my money invested earning money for me while using the credit card to hold the balance until the repayment arrives.

Experian FICO 8: 792
Oldest account: 9 1/2 years
Youngest: 9 months
Average: 5years
Past year hard pulls: 0
Current usage: $3k out of $75k limit (Most of that on a Citi Home Depot card bc of 0% for larger purchases)
Current credit cards:
- Home Depot Citi, $6k
- CPO SavorOne, $6k
- CPO Quicksilver, $5.5
- Amex Hilton, $33k
- Chase Amazon Prime, $8k
- US Bank Cash + (youngest card), $17k

My only other dept is my mortgage.
No late payments, no bankruptcy, around $120k annual income.
Now, I know that there are no guarantees for anything ever. But according to your experience, how likely is it to get a $10k + credit limit with my stats for:
- Wells Fargo Active Cash® Card
- Chase Freedom Unlimited®
- Bank of America® Travel Rewards credit card

And if you were me, which one would you apply for? Or do you have a different suggestion that would fit the bill?
Thanks so much in advance for your guidance!

As between those 3 cards, I'm pretty sure the BOA card would be the one with the higher starting limit.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GlowInSoul — Tue, 13 Jun 2023 19:11:13 GMT

I had no clue at all that AMEX allows you to do that, but that seems like a great option for me then.

Yes, my Hilton Amex is a personal one, so that would not be an issue.

When reading up on it it still ther is still an approval necessary from Amex though, as said before nothing is guaranteed, but this seems like the 'safest' option in my case.

Thank you for broadening my horizon!

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

Rogue46 — Tue, 13 Jun 2023 19:19:33 GMT

@GlowInSoul wrote:
I had no clue at all that AMEX allows you to do that, but that seems like a great option for me then.
Yes, my Hilton Amex is a personal one, so that would not be an issue.

When reading up on it it still ther is still an approval necessary from Amex though, as said before nothing is guaranteed, but this seems like the 'safest' option in my case.

Thank you for broadening my horizon!

You can check the Amex pre-approvals which tend to be pretty solid and seeing you already have one of their cards it will be a soft pull

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

K-in-Boston — Tue, 13 Jun 2023 19:24:11 GMT

@GlowInSoul wrote:
I had no clue at all that AMEX allows you to do that, but that seems like a great option for me then.
Yes, my Hilton Amex is a personal one, so that would not be an issue.

When reading up on it it still ther is still an approval necessary from Amex though, as said before nothing is guaranteed, but this seems like the 'safest' option in my case.

Thank you for broadening my horizon!

Yes, Amex allows credit line reallocation from one card to one other card every 30 days from personal to personal, business to business, or personal to business (but not business to personal). This can be done easily online and it is instant. You'll need to leave some of the credit line on the donor card; that can be as little as $500 to $1000 on no-AF cards and I have seen as high as $3900 required for higher AF cards (these amounts are in addition to any pending or existing balances on the card). Unless there's some mitigating factor we're unaware of, it would be shocking to not be approved. Just make sure that you shop around for the best Welcome Offer available on the card you choose if you go this route, and make sure to click the Offer Terms link to make sure the offer you are seeing includes a 0% introductory offer. (Amex offers them, but they don't typically advertise it right up front and center like $ and points bonuses these days.)

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

K-in-Boston — Tue, 13 Jun 2023 19:27:09 GMT

@Rogue46 wrote:
You can check the Amex pre-approvals which tend to be pretty solid and seeing you already have one of their cards it will be a soft pull

In most cases it's true that a current cardholder won't receive a HP when applying for another Amex card, but exceptions happen often enough that this should read "it will very likely be a soft pull."

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GApeachy — Tue, 13 Jun 2023 19:40:07 GMT

@K-in-Boston wrote:
@Rogue46 wrote:
You can check the Amex pre-approvals which tend to be pretty solid and seeing you already have one of their cards it will be a soft pull
In most cases it's true that a current cardholder won't receive a HP when applying for another Amex card, but exceptions happen often enough that this should read "it will very likely be a soft pull."

Yep, I wore the Amex dunce cap 4 times.

@GlowInSoul Perhaps you could split your upcoming purchases between a couple of cards for utl sake.

Does your USB card still have a bt offer?

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GlowInSoul — Tue, 13 Jun 2023 20:13:12 GMT

@GApeachy

I'm unclear yet if I can split the purchase or not, I'm waiting for confirmation.

Also, what is a BT offer? My cash plus 0% APR is running out in October.

@K-in-Boston
I found an articel where they are arguing that your account needs to be 60 days old at least for Amex to do the limit transfer. Does that mean the new card needs to be at least 60 days old or my general customer account?

@Rogue46

Oh, I should try that then and see where I land with Amex.

I guess the Cash Magnet would be good for my purpose if I go this route, since it would be general spending for 1.5% cash back, 15 months 0% APR and $200 bonus.

The reason I was looking at the Chase Freedom unlimited, since it has the same sign up bonused, but a couple more categories with higher cash back % for possible later use. Even though I have some of those categories already checked with the same %...

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

Rogue46 — Tue, 13 Jun 2023 20:23:33 GMT

@K-in-Boston wrote:
@Rogue46 wrote:
You can check the Amex pre-approvals which tend to be pretty solid and seeing you already have one of their cards it will be a soft pull
In most cases it's true that a current cardholder won't receive a HP when applying for another Amex card, but exceptions happen often enough that this should read "it will very likely be a soft pull."

@K-in-Boston

Thank you for clarifying that. I don't want to mislead anyone.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GlowInSoul — Tue, 13 Jun 2023 20:38:51 GMT

@K-in-Boston

Have you heard of cases where existing Ames customers (with a different card) did not receive the new card offers suchs as the intro APR or the $200?
Just read a couple of reviews of the Cash Magnet that claimed that they, as existing Amex customers, didnt receive the sign up bonuses. ('When contacting customer service, I was told that because I've received an offer on another Amex card in the past (so basically because I'm a return customer), I am ineligible to receive the offer for a second time. BEWARE, they will not waiver on this policy and stand firm since you have acknowledged and accepted their terms during the application process.')

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

K-in-Boston — Tue, 13 Jun 2023 20:44:44 GMT

@GlowInSoul wrote:
@GApeachy
I'm unclear yet if I can split the purchase or not, I'm waiting for confirmation.

Also, what is a BT offer? My cash plus 0% APR is running out in October.

@K-in-Boston
I found an articel where they are arguing that your account needs to be 60 days old at least for Amex to do the limit transfer. Does that mean the new card needs to be at least 60 days old or my general customer account?

@Rogue46
Oh, I should try that then and see where I land with Amex.

I guess the Cash Magnet would be good for my purpose if I go this route, since it would be general spending for 1.5% cash back, 15 months 0% APR and $200 bonus.

The reason I was looking at the Chase Freedom unlimited, since it has the same sign up bonused, but a couple more categories with higher cash back % for possible later use. Even though I have some of those categories already checked with the same %...

BT = Balance Transfer

The donor/donee card age (30 days, 60 days, 1 year) used to be an issue years ago, but I haven't heard of that happening to anyone in a long, long time. I've moved limits from/to brand new cards quite a few times over the past maybe 6 years.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

K-in-Boston — Tue, 13 Jun 2023 21:00:16 GMT

@GlowInSoul wrote:
@K-in-Boston
Have you heard of cases where existing Ames customers (with a different card) did not receive the new card offers suchs as the intro APR or the $200?
Just read a couple of reviews of the Cash Magnet that claimed that they, as existing Amex customers, didnt receive the sign up bonuses. ('When contacting customer service, I was told that because I've received an offer on another Amex card in the past (so basically because I'm a return customer), I am ineligible to receive the offer for a second time. BEWARE, they will not waiver on this policy and stand firm since you have acknowledged and accepted their terms during the application process.')

All the time and it happens with every personal and business card. But you would get a popup window advising you of such before completing the application; it doesn't appear that you'd be in the target demographic from your earlier post unless there are a bunch of recently closed cards in there as well. The reviewer is likely using the phrase "return customer" very loosely. Amex introduced this as an anti-abuse policy. Also, Amex Welcome Offers are once-in-a-lifetime, meaning for instance that if you have ever had an Amex EveryDay or Platinum card you can never receive a Welcome Offer on the same card again. That is a bit different than the popup, and lifetime usually means more like 7 years.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GlowInSoul — Tue, 13 Jun 2023 21:30:31 GMT

@K-in-Boston

No, no closed cards except for a Citi Costco card, but no Amex ones.
I was an authorized user on an Amex EveryDay card before, but the card is (as far as I know) still open, I'm just not an authorized user anymore.

The Hilton card was opened in 2017 so is quite old already as well.

Yes, I read about the once in a lifetime as well, but didn't have any other Amex card before than the hilton.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

coldfusion — Wed, 14 Jun 2023 13:13:16 GMT

@GlowInSoul wrote:
@K-in-Boston
No, no closed cards except for a Citi Costco card, but no Amex ones.
I was an authorized user on an Amex EveryDay card before, but the card is (as far as I know) still open, I'm just not an authorized user anymore.

The Hilton card was opened in 2017 so is quite old already as well.

Yes, I read about the once in a lifetime as well, but didn't have any other Amex card before than the hilton.

Common reasons for getting a No SUB For You popup would be having recently added and/or recent history of placing minimal to no spend on existing AMEX cards. Data points suggest that if recent lack of spend is the reason, regular substantive use of the existing card(s) for a few months resolves the issue.

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GlowInSoul — Wed, 14 Jun 2023 21:21:43 GMT

@K-in-Boston @Rogue46 @GApeachy @coldfusion

Just applied for the Magnet, didn't get the pop up and was approved for $20k
I might still shuffle a bit of my limit over to that card because of utilization.

All is good

Thank you so much for your help!

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

GApeachy — Wed, 14 Jun 2023 21:26:08 GMT

@GlowInSoul Well Easy Peasey is the name of your game....that's fantastic! Lol, you didn't need my help and I didn't help, more like a ramble, hahaha, but I was there for you in spirit anyway, congrats!

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

Rogue46 — Wed, 14 Jun 2023 21:33:38 GMT

@GlowInSoul wrote:
@K-in-Boston @Rogue46 @GApeachy @coldfusion

Just applied for the Magnet, didn't get the pop up and was approved for $20k
I might still shuffle a bit of my limit over to that card because of utilization.

All is good
Thank you so much for your help!

Good for you!

Re: Any tips on a high limit approval credit card with long 0% intro APR and Cash Back/useable benef

NoMoreE46 — Thu, 15 Jun 2023 16:42:28 GMT

Congrats @GlowInSoul !

Please feel free to post your success in the Approvals area.

I am requesting this thread to be closed.