topic Re: CLI request on which AmEx card? WWYD? in Credit Cards

CLI request on which AmEx card? WWYD?

Anonymous — Tue, 11 Feb 2014 21:26:35 GMT

So, in 2 days I can finally try for the 3x CLI on my first AmEx (Blue Cash) with a $1k CL. However, here's my dilemma.....

If I (can) wait until March 5th (easier said than done), my second AmEx revolver (BCP) will be 61 days old. As you can see from my siggy, my current CL for BCP is $10k....which would mean a lot nicer 3x CLI, if approved, of course. (By the way, if I do try for the CLI on this card, I think I'm going to try for the full 3x since I'm ok with signing a 4506, if requested).

Since AmEx allows only 1 CLI per customer every 180 days, I have to make a decision as to which CLI to go for. It may be obvious to many people which one would be the "better" one. However, I keep going back & forth because:

1) a $1k CL on the Blue Cash is pretty low for the spend I have been putting on it. I've spent around $1500+ on it each statement cycle so far (& would like to spend more to get to the $6500 minimum spend to qualify for the 5% categories faster)

2) We're hoping to app for a mortgage later this year. And, even though I typically keep (and plan to keep) my overall utilization under 2-3%, I'm afraid a new $25k-$30k CL (if AmEx will actually approve it), may freak out an underwriter. (Although the BCP is backdated to 01/2013, I'm pretty sure an u/w could still tell this is a fairly new account).

3) I don't want to freak out my other CCCs (will not name any names) with such a large increase in available credit with the BCP (of course, again, assuming it's approved).....especially after reading about other members' experiences with AA with the same creditor.

4) I may have a better chance at 3x CLI on the Blue Cash vs. BCP, internal-scoring wise with AmEX, since I'm a fairly new member & I don't want to have to wait another 90 days to try for another CLI if not approved on the BCP initally.

So, anyway, what would you do if you were me? Which CLI would you go for & why? Any (nice) thoughts & recommendations are very much welcome!

P.S. FWIW, just want to add that in August or September (180 days from the initial CLI for Blue Cash or BCP), I would then have the option to request a CLI for my (new) SPG card with a CL of $3.5k. So, I'm just trying to map out the best strategy with my AmEx cards for this year as to which ones to request for & in which order. My family goes on about 2 out of country vacations per year so the SPG card having a higher limit would definitely be helpful too. In fact, if it weren't my newest AmEx, I would probably go for the CLI on that one first....but that isn't the case....and I don't think I have the patience to wait on that one with these 2 other cards qualifying sooner.

Re: CLI request on which AmEx card? WWYD?

Anonymous — Tue, 11 Feb 2014 22:09:49 GMT

My first question is, what are your goals! If it is just to get high CL, then going with the BCP makes sense.

But if you got the BC for MS (don't know another good reason to get it!) clearly a $1K limit is going to be pretty useless, so try for the next two CLI on that, as you need a minimum of $5K to make it useful. This avoids your other problem about concerning other issues with a large increase.

If you don't want to do two on the BC, because you want to grow SPG, then decide which of the BC and BCP has most value to you.

Re: CLI request on which AmEx card? WWYD?

Anonymous — Tue, 11 Feb 2014 22:47:58 GMT

@Anonymous wrote:
My first question is, what are your goals! If it is just to get high CL, then going with the BCP makes sense.

But if you got the BC for MS (don't know another good reason to get it!) clearly a $1K limit is going to be pretty useless, so try for the next two CLI on that, as you need a minimum of $5K to make it useful. This avoids your other problem about concerning other issues with a large increase.

If you don't want to do two on the BC, because you want to grow SPG, then decide which of the BC and BCP has most value to you.

Yeah, I can see how BC can be good for MS purposes. But other than paying for our mortgage, car payments, childcare, etc., MS (in the traditional sense) was not the main motivator for the BC.

Really, BC works for us primarily because it eventually means a minimum of 5% on gas, groceries & drugstores (after the initial 6.5k spend)....especially considering that my other cards have monthly or yearly caps (for groceries & gas), 1-2% for drugstores & 3% for gas (which isn't bad, but 5% is better!) And with a family, that's pretty much our day-to-day spend (groceries can add up to $800/month + 5% drugstore savings for my & my DH's regular meds/prescriptions adds up too). So the plan in the meantime was to put some other purchases (utilities, tax & insurance payments + other misc. spend) on the Blue Cash to get to the 6.5k faster in order to maximize my usage at 5% later on. To your point, a 1k cl is pretty useless.....and one of the main reasons a higher CL on BC is so appealing. Plus, admittedly, not sure if I have the patience to wait 'til March 5th for the other!

But a potential $25k+ CL on at least one of my cards also means (maybe) better future CLIs for my current ones (that's if certain creditors don't view it negatively) and/or better starting limits for future cc's (that is, later on this year & after our mortgage app). Obtaining that type of CL would be a big milestone for me, too.....definitely a first.

So, I guess that's where my confusion lies.....and you're right, prioritizing my goals would definitely help. So, I figured hearing what others may do if facing the same decision may help give me some direction......

Re: CLI request on which AmEx card? WWYD?

Anonymous — Tue, 11 Feb 2014 22:54:42 GMT

OK, the reason I thought BC was for MS was because there are other easier cards to use for groceries (each spouse gets a Sallie Mae to add $500 per month to the ~ $500 of BCP spending) but that doesn't cover drug stores. So go for an increase now on the BC, $3K is fine for non-MS spending. Then, at the 6 month mark, you should have a better idea of whether your BC or SPG needs the love, or whether getting a big CL is more important

Re: CLI request on which AmEx card? WWYD?

Anonymous — Wed, 12 Feb 2014 00:04:51 GMT

@Anonymous wrote:
OK, the reason I thought BC was for MS was because there are other easier cards to use for groceries (each spouse gets a Sallie Mae to add $500 per month to the ~ $500 of BCP spending) but that doesn't cover drug stores. So go for an increase now on the BC, $3K is fine for non-MS spending. Then, at the 6 month mark, you should have a better idea of whether your BC or SPG needs the love, or whether getting a big CL is more important

I agree....in theory, that is a much easier route! But since DH & I both started out with the Barclay Rewards (for average credit) & he still has his....it probably wouldn't have been as easy for us anyway.

I originally tried for a PC to the Sallie Mae but ultimately had to put in a new app (with a hard pull) then re-con to get it. Probably due to the fact that I already had 2 Barclay cards, I basically had to close my Rewards card & transfer that CL to open Sallie Mae. For the BC, it was a simple PC (from my previous BCE). But you're right, going in, if we had either known about the Sallie Mae card (before app'ing for the Rewards card) or about Barclays PC policies altogether, both of us starting out with Sallie Mae would have been a much easier process!

Thank you also for your thoughts. I think you've just helped me map out my plan! My "practical" side told me that was the way to go too....but the lure of a high CL was just too tempting not to consider it. But I think what it comes back to is what I need right now vs. want....and we really don't need that high of a CL right now, considering our other shorter term goals. In 6 months, that may change......