topic Re: Not so YAY! for AMEX Blue Cash approval in Credit Cards

Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 16:56:30 GMT

After weeks of preparing my scores and util the moment of truth came yesterday. After multiple unsuccessful attempts to PC my BCP to the BC I pulled the trigger and apped for the AMEX BLUE CASH for the 5% rewards. Sadly to say I was only approved for $2000.

My thinking is it might have had something to do with the fact that I already have the PRG and BCP.

I've only had PRG and BCP for four months, is it possible to move the CLs over to the newly minted BC?

If not, what's the quickest way? I am finding out more and more that AMEX has become my go to card for 90% of my purchases.

Re: Not so YAY! for AMEX Blue Cash approval

eagle2013 — Tue, 15 Apr 2014 16:51:27 GMT

No credit limit reallocations until your BCP is 13 months old. I know, I also pulled the trigger for Delta Platinum and received $2k and was hoping to move some of my credit limit over from the BCP since that is primarily a grocery card.

Re: Not so YAY! for AMEX Blue Cash approval

Swapmeet — Tue, 15 Apr 2014 17:00:38 GMT

The quickest way is to get that 61 day 3x cli.

Re: Not so YAY! for AMEX Blue Cash approval

Kenny — Tue, 15 Apr 2014 17:02:34 GMT

Yes, I agree CLI is the quickest way to raise it and make it functional for you.

I think it's because you obtained 3 amex in less than 5 months. 2 in December and one 4 months later, that's a lot for most companies.

Good luck on your CLI -- hopefully it will make the card more functional for you.

Re: Not so YAY! for AMEX Blue Cash approval

Stralem — Tue, 15 Apr 2014 17:03:29 GMT

Chase really does spoil people in thet regard. They'll let you divvy up your total limits six ways from Sunday if you so desire.

Re: Not so YAY! for AMEX Blue Cash approval

Gunnar419 — Tue, 15 Apr 2014 17:07:42 GMT

@Swapmeet wrote:
The quickest way is to get that 61 day 3x cli.

Precisely. A $2k CL from some companies might deserve a disappointing reaction, but it's very normal from Amex (particularly when you've recently gotten new cards). If your stats look good and you ask, it could be $18k within the year with those famoux 3X CLIs.

Re: Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 17:13:31 GMT

Thanks everyone.

My plan is to Reallocate my BCP CL over at the 13th month. Then cancel my BCP.. hopefully before the AF is assessed.

With that said, should the focus be to 3X the BCP or 3x the new BC?

Re: Not so YAY! for AMEX Blue Cash approval

eagle2013 — Tue, 15 Apr 2014 17:56:55 GMT

@Fico2Go wrote:
Thanks everyone.

My plan is to Reallocate my BCP CL over at the 13th month. Then cancel my BCP.. hopefully before the AF is assessed.

With that said, should the focus be to 3X the BCP or 3x the new BC?

I'd be curious to know others thoughts on this one too. I opened up a lot of new accounts within the past two months (6, including 2 from AMEX), so I am not completely sure if I'll get a CLI. For me, I think I'll stick with trying for the 3X ClI BCP next month in order maximize the most availiable credit limit AMEX is willing to offer, if anything.

Re: Not so YAY! for AMEX Blue Cash approval

Kenny — Tue, 15 Apr 2014 18:01:55 GMT

Correct me if I'm wrong, but don't you only get the CLI on the BC at day 61? And then again whenever the BCP is allowable? Aren't you 4 months away from a BCP CLI?

(Sorry, I've never really understood it, and just when I think I do I get confused again.) LOL

Re: Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 18:03:38 GMT

@eagle2013 wrote:
@Fico2Go wrote:
Thanks everyone.

My plan is to Reallocate my BCP CL over at the 13th month. Then cancel my BCP.. hopefully before the AF is assessed.

With that said, should the focus be to 3X the BCP or 3x the new BC?

I'd be curious to know others thoughts on this one too. I opened up a lot of new accounts within the past two months (6, including 2 from AMEX), so I am not completely sure if I'll get a CLI. For me, I think I'll stick with trying for the 3X ClI BCP next month in order maximize the most availiable credit limit AMEX is willing to offer, if anything.

After rereading the AMEX 3X guide and the 6 month rule it looks like the best strategy would be to maximize the highest CL tradeline. The 6 month rule applies to all AMEX accounts.

Re: Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 18:07:11 GMT

@KennyRS wrote:
Correct me if I'm wrong, but don't you only get the CLI on the BC at day 61? And then again whenever the BCP is allowable? Aren't you 4 months away from a BCP CLI?

(Sorry, I've never really understood it, and just when I think I do I get confused again.) LOL

Kenny, unless I missed somewhere the 61 day 3x applies only to your first CL increase request. Any increase after that for any AMEX account will require 6 months.

( yes it woul be wonderful we could do a 61 day 3X increase across all AMEX cards. )

Re: Not so YAY! for AMEX Blue Cash approval

Kenny — Tue, 15 Apr 2014 18:26:05 GMT

@Fico2Go wrote:
@KennyRS wrote:
Correct me if I'm wrong, but don't you only get the CLI on the BC at day 61? And then again whenever the BCP is allowable? Aren't you 4 months away from a BCP CLI?

(Sorry, I've never really understood it, and just when I think I do I get confused again.) LOL

Kenny, unless I missed somewhere the 61 day 3x applies only to your first CL increase request. Any increase after that for any AMEX account will require 6 months.

( yes it woul be wonderful we could do a 61 day 3X increase across all AMEX cards. )

Right, maybe I didn't type it out clearly enough to mean what I meant. The BC would have a CLI request available on day 61 and then again 6 months from that. The BCP would have another CLI available 6 months from its last 61 day CLI.

I was confused by the question of which one do I focus more on? I naturally assume most folks would pay attention to when each of their cards are eligible for CLI and apply for it at said time. (I guess reading it back now, do you mean focus more of the spending on the BC? I just assumed you would do that to meet the minimum spend before the 5% kicks in.)

Re: Not so YAY! for AMEX Blue Cash approval

Kenny — Tue, 15 Apr 2014 18:32:35 GMT

Ok wow, just re-read the entire 3x CLI guide! LOL I clearly didn't understand that it was 6 months period on all Amex.. not per card.

Learning a bunch today!

Re: Not so YAY! for AMEX Blue Cash approval

gdale6 — Tue, 15 Apr 2014 18:35:17 GMT

@Fico2Go wrote:
After weeks of preparing my scores and util the moment of truth came yesterday. After multiple unsuccessful attempts to PC my BCP to the BC I pulled the trigger and apped for the AMEX BLUE CASH for the 5% rewards. Sadly to say I was only approved for $2000.

Congrats

Re: Not so YAY! for AMEX Blue Cash approval

Anonymous — Tue, 15 Apr 2014 18:49:00 GMT

Which to go for depends on your planned usage levels. If you can get $6K after your next CLI, that is a sort of useful amount on the BC. If you are willing to wait on the BC, you can take the CLI on the BCP, and then transfer when available. The thing to remember is the $6.5K per year requirement on the BC, if you cant easily meet that because of the low CL it may not be worth using until the CL is up.

Re: Not so YAY! for AMEX Blue Cash approval

OptimalCS — Tue, 15 Apr 2014 18:52:19 GMT

congrats!

Re: Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 19:00:01 GMT

@gdale6 wrote:
@Fico2Go wrote:
After weeks of preparing my scores and util the moment of truth came yesterday. After multiple unsuccessful attempts to PC my BCP to the BC I pulled the trigger and apped for the AMEX BLUE CASH for the 5% rewards. Sadly to say I was only approved for $2000.

Congrats

Thanks Gdale. $2000 CL is a bit low but 3 AMEX approvals in 4 months keeps me in the game.

Kenny, yep. I've already used up my 61 day 3CLI so no matter how many AMEX cards I app for in the future, there will be no more 61 day increase again. My next 3X eligibility will be in August 2014. Any CLI request will be 6 months from the most recent increase.

Re: Not so YAY! for AMEX Blue Cash approval

newUser0 — Tue, 15 Apr 2014 19:05:12 GMT

I got my card yesterday, with a low limit of $1K.

Here are my stats - Approved for Amex Delta with $18K , PRG (Says can use upto $35K).

I planned to do MS on this card, but however, Not sure, if this can be more effective now.

Re: Not so YAY! for AMEX Blue Cash approval

Fico2Go — Tue, 15 Apr 2014 19:08:23 GMT

@Anonymous wrote:
Which to go for depends on your planned usage levels. If you can get $6K after your next CLI, that is a sort of useful amount on the BC. If you are willing to wait on the BC, you can take the CLI on the BCP, and then transfer when available. The thing to remember is the $6.5K per year requirement on the BC, if you cant easily meet that because of the low CL it may not be worth using until the CL is up.

LTLurker, three points.

1: The 6.5K initial spending can be completed in one month's time for me.

2: I've already maxed out on the BCP's $6000 supermarket limit.

3. My next eligibility date for CLI is August 2014.

Seems waiting to 3X the BCP is the best strategy but I don't like to max out my CL on the new BC more than twice a month.

Re: Not so YAY! for AMEX Blue Cash approval

Anonymous — Tue, 15 Apr 2014 19:11:06 GMT

@newUser0 wrote:
I got my card yesterday, with a low limit of $1K.

Here are my stats - Approved for Amex Delta with $18K , PRG (Says can use upto $35K).

I planned to do MS on this card, but however, Not sure, if this can be more effective now.

If you value your other Amex cards, I would not recommend doing MS on a $1K card, too much risk for too little gain.