AMEX Strategy

[lmsmedley]

Have had an Amex Blue Business Plus for several years.

Credit Line of $50,000.
Ran up to $36,000 on a 9.9% promo APR, which is about to expire.
Currently paid down to $6,000 and about to pay it down to zero.
Want to apply for Amex Blue Business regular card.
Get approved, transfer most of the Plus credit line to the new card at 0% promo for 12 months.
Questions:
1) Will Amex even permit this?

2) How long after I pay it off can I apply for the new card?
(FICO 766)
Thanks!

[MarkintheHV]

I did a similar thing.  I had a bunch of CL over my my AmEx Delta Plat.  I wanted the 0% for 12 months, so I got the BBP and they gave me something like a 5k CL, so I transferred another 5k over from my Delta Plat, and made the purchase.  

With AmEx you can transfer CL once every 30 days.  As far as applying a new card I believe its 2 cards every 90 days (correct me if I am guys).

[Blender]

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@MarkintheHV wrote:

I did a similar thing.  I had a bunch of CL over my my AmEx Delta Plat.  I wanted the 0% for 12 months, so I got the BBP and they gave me something like a 5k CL, so I transferred another 5k over from my Delta Plat, and made the purchase.  

With AmEx you can transfer CL once every 30 days.  As far as applying a new card I believe its 2 cards every 90 days (correct me if I am guys).

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He's asking about when to apply as it relates to carrying a balance. He mentioned he's had the BBP for several years already. 

@lmsmedley 

You can check Amex pre approval (no hit) page. You can apply now with a balance, although it 'could' influence your SL on the new card or You don't need to wait any amount of time once it's paid, it's just profile dependent and you should be g2g at 766. Good luck!

[SouthJamaica]

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@lmsmedley wrote:

Have had an Amex Blue Business Plus for several years.

Credit Line of $50,000.
Ran up to $36,000 on a 9.9% promo APR, which is about to expire.
Currently paid down to $6,000 and about to pay it down to zero.
Want to apply for Amex Blue Business regular card.
Get approved, transfer most of the Plus credit line to the new card at 0% promo for 12 months.
Questions:
1) Will Amex even permit this?

2) How long after I pay it off can I apply for the new card?
(FICO 766)
Thanks!

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1.  Since you're talking about business cards, this should be under "Business Credit".

2.  I assume by "Amex Blue Business regular" you're talking about the Amex Blue Business Cash?

3.  You could apply for the Blue Business Cash now if you like. No need to wait. In view of your plan, you probably should apply now, to start the waiting period running.

4.  Amex makes it very easy to move credit limits between cards; you can do it yourself online (Account Services > Payment and Credit Options > Transfer Available Credit to Another Card).

5.  I do not know how long the waiting period would be for the cards to be eligible for the transfer of credit limit, but I'm guessing 31 days.

[Rogue46]

Keep in mind you can only transfer from business to personal cards, Business to business and personal to personal 

You cannot transfer limits from personal to business.

[lmsmedley]

Thanks everyone!

[reluctantgarden]

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@Rogue46 wrote:

Keep in mind you can only transfer from business to personal cards, Business to business and personal to personal 

You cannot transfer limits from personal to business.

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In my experience, you can xfer from personal to business, but not vice-versa. Again, IME it might be because biz is a bit looser on SCLs and CLIs, and I've long wanted to move some CL from biz to personal but that's not allowed on their app tool. Maybe it is on live chat or call, but don't know.