Two business card approvals: CitiBiz AA Platinum + Amex BBP

[Anonymous]

So I'm really no longer in the garden since I decided to fire Chase this year and not aim for C$R.  But I also don't really have any more need for personal credit but started a new business plan in January and decided to start working on feeling it out now.  

Apped as sole proprietor to get some SUB deals I found online:

• Amex BBP -- instant approval for $5000, which is sad but I do have my next 3X CLI coming July 2 so I'll go for $15,000 here instead of a useless $18,000 on BCP which gets only $500/month of love.
• CitiBiz AA Platinum -- instant approval for $14,000 which was a bit of a surprise.

I actually have about $20,000 of gear to buy for this new business plan (I'm retired now, have the cash in the bank) so want to use that to maximize my sign-up bonuses on business cards that I will use for sure as this plan comes together.  The merchant I'm buying my hardware from will let me split payments across as many cards as I want, which is a fantastic way to use business credit to get some things going and pay off quickly.

Not sure what else to go for -- no inquiries came up yet which is very surprisingly but I'm sure they'll pop up in the next 24-48 hours.  

One question:  I created a new Amex account for the biz card without realizing I might have been able to use my personal login.  Was this a mistake that I need to address, and if so, how?

Kinda wishing I had another biz card to app for but don't have any relationships with other banks yet, so not sure where else to look really.  No accounts with BoA so not going that way, US Bank gave me all of $500 on Cash+ back in October so not sure I want to deal with their business folks.

TU is at 765 now, EX at 712, EQ is 722.  Utilization is $3 on one account, expecting to be pushing close to 800 around January or February or so -- AAoA dropped down below 2 years which is holding me back til it ages back up.

Can't believe last year I had 520 scores, lol.  Now up to $40,000 personal CL, and $19,000 business CL.

[Anonymous]

My wife did that before. All you have to do is call the number on the back and let them know you want the card added to your already existing login.

You could try to log in now and go to settings/card management/ add a new card and see if you can add your self.  If you do, then you just call and have them delete the new account log in.

[Anonymous]

Good to know, thanks!  I'll deal with it tomorrow and report back!

Happy to get in with Amex BBP because I also have the Platinum Schwab so that's 2.5% general spend and on this new business idea alone I bet I can hit that $50K cap on 2MRs.  

[Anonymous]

The current bonus is good!  Maybe later on you can get the AMEX Simply Cash ($0 AF) for 3x on the categorie of your choice.

[Anonymous]

I eyeballed that one, too, but the BBP just called to me because of it being superior to almost all other general spend cards I have.

I'm going to hold off on any more Amex until my 3X CLI comes around July 2nd and then make a decision based on what they do.  I'm hoping to go from $5K -> $15K on the BBP but it won't help prybar since it doesn't report personally, and honestly I'm getting bored with these 3-4 figure CLs I have so lots of account closures going to happen this year over time.

[Anonymous]

Shouldn't be a problem getting it to $15k

[Anonymous]

Yep I'm not worried.

Something someone mentioned on another forum: maybe I should do 3X CLI on BCP ($6000->$18000) and then transfer one-way from personal CL to business CL.  I only use BCP for $500 a month, never more, ever.  

Anyone ever do something like this:

1. CLI personal $6000->$18,000
2. Transfer say $13,000 from personal to biz ($18,000 becomes $5,000; business becomes $18,000 from $5,000).

Not sure if this is a good idea or not.  I could definitely use $15,000 on a biz line and would hate to be stuck with $18,000 on BCP.  My biz spent could be as much as $20,000 in one pop once or twice a year.

[simplynoir]

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@Anonymous wrote:

Anyone ever do something like this:

1. CLI personal $6000->$18,000
2. Transfer say $13,000 from personal to biz ($18,000 becomes $5,000; business becomes $18,000 from $5,000).

Not sure if this is a good idea or not.  I could definitely use $15,000 on a biz line and would hate to be stuck with $18,000 on BCP.  My biz spent could be as much as $20,000 in one pop once or twice a year.

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Yes, that's actually what I was going to suggest if you put little spend on the BCP. AMEX allows credit lines transfer from personal to business so if you need access to a bigger credit line that's what I would do. Just as an added note they won't do business to personal credit allocation but sounds like that won't be an issue to you.

[Anonymous]

Thanks for confirming that -- that's in fact what I'll do.  The BCP gets $500 per month, every month, with almost no variance whatsoever.  

A few follow-up questions:

1. What's the smallest CL I could transfer down to on BCP?  $2000 would be more than enough.
2. Assuming I get approved for a CLI increase, how fast after approval can I transfer the CL?

Appreciate the responses!

[simplynoir]

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@Anonymous wrote:

Thanks for confirming that -- that's in fact what I'll do.  The BCP gets $500 per month, every month, with almost no variance whatsoever.  

A few follow-up questions:

1. What's the smallest CL I could transfer down to on BCP?  $2000 would be more than enough.
2. Assuming I get approved for a CLI increase, how fast after approval can I transfer the CL?

Appreciate the responses!

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1. With the BCP my guess would be $1000 left on it (maybe $500 YMMV) so leaving $2000 on it is more than fine.

2. That same day once your account reflects the new credit line.