AmEx Charge Cards Approval Odds + Two Quick SUBs w/o Getting Canceled

[User1123932]

Sorry for the long post. This may be simple nonetheless, and hopefully I've just answered any relevant questions in advance.

TL;DR:

I have a ton of unplanned organic spend all of a sudden, and I hope to leverage that to open AmEx Platinum+Gold and get the SUBs right away, on top of some others that I've already gradually opened and racked up. What could possibly go wrong? Pointers welcome.

Intro:

I have an interesting situation making me spend a lot more than I could have foreseen a few months ago. It's all organic, and about half of it is reimbursable via insurance (medical + real estate), while the other half is just taxes to the IRS. This all seems like a good opp to pick up a bunch of juicy SUBs currently available, and I've already gotten a start on that.

Background:

I've opened 3 cards in the last 6 months (CSP@$30K, Venture X@$30K, Citi Premier@$11K), and now I'm seriously considering NPSL charge cards from AmEx, given the impressive SUBs that they're offering now: Platinum for 150K MR+extra 9X dining for 6 months, and Gold for 90K MR. I already have the first two SUBs knocked out. I can easily hit the qualifying spend in April for Premier, Platinum, and Gold, given the deadlines for my taxes and renovations.

I opened the CSP in October, Venture X in December, and Premier last week. Too bad I knew about the 80K TYP SUB offering before it went away in January, but I thought then that Premier/TYP was a bad fit for me and that I wouldn't have enough spend to qualify for the SUB. Then I got a bunch of surprise expenses, and I now see upon closer inspection that Premier+TYP actually can be decent for my use case. That's life.

Questions for getting the accounts open:

Is there anything I should worry about if I apply for AmEx Platinum and AmEx Gold? Do I need to wait a certain amount of time after my last card opening with Citi? Should I double dip with AmEx for Platinum and Gold, or space out the apps?

For some more background relevant to opening, all of my scores are solidly over 800 and have been for 8+ years IIRC. I always PIF when due, unless I get a good 0% offer, which I have not had for a while.

My only other AmEx card is a revolver (BCP) that I've had for over a decade, and which I often max out the $6K reward limit on each year (+other offers). I have never had any NPSL charge card with AmEx in the past. My total credit from revolving credit lines is just over $200K (consistently 1%-3% utilization), with annual income consistently around $300K. Knowing AmEx, I'll probably just stick to reporting what can easily be verified with my latest tax transcripts, in case they want more documentation (it should be more than enough).

Question for keeping the accounts open, and for getting+keeping the SUBs:

If I open both AmEx accounts and then right away charge $7K on each/$14K combined, is that going to get me shut down? Is there a better strategy?

The tax deadline is approaching, and I still have to pay Uncle Sam somehow, so it'd be nice to reap some rewards from that. Assuming no problems putting a tax payment on each AmEx card like that, say $8K Platinum and $6K Gold more than qualifying for each SUB, I could also knock out the $4K requirement on the Premier in April with a single purchase for home improvement. Hopefully none of that looks suspicious enough to put me in someone's dog house.

If it would help, I may be able to reduce the card payments for taxes so they fall short of the SUBs and qualify for the SUBs on other organic spend, maybe filling the rest with a bank draft and avoiding the interchange/convenience fees (<2%) for card payments. I believe the IRS only allows 2 card payments per person per tax year, for individual taxes without repayment plans.

Assuming all goes well, hopefully I'll keep the SUBs free and clear after the first statement cycle. Later this year, I hope to downgrade the BCP to Everyday or comparable no-fee MR card by 2 months before the AF comes due in the BCP. Longer term, I hope to downsize my work, which may downsize my annual income. Hopefully that doesn't bring lower limits or closures of my revolvers with high-ish SL ($30K-$40K), in light of my total available credit.

Bottom line:

I hope to have at least the Platinum open by the end of this week and Gold by early next month, maybe unless anyone recommends otherwise (double dip, or forgoing an account and leaving some SUB on the table in hopes of a better one later).

Any tips are welcome. Thanks in advance!

[FinStar]

A couple things:

Since you're currently an AmEx cardmember, you can always check to see if you are pre-approved (while signed in) by clicking 'Apply' for either Platinum and/or Gold. If results display you're pre-approved, then it should be no issue obtaining both cards. Both can

What do you plan on doing with both Platinum + Gold after the first year?

Assuming you'd be approved, and depending on AmEx internal factors, I would be cautious on the amounts you place on either card from the get-go. Chances are that if you can't be approved for the respective expense amounts, you can always contact them to prepay so they can approve the charges.

[User1123932]

---

Wow, thanks for this quick reply

@FinStar wrote:

Chances are that if you can't be approved for the respective expense amounts, you can always contact them to prepay so they can approve the charges.

---

OK, thanks. I didn't know about the prepayment options. I'm already good for the cash but just want to funnel it through a card to get some rewards while I'm at it.

---

@FinStar wrote:

What do you plan on doing with both Platinum + Gold after the first year?

---

I actually expect to keep these at least two years. I would have already signed up for Gold a while ago if I had known about the low reward limits on the BCP 6%CB and the overall higher value of the Gold for me. If I spend most of my time in the US, with supermarkets and Uber, keeping the Gold is a no-brainer. If I spend more time abroad, I may drop the Gold for the time being and use Citi Premier+CSP for food if I don't have enough dining spend.

Platinum I may actually keep longer. Then again, in 2 years, I may consider dropping it for a time, freeing me up for the Charles Schwab version if that still has a decent SUB and partial AF bonuses for their brokerage holdings.

If I'm thinking of canceling either the first Platinum or Gold, I would consider talking to someone at AmEx who may offer a retention bonus, but I would not be bothered if they don't. I would not risk canceling either card in just one year. I would still be sure to have at least one MR card open to keep any MR points that I may still have.

---

@FinStar wrote:

Since you're currently an AmEx cardmember, you can always check to see if you are pre-approved (while signed in) by clicking 'Apply' for either Platinum and/or Gold. If results display you're pre-approved, then it should be no issue obtaining both cards.

---

OK; follow-up question: if I do that, does that open an application that might fall short of the same SUBs? Or is it just to check approval odds from AmEx based on what they have of my credit reports, then apply separately using referral links in a separate browser session?

The SUBs I'm thinking of are from specific referral links, which should still be good for a while longer. I've recently received some mailers from AmEx (before and after my latest apps) with slightly less-generous SUB offers for Platinum and Gold, and they probably expired by now. But I assume the recent mailers mean that I would be pre-approved in some capacity.

If it helps, Citi's HP already shows in Experian, which I believe AmEx will check. Only the HP shows, not any of the account details yet. Basically showing 3 HPs and 2 new accounts in the last 6 months and in the last 2 years. If I can open these 2 AmEx accounts, I assume that'll put me at 5/24, not that I plan to get any new Chase cards soon. Hopefully I can coast with these SUBs through the end of next year and not have to spend like April 2022 again!

Thanks again for the helpful responses.

[FinStar]

---

@User1123932 wrote:

---

Wow, thanks for this quick reply

@FinStar wrote:

Chances are that if you can't be approved for the respective expense amounts, you can always contact them to prepay so they can approve the charges.

---

OK, thanks. I didn't know about the prepayment options. I'm already good for the cash but just want to funnel it through a card to get some rewards while I'm at it.  Yes, they can be flexible if these are your first charge cards with them. Typically, it's best to call them when you anticipate to make any large transaction(s) to give them a heads up and provide you with the option of pre-payment so the transaction can still go through and you can still earn the SUB. You may need to repeat the same step for the Gold Card if you are splitting large transactions that could potentially get flagged. This way, you're covered and algortihms can eventually learn your spending & payment patterns.

---

@FinStar wrote:

What do you plan on doing with both Platinum + Gold after the first year?

---

I actually expect to keep these at least two years. I would have already signed up for Gold a while ago if I had known about the low reward limits on the BCP 6%CB and the overall higher value of the Gold for me. If I spend most of my time in the US, with supermarkets and Uber, keeping the Gold is a no-brainer. If I spend more time abroad, I may drop the Gold for the time being and use Citi Premier+CSP for food if I don't have enough dining spend.

Platinum I may actually keep longer. Then again, in 2 years, I may consider dropping it for a time, freeing me up for the Charles Schwab version if that still has a decent SUB and partial AF bonuses for their brokerage holdings.

If I'm thinking of canceling either the first Platinum or Gold, I would consider talking to someone at AmEx who may offer a retention bonus, but I would not be bothered if they don't. I would not risk canceling either card in just one year. I would still be sure to have at least one MR card open to keep any MR points that I may still have.

Sounds like you have a good plan. The 2 year plan is viable, this way AENB doesn't view you as a churner and somehow may flag your profile for any potential (or future) SUBs on other cards if they detect both accounts get downgraded (or closed) around the same time.

---

@FinStar wrote:

Since you're currently an AmEx cardmember, you can always check to see if you are pre-approved (while signed in) by clicking 'Apply' for either Platinum and/or Gold. If results display you're pre-approved, then it should be no issue obtaining both cards.

---

OK; follow-up question: if I do that, does that open an application that might fall short of the same SUBs? Or is it just to check approval odds from AmEx based on what they have of my credit reports, then apply separately using referral links in a separate browser session?  This is just to check the odds. I would apply through the original source so you can receive the targeted SUB vs what AENB may offer on your profile. Often times, the SUBs elsewhere are higher or more lucrative. Like resy.com's exclusive offers, for example.

The SUBs I'm thinking of are from specific referral links, which should still be good for a while longer. I've recently received some mailers from AmEx (before and after my latest apps) with slightly less-generous SUB offers for Platinum and Gold, and they probably expired by now. But I assume the recent mailers mean that I would be pre-approved in some capacity. To some extent, yes. Hence the reason to check AENB first, if you wish to do so.  Otherwise, if you are confident of approval odds, just use your referral source(s)

If it helps, Citi's HP already shows in Experian, which I believe AmEx will check. Only the HP shows, not any of the account details yet. Basically showing 3 HPs and 2 new accounts in the last 6 months and in the last 2 years. If I can open these 2 AmEx accounts, I assume that'll put me at 5/24, not that I plan to get any new Chase cards soon. Hopefully I can coast with these SUBs through the end of next year and not have to spend like April 2022 again!

Thanks again for the helpful responses.

---

See responses above @User1123932 

And, definitely let us know how it turns out for you!

Good luck.

[jcooks]

With that high of organic spend coming up, have you thought about a single card that requires a higher spend?  I had a big expense ($13k) and I opted to open up an Amex Business Platinum.  Reason for that is, without that big expense, I wouldn't have normally hit that SUB.  It was $15k spend in 3 months.  The good thing about it is it has a 0% APR for 12 months with POT if you prefer to spread out payments.  Doing that, leaves me open to getting the Personal Plat SUB in the future. 

[User1123932]

---

@jcooks wrote:

With that high of organic spend coming up, have you thought about a single card that requires a higher spend?

---

I think Chase has an offer for 150K United Miles with $20K spend in 6 months? I do fly United a lot (more than I'd like), but that still seems like not a great value compared to any of the other available SUBs, let alone their combined value.

---

@jcooks wrote:

I opted to open up an Amex Business Platinum.  Reason for that is, without that big expense, I wouldn't have normally hit that SUB.  It was $15k spend in 3 months.  The good thing about it is it has a 0% APR for 12 months with POT if you prefer to spread out payments.  Doing that, leaves me open to getting the Personal Plat SUB in the future. 

---

OK, I will have to give the AmEx Business Platinum a closer look now. The latest SUB offers are substantial (120K-150K MR), and the rewards are in line with my usual spending (unlike the Equinox/Wal-Mart/Saks perks on the personal side). I had not given Biz Plat serious thought before, if only because I do not have any kind of business income. I have never had a business credit/charge card. While I used to be self-employed as an independent contractor (sole proprietor) with sometimes decent 1099-MISC income (nothing near enough for an AmEx SUB), those days are long gone by now.

These days, I bring in significant income managing my own investments, but there's presently no element of selling goods or services to third parties in exchange for payment. I have to agree that I am in a similar situation with $14K-$20K in a single month (I've had whole years where I spend less than that, living in a spendy city, no less), and I may not have a chance to generate this high of an organic spend rate in the future, but I could still easily qualify for the personal card SUBs whenever. I would prefer not to have five new trade lines open in as many months, so a one-and-done with the Biz Plat would be easier on my credit overall.

Some follow-up questions:

If I apply for the Business Platinum with total income of $300K and business income of $0, would that likely get flagged or denied?

If I get denied for Business Platinum, would that hurt my chances of approval for the personal Platinum+Gold cards in the same week?

If my personal income decreases significantly in the future, without additional "business" income, could that also be an issue for my personal and/or business tradelines then?

If I get approved for Business Platinum and rack up the SUB now, then that would be great, but could it also be a bigger hassle later if I want to put it in the name of a real business that I may start in the future (say, an LLC in another state from where I reside)?

@jcooksthanks for this food for thought. I'll have to delay my apps a few more days, but hope it's worthwhile in the end

@FinStarthanks also for all of the above. I may still apply your advice, either now or later. If it works for me to get the Biz Plat as suggested above, I may still get to follow a similar course of action next year or later with the personal cards, and possibly more spread out between Platinum and Gold.

There are still a few weeks before the payments are due, so I'll hold off for a few days in case anyone else has other input. TIA!

[jcooks]

I would recommend opening up a new post in the business forum section for that question. 

[FinStar]

---

@User1123932 wrote:

@FinStarthanks also for all of the above. I may still apply your advice, either now or later. If it works for me to get the Biz Plat as suggested above, I may still get to follow a similar course of action next year or later with the personal cards, and possibly more spread out between Platinum and Gold.

There are still a few weeks before the payments are due, so I'll hold off for a few days in case anyone else has other input. TIA!

---

@User1123932- personally, I would go with your original plan, but you can decide things after crunching some numbers to determine which path yields a better return for you (benefits & MR-wise). And, yes, any business credit discussions, suggestions, etc., are suited for the Business Credit subfoum.

[User1123932]

Just a quick update on this thread: thanks again to all who replied here. All replies were extremely helpful and educational, at least for me. Sorry for the delay, but I just wanted to make sure that I ended up securing all the AmEx bonuses discussed here. I got approved for two cards and secured both SUBs (and then some)! The replies really got me to study up, think hard, and come to the best decision, one that I had not even considered beforehand. More kudos @jcooks !

Specifically, I did end up going down the rabbit hole of business credit, and it turned out that having a business (low-maintenance passthrough entity) was the right move for what I've been doing, and that setting it up in April, along with a business checking account and business charge account (AmEx Business Platinum) in April, were all the right moves at the right times. I'd been on the fence about those action items for a while, but I didn't know enough about how to get started. Turns out that this forum (including the Business Credit subforum) was a key component to help me figure out what I needed then.

For BizPlat, AmEx was helpful with completing the application, also quickly completing a few extra steps to verify the new business entity to get approved. Several weeks after getting the BizPlat and quickly knocking out that SUB with huge bills for the biz and for taxes, I then got the personal AmEx Gold with the tail end of the unicorn SUB for 90K MR and $250 credits for all restaurants. Met the Gold SUB spend in about 3 months (thanks to inflation?) out of the alloted 6 months (similar personal Gold SUBs now have a much shorter time window). Waited for all the MR points to show up in my account--it was a lot quicker than I was told to expect them, including for some other special offers on the Gold card paying extra MR points.

So all's well in my AmEx accounts for now. Another offshoot of this is that I will hold off opening any personal Platinum accounts for the foreseeable future, even with any AF discounts from brokerage firms. BizPlat has just the right perks for me to offset the AF, without all the personal Platinum coupons that I can't use at all or don't really value. Maybe if I need to churn a big SUB a few years later, I'll consider one straight from AmEx if not from one of the partners, but I think I'm set with MR points for a while now. Some of the point redemptions that I had been planning earlier now require a lot fewer points as it is, so I now have more surplus MR that I'll be happy to burn on some other travel soon after.

I appreciate the many cautionary tales on this forum, but I'm also glad to chalk up some more success stories for us to share in. Kudos to you all!

[FinStar]

As the OP has provided a detailed update on their successful approvals and SUB strategy, this thread is now locked and closed to new messages.