I'd give it a few months after paying off the debt. But if you really need it sooner, roll the dice 
AMEX Gold (personal?) -- is it NPSL or were you given a spend limit?
Amex Business card -- what flavor? charge or credit, limit
..total of 2 cards from amex?
Paying (day(s)?) late once a year ago isn't a problem IMO, it could happen to anyone.
I was late on a Blue Cash Everyday payment (PIF) of some amount by a day. Paid the late charge since it was my fault entirely and consider it case closed. I think amex does also.
Obviously if it's late enough to show on the credit report then that's another story.
Was the missed payment a PIF or a monthly payment on a running balance?
A "kind of high balance" in relation to a limit of? ..or is the biz card also NPSL?
Do you use POT (the pay over time feature) on the Gold?
The balance you've been paying monthly on the biz card, minimum only or more for a year?
What amount of balance started off monthly payments?
Paying a balance over months is a card 'feature', so in and of itself it's not necc a red flag perhaps. Even less so I'd think if it's because of some sort of offer.
In a nutshell, a bit more info could help. EG: If it was $5k and you needed 12 mo to pay it back, it may be good to reconsider the annual cost just to have the platinum.
The payback from high $ travel spend is valuable for me, but most of the other stuff I don't use at all. If your brokerage is at CS, their platinum might be more desirable to you in two specific ways -- the guaranteed cash out value of MRs to Schwab and the appreciation bonus. Those 2 plus maybe some FHR bookings essentially null the fee for me some years. On 'off' years like 2025, I got the centurian & delta lounge + guests free and a decent pile of MR. Just hope it becomes reasonable to travel this year.
Hi @Outbackexplorer,
Thanks for the clarifications. Sorry I didn't/don't intend to grill you.
FYI: you can put basic info in a signature of all your posts automatically. EG: date card acquired, card name/issuer
Depending on the cirumstances which amex digested, and then decided to impose a limit for the gold can vary. If you got the gold while you had the amazon balance that may be what limited it.. or maybe part of what limited it.
If it's just a thin credit history and/or income is at a level they want to extend to oppurtunity, but then observe how you do. Kind of like training wheels.. safer for everyone -- shouldn't be a problem. Handle it well, call and ask them about NPSL possibilities in the future if you want. In time amex will feel comfortable.
The change from gold to green logic is a consideration too. I can see the logic to switch for various reasons. No matter the reason, -if- it was to retain MR points earned, then you might want to consider their Rewards Checking account to do that while you determine the way forward with cards if need be.
I didn't catch how long you've had the gold.. and at what point you changed it to green. May not matter to amex at all, people do that all the time. But if it looks like financial stress & fee reduction is the reason, you might want to just stick with the green, use the money they lend you, pay it back as you have been..for now. Let them see it was not anything to worry about. Then maybe approach them about a CLI or perhaps lifting that to NPSL, -or- inquire about PC it to the Platinum if that is useful. You may even get an offer for that. (I have upgrade to plat offers on my gold all the time despite having the CS platinum.. lol so much for AI at amex.)
It's good you're going to get the amazon paid down soon. Once amex sees that it will, if nothing else relax things all around.
From your last post however, I want to just add some comment. No judgement, just more of a heads up based on my incomplete understanding of the situation which your question lives in.
My advice about subs and so forth is be careful. The people who do a great deal of that trying to extract the most value I expect are very familiar with all related facets of credit, cards, card issuers and reports. They in some way are walking a fine line, except they probably can weather most problems that could happen.
I only say this because you have focused on subs here:
I actually would prefer the Schwab version (they're my main bank actually), but the SUB is so much smaller that it makes sense to just get the normal one and then later get the Schwab version sans SUB.
I got the Schwab version of the card due to the partnership and its' unique benefits. I did get a sub I think, but would have gotten this card with no sub. The fee is a non-trivial amount, but the card is non-trivial to me. I like NPSL & Amex is a good company providing that.
I question your logic on the SUB being a primary factor. If I want some tools and I can afford snap-on, that is what I will get. I am not going to get mac tools instead becuase there is a sale. There is no/few reason(s) to accept my second or third choice unless the 1st simply is not available for some reason. Obviously there are other considerations and circumstances.. Hopefully the example can suffice.
In relation to your desire for the platinum, might make more sense if that is the card you want to PC the green to it. If you really think the Schwab version is more valuable that objective may come later. (FYI: it's not possible to PC to a CS or MS platinum card)
I'm not sure exactly how much value I'll get out of some of the credits, but a decent amount of them I can make use of, especially with a little creativity. Should be very solid first year earnings at least with the SUB.
In relation to the platinum that seems like a somewhat fragile way to justify an $895 annual expense. As you've experienced, one or two unexpected things can turn the tables.
The pros at gaming the bonuses, miles and manufactured spend know the 'game' well and like to show off their skills. It -is- amazing. In my case, it's a job I don't want and probably would have a brain cramp trying to do it with their intensity and success.
