New Amex Card + CLI Strategy

[Anonymous]

I applied for the Schwab Investor Card last night and was subsequently approved for a $50,000 limit. I currently have a Blue Cash Preferred that has a $2,000 limit on it. The BCP had an original limit of $4,000 that I had increased to $12,000, then moved $10,000 of that onto a business card. So! Now the BCP has a $2,000 limit. Is the optimal strategy to transfer say, $10,000 from the new Investor Card to this BCP then request a 3x increase? If so, when is the ideal time to do so? The BCP has a CLI available in 2 days. If not, what is the optimal strategy? Thank you all - long time lurker, first time poster.

FWIW - FICO around 750 ish. Very high velocity in the past 12 months with around 11 cards. Income, if needed, is around 600k, though I applied with a 500k stated.

[coldfusion]

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@Anonymous wrote:

I applied for the Schwab Investor Card last night and was subsequently approved for a $50,000 limit. I currently have a Blue Cash Preferred that has a $2,000 limit on it. The BCP had an original limit of $4,000 that I had increased to $12,000, then moved $10,000 of that onto a business card. So! Now the BCP has a $2,000 limit. Is the optimal strategy to transfer say, $10,000 from the new Investor Card to this BCP then request a 3x increase? If so, when is the ideal time to do so? The BCP has a CLI available in 2 days. If not, what is the optimal strategy? Thank you all - long time lurker, first time poster.

FWIW - FICO around 750 ish. Very high velocity in the past 12 months with around 11 cards. Income, if needed, is around 600k, though I applied with a 500k stated.

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There's a risk in your strategy in that AMEX normally does not allow credit limits to be transferred out from a new card. 

I can't speak authoritatively in general about the likely outcome of a CLI request on a card that just had CL transferred to it although my sense is that a 3X boost based upon the updated CL wouldn't be likely. 

[Anonymous]

Thanks for your reply. I wasn't aware of such. Do you happen to know if a > 3x CLI is possible if it isn't your first and you've had a higher limit on the card in the past?

[Bizambish]

This is just my experience but I have gotten a 3X CLI on a card that I inflated the limit through a transfer. I made my delta plat 5K and then received 3X to 15K. However all of this was not nearly in as short a time period as you’re talking about.