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@Brian_Earl_Spilner wrote:
@Anonymous wrote:
@Anonymous wrote:Congrats on the CM approval. I received the same SL. Those lower SL's make it harder to coast to that SUB. It's like they want us to get a workout or something.
Thanks!
Yeah it’s a bit annoying that they gave me such a low limit but I can work around it. I’ll just move my utilities and groceries to the card. I’ll have it organically spent in 2 1/2 months.
The thing that’s obnoxious is that they want to see use but then they give me such a low limit. They hit me with a $1K limit last March too and I turned around and canceled it when Disco gave me a $7500 approval minutes later. I won’t cancel it this time but I don’t know how much they expect to gain from my spending habits with a limit I can’t do anything with.You can make a payment online 5 times a day once you pass your first 30 days. Until then you can call in a payment beyond your first. I move about $3k through my $1k card every month.
I mean I push payments so I’m not worried about that, it just seems like a waste of a 0% for 15 months intro APR is all. I have some major spending planned July/August that I guess is going to get split between Amazon and BBVA now.
@Anonymous wrote:
Congrats on the approval with them. It'll get big enough soon enough.
Awesome
Don’t the $1K cards usually get stuck for 6 months+ though?
Hey. You give it a go and it returned an approval nonetheless. Perhaps it can grow by leaps for you soon.
Congrats!
Congrats on the approval!
My BCP was opened with a $1k credit line in 2015 so I know first-hand how annoying it can be to put significant use through a low-limit card but it will eventually pay off. It took a while, but I eventually got my BCP to $10k before I closed it.
(Note that it will likely be easier for you to get CLIs than it was for me, since I had previous negative history with AMEX.)
Also, Amex is one of the few lenders that I allow to 'pull' payments, and it actually works quite well. I don't have it set to auto - I guess I'm a control freak, LOL - but as soon as I submit a payment manually they immediately make that amount available again for new purchases, which can come in handy if you're bumping-up against $1k.
Thanks UncleB!
I have heard that they do credit payments quickly. I will probably let them pull, the only reason I don’t let Sync do it is because I have to manage three different portals, it’s just easier to push from my bank.
As for increases, I know it will grow with time. I’m not in a huge hurry but it would be nice to be able to actually have a limit I can use to finance a purchase during the 15 months. Maybe I’ll get lucky and if I wait til 91 days they’ll give me a 3x CLI and I can use it for the holidays.
I guess we will see what happens. I don’t have any real dire needs right now so I’ll be patient with AMEX.
@Anonymous wrote:
Well I got the $200 SUB to pop so I went for it. Instant approval for $1K. I officially broke $60K total credit limits so I’m fine with it.
I had been getting the “up to $2000” verbiage but apparently I’m still too risky for them to give me that kind of limit 😂
@Anonymous wrote:Thanks UncleB!
I have heard that they do credit payments quickly. I will probably let them pull, the only reason I don’t let Sync do it is because I have to manage three different portals, it’s just easier to push from my bank.
As for increases, I know it will grow with time. I’m not in a huge hurry but it would be nice to be able to actually have a limit I can use to finance a purchase during the 15 months. Maybe I’ll get lucky and if I wait til 91 days they’ll give me a 3x CLI and I can use it for the holidays.
I guess we will see what happens. I don’t have any real dire needs right now so I’ll be patient with AMEX.
I pull payments into my Amex cards but I've never noticed that they immediately increase available credit by the payment amount, but I haven't paid attention as I've been fortunate to have very generous CLs from Amex. Their savings account works that way, as soon as you submit a pull transfer in they credit your balance by that amount for earning interest.
You don't have another Amex card you can transfer some CL over to CM? I'll probably app for CM this fall, just for the SUB & 15 months 0%, 1.5% rewards don't cut it for me, altho better than the MR points on my Everyday card for me s I don't travel. The 15 months 0% ends in July on my Everyday and if I get Cash Magnet I'll move the CL from Everyday and close it, but working the $250 SUB for upgrading my BCE to Preferred right now.
Congrats on your Amex Cash Magnet approval! Enjoy the SUB!