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I would love to hear feedback / recommendations on the following...
Background / Data Points:
AMEX Cards I am considering:
Question:
I will definitely share the results after I apply...
Thanks in advance!!
I think your starting limit will be about the same on any of those cards. For the record, I had two 10k cards in hand, and AMEX started my BCE at 15k.
The big thing to consider is whether you want to get into MR points or cashback. You won't be able to PC (product-change) an MR card into a cashback card, or vice versa.
Also, when did your score rise, and what was the reason? Because you already have AMEX cards, they might approve you based on an old pull.
Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
@longtimelurker wrote:Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
Utilization padding. OP has been on this quest for a while now. Don't you read every thread???
@longtimelurker wrote:Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
Great question!
I guess I view it as a semi-useless hobby...
So I am definitely aware that high TCL has limited utility in the real world...
As for MR vs. cash back, I already have a couple of good MR and cash back cards (perhaps not as good as 6% on groceries offered by BCP but decent-- PenFed, US Bank, etc.) so I am open to either... as long as I can maximize SL, of course...
And, of course, I will share my experience and my credit journey for what they are worth with everyone here...
Thanks!!
@Remedios wrote:
@longtimelurker wrote:Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
Utilization padding. OP has been on this quest for a while now. Don't you read every thread???
I READ every thread, but I am multi-tasking with my narco-terrorism business so I tend not to take it in..... (Probably should stop one or the other come to think of it.)
Utilization padding. Oh yes, along with the related AZEO, a "solution" in search of a problem. (Just pay early when strictly needed)
Utilization "padding" makes sense if you're looking at each card individually. You certainly want enough of a limit to support your spending on the card. It's makes a lot less sense to look at Card B as a way to offset utilization on Card A.
@Remedios wrote:
@longtimelurker wrote:Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
Utilization padding. OP has been on this quest for a while now. Don't you read every thread???
Ah yes the ultimate TCL quest Is this why every thread usually has a question about POI, I wonder?
@Remedios wrote:
@longtimelurker wrote:Just out of interest: what is the motivation for trying to optimize TCL? IMO, optimizing rewards is more important, which goes to the question of whether to go cashback or MR....
Utilization padding. OP has been on this quest for a while now. Don't you read every thread???
Actually, not exactly. Utilization padding is more of a big curiosity for me, what I would call a byproduct of my TCL "hobby." By the way, I first got the idea of this hobby from reading the legendary stories of TCL barons on this board...
So utilization padding is not my goal but more of a curiosity. I like to PIF everything and this is actually one issue I have with this hobby-- even with my modest TCL, I already have to manage a decently complex Excel...
As for curiosity around utilization padding, perhaps it also stemms from being over-worried.... In these uncertain times, what if, what if...
Thanks!!