AMEX Card with High Starting Limit (SL)

[IrishPM]

I have the BCP card and love the cash back rewards. I first applied and was approved with a $6,000 CL but with regular use over a 6 month period and paying off the balance each month they rewarded me with a CLI to $17,100. My revolvers include the Starwood, Hilton Ascend, Platinum Delta Skymiles and the regular Platinum charge card that I use like a debit card for small purchases since it has to be paid in full each month. 

[NRB525]

There should be no difference in AMEX UW across their cards.

With AMEX the CLI you start with is only a suggestion. As you know, the build from there is arguably easiest of all banks, it is all up to the cardholder how that grows.

TCL= Total (aggregate) Credit Lines

[Anonymous]

Short answer.  Magnet.  Read the 3x thread for CLIs and your limit will go as high as your income can take you.

[AverageJoesCredit]

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@longtimelurker wrote:

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@Remedios wrote:

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@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....

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Utilization padding. OP has been on this quest for a while now. Don't you read every thread???  

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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)

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Lol, with big brother everywhere dont be suprised to find yourself on a list for above statement. Stick to bashing 1.5 % cards, that side business is akin to going for a Credit One over a Capitol One card

[longtimelurker]

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@AverageJoesCredit wrote:

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Lol, with big brother everywhere dont be suprised to find yourself on a list for above statement. Stick to bashing 1.5 % cards, that side business is akin to going for a Credit One over a Capitol One card

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 You need a high reward/high risk analogy, (such as big app spree for high SUB cards)  whereas credit one /capital one is um, something else.....

I've decided to moderate my criticism of the Cash Magnet, on the grounds that if people did app for it, nothing can be done.   Oops, did it again.

[FinStar]

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@longtimelurker wrote:

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@AverageJoesCredit wrote:

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Lol, with big brother everywhere dont be suprised to find yourself on a list for above statement. Stick to bashing 1.5 % cards, that side business is akin to going for a Credit One over a Capitol One card

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 You need a high reward/high risk analogy, (such as big app spree for high SUB cards)  whereas credit one /capital one is um, something else.....

I've decided to moderate my criticism of the Cash Magnet, on the grounds that if people did app for it, nothing can be done.   Oops, did it again.

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[Remedios]

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@longtimelurker wrote:

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@AverageJoesCredit wrote:

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Lol, with big brother everywhere dont be suprised to find yourself on a list for above statement. Stick to bashing 1.5 % cards, that side business is akin to going for a Credit One over a Capitol One card

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 You need a high reward/high risk analogy, (such as big app spree for high SUB cards)  whereas credit one /capital one is um, something else.....

I've decided to moderate my criticism of the Cash Magnet, on the grounds that if people did app for it, nothing can be done.   Oops, did it again.

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It would be just peachy if you'd refrain yourself from calling anyone stupid. 

Bloviating and quoting Britney Spears aren't against TOS, so you're good there. 

[K-in-Boston]

Cash Magnet is not exactly the greatest cash back card in the world, but there's usually a welcome offer and Amex Offers to make up for that, at least to a point.  It can also be product changed later to a BCE or BCP.  It may not be the right card for some of us, but for some it can be very good, as well as being an entry point into the world of American Express.

[Pikaboo-icu]

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@K-in-Boston wrote:

Cash Magnet is not exactly the greatest cash back card in the world, but there's usually a welcome offer and Amex Offers to make up for that, at least to a point.  It can also be product changed later to a BCE or BCP.  It may not be the right card for some of us, but for some it can be very good, as well as being an entry point into the world of American Express.

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It looks darn good too lol.

My husband keeps trying to get me to take the card since I'm preapproved..

I keep teaching him about credit and why another card is the LAST thing I need right now. 

[HeavenOhio]

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@seattlecredit08 wrote:

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As for curiosity around utilization padding, perhaps it also stemms from being over-worried.... In these uncertain times, what if, what if...

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Here you're describing a backup card, which makes sense and is a reasonable motivation for wanting a high limit. A card could go south, either momentarily (e.g. a terminal balking), for a few days (e.g. a fraud situation), or permanently. In a situation like that, you want to be able to pull out another card and hit the ground running with minimal disruption.

With backup cards, it's possible that the rewards structure might be less than ideal, but you'd have your limit to keep you from being totally up a creek. AMEX is good in this situation because they give out high limits without necessarily requiring a lot of spending. What keeps AMEX from being ideal is its acceptance rate.

I'm unimpressed by total credit limits, though. If math would allow me to have four 15k cards and a total credit limit of 40k, I'd be happy. Being able to work within the 15k on an individual card is what's important.