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AMEX Card with High Starting Limit (SL)

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Frequent Contributor

Re: AMEX Card with High Starting Limit (SL)


@HeavenOhio wrote:

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.


It's a very good question-- several very, very old negatives fell off resulting a big score jump.

 

And, yes, I 100% agree-- one has to be very careful about this--- frequently, AMEX underwriting will be 1 month or so behind.

 

I have been closely monitoring both my personal pre-approvals on AMEX website and spying on AMEX SPs on my Experian report (by the way-- there is a technique to do it online for anyone is interested...). Based on above data points, my best guess is that AMEX has already plugged in my new improved FICO score into its big AMEX Credit Brain.

 

Thanks!!

Message 11 of 34
Super Contributor

Re: AMEX Card with High Starting Limit (SL)

Well, since you have two MR cards, with substantial AF, my suggestion is to get the ED card. This gets you a revolver, no AF, no conflict with groceries MR earning on Gold, and the potential to get 1.2MR in general spend.

Hopefully you get a good SL, though the length of time with AMEX could be the most important factor.

Was there an answer to how recently your scores ramped up? That is relevant because as an existing AMEX cardholder, your next card is most likely going to use SP data. If that SP is (as commented above) when your scores were lower, the SL will probably be lower than it could be.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 12 of 34
Community Leader
Mega Contributor

Re: AMEX Card with High Starting Limit (SL)


@seattlecredit08 wrote:

@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... Smiley HappySmiley Very Happy

 

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!!


I am going to have to disagree based on 5-7 previous threads, except this thread is different because you've lifted TU restriction. 

I am not sure why you think you'd be safer in these "uncertain times" by having high unused SL. 

Those may be the first ones to go in case of any mishap. 

It would be a whole lot better if you stop thinking about it as a 'hobby' and view it as a financial tool. 

 

I would just like to add that those with  'legendary stories of TCL barons on this board' did not acquire them over night or in the course of a year. You said your oldest open TL is around a year old.

You're trying to move way to fast. 

 

Anyway , as always, good luck

 

 

Message 13 of 34
Frequent Contributor

Re: AMEX Card with High Starting Limit (SL)


@FinStar wrote:
Is this part of your total "domination" strategy for TCL?


I think "domination" is all relative... I come from very, very humble "credit beginnings"  Smiley Embarassed , so what may be my personal "domination" goals would be peanuts / cake walk for the legeds on this board ( @Mahraja , @Gmood1 and others here...)  

 

Thanks!!

Message 14 of 34
Community Leader
Mega Contributor

Re: AMEX Card with High Starting Limit (SL)

I give up 

Message 15 of 34
Moderator

Re: AMEX Card with High Starting Limit (SL)


@seattlecredit08 wrote:

@FinStar wrote:
Is this part of your total "domination" strategy for TCL?


I think "domination" is all relative... I come from very, very humble "credit beginnings"  Smiley Embarassed , so what may be my personal "domination" goals would be peanuts / cake walk for the legeds on this board ( @Mahraja , @Gmood1 and others here...)  

 

Thanks!!


@Remedios brings up a very excellent point OP.  I didn't achieve any of the ~$2.5MM (personal and biz) overnight and I am a high income earner/transactor.  A good, solid and flexible strategy is key.  Lots of other members with very high and seasoned portfolios like @Gmood1, @Ron1, @Mahraja, @CreditCuriosity, etc., had different strategies for such goals, but I can honestly tell you that it wasn't TCL "domination".  Sorry but that Dr Evil reference still plays in my head since you brought up the domination aspect of your hobby. 

 

Also, keep in mind the TCL risks associated with the 'hobby' and today's cyclic environment.  Of noteworthy, some of these other 'barons' as you call them, also lost a good chunk of their portfolios due to the aggressive nature of pursuing such goals, I can recall a couple of members whose AA resulted in the loss of their entire Chase and Barclays portfolios, others have lost vast amounts of TCL from Citi, AmEx, SYNCB, Comenity and so on.

Message 16 of 34
Frequent Contributor

Re: AMEX Card with High Starting Limit (SL)


@FinStar wrote:

@seattlecredit08 wrote:

@FinStar wrote:
Is this part of your total "domination" strategy for TCL?


I think "domination" is all relative... I come from very, very humble "credit beginnings"  Smiley Embarassed , so what may be my personal "domination" goals would be peanuts / cake walk for the legends on this board ( @Mahraja , @Gmood1 and others here...)  

 

Thanks!!


@Remedios brings up a very excellent point OP.  I didn't achieve any of the ~$2.5MM (personal and biz) overnight and I am a high income earner/transactor.  A good, solid and flexible strategy is key.  Lots of other members with very high and seasoned portfolios like @Gmood1, @Ron1, @Mahraja, @CreditCuriosity, etc., had different strategies for such goals, but I can honestly tell you that it wasn't TCL "domination".  Sorry but that Dr Evil reference still plays in my head since you brought up the domination aspect of your hobby. 

 

Also, keep in mind the TCL risks associated with the 'hobby' and today's cyclic environment.  Of noteworthy, some of these other 'barons' as you call them, also lost a good chunk of their portfolios due to the aggressive nature of pursuing such goals, I can recall a couple of members whose AA resulted in the loss of their entire Chase and Barclays portfolios, others have lost vast amounts of TCL from Citi, AmEx, SYNCB, Comenity and so on.


All excellent points!!

 

Just to clarify:

  • I never used the term "total domination" (correct, me if I am wrong, of course!)  I did use the term, in another post, "TCL domination." I think there is a big difference here...Smiley Wink  It's certainly flattering to know that someone else thinks so highly of my plans but personally I never had and don't have "total domination" ambitions...   By the way, I never got into Austin Powers' movies but always liked Dr. Evil memes!
  • I am fully aware of the dangers and pitfalls of trying to grow TCL too quickly. I think it took folks like @Mahraja about 2-3 years to get to their goals, and that's the most aggressive results with a lot of resources applied toward the goals. My goals are much, much humbler but my timeframe is still about 2+ years.
  • And BIG Congrats on achieving ~2.5MM TCL!! 
  • Last but not least, I really like these forums and the supportive community that was built over MANY YEARS... I have learned a ton and I hope to be able to contribute whatever I can as I move along my very own HUMBLE "TCL domination" journey (a.k.a. personal and business credit development - I like that actually much better)...

I hope this helps clear things up a bit...Smiley Tongue

 

Now back to the original question-- it appears that the consensus here is that AMEX UW algorithm determining SLs is most likely the same or similar for all AMEX revolvers (BCE, BCP, ED, EDP, Cash Magnet). If someone has a difference experience, I would definitely be very curious to know...

 

Thanks in advance!!

 

 

Message 17 of 34
Moderator

Re: AMEX Card with High Starting Limit (SL)

We're here to help and provide guidance as best as possible. Everyone encounters some pitfalls along the way, but if you take the great collective advice from those who have been there, you'll be surprised on how favorable the outcomes would be in your situation. Lots and lots of great advice on these forums.

Now, as far as the choices. Well, just yesterday I saw a 25K MR SUB offer for ED on incognito. But, since this is your potential first AmEx revolver, you can decide which best serves your needs in the interim. I try to maximize the actual benefits of the product beforehand when evaluating it as a whole, the CL is just icing. Believe me, at this stage of TCL if a lender approves me for $5K, for instance, I take it and run. Show me the bennies!
Message 18 of 34
Regular Contributor

Re: AMEX Card with High Starting Limit (SL)

Sorry but what does TCL mean?

Amex Gold (NPSL); Amex Green (NPSL); HH Surpass (36.6k); Amex BBP (27k); Macy's Store (20.5k); PNC CR (17.5k); B&H Payboo (16.5k); HSBC Premier WEMC (11k); Amazon Store (10k); AEO Visa (10k); GAP Visa (10k); HSBC Advance (7.5k); PNC Premier Traveler (5k); Discover It (4.2k); Nordstrom Store (4k); Apple Card (2.5k); Discover It (2.5k); Delta Platinum (1.4k); Charles Schwab Investor (1k); Amex Everyday (1k); BofA CR (1k); Citi TYP (1k); TJX MC (0.8k); Deserve Edu (0.5k)
Started collecting cards: Oct/2018
Inquiries: EX (25); TU (25); EQ (16)
Got all the cards I need, so all reports are frozen until Nov/2020 for Altitude Reserve or Amex Plat 100k offer
Message 19 of 34
Moderator

Re: AMEX Card with High Starting Limit (SL)

TCL = Total Credit Limit.

Not to be confused with the 90s group...TLC 😄
Message 20 of 34
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