AmEX & general CC question

Anonymous · ‎02-14-2008

DH and I are in the market for another CC. Long story short; we are building a house and don't get paid for materials until after installed, ie probably 2 months after paying for the items initally. So we are looking for a CC with 0% on purchases as an introduction rate and a large CL (10K+). I found AmEx Blue & Clear, Citi Plat &Diamond Preferred, Disney Rewards, HSBC MC and Chase Plat.

We both have excellent credit (me-765, him-785) We have several CC's that we don't use, one is a CC w/ 10.5K CL DH has had since he was 16 (we are 24) and another is our bank CC with 10K CL that we only use when we go somewhere that doesn't accept Discover. I figured it up and I think we have about 30K+ in CC CLs but only put about 2-3K on the Disc/MC per month and it gets PIF every month.

My plan was to talk to each of the CC's listed above and see what kind of CL they each can give us and then go with that one. Does anyone have a better or different idea?? Thanks a bunch

Anonymous · ‎02-14-2008

i really like my citi diamond prefered rewards.

i'd stay away from amex if you plan on revolving a balance at all, they are funny these days.

maybe try bank of america (they have a soft pull link, if you aren't opted out). i was just given 12k all of which i could deposit into checking for a 3 % bt fee at 0 % for 12 months and a 9.9 apr after the intro period. your scoes are way better than mine too.

Anonymous · ‎02-15-2008

bump

jsmith12345 · ‎02-15-2008

Citibank and Amex give generous initial credit lines. With your scores and the other 2 cards, you shouldn't have any trouble receiving a $10k+ line on a Citibank. I prefer the Citibank Dividend Platinum Select, but it's all personal preference. They do have a 0% BT rate that you can use a direct deposit to your account for. You can't really charge the items, but just move the cash into your account. If you plan to spend $10k you may want to push for at least a $20k line so you're not maxing your card. Let us know how it turns out and good luck with the house.

Anonymous · ‎02-26-2008

I had DH apply for the AmEx Blue last night and he got a $10,900 CL, 12 mo 0% APR on purchases, not bad but I will admit I was hoping for more. I applied for Citi Plat. Select, but it takes 7-10 days before I know the results of that.

Anonymous · ‎02-26-2008

Nice starting CL-

ashas wrote:

I had DH apply for the AmEx Blue last night and he got a $10,900 CL, 12 mo 0% APR on purchases, not bad but I will admit I was hoping for more. I applied for Citi Plat. Select, but it takes 7-10 days before I know the results of that.

Message Edited by Timothy on 02-26-2008 06:02 AM

Anonymous · ‎02-26-2008

ashas wrote:
I had DH apply for the AmEx Blue last night and he got a $10,900 CL, 12 mo 0% APR on purchases, not bad but I will admit I was hoping for more. I applied for Citi Plat. Select, but it takes 7-10 days before I know the results of that.

WOW, very nice, 0% on purchases for 12 mos!!!!!!!!!! Congrats!

Anonymous · ‎03-05-2008

well, I was approved for Citi Platinum Select this morning for $5000 for I'm assuming 12 mos 0% interest, but not positive as I only got a automated phone call and it only gave me my CL. So we got about what I was looking for $15K with 0% interest but between two cards, so not ideal.

Somone mentioned that AmEx is being funny about people revolving balances, but how is it fair to change APR if I make the minimum payment on time, isn't that the point of an Intro APR, to keep a balance but not incur any finance charges??

The next thing to think about is that we probably have to use the cards before getting a CLI in 6 mos (luckily about when we'll need the big CLs) but at the same time I don't want to stop using my Discover because of the Cashback. Anyone have any opinions on who gives bigger CLI Citi or AmEx?

Anonymous · ‎03-05-2008

That's the point at issue. Amex doesn't actually want you to carry a balance. If you carry any balance, it increases your risk of financial review. After review, they will let you maintain or decrease your CL, then I think the pressure is over. But, they still don't like revolvers.

Anonymous · ‎03-05-2008

ashas wrote:
Anyone have any opinions on who gives bigger CLI Citi or AmEx?

Amex, by far. They are very generous with CLIs, as long as you handle your card(s) well. Citi, on the other hand, is stingy regardless of how you treat them.

Regarding your question about Amex and revolving balances: yes they have a 0% offer, but they really don't like you to carry a balance from purchases for more than 3 months or so. If you have a BT intro offer, 6 months would probably be safe, but more than that is starting to push it.