Just to add to this discussion and reiterate that this is absolutely going to be a YMMV situation, here's a screencap from Reddit on those initially denied for SPG Luxury this morning.
I want told i was at the max number of cards with them when applying for the blue business plus. The rep told me if i canceled a card i could apply again. I finally canceled my Amex delta blue and was instantly approved with a $9k starting line.
5 revolvers is my current limit.
Had to close EveryDay to make room for my new Amazon Amex prime.
They reallocated the CL from the everyday and added 7K more as well.
Had to close EveryDay to make room for my new Amazon Amex prime.
They reallocated the CL from the everyday and added 7K more as well.
@Anonymous wrote: I can't see why a person wouldn't be able to have one of each product offered. If Company "X" ofers 8 products, but only allows you to hold 4. It just means the costomer will go elsewhere for the CC, which means lost revenue for Company "X".
True, but lenders want to limit their risk exposure when they lend money. Giving a customer 8 cards probably means a higher overall line of credit and higher exposure to default. Some lenders calculate it is better to lose the revenue than gain the increasing marginal rewards with wider risk exposure. I would imagine it is similar to how insurance companies calculate risk exposure when they write insurance contracts and determine premiums.
