I have amex everyday 5k, spg 2k and BCE 17.1k. I previously had a PRG card that I closed after one year. I am considering going for a credit line increase on my everyday card. In june I will likely get rid of the SPG card (I may try to obtain the business version when the bonus goes up). At some point I will be closing my BCE card (its in SD now) and moving that line over to the everyday card. I do not want to set off any alarms with amex. How much of a credit line increase should I ask for on my everyday card knowin that I want to move that additional 17k over to it in the future?
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@red259 wrote:I have amex everyday 5k, spg 2k and BCE 17.1k. I previously had a PRG card that I closed after one year. I am considering going for a credit line increase on my everyday card. In june I will likely get rid of the SPG card (I may try to obtain the business version when the bonus goes up). At some point I will be closing my BCE card (its in SD now) and moving that line over to the everyday card. I do not want to set off any alarms with amex. How much of a credit line increase should I ask for on my everyday card knowin that I want to move that additional 17k over to it in the future?
*bump*
@Anonymous wrote:
@red259 wrote:
@red259 wrote:I have amex everyday 5k, spg 2k and BCE 17.1k. I previously had a PRG card that I closed after one year. I am considering going for a credit line increase on my everyday card. In june I will likely get rid of the SPG card (I may try to obtain the business version when the bonus goes up). At some point I will be closing my BCE card (its in SD now) and moving that line over to the everyday card. I do not want to set off any alarms with amex. How much of a credit line increase should I ask for on my everyday card knowin that I want to move that additional 17k over to it in the future?
*bump*
If you want to end up with a large CL, I might be inclined to go for say $35K on the BCE. This is just 2x, so isn't excessive. Then, when you move that to the ED, you have $40K, rather than going 3x on the ED, and ending up with $32K after the transfer.
Now, I didn't do this (although maybe I should have done). I have a BCE at $20K which is SD, and a BC at $15K (and an ED at $15K for that matter). I asked for a $40K CL on the BC, also planning to move most of the BCE over at some stage. Still in 4506-T processing, so don't know if it was a good strategy
Yea, I don't really need the largest possible credit line but my amex everyday is an active card for me and the 5k limit is annoying. I really don't want to trigger anything where Amex starts asking for paperwork. Its a hassle I don't want to deal with period. If I go for the increase to 15k on the everyday and then move over the 17k to the everyday card will the fact I am moving over one large credit line to another raise the possibility of amex wanting income verification or is it usually triggered by asking for increases in credit and not transfers of exisiting lines?
Also, I'm not sure how much of an increase I could get on my BCE. The card hasn't been used in like five months, so they may deny it on a lack of use argument.
@Anonymous wrote:Why not just keep the BCE since you have such a high limit on it and just go for the $15,000 on the ED provided you haven't had any cli's with AmEx in the last 6 months. And then just close the $2000 limit card.
You don't want to go over $25,000 with them and trigger an FR.
This is what I am considering doing, although I want to close the BCE eventually since I do not see any scenario where I will be using it again. It can go into the sock drawer but then I will have to worry about amex closing it randomly for non-use (not sure if amex does this but other issuers do), its a security risk and eventually I may want to go for another amex card and do not want to have too many open accounts with them when I do so. The other poster was recommending going for a 2x CLI on the BCE since that would keep me below the 25k, but when I consolidate the two cards would resulkt in a higher credit line all together on the everyday card. Whether or not transferring one CL into another CL for a super large CL would raise some questions from Amex is the one thing I am unsure of.
@thom02099 wrote:
@red259 wrote:I have amex everyday 5k, spg 2k and BCE 17.1k. I previously had a PRG card that I closed after one year. I am considering going for a credit line increase on my everyday card. In june I will likely get rid of the SPG card (I may try to obtain the business version when the bonus goes up). At some point I will be closing my BCE card (its in SD now) and moving that line over to the everyday card. I do not want to set off any alarms with amex. How much of a credit line increase should I ask for on my everyday card knowin that I want to move that additional 17k over to it in the future?
Look at it from the perspective of "what do you need" versus "what do you want" in the way of a credit limit increase.
Anecdotally, once you start pushing $25K CL, you're potentially going to trigger AMEX to inquire further about your finances. Yes, there are users, here and elsewhere, who've gone beyond that without an FR, but there are many others who get the FR at $25K. Since you stated you don't want to set off the alarms, it's your decision as to whether going over $25K is the risk you want to take.
Its not really clear to me whether amex will set off alarms for consolidating credit lines into one CL vs a straight CL increase over 25k.
Just an update. I ended up increasing my 5k amex everyday to 15k limit. I wanted the buffer of additional credit on this card, because it is an active card in my wallet and I will likely be getting rid of my 2k Amex SPG next month when the AF hits. I will hold on to my BCE for a few more months at least and then look to move that line over to my everyday card which would end up leaving me with only one amex. Hopefully, they will come out with a card that entices me to app in the future or maybe I will pick up some amex biz cards. A few points here just for anyone thinking about doing the CLI request. I was carrying a balance at the time I did the request (I'm on a 0%apr) which was utilizing about 20% of the overall credit line [this is fairly consistent for my credit use of the card for the last few months], I had no lates, make above minimum payments and have had the card for almost four months.