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Credit Card Help

micvite
Regular Contributor

Credit Card Help

I have a few questions regarding my credit cards, specifically about my Amex gold that now has a preset spending limit from me being stupid around a year ago or so. I've finally started paying it in full and wondering what can be done to get it back to NPSL, the CSR always says it will automatically happen, but I'm wondering when if ever. Also if I apply for a PC to platinum would the SL remain? Apparently I have an offer to upgrade. What if I just applied for the platinum on it's own? Also if anyone has any tips on growing my credit score I'd greatly appreciate it. Currently working on getting my 2 store cards, my QS and my car care some CLI luv. Car care was recently downgraded to 250 from 500. I have about 30 odd inquiries in last 2 years from car buying, about 10 in the last year. Looking to rent an apartment in the next 6 months which will Ding all 3 reports as well as purchase another car. I also have a closed chase cc with a $3800 SL that I'm hoping they will reopen now that it is almost paid off, just waiting for statement to cut. Other than that my only negative remark is 30 days late on an old auto loan back in 02/18. Any tips would be greatly appreciated, working on doing AZEO, I typically put around 10-15k spend on my ccs each month. 

Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $4400
Citi DC: $4000
WF Propel: $2000
Amex BCED: $1000
Amex Gold: $2000
Cap1 QS: $1200
VS CC: $850
Kohls: $700
Synchrony car care: $800
4 REPLIES 4
Dumbee
Established Contributor

Re: Credit Card Help

The Amex would still have a preset if you upgraded it. I'd suggest going for a new application for a Platinum if you haven't received the bonus for it, best available being 100k pts + 10x grocery/gas + $200 home furnishing credits. The negative outlook is Amex is still probably keeping you in preset limits and/or denials, but if the card benefits you..

 

I don't think Chase will reinstate that account, esp. if it's been over 30-60 days since it's been closed and they revoked it. From what I've seen with grantor-closed Chase accounts, it's lowly likely that they'd reinstate and typically subject to a HP.

 

On the bright side you have a Discover and Propel cards, too, which are pretty great and have some growth potential.


Smiley Embarassed
Personal/40.15K Biz/23K POT/17K
Message 2 of 5
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Credit Card Help

The spending limit will carry over on an upgraded card. Unfortunately, depending on what caused it, it could be a very long time before they remove it, talking years here. You could definitely apply for a platinum outright, but the fact that they've taken AA to limit your spending will be a factor in your approval as they are already worried about your ability to repay them.




Message 3 of 5
micvite
Regular Contributor

Re: Credit Card Help

Thanks for the input, I already "knew" the answer, but wanted to confirm. The reason amex went on a preset limit was due to me not PIF every month, I started just paying the minimum as well as maxing out all of my available credit at the time (20k or so with the chase) as well as my scores dropping to mid 500s (the reason chase closed my account in the first place). That was in order to make some investments which ultimately paid off and I'm reaping 20-30k a month in passive income, but now I want to get my credit in order. 

Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $4400
Citi DC: $4000
WF Propel: $2000
Amex BCED: $1000
Amex Gold: $2000
Cap1 QS: $1200
VS CC: $850
Kohls: $700
Synchrony car care: $800
Message 4 of 5
micvite
Regular Contributor

Re: Credit Card Help

@Brian_Earl_Spilner @Dumbee sorry I couldn't figure out how to edit my post, but I wanted to mention I have PC offers for both amex gold to platinum as well as BCED to BC proffered. Also did some preapprovals and I'm pre-approved for another discover it and discover miles. Not really sure what the next steps are for me, I'd prefer to grow what I currently have rather than open new, but seems no one wants to give me a CLI (probably soft pulls haven't updated or they're just wary since I've just paid off all my balances). I'm thinking next steps would be pick a card, put all my spend on that and basically spend 3-4x my SL every month and PIF for 3-6 months and AZEO? But please advise!

Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $4400
Citi DC: $4000
WF Propel: $2000
Amex BCED: $1000
Amex Gold: $2000
Cap1 QS: $1200
VS CC: $850
Kohls: $700
Synchrony car care: $800
Message 5 of 5
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