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Got 7 to 10 day message reallocating limits between 2 cards

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Valued Contributor

Got 7 to 10 day message reallocating limits between 2 cards

I thought reallocating credit limits between Amex cards was easy move. I am going to close an Amex card next month so I thought I would reallocate all but 1000 of its limit to another card. And I got the 7 to 10 day message. The new limit would have been 45k.  Does this happen often?

More cards than I can mention in a signature.
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Super Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

Higher-AF cards have higher minimums, below which the CL cannot be reduced.

Amex also limits reallocations to one per 30 days per customer.

And (this may no longer be true for anyone, or may be YMMV and only sometimes apply) the age of the donor or recipient card can be a factor.

 

*And as SJ says, income verification is also a possible explanation.

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Message 2 of 9
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Super Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards


@frogman1 wrote:

I thought reallocating credit limits between Amex cards was easy move. I am going to close an Amex card next month so I thought I would reallocate all but 1000 of its limit to another card. And I got the 7 to 10 day message. The new limit would have been 45k.  Does this happen often?


In my experience, it is an easy move when they're going to approve it. But each time they didn't approve it instantly, my request was turned down. Wishing you better luck. Maybe they just want income verification because you would be in the 35k & above range.


Total revolving limits 653000 (575000 reporting)

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Frequent Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

I had a similar problem with my Delta platinum adn Schwab Investor. Called them and they told me the Delta can't go below 1.4k. Fixed that and the transfer went throw.

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Community Leader
Senior Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

In my experience when I had amex, it was instant when approved and always denial when I got 7-10 day nessage.

EXP 758 TU 783 EQ 729
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Valued Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

Yeah 7-10 days means they denied it.  I've had that happen as well.

 

Usually for me it was because I didn't wait long enough between moves.

 

Also, the rules seem to be different for business cards.  I tried moving limits from one business card to another and they gave me some spiel about the age of accounts or something.  I tried again from a newer personal card and it worked no problem.

 

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Community Leader
Mega Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

They denied my attempts because im too average and poor. Lol, probably door #2Smiley Wink
Message 7 of 9
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Established Contributor

Re: Got 7 to 10 day message reallocating limits between 2 cards

(Mod cut - not here please).  We are talking about the mighty AmEx.

 

When it comes to 7-10 days for credit line transfers it is either a verification or a flat out denial. More usually a denial. If you need to feel free to call in and ask what is going on. This is one of those things that is rather easy to complete in most cases.

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Moderator

Re: Got 7 to 10 day message reallocating limits between 2 cards


@zerofire wrote:

(Mod cut - not here please).  We are talking about the mighty AmEx.

 

When it comes to 7-10 days for credit line transfers it is either a verification or a flat out denial. More usually a denial. If you need to feel free to call in and ask what is going on. This is one of those things that is rather easy to complete in most cases.


@zerofire, please read your PM. 

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