Help! Best Course of Action with New AMEX CC <--Noob Here

[Anonymous]

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@Anonymous wrote:



!!!!!!!First on the new cards!!!!!
*😃noiice😃*

(IF) it was me keep both....3x cli on BCEP Try again later for 3x cli on BCED then move (all $)to BCED....cause I don't like AF.

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This actually makes sense but the $75 really isn't much if I'm getting 2x as much 6% instead of 3% in groceries! thats quite a bit and we like to eat ... I'll do as you said keep both and keep getting CLI on them.  I am just kind in the fence, coz if I apply for new Amex later on and they see i have 2 cards one being $5,000 limit and other $500 would make them give me more towards the really low limit . I dont know I think I'm overthinking this too much lol!

[Anonymous]

Sounds good to me! Thanks so much for your time and your replies!

With your experience with AMEX, I am reading all about it on the forum, but it's abit overwhelming. Since the Platinum has NPSL, but it has internally....is it wise that I start all my expenditures on the card on Day 1? or is it possible to wait for later? I have read that AMEX calculates your NPSL based on your first 3 months? Like right now I can spend $20K in 1 month because of some house work we are doing and pay it off then rinse and repeat. But I dont know if that will be a good move or will it scare AMEX and maybe just try to spend $5k (regular bills, groceries etc..) for few months? 

Thanks!

[-Cal-]

Make sure you meet your minimum spend on both your BCE and your BCP so you can collect both sign up bonuses.

If i were in your shoes my strategy would be to go for the 3x CLI on the $5k card bringing it to $15k then reallocate $5k of that to your $500 card so you'll have $5.5k and $10k then when eligible again either 2-3x the 15k or 3x the 5.5k. That will be the fastest way to grow the $500 card.

As far as the Platinum, what you stated isn't accurate. I've never spent nowhere near my spending limit. There's probably several factors that come into play including income. Showing gradually high spending patterns could help but isn't the only factor. 

[Anonymous]

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@-Cal- wrote:

Make sure you meet your minimum spend on both your BCE and your BCP so you can collect both sign up bonuses.

If i were in your shoes my strategy would be to go for the 3x CLI on the $5k card bringing it to $15k then reallocate $5k of that to your $500 card so you'll have $5.5k and $10k then when eligible again either 2-3x the 15k or 3x the 5.5k. That will be the fastest way to grow the $500 card.

As far as the Platinum, what you stated isn't accurate. I've never spent nowhere near my spending limit. There's probably several factors that come into play including income. Showing gradually high spending patterns could help but isn't the only factor. 

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Wow what a great advice! Now I can understand it visually lol! so is it okay for American express to reallocate CL? is it possible to do a PC on BCE for AmexED? and if PC is allowed how soon? do you get the same CL? ''Thanks for clarifying with the Platinum now that makes sense!

[Anonymous]

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@Anonymous wrote:

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@-Cal- wrote:

Make sure you meet your minimum spend on both your BCE and your BCP so you can collect both sign up bonuses.

If i were in your shoes my strategy would be to go for the 3x CLI on the $5k card bringing it to $15k then reallocate $5k of that to your $500 card so you'll have $5.5k and $10k then when eligible again either 2-3x the 15k or 3x the 5.5k. That will be the fastest way to grow the $500 card.

As far as the Platinum, what you stated isn't accurate. I've never spent nowhere near my spending limit. There's probably several factors that come into play including income. Showing gradually high spending patterns could help but isn't the only factor. 

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Wow what a great advice! Now I can understand it visually lol! so is it okay for American express to reallocate CL? is it possible to do a PC on BCE for AmexED? and if PC is allowed how soon? do you get the same CL? ''Thanks for clarifying with the Platinum now that makes sense!

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r

You cant reallocate credit limits until the donor card is 13 months old.  Additionally you can not PC a cash back card (BCE/BCP) to a membership rewards earning card (ED/EDP)

[-Cal-]

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@Anonymous wrote:

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@Anonymous wrote:

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@-Cal- wrote:

Make sure you meet your minimum spend on both your BCE and your BCP so you can collect both sign up bonuses.

If i were in your shoes my strategy would be to go for the 3x CLI on the $5k card bringing it to $15k then reallocate $5k of that to your $500 card so you'll have $5.5k and $10k then when eligible again either 2-3x the 15k or 3x the 5.5k. That will be the fastest way to grow the $500 card.

As far as the Platinum, what you stated isn't accurate. I've never spent nowhere near my spending limit. There's probably several factors that come into play including income. Showing gradually high spending patterns could help but isn't the only factor. 

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Wow what a great advice! Now I can understand it visually lol! so is it okay for American express to reallocate CL? is it possible to do a PC on BCE for AmexED? and if PC is allowed how soon? do you get the same CL? ''Thanks for clarifying with the Platinum now that makes sense!

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r

You cant reallocate credit limits until the donor card is 13 months old.  Additionally you can not PC a cash back card (BCE/BCP) to a membership rewards earning card (ED/EDP)

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The highlighted statement above hasn't been the case in my experience but I guess YMMV. 

[Anonymous]

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@-Cal- wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@-Cal- wrote:

Make sure you meet your minimum spend on both your BCE and your BCP so you can collect both sign up bonuses.

If i were in your shoes my strategy would be to go for the 3x CLI on the $5k card bringing it to $15k then reallocate $5k of that to your $500 card so you'll have $5.5k and $10k then when eligible again either 2-3x the 15k or 3x the 5.5k. That will be the fastest way to grow the $500 card.

As far as the Platinum, what you stated isn't accurate. I've never spent nowhere near my spending limit. There's probably several factors that come into play including income. Showing gradually high spending patterns could help but isn't the only factor. 

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Wow what a great advice! Now I can understand it visually lol! so is it okay for American express to reallocate CL? is it possible to do a PC on BCE for AmexED? and if PC is allowed how soon? do you get the same CL? ''Thanks for clarifying with the Platinum now that makes sense!

---

r

You cant reallocate credit limits until the donor card is 13 months old.  Additionally you can not PC a cash back card (BCE/BCP) to a membership rewards earning card (ED/EDP)

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The highlighted statement above hasn't been the case in my experience but I guess YMMV. 

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Ok, thats good to know.  I havent done it but have read about the 13 months.  Doesnt surprise me though that they arent consistent with their rules.

[longtimelurker]

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@Anonymous wrote:

A little advice, when applying for cards, only apply for the ones that you know you want to keep.

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While this may apply to some, it's certainly not necessary for all.   Cards change, so what is a good card now might be nerfed, or an even better one might come along.   And equally, your needs change over time, so with a job change or relocation, gas may become, or may cease to be, a major expense, and similarly groceries vs dining out, and travel including which airlines make sense etc.

So, providing your profile is "thick" enough, it's fine to get a card for the bonus, perhaps to try it out.     It's not a long term contract on either side....

[RonM21]

Good point in that it's different for everyone and the thicker the profile, sometimes the more play around room you have, assuming you know what you're doing.