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Reallocation of available credit early on AMEX cards

doinit1
Valued Contributor

Reallocation of available credit early on AMEX cards

Good Morning forum.

 

I was under the understanding that you could not reallocate available credit between cards unless one of the accounts had 13 statements to cut. Well I have a Delta Godl Skymiles card that I opened May 24th 2016 and a BCP which was opened January 15th 2017. The BCP had a SL of 5000.00 and the Delta had a starting limit of 4000.00. After 3xcli on Delta Gold Delta (became12000.00) on July 25th 2016 and since 6months had passed I was able to go 3xcli on BCP on January 20th (went to 15000.00). I rarely use the Delta Gold so I decided to try to reallocate 7000.00 to BCP (now 22000.00) leaving the Delta Gold at 5000.00. I wanted to share this experience just in case someone wanted to give it a try to see if there was a change in policy.

 

My fico scores are EX-736 17 inquiries, EQ -701 9 inquiries, TU 724 20 inquiries (1/23/2017). I started rebuilding 11/2014 with all scores below 500. Total credit lines - 15 cards 88350.00. Thanks everyone for getting me to where I am today. I will try to post more of my experiences.

 

 

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 1 of 13
12 REPLIES 12
doinit1
Valued Contributor

Re: Reallocation of available credit early on AMEX cards

Does anyone have any input reagrding this....Thanks

 

 

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 2 of 13
Myrwyn
Frequent Contributor

Re: Reallocation of available credit early on AMEX cards

I think your post is unclear.  Your OP sounds as if you are sharing an experience in moving CL's around with Amex.  You then listed your credit profile.  There was no 'wrap-up' question or statement.  You then asked if anyone had input for you - but I think we are all unclear on what you asking input on - transferring CL's?  Your improved credit file?   A little more clarification would be great - thank you!


6/5/18 EQ-775, TU-778, EX-771
Last HP - 2/27/18 - Gardening as long as possible
Message 3 of 13
fltireguy
Valued Contributor

Re: Reallocation of available credit early on AMEX cards

Myrwyn- OP is talking about how, supposedly you cannot reallocate CL between Amex accounts until the accounts are at least 12-13 months old, but he managed to do it earlier.... and if anyone else has seen this
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 4 of 13
Myrwyn
Frequent Contributor

Re: Reallocation of available credit early on AMEX cards

Thanks - apparently I need to make another Dunkin coffee run!


6/5/18 EQ-775, TU-778, EX-771
Last HP - 2/27/18 - Gardening as long as possible
Message 5 of 13
jfriend33
Senior Contributor

Re: Reallocation of available credit early on AMEX cards


@doinit1 wrote:

Good Morning forum.

 

I was under the understanding that you could not reallocate available credit between cards unless one of the accounts had 13 statements to cut. Well I have a Delta Godl Skymiles card that I opened May 24th 2016 and a BCP which was opened January 15th 2017. The BCP had a SL of 5000.00 and the Delta had a starting limit of 4000.00. After 3xcli on Delta Gold Delta (became12000.00) on July 25th 2016 and since 6months had passed I was able to go 3xcli on BCP on January 20th (went to 15000.00). I rarely use the Delta Gold so I decided to try to reallocate 7000.00 to BCP (now 22000.00) leaving the Delta Gold at 5000.00. I wanted to share this experience just in case someone wanted to give it a try to see if there was a change in policy.

 

My fico scores are EX-736 17 inquiries, EQ -701 9 inquiries, TU 724 20 inquiries (1/23/2017). I started rebuilding 11/2014 with all scores below 500. Total credit lines - 15 cards 88350.00. Thanks everyone for getting me to where I am today. I will try to post more of my experiences.

 

American Express Platinum NPSL

American Express BCP 22000

American Express Optima Plat 13100 AU

Walmart 10000

Bank of America Cash Rewards 7500

Discover 7000

Capitol One Venture One 6450

Barclaycard  5000

American Express 5000

CapitalOne Quick Silver 3000

Kohls 2500

Chase 2000

Best buy 2000

Pier 1 2000

J Crew 800


Interesting dps!  Doesnt always happen these days, since it was new some still do get the 3x right away.  And you could also combine the venture one into the quicksilver, and close whatever store cards do not save you money.  Make sure you cash out any miles you have first, and keep the card with the lower long term APR. Or if one was really really old, i guess keep that, but if one has 13% apr vs 25, I'd pick the lower APR.

 

I thought the donor card needed to be 30 days, unless it was required moving limits for opening too.  Looks like you did ok.

EQ 730, TU 730, EX 720. INQs EQ-1, TU-9, EX-7 AAOA 4yrs Util 6% Inspiration: Themanwhocan's Cash Back Charts
Message 6 of 13
doinit1
Valued Contributor

Re: Reallocation of available credit early on AMEX cards

Thanks jfriend33 

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 7 of 13
doinit1
Valued Contributor

Re: Reallocation of available credit early on AMEX cards

fltireguy

Thanks for the clarification!!Smiley Happy

American Express Business Gold(NPSL 10k) Chase CSP (25k) BofA CR Siggy (20.8k) BofA BBR (22.1k) Amex BCP(4.1k) Overstock (21.1K) Lowes (17K) NFCU CLOC (15K) NFCU VS Cash (15K) Care Credit (15k) J Crew( 11.9k)Venture WMC (10.25k) Amex Everyday (1k) Chase Slate (10k) Walmart MC(10k) BB Visa (10k) Discover(4.5k☝️) PayPal Cashback Mastercard (8k) Chase FU (7.4k) Citi AAdvantage Gold World Elite (9.5K) Citi Double Cash (8.5k) Fidelity® Rewards Visa Signature® Card (6.5K) PenFed PCR (5K) PayPal Credit (4550)Discover (500✌️) Kohls (3k) Chase Freedom (1500)

Mortgage May 2017 - 2 auto loans (1 PenFed and 1 Navy) Aug 2018=98K
Gardening until June 2021

FICO 8 Scores EX 700 EQ 696 TU 703
AAOA 5.2yrs TCL=268,700
Message 8 of 13
longtimelurker
Mega Contributor

Re: Reallocation of available credit early on AMEX cards

The "standard" or at least oft-repeated rule for Amex is 13 statements for donor card and 60 days for recipient.   From personal experience and from others we know that the 60 days can be overrdden (transferring CL on new card approval).   But getting the 13 months waived is indeed new to me.

Message 9 of 13
Chris679
Established Contributor

Re: Reallocation of available credit early on AMEX cards


@longtimelurker wrote:

The "standard" or at least oft-repeated rule for Amex is 13 statements for donor card and 60 days for recipient.   From personal experience and from others we know that the 60 days can be overrdden (transferring CL on new card approval).   But getting the 13 months waived is indeed new to me.


I just tried to do this last week and they said no because of 13 months.  I will admit that the CSRs I talked to were terrible and if I found out it could actually be done I would not be shocked.  I received very poor customer service when I called the number on the back of Delta Sky Miles and Everyday compared to when I called the number on back of Blue Cash. 

Message 10 of 13
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