Here is your challenge. I love NFCU but have decided I am now all in on cash rewards and I currently have the wrong cards with Navy. I have GoRewards. (Opened 2/18, SL $3,200, CLI 5/18 to $9,600. $20 in rewards earned/$50 needed to redeem. APR 14.49%). AmEx (Opened 5/18, SL $15,000, APR 16.49%. Insignificant numberr of MR). My EQ FICO9 is 760. I want the CashRewards card with the highest possible SL and lowest possible APR. I am in the garden until June and thus would prefer to avoid new app, unless that is the best way of proceeding. Here are my thoughts:
1. App for CashRewards as a third card. Hope to get a healthy SL and the lowest APR supported by my profile. Reallocate the limits from my AmEx card as needed. I do not need or want 3 cards with Navy but dont want to lose total available CL. Advantage: It gets me the CR card and I can probably reach the max $25k card limit by reallocating and closing AmEx. Disadvantage: Takes me out of garden, gives me another INQ, reduces my AAoA by 2 months and totally resets my AAYA.
2. Attempt to PC the AmEx to CR. I know conventional wisdom says you can't PC from AmEx but we have at least 2 recent reports where that has been done, so maybe policy has changed. I would forfeit approximately 500 MR points. I pick the AmEx for the PC because I already have the ED and considering the CM with them. I hate to give up the $20 in rewards I have on GoRewards but I need $50 to redeem and that will take some time. Advantage: Gets me to CR while in garden and no INQ or AAoA issues. Would I keep the same APR at 16.49? Disadvantage: Gives me only a $15,000 CL, which frankly is more than I need, less than the 25K my ego says I deserve. Possible CLI when I come out of garden? Does PC reset the 6 month clock on CLI requests?
3. New option that your expertise recomends?