Suggestions amex allocation

fritscher · ‎03-21-2019

Ok i originally had amex everyday at 20000..recently approved for cash magnet for 6000 but they did allocation and took 6000 off my 20000 so no new credit. No hps. Now i was going to call when i receive my card as was told i can do further allocations to put more on cash magnet in case i do balance transfer ftom other bank card.. So i was maybe going to make each card 10000 BUT in 61 days if i want to try for cli would it be better to hsve 6000 and then try for 18000 or if i do the 2 at 20000 do t think i would do 30000 request as think too high. I got letter today letting me know they did the allocation but they were not able to give more credit at this time? They also mentioned that i have not used my everyday alot so guess they figure i dont need highet limits. I also recently got approved for chase saphire prefferef and wf signature and savor. So getting back to my original question think 10k on each amex us good way to split or does it look better to leave alone at 14j and 6. Whew. Sorry. Long post. Thanks you all

FinStar · ‎03-21-2019

It really depends on your preference and how you'll manage your cards going forward usage-wise.

Also, keep in mind the very same premise of your Everyday card getting its CL slashed (i.e. little to no use). As I'm sure you may have ran across some recent threads floating around (i.e. AmEx CLDs due to non-usage), give your strategy some thought. While it doesn't appear those [CLD] impacts are en masse, if you were to consider or request a 3x CLI down the road and not use the card, it could potentially be reduced.

ETA - below is a recent CLD thread/discussion:

https://ficoforums.myfico.com/t5/Credit-Cards/AMEX-credit-limit-decrease/td-p/5547096

fritscher · ‎03-21-2019

Thank you

RickNATL · ‎03-22-2019

I feel like Amex will be trigger us to call and validate CLI requests...just the mere implementation of controls around new card allocations (me included), and some just being slashed is leading to a life where those CLIs will be more stringent....IMO of course.

Anonymous · ‎03-23-2019

@RickNATL wrote:
I feel like Amex will be trigger us to call and validate CLI requests...just the mere implementation of controls around new card allocations (me included), and some just being slashed is leading to a life where those CLIs will be more stringent....IMO of course.

I would actually think that they will just tighten up the CLI criteria and implement the not enough use reason that so many of us with Capital One are all too familiar with.