@Anonymous wrote:Hi James and Credit! Thank you on your input with AMEX... I did ALOT of research with AMEX and it's 3x increase so I'm quite familiar with that.
So I have BCP that has $5,000 limit and I plan to request the 3x increase on that after my 61 days which is next month... and if and when I get the $15,000, I'll try for another one in 6 months for $30,000. Then at that point both cards will be close to 13 months of which I will be able to move my limit and I'll just move $5,000 of it to BC and then 6 months again I'll try that BC to gain it's course to $25,000 too
Great advice! I do like Neiman Marcus and you are soo right I spend 1 moisturizer and its $250 so thats 33% of my limit already lol, but I just pay it in full and I get the bonus points, I want it to be high enough so I can get some Chanel purse $5,500 hehe and also get the points... coz I usually reward myself at least 1 purse a year and instead of putting it in a credit card I'd like to put it in Neiman Card and use the double points to get the $650 shoes from Louboutin lol! Bags and Shoes for this girl...
If they recently gave you just $500 on the BC (this is the old blue cash?) then I wouldn't bank on getting the full 3x CLI on the BCP, as the $500 suggests that they have concerns!
Edit: Oh I see the BCP came second by a few days, so ignore the above!
I have a slightly different view..... You took the HP for these cards.... Its very likely the Disco will graduate, and then it grows quite nicely...As someone suggested, use it for a subscription or reoccuring charge.. and then PIF (id actually wait for the statement to generate and not pre pay it..) ... Ithe utilization isnt a big issue esp if you have a little padding.. As for Amex... 500 is a we really dont trust you... like Optima type "we dont trust you" level... but if you have another revolver with them... with even a 1k limit... it too can probably grow.. Id be more for sock drawing cards that dont have an AF... let them close on their own if its unmanagable, but use the Disco and AE ... youll save some HP in the process.... If i were to cut stuff. it be store cards.....
As always YMMV
-J
@Yj002 wrote:If you already established credit profile then close out your secured card. Also, never ever close the card you first opened because it will affect the duration of your average credit profile. Also, I would close Amex Platinum since it is a charge card and it won't help you with your overall credit profile building. One other option, use your Amex Platinum heavily and pay it off on-time each month so you would be able to app for Amex's credit cards in the future. If they trust you, they tend to give out generous credit limits. Good luck!
Thanks for your input, I actually like my AMEX platinum and I just paid the hefty $450 AF 
and received the 100,000 bonus points so hopefully by end of this year and mid next year, I will have enough accumulated points for our annual vacation for family of 4.
I already closed Discover and its so true that if Im already getting limit $5,000 here and there I wont need $300 secured card on my profile. I did keep Lowes since I have heard that , it will grow significantly (sooner than later I hope) since I have lots of remodeling plans for our house.
Thanks again!
@Yj002 wrote:If you already established credit profile then close out your secured card. Also, never ever close the card you first opened because it will affect the duration of your average credit profile. Also, I would close Amex Platinum since it is a charge card and it won't help you with your overall credit profile building. One other option, use your Amex Platinum heavily and pay it off on-time each month so you would be able to app for Amex's credit cards in the future. If they trust you, they tend to give out generous credit limits. Good luck!
Correct me if I'm wrong, but does a closed account not stay on your report for ten years? If so, how does closing an account lower your AAoA?
