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UPDATE! Amex questions moving limits and CLI's

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Frequent Contributor

UPDATE! Amex questions moving limits and CLI's

Hello. I have a 3yo Amex BCP card with a 32k limit. Next month is 6 months since the last CLI. I'm considering opening a Magnet card for 0%. I want to move a large limit from the BCP to the Magnet card. Here's where I have questions.

 

If I open the new card and move 22k to it, will I still be eligible for my CLI on the BCP next month? 

 

If not then wouldn't I still be able to get a CLI on the Magnet after 60 days? If eligible of course.

FICO SCORE 08 - Nov 2019 - EX 770 - TU 762 - EQ 758



12/15 - First Tradeline - 12/17 - 800 Credit Score - 3/18 - Homeowner

Message 1 of 18
17 REPLIES 17
Valued Contributor

Re: Amex questions moving limits and CLI's

If you move the CL you'll be able to do the 3X on the leftover amount. i.e if you move all but 10K then you can try for 30K and let the computer counter you.

 

Only 1 CLI per PERSON every 6 months.  If you opted to not do anything now, apply/approve the CM, then CLI at 61 days then it would work.

 

Also, if you're on the threshold of where Amex deems you have enough CL then they'll just steal it from the other card to open it.  I had a 50K BCP and thye ook 15K to open the CM when I opened mine.  I had been capped at 50K w/ 4506 prompts for awhile and for whatever reason w/ the new card I was able to trigger a 5K CLI for aggregate exposure of 55K instead of 50K w/o havin to fill out a 4506-T.  

500K+ TCL / 800+ FCOs
Message 2 of 18
Frequent Contributor

Re: Amex questions moving limits and CLI's

Thanks that's what I was hoping. Even if I've hit the ceiling I figure I'm in good shape. This is the best chance I have to get a large limit on a new card for getting the most out of a 0% period. Assuming they don't turn down my reallocation request. 

FICO SCORE 08 - Nov 2019 - EX 770 - TU 762 - EQ 758



12/15 - First Tradeline - 12/17 - 800 Credit Score - 3/18 - Homeowner

Message 3 of 18
Frequent Contributor

Re: Amex questions moving limits and CLI's

Didn't see this coming!

 

               , based on your history with credit card balance transfers, American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive the welcome offer, intro APRs, and intro plan fees.

We have not yet performed a credit check. Would you still like to proceed?

 

Guess I'm being offered nothing after all. I was pre approved for this. I thought I wouldn't get the SUB since I got one on the BCP a few years ago. The rest is a shock.

FICO SCORE 08 - Nov 2019 - EX 770 - TU 762 - EQ 758



12/15 - First Tradeline - 12/17 - 800 Credit Score - 3/18 - Homeowner

Message 4 of 18
Valued Contributor

Re: Amex questions moving limits and CLI's

I get the popup but, I expect the popup from the bonuses I collected in a short period of time.  I'm guessing it's either an error or they're looking at more than just Amex cards when evaluating SUB Eligibility now.

 

If it's been years as you stated then it shouldn't be popping up.  If you have a use other than the bonus/0% then it's worthwhile.  I was going to add the ED and got the popup which negated the use of the 0% period.  

 

Someone else might have some more input on whether it's a glitch or not when it comes to the payout.  

 

The ambiguous part of it is "or the number of Cards you have opened and closed,"

 

Normally one would think it's related to Amex only but, it would make more sense if they were leaning towards something like 5/24 for a denial of the bonus/intro terms.

 

Similar issue https://ficoforums.myfico.com/t5/Credit-Card-Applications/Should-I-request-a-CLI-on-an-existing-Amex...

500K+ TCL / 800+ FCOs
Message 5 of 18
Highlighted
Moderator

Re: Amex questions moving limits and CLI's


@Poppa wrote:

Didn't see this coming!

 

               , based on your history with credit card balance transfers, American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive the welcome offer, intro APRs, and intro plan fees.

We have not yet performed a credit check. Would you still like to proceed?

 

Guess I'm being offered nothing after all. I was pre approved for this. I thought I wouldn't get the SUB since I got one on the BCP a few years ago. The rest is a shock.


IIRC, the BCP is considered to be in the same card family as the card you're intending on applying.  So, not necessarily a glitch per se.  The standard language is pretty much a 'catch-all' phrase for all other conditions where the SUB and/or intro APR for a new account may not be awarded.

Message 6 of 18
Valued Contributor

Re: Amex questions moving limits and CLI's


@FinStar wrote:

@Poppa wrote:

Didn't see this coming!

 

               , based on your history with credit card balance transfers, American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive the welcome offer, intro APRs, and intro plan fees.

We have not yet performed a credit check. Would you still like to proceed?

 

Guess I'm being offered nothing after all. I was pre approved for this. I thought I wouldn't get the SUB since I got one on the BCP a few years ago. The rest is a shock.


IIRC, the BCP is considered to be in the same card family as the card you're intending on applying.  So, not necessarily a glitch per se.  The standard language is pretty much a 'catch-all' phrase for all other conditions where the SUB and/or intro APR for a new account may not be awarded.


I have both cards and added CM back in Dec while upgrading BCP for the $250 offer.  Not an issue.

500K+ TCL / 800+ FCOs
Message 7 of 18
Moderator

Re: Amex questions moving limits and CLI's


@Obscure-Expert wrote:

@FinStar wrote:

@Poppa wrote:

Didn't see this coming!

 

               , based on your history with credit card balance transfers, American Express welcome offers, introductory APR offers, or the number of Cards you have opened and closed, you are not eligible to receive the welcome offer, intro APRs, and intro plan fees.

We have not yet performed a credit check. Would you still like to proceed?

 

Guess I'm being offered nothing after all. I was pre approved for this. I thought I wouldn't get the SUB since I got one on the BCP a few years ago. The rest is a shock.


IIRC, the BCP is considered to be in the same card family as the card you're intending on applying.  So, not necessarily a glitch per se.  The standard language is pretty much a 'catch-all' phrase for all other conditions where the SUB and/or intro APR for a new account may not be awarded.


I have both cards and added CM back in Dec while upgrading BCP for the $250 offer.  Not an issue.


True, but others have experienced that issue where it may restrict having either BCE/BCP and Cash Magnet (cancelled applications) or conversely not getting the SUBs.  Plenty of past threads on this.

Message 8 of 18
Valued Contributor

Re: Amex questions moving limits and CLI's

I think in OP's case it is a glitch, unless he's done something recently that is not stated. I do feel Amex is too ambiguous/vague response to SUBs. I was denied one for the Hilton several months/year back, yet was eligible for the 100K Points on the Bonvoy just 4 months ago.

 

Maybe give it some time and app 3o days leter and try incogneto mode?

 

Being in the same CB family shouldn't matter, each card has the lifetime verbage associated with the SUB. You could technically get them on all three versions, though too close together may invalidate your eligibility. As they may see it as chasing.






Message 9 of 18
Moderator

Re: Amex questions moving limits and CLI's

Strange thing is I got this on my business simply cash being the pop-up, but they still gave me the 0% apr intro...  So not sure what to think.  Granted a bit of a different question, but regardless had the apr verbage in pop-up and wanted it anyways, but do indeed have a 0% apr and using it currently for a new tv for floating free money for 5 months.  I did have the old version of the simply cash though so maybe considered the same as well, but regardless got the 0 apr.

Message 10 of 18
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