credit line allocation rules for AMEX

[Anonymous]

FYI, if you want to transfer credit lines between AMEX revolvers, you have to wait 60 days before the new account is eligible for the transfer.  The account from which the credit line is being transferred must be 13 months old.  My everday card will be 13 months old in a few days and my new BCE will be eligible on August 9th, at which time I can apply for a credit line increase.  Also, you can transfer all but $500 from the old card to the new card, similar to Chase.

[Anonymous]

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@Anonymous wrote:

FYI, if you want to transfer credit lines between AMEX revolvers, you have to wait 60 days before the new account is eligible for the transfer.  The account from which the credit line is being transferred must be 13 months old.  My everday card will be 13 months old in a few days and my new BCE will be eligible on August 9th, at which time I can apply for a credit line increase.  Also, you can transfer all but $500 from the old card to the new card, similar to Chase.

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While those are the "official" rules, some parts are more flexible.   In particular, I (and many others) have transferred CL to a brand new card.  The 13 month part seems much more inflexible in that I haven't heard of exceptions to that.  (So now someone can tell us theirs!)

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

FYI, if you want to transfer credit lines between AMEX revolvers, you have to wait 60 days before the new account is eligible for the transfer.  The account from which the credit line is being transferred must be 13 months old.  My everday card will be 13 months old in a few days and my new BCE will be eligible on August 9th, at which time I can apply for a credit line increase.  Also, you can transfer all but $500 from the old card to the new card, similar to Chase.

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While those are the "official" rules, some parts are more flexible.   In particular, I (and many others) have transferred CL to a brand new card.  The 13 month part seems much more inflexible in that I haven't heard of exceptions to that.  (So now someone can tell us theirs!)

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My experience was exactly that of LTL's. Had to transfer FROM a car that was older due to CARD act, but was able to transfer TO a brand new EDP last September (after first being told the 60 day thing by one of the many reps I talked to. 

[Anonymous]

I was just informed from a CSR (lord beer me strength if it was true) but thay claimed the only condition is the donor card must be 13 statements old.  The card receiving can be new or old.

[jawbrkr]

I dont see why you have to forfeit $500. Chase had me forfeit $500 when I merged the CL from my Freedom into the CSP. I cant remember exactly what their reasoning behind this was. I think I may have had a balance at the time of combination?! That's just crazy.

[Anonymous]

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@jawbrkr wrote:

I dont see why you have to forfeit $500. Thats crazy.

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You are not necessarily forfeiting $500, as you can keep the card open with a $500 CL.    And also, in the scheme of things, $500 change in total credit is pretty insignificant

[jawbrkr]

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@Anonymous wrote:

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@jawbrkr wrote:

I dont see why you have to forfeit $500. Thats crazy.

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You are not necessarily forfeiting $500, as you can keep the card open with a $500 CL.    And also, in the scheme of things, $500 change in total credit is pretty insignificant

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I suppose I misread the op's comment. He or she is not closing a card. In my case, with chase, i was closing one card and moving the CL to another and they had me forfeit $500.

[RonM21]

Good to know the ins and outs of their official rule in this situation. That's interesting they had you forfeit $500

[jawbrkr]

Oh, I believe it was because the card had been active within the last 30 days of combining and closing the card. So I had to lose $500. If it had been over 30 days, I believe they would have moved the entire CL.