CLI questions or new cards.

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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experience
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CLI questions or new cards.

Postby experience » Wed Aug 20, 2014 1:43 pm

I've had AMEX cards for 2 years.

I started with a Blue Sky Preferred @$5k two years ago after they verified my income ($275k/yr). They have increased the limit to 15k about 4 months ago. I spend (and pay almost weekly) about $5-8k/month.

They offered me a Platinum and I use it but not all that often.

I recently got a Delta Amex and they issued me an immediate $20k in credit.

I have 3 citibank visas (2.5k, 9.5k thankyou, and 26k elite).

At what point should I request a CLI from any of the companies (Amex or citibank)? I carry zero balances but try to use them all. I am starting up another business and will need to use the cards a lot to acquire equipment and consumables.

With these new cards this year (Platinum, Delta, elite and thankyou) should I wait a few months before asking for a CLI or should I continue to get more cards? I don't want to trigger problems or issues.

I was refused Barclays because of "too many inquiries". Amex and citi seem to be giving me more and more. Any suggestions?


Cards:
Amex: Blue Preferred: 15k, Platinum, Delta 20k
Citibank: Diamond: 2.5k, Thankyou: 9.5k (they sent invite), AA: 26k
Discover: 2.5k

Total debt: 6k, no mortgage, several properties, 275k income.


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CarefulBuilder14
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Postby CarefulBuilder14 » Wed Aug 20, 2014 5:09 pm

At your spending level (and with a new business launching), I would definitely get some sort of separate card just for business expenses. Which one is best isn't really my area of expertise and may depend on the particulars of your new business. Maybe an Amex Business Platinum or other business charge card?

(Edit: You'd be personally liable for the debt, but easily tracking your expenses for tax purposes helps a lot! Having a flexible spending limit will help when you need to make a lot of purchases in a short period of time. There are also some business cards available without annual fees, if your new venture isn't going to require you to spend a huge amount.)

Out of curiosity, if you care to share, what line(s) of work are you in to make that kind of money?

A lot of cards have a ceiling in terms of the credit lines they come with, regardless of the level of spending and creditworthiness of the borrower. That may be the case with your Discover, and you might be too busy to keep track of that account if you don't use it much.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

supercoolman
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Postby supercoolman » Thu Aug 21, 2014 1:26 am

experience wrote:I recently got a Delta Amex and they issued me an immediate $20k in credit.


did you mean credit limit or cash?

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nismoZtuner
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Postby nismoZtuner » Thu Aug 21, 2014 1:08 pm

supercoolman wrote:did you mean credit limit or cash?


Credit limit..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

experience
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Postby experience » Thu Aug 21, 2014 5:58 pm

supercoolman wrote:did you mean credit limit or cash?


I wanted to know if some people here have 4 amex cards for example, or 4 citibank, etc?

I have 3 of each and they can be useful to buy a bunch of equipment then pay off. The more credit the better. I'm at about 35k total with amex + platinum.

I'm at 37k with citibank.

experience
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Postby experience » Thu Aug 21, 2014 9:07 pm

"Maybe an Amex Business Platinum or other business charge card? "

I might end up doing this at some point. I like the personal cards due to the rewards. I travel a lot so I am getting cards with the airlines I travel most frequently. I am also doing the same for hotels. I had a business Amex card back in the 90s but they were not as widely accepted then as now. I really like Amex and they have been fantastic to deal with.

I am looking to use the highest reward cards.

"Out of curiosity, if you care to share, what line(s) of work are you in to make that kind of money? "

Chemical plants. I design and develop a process to convert a waste stream into its components then sell the product.

I am looking for the highest reward cards. Since I stay at Hilton a lot I'll probably get the Amex Hilton but I don't know what their limit is on cards.



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