Closed my AmEx cards

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Mar 21, 2015 5:11 pm

popamode72 wrote:Chase Freedom is also looking more and more attractive to me now too to the point where Discover It might be back in the SD for a long time. I recently applied for it and unlike in the past where I've gotten denied for it, it's in verification right now.


Hope the news is good! If Chase has you near their internal limit and you have to move credit around between accounts, I'd drop AARP (assuming you plan to keep PRG and CSP for the foreseeable future).
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red


popamode72
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Postby popamode72 » Sat Mar 21, 2015 8:05 pm

CarefulBuilder14 wrote:Hope the news is good! If Chase has you near their internal limit and you have to move credit around between accounts, I'd drop AARP (assuming you plan to keep PRG and CSP for the foreseeable future).


I will definitely drop Chase Amazon if that might be the case (which I think is likely), SD Ritz Carlton for a while and keep that open for at least a year before I decide to do anything else with that card (I got the 140k points just this month on that one), and keep AARP long term considering it's currently my oldest Chase card now. I don't want Chase to think that I'm trying to churn their cards as I already closed Southwest Airlines several months ago and had most of that limit moved over the AARP. I've read all about how anti churn they can be. I think 3-4 Chase cards is the maximum that I want to have at one time.

I can also see now how much more value those UR points can be than say what AARP comes with, which is more of a straight cashback card for restaurants and gas.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

popamode72
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Postby popamode72 » Sat Mar 21, 2015 8:08 pm

Battery111 wrote:I suppose this is true for the occasional novice traveller simply redeeming points for cash value towards travel. But if you transfer the points out to partners, then you can get significantly more value since mile redemption costs aren't linked to ticket cost.


That's what I'm planning to do with my 140k Ritz Carlton points. I'm considering converting those to either 50,000 Southwest Rapid Rewards miles or United miles. I haven't narrowed it down yet though. I want to save up UR points for the long term so I'm not gonna immediately transfer those out but that's very helpful to know that the redemption is even better when transferring out to partners due to their 1 to 1 system.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Mar 21, 2015 10:22 pm

popamode72 wrote:I will definitely drop Chase Amazon if that might be the case (which I think is likely), SD Ritz Carlton for a while and keep that open for at least a year before I decide to do anything else with that card (I got the 140k points just this month on that one), and keep AARP long term considering it's currently my oldest Chase card now. I don't want Chase to think that I'm trying to churn their cards as I already closed Southwest Airlines several months ago and had most of that limit moved over the AARP. I've read all about how anti churn they can be. I think 3-4 Chase cards is the maximum that I want to have at one time.

I can also see now how much more value those UR points can be than say what AARP comes with, which is more of a straight cashback card for restaurants and gas.


So if your Freedom app is approved, you'll have had a total of 6 different Chase cards?

Chase Amazon and Chase AARP both become pretty useless from a rewards perspective once you have CSP and PRG, but I hear you about wanting to keep old accounts open.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

popamode72
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Postby popamode72 » Sun Mar 22, 2015 11:34 am

CarefulBuilder14 wrote:So if your Freedom app is approved, you'll have had a total of 6 different Chase cards?

Chase Amazon and Chase AARP both become pretty useless from a rewards perspective once you have CSP and PRG, but I hear you about wanting to keep old accounts open.


Sw was the card that i got mainly as my foot in the door through chase to begin with so it wasnt as useful once i got the bonus on it but it gave me the opportunity to build up my internal score with them so i could get something better.

I worked with their cobranded cards which i found easier to get at the time until getting csp which i plan to make a long term card and eventually convert to a Freedom so ill have two for more ur point earning potential. I really didnt feel as confident in going for a freedom until after getting that one but now that a freedom approval is actually likely, trimming my chase portfolio and downsizing will be easier. Amazon will definitely be the first to go.

I also timed it so when the 200 dollar bonus returns probably in may, i can contact sm to have my offer matched.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Mar 28, 2015 12:19 am

I see your signature has a Freedom now. Congrats!

Although with a $500 limit, I think Chase is telling you that they have extended you enough credit already!
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

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lobbythis
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Postby lobbythis » Sat Mar 28, 2015 12:38 am

CarefulBuilder14 wrote:I see your signature has a Freedom now. Congrats!

Although with a $500 limit, I think Chase is telling you that they have extended you enough credit already!


I doubt it. Popamode and I have the same Chase cards, except we both applied in opposite directions with similar results.

I apped 1. Freedom, 2. Ritz and 3. CSP. Chase gave me $600 on Freedom, even after recon. I requested a CLI at 4 months and was denied even after having been approved for Ritz and CSP in that time. 6 months will be at the end of April for the Freedom, so I can't wait to see what the hell they are going to do.

They are completely assbackwards on the Freedom. I even pointed out how much I already spent on the CSP and Ritz (5 figures and all paid in full) and they still said, "No, f*ck you, $600 for you."

popamode72
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Postby popamode72 » Sat Mar 28, 2015 7:06 am

lobbythis wrote:I doubt it. Popamode and I have the same Chase cards, except we both applied in opposite directions with similar results.

I apped 1. Freedom, 2. Ritz and 3. CSP. Chase gave me $600 on Freedom, even after recon. I requested a CLI at 4 months and was denied even after having been approved for Ritz and CSP in that time. 6 months will be at the end of April for the Freedom, so I can't wait to see what the hell they are going to do.

They are completely assbackwards on the Freedom. I even pointed out how much I already spent on the CSP and Ritz (5 figures and all paid in full) and they still said, "No, f*ck you, $600 for you."


I think it's a combination of that and coming close to my internal limit. I was just fortunate that I didn't have to move anything to get it opened. My second lowest Chase limit was my second Chase card and that was the AARP originally at 1.2k before moving the limit from the SW card over. They just tend to give a lot more on the AF cards, especially if they have the potential to be issued as Visa Signature cards.

Southwest came first, Chase AARP second, Ritz third, Amazon, then CSP and Freedom.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

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CarefulBuilder14
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Postby CarefulBuilder14 » Sat Mar 28, 2015 11:34 am

lobbythis wrote:They are completely assbackwards on the Freedom. I even pointed out how much I already spent on the CSP and Ritz (5 figures and all paid in full) and they still said, "No, f*ck you, $600 for you."


popamode72 wrote:They just tend to give a lot more on the AF cards, especially if they have the potential to be issued as Visa Signature cards.


The CB pulls database shows a lot of people getting approved for a Freedom with initial CLs of several thousand - up to even $30k. I started at $600, but the only thing in my file at the time was a year-old GECRB inquiry. Freedom doesn't normally have a toy limit unless someone is an early credit builder/rebuilder.

Chase usually likes to see high CLs with other issuers, which popamode72 certainly has (along with a year and a half of history). I agree that it may be easier to get an approval and a somewhat higher CL on a card with an annual fee, but $500 is lower than the lack of an AF can reasonably explain.

It could also possibly be an inquiry, new credit, and/or existing total CL vs. income concern. However, it is not something inherent to new Freedom cards. It's not like a Cap One Platinum where people with really great usually get a toy limit. It looks to me like an internal limit concern.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH, Aviator Red

popamode72
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Postby popamode72 » Sat Mar 28, 2015 12:04 pm

One thing i forgot to mention is that i moved 1k from amazon over to the freedom to make it 1.5k but plan to move the rest of the amazon limit over so ill have a 2k freedom. With Chase, the card has to have at least a month of inactivity to be able to do a full CL consolidation. That's one big reason I didn't take too much of an issue with the starting limit because of how easy they make it to move CLs around and how Amazon compared to Freedom is pretty useless. At the time I went for Amazon, I really did not think that I'd be able to get a CSP or a Freedom at all so that was in hindsight.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)



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