CLI/upgrade question

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4 posts
gmonox
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Posts: 9
Joined: Wed Jun 05, 2013 1:24 pm
Location: Utah

CLI/upgrade question

Postby gmonox » Wed Jun 05, 2013 1:35 pm

Hey everyone! First post here :) amazingly helpful forum, I've been lurking for a few weeks now. I have a question about AMEX CLI and card upgrades.

First, a little background. I used to have not-so-good credit, from when I was a student with low income and maxed out my CCs. I got a loan to pay them down in Feb, and had been paying that down since then. Once my credit got back up to 700+, I applied for a couple new cards (AMEX BCE and Capital One Cash Rewards) and ended up getting a C1 cash with a 10,000 CL and an AMEX Blue (not BCE) with a $4900 limit. After remembering that I had signed up for payment protection with the loan I took out, and realizing how slow my balance was going down, I did a 0% BT to my COne card (which now has $6500 used out of 10k available limit).

Now, onto my actual question. I applied for a BCE card but only got a Blue. I wanted the BCE for rewards (I haven't paid interest on a CC since I used that loan to pay them down, have been paying them in full every month and wanted better rewards than I was currently getting). My total available credit now is about 21k, with 6500 utilization.

Question 1: I want to upgrade to BCE, and talked to an AmEx rep over the phone and they told me that I would be able to apply for an upgrade after 60 days of having the card open. Will my high utilization on my balance-transfer card factor into whether or not they'll let me upgrade, or will it matter more that I pay off my AmEx every month?

Question 2: Does upgrading to a BCE reset the 60 day counter to request a credit limit increase? If so, could I request a CLI and then immediately after upgrade to a BCE? I only want the CLI to lower my utilization while I'm paying down the BT card to keep my score up, I'd much rather have the BCE and have the same limit I have now if I have to choose. But if I can get the CLI as well, I'd like to.

Thanks in advance :)
Capital One Cash Rewards VISA: 10k
AmEx BCE: 12.3k
Chase Freedom VISA: 3k
Chase Sapphire Preferred: 5k
Credit Union VISA: 0.5k
Chase Amazon VISA: 0.6k
Kohl's Charge: 0.4k


gmonox
Green Member
Green Member
 
Posts: 9
Joined: Wed Jun 05, 2013 1:24 pm
Location: Utah

Postby gmonox » Tue Jun 11, 2013 12:24 am

bump, any opinions on this?
Capital One Cash Rewards VISA: 10k
AmEx BCE: 12.3k
Chase Freedom VISA: 3k
Chase Sapphire Preferred: 5k
Credit Union VISA: 0.5k
Chase Amazon VISA: 0.6k
Kohl's Charge: 0.4k

pewpew
Centurion Member
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Posts: 106
Joined: Wed Apr 03, 2013 3:16 am
Location: nyc/ny

Postby pewpew » Tue Jun 11, 2013 1:10 am

gmonox wrote:Will my high utilization on my balance-transfer card factor into whether or not they'll let me upgrade


No. Your utilization is not that high.

gmonox wrote:or will it matter more that I pay off my AmEx every month?


Yes. Your history with AmEx weighs heavily on their business with you. Don't miss payments, and pay more than minimum.

gmonox wrote:Does upgrading to a BCE reset the 60 day counter to request a credit limit increase?


No. The two are mutually exclusive. I've done both on the same day.

gmonox wrote:could I request a CLI and then immediately after upgrade to a BCE?


I would advise getting the CLI first. If you are already eligible for the CLI, doing the PC may (and probably will) make that go away. That is the case with Discover, I wouldn't be surprised if this was true for AmEx.
Junk I use:
AmEx Platinum for Mercedes Benz from, 75k spending ability
AmEx Everyday 8.99% + Prime, 44k CL
Chase Ink Bold, 35k
Chase Freedom (Converted from WaMu VISA) from '07, 5.99% + Prime, 30k CL

Junk I don't use
BoA Susan G. Komen Cash Rewards (converted from World Points MC) from '07, 7.9% Fixed APR, 30k CL
Discover IT (Converted from Discover More) from '08, 5.74% + Prime, 20k CL
AmEx Clear from '07, 4.99% + Prime, 10k CL
All 3 credit scores are over 800.

gmonox
Green Member
Green Member
 
Posts: 9
Joined: Wed Jun 05, 2013 1:24 pm
Location: Utah

Postby gmonox » Tue Jun 11, 2013 10:18 am

Thanks! Very helpful :)
Capital One Cash Rewards VISA: 10k
AmEx BCE: 12.3k
Chase Freedom VISA: 3k
Chase Sapphire Preferred: 5k
Credit Union VISA: 0.5k
Chase Amazon VISA: 0.6k
Kohl's Charge: 0.4k



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