Misc Credit Card Questions

[ein oid melvado]

would amex take back 150k MR i got for opening account if i close it to avoid annual fee ?
i have other amex accounts open

[aedo]

would amex take back 150k MR i got for opening account if i close it to avoid annual fee ?
i have other amex accounts open

Amex can take back your welcome bonus or even close your account if you cancel or downgrade your account within 12 months of opening. The following text can be found in the terms and conditions for the welcome offer.

“If we in our sole discretion determine that you have engaged in abuse, misuse, or gaming in connection with the welcome offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain a welcome offer (s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit Membership Rewards points to, we may freeze Membership Rewards points credited to, or we may take away Membership Rewards points from your account. We may also cancel this Card account and other Card accounts you may have with us.”

Speak with Amex CSR and you may be offered a retention offer

[Dovdovmoneytree]

There's more than 1. The united business MileagePlus for example. 4 times a year, up to $50 each time.

Idk where you can find a towing company for under $50
If the charge is say $75, will they reimburse the $50?

[Dovdovmoneytree]

How much is too much to charge to a brand new CC (actually my first ever, if I recall, with Citi)?

Initial credit line is $12,700. Is $13-1400 too much on one day? Is $800 one day and $500 next day better, worse? Or all fine? TIA

[Dovdovmoneytree]

How can I get an extra card for my wife without adding her as an AU? If I recall; I once tried and they were giving me a tough time saying if my card wasn't lost or stolen no need for an additional card....

[drosenberg88429]

How can I get an extra card for my wife without adding her as an AU? If I recall; I once tried and they were giving me a tough time saying if my card wasn't lost or stolen no need for an additional card....

Tell them it's damaged and you want to replace it without changing the card number (so that recurring charges and auto pays continue to be charged without requiring updating).

[drosenberg88429]

How much is too much to charge to a brand new CC (actually my first ever, if I recall, with Citi)?

Initial credit line is $12,700. Is $13-1400 too much on one day? Is $800 one day and $500 next day better, worse? Or all fine? TIA

All perfectly fine

[HoKo]

Idk where you can find a towing company for under $50

Agreed

If the charge is say $75, will they reimburse the $50?

Yes I believe that's how it works

[Dovdovmoneytree]

Tell them it's damaged and you want to replace it without changing the card number (so that recurring charges and auto pays continue to be charged without requiring updating).

Thanks. A. If I say it's damaged, they will likely say they'll deactivate that card, no? B. It's a brand new card (and account), idk how saying the card is damaged will fly.

[Dovdovmoneytree]

All perfectly fine

What is the rule of thumb where it become not okay? A certain % of the credit line...?
 I recall Dan writing that it is not smart to charge too much immediately after opening a new card.

[Iz]

Best credit card application opportunities currently? Thanks.

[Yo ssi]

What is the rule of thumb where it become not okay? A certain % of the credit line...?
 I recall Dan writing that it is not smart to charge too much immediately after opening a new card.

Try not to cycle your credit line, and pay up most of your bill (till it's under 10% utilization) before it posts.

[madhocker]

Is there a number of hard inquiries that have a negative impact on chances of cc approval? I have 7 hard pulls on my record now (1 expiring in June), would it lower my chances of being approved for an INK card? Should I wait until one pull expires and I'm left with 6, or no difference? (credit score is 790).

[HoKo]

Is there a number of hard inquiries that have a negative impact on chances of cc approval? I have 7 hard pulls on my record now (1 expiring in June), would it lower my chances of being approved for an INK card? Should I wait until one pull expires and I'm left with 6, or no difference? (credit score is 790).

Indeed: https://onemileatatime.com/guides/chase-5-24-rule/

[madhocker]

You misunderstood. I am under 5/24 because a number of the cards were business card. Just asking if number of inquiries on credit report is a deciding factor.

[HoKo]

You misunderstood. I am under 5/24 because a number of the cards were business card. Just asking if number of inquiries on credit report is a deciding factor.

Ah I see. In that case, yes, # inquiries (recent inquiries in particular) is indeed still a factor that gets included into the overall decision making process.

How recent are your 7 inquiries?

[madhocker]

Ah I see. In that case, yes, # inquiries (recent inquiries in particular) is indeed still a factor that gets included into the overall decision making process.

How recent are your 7 inquiries?

well, all within the last 2 years. 1 is falling off in June, the rest are scattered over the 2 year period. Only 1 in the last 8 months though...

[HoKo]

well, all within the last 2 years. 1 is falling off in June, the rest are scattered over the 2 year period. Only 1 in the last 8 months though...

You should be fine then

[Spoon]

If I received a Amex retention offer on 5/11/21 when can I safely downgrade it without fear of a clawback?

[HoKo]

If I received a Amex retention offer on 5/11/21 when can I safely downgrade it without fear of a clawback?

+1

One nuance I'd like to understand better is whether the 1-year clock is counted from date of offer acceptance, versus date the offer was credited to your account.

Also, does anyone know if Amex tends to punish people that add authorized users for bonus points, and then close the account in less than a year...For example, lets say I signed up for an amex CC in Apr'21, then in Jan'22 I added an AU for 10K MR...can I still close the account (both primary card and AU) in May of 2022?