Hi. I currently have a qantas amex dicovery card with a high limit and have had it since mid 2012. I'm currently looking at getting an velocity escape card also. I've recently applied for other credit cards, so another enquiry on my file wouldn't be so good. Was wondering if it's possible for Amex to just split up/reduce my current card limit and put it onto the velocity card. Or will I have to make a new application for it? Also, I've always paid in full the closing balance every time and never been late, wil that make my application more favourable? Thanks
Getting a new AmEx card
tqf8h on 24/01/2014 - 22:02
Comments
Alternatively if you are going to apply for a new amex card and they won't move the card ( I suspect they won't), then at least reduce the credit limit on your first card (to say, half) before applying for the other. It is because every time you are applying for a new card, you are applying for extra credit on top of what you already have.
Yes, but the current reporting rules don't note your lower limit. Only Amex themselves will be aware of it if their systems talk to each other. Current credit records are pretty much just a list of what you've applied for and any defaults, and they are patchy at best. Get your own free report from Veda if you haven't.
First thing to do is to contact AMEX and find out if they would split your limits.
There will still need to be an application for the velocity escape card at some point.Go to your Amex online account. Create a new message to Amex support. Copy the text that you have posted here. Paste it into that message. Send.
No offence, but this kind of question should be addressed directly to Amex.
I don't think your credit file will look bad if you pay your bills.
The only issue I ever had was a mortgage lender asked us to close our main card (with a $15k limit) when we moved our banking to them including a new card with similar limit.
Be aware that credit reporting changes in March to hold much more info on file.
I am half tempted to apply for another card now just in case the new rules make it harder.
I don't believe Amex will be able to do anything except a new application, it is just their process. I expect that you will be fine with a new application if you are getting a substitute card. They only get concerned if you end up with many high limit cards, and could then find yourself deeply in high cost debt if you maxed them all out.