Strategy to obtain US Amex

[Grrr]

Credit Utilization: Maintain a utilization rate below 30%. For instance, with a $15,000 limit, making repayments prior to statement period ends and leaving a $1,000 balance is about 6.67% utilization.

Just wanted to clarify this…

With that hypothetical $15k limit, would the banks look unfavorably on you spending eg $15k, then paying the balance down, then spending another $15k, and paying it down to leave a $1k balance before the statement period ends ?

 

[georgie23]

Just wanted to clarify this…

With that hypothetical $15k limit, would the banks look unfavorably on you spending eg $15k, then paying the balance down, then spending another $15k, and paying it down to leave a $1k balance before the statement period ends ?

As far as I know thats called credit cycling and frowned upon - some banks are more against than others and people have had cards cancelled - Amex is probably a more little lenient but Chase or Cap1 can close for this behaviour

 

[Grrr]

As far as I know thats called credit cycling and frowned upon

Ok
So for that $15k limit, is it best not to get close to that limit during the month, or does it not matter as long as you pay it down to <30% before the statement issue ?

This is all a bit foreign for me where I've never had any issue in doing what I want with credit here in Aus (the banks have historically been very liberal in dishing out more than I ever needed)...

 

[georgie23]

the 30% rule is only important if you are trying to chase a FICO score - if you are not planning on applying for new credit etc advice is keep it simple
Use the credit card up to the limit you need and then make sure you pay it off
The <30% utilisation helps to boost utilisation part of score but that is reset each month so doesn't do anything in long term

 

[zainman]

Was chatting to AMEX about a ABG upgrade offer to ABP and this came up

Anyone know if this is true? Currently have a ABG upgrade offer for 100k MR for $10k spend (not a good idea apparently as better to just get a ABP directly)

 

[levelnine]

Anyone know if this is true?

It's not. You can upgrade at any time. You will have to keep the upgraded card for 12 months to avoid clawback of the upgrade, though.

 

[zainman]

It's not. You can upgrade at any time. You will have to keep the upgraded card for 12 months to avoid clawback of the upgrade, though.

Thanks. Yes thought that would be the case.

What if I cancel the ABG before annual fees comes due? Do they claw the SUB?

 

[djchuckles]

Thanks. Yes thought that would be the case.

What if I cancel the ABG before annual fees comes due? Do they claw the SUB?

I think if you cancel before 12 months is up they can/do. Best option is wait til the fee posts, cancel (unless they give a good retention offer) and then you’ll get the fee refunded. I think you have to do it within 30 days of the fee being posted

 

[levelnine]

Whenever you take any sort of card offer from Amex (SUB, upgrade, retention), you have to keep the card open for another 365 days. You can cancel 366 days after the last offer was accepted (ie 366 days after the opening date, upgrade date, retention acceptance date) without clawback.

 

[Ko0l]

This is a long shot, but anyone know if the gift voucher on glass brasserie website will trigger the $50 hilton credit?

Gift Voucher - Glass Brasserie

www.glassbrasserie.com.au

 

[maverick1]

This is a long shot, but anyone know if the gift voucher on glass brasserie website will trigger the $50 hilton credit?

Gift Voucher - Glass Brasserie

www.glassbrasserie.com.au

Not sure about this one but I got Hilton credit for purchasing $100 Ms Margot's Bar & Eats at Hilton Surfers online. Has 3 years validity.
Let me know how you go incase you pull the trigger

 

[http_x92]

Not sure about this one but I got Hilton credit for purchasing $100 Ms Margot's Bar & Eats at Hilton Surfers online. Has 3 years validity.
Let me know how you go incase you pull the trigger

Seconded - The Hilton Surfers Paradise gift cards should still work.

 

[Franko Costa]

Large amex SD. I'm on some groups where people got SD. The use of 99 ECs, fluz and BBT seem to be the biggest trigger

 

[sqrt()]

Large amex SD. I'm on some groups where people got SD. The use of 99 ECs, fluz and BBT seem to be the biggest trigger

Focus on the floozies Lessons from the Big Axe: American Express 2025 Edition – Miles Earn and Burn

 

[pyramidforce]

I'm not intelligent enough to figure out how to MS with Fluz. Buying GCs and then reselling them on dodgywebsite.com is the best I can come up with but is so absurd it can't possibly be right.

 

[levelnine]

I'm not intelligent enough to figure out how to MS with Fluz. Buying GCs and then reselling them on dodgywebsite.com is the best I can come up with but is so absurd it can't possibly be right.

It's dodgier than that.

But now it has been marked by Amex, I wouldn't take the time trying to figure it out.

 

[Franko Costa]

It's dodgier than that.

But now it has been marked by Amex, I wouldn't take the time trying to figure it out.

Yeah people were printing money with this so it doesn't surprise me

 

[US_Amex]

Whenever you take any sort of card offer from Amex (SUB, upgrade, retention), you have to keep the card open for another 365 days. You can cancel 366 days after the last offer was accepted (ie 366 days after the opening date, upgrade date, retention acceptance date) without clawback.

Hi Levelnine,

If I have a ABG from last September, and I take an upgrade offer to the ABP, do I get a prorata refund of the ABG ($190) and pay a prorata annual fee on the ABP ($350) until this September? Do I then have to pay the full annual fee on this upgraded ABP ($695) in September/October as I will have to keep the card until next Feb (366 days after upgrade offer)?

 

[levelnine]

Hi Levelnine,

If I have a ABG from last September, and I take an upgrade offer to the ABP, do I get a prorata refund of the ABG ($190) and pay a prorata annual fee on the ABP ($350) until this September? Do I then have to pay the full annual fee on this upgraded ABP ($695) in September/October as I will have to keep the card until next Feb (366 days after upgrade offer)?

Sept 2024: Open ABG; AF charged
Feb 2025: Upgrade to ABP; ABG AF prorated rebate; ABP AF prorated charge
Sept 2025: ABP AF full charge
Feb 2026: Downgrade to ABG via chat; ABP AF prorated refund; close ABG

 

[US_Amex]

Sept 2024: Open ABG; AF charged
Feb 2025: Upgrade to ABP; ABG AF prorated rebate; ABP AF prorated charge
Sept 2025: ABP AF full charge
Feb 2026: Downgrade to ABG via chat; ABP AF prorated refund; close ABG

Thank you! Makes sense the missing step is to downgrade and get a prorata refund!