I have quite a list with them haha, I love how the charge card apps slide right through and don't count against the 2/90 rule! I grabbed the Amex Platinum card a few days ago, Chase and C1 won't touch me for quite some time Amex was the obvious premium travel card for me!
Great video! I was actually approved for 2 new business cards in 2 days. I got approved for the delta business reserve and then 2 days later I got approved for the blue business plus card.
Seems like one of those rules that gets bent depending on how aggressive Amex is being at the moment. Congrats on the cards and thanks for the data points
Loving these kind of breakdowns. I can imagine these will be some that stay evergreen and I can come back to when I need them in the future. In general, I think it would be hard for me to get too many Amex cards, mostly because I don't have the money to pay for too many annual fees lol.
@Shawn Amex cards definitely give you a ton of value. How many cards you have with them really depends on your spending habits and what credits you'll naturally get value from. The Citi Premier is likely a solid addition as well! I'm excited to hear how you like that one.
Chase is just more straight fwd than Amex, and the "Freedom" line is more apropos when it comes to Chase as opposed to Amex. When a bank starts to dictate how much spend to put on their cards...our $$ is no longer our $$. Good stuff RJ👍🏾
Half of banks issues with people breaking the rules is that they never tell you the rules in a reasonable way... yes its in terms but so are the rewards earnings and look at how they spell that out on the main page
Slick move sir. It's still possible to play the system a bit. It's one of those things that Amex and other issuers can easily tell and block if they want to. I'm convinced it depends on how close they are to hitting goal in a specific time
Man. Amex credit cards are addicting lololol. I currently have 4 personal cards and 1 business card. But I don’t wanna push it too far with another personal card rn.
I think you'll be ok so long as you stick to the approval rules honestly. Could also consider doing a product change or transferring/reducing credit limit if you wanted to hedge.
5 Credit Cards and 10 Charge Cards seem like plenty. BTW, Capital One has finally released a business version of the Venture X! Now I can just product change Spark Miles.
I agree, they only have a few CC's worth keeping anyways. I did see that. Not out to the general public yet but for existing relationships. I'll talk about it on Sunday then maybe a full vid when it's live to everyone.... unless this goes like ink premier and never hits the main site. Overall looks like a good card, worth the PC for sure.
@@RJFinancial Yeah, I tried to product change already, but they don't have offers set up yet. I was told to call back in a week or two. Spark Miles is costing me $100 a year, upgrading will be cheaper with the credits, on top of the additional perks. Combined with the Ink Premier, should it become available, I would definitely have a premium 2% setup for the business!
I'm really glad u made this video man. Learning the rules from issuer to issuer really helps. Like rn I have 3 approved offers from Chase to apply for guaranteed but since my status is 5/24 I already know I'd get denied or at least why I would if I did. It's tempting but since ik these rules they help me make better financial decisions and time my applications right. Awesome video like always RJ!
Those pre-approval offers use to get around 5/24 but I think they've cracked down on that as well. I've been trying to build out all the vids that folks would need to get started in the game. Glad it's proving useful
@@RJFinancial so the offers in my Chase account are actually pre approvals even though they say "You're approved?" Cuz the Chase Sapphire Preferred even said my limit was five to be 5k even though that's the bare minimum it starts with.
Agree. It seems to work due to the charge cards covering MR points then cobranded for CCs. If your cash back then they only have two cards you'd likely want.
It's interesting, I've seen a few folks say similar things. Yet every major outlet has this as the rule. I kinda think it's up to amex and maybe about how aggressive they want to be with selling products
What do you mean that they would clawback and be upset by using their credits and coupons? I find that highly disturbing. I understand that they could become suspicious and angry if you manufacture spend by buying gift cards? But but using their own coupons? Can you elaborate please? Thanks. It was specifically between 9:50 and 10:08 that you mentioned this
Basically if Amex does an account review and sees that the credits/coupons have been misused according to the terms and conditions, they can claw back the coupon or points earned. This is done by charging the card for the amount they they feel was misused. The video below covers the amex rewards abuse team. Amex is known for being sensitive to these things. Other issuers do it but Amex is by far the worst. ruclips.net/video/gKPwy6IUDok/видео.html
RJ, You know I have to watch the video to support you. :) I have zero AMEX cards and can't get approved for them right now. Oh Well still good information to know.
Popup jail... In the past, all these data points about needing to put thousands of spend on every card to get out of popup jail was pure NONSENSE. Speaking from experience, all it took before was just $1/statement on every card. Viola. But now...things have changed...and who knows what it is. Could also be the economic cycle (recession) that has them limiting their own credit exposure. Hard to say. I can understand limiting NEW customers. But if you've been with them for 10+ years, then that history/loyalty should mean something. Sadly, it doesn't.
I'll do a separate vid on ole pop up jail. I don't believe you need that much spend. More so an active card to your point. We've seen issuers change card dynamics especially on the cobranded side to encourage use over desk draw cards. The relationship banking doesn't go as far as people think. Even the classic apply in branch to improve odds only works because it's a sales floor with a motivated person and not an automated system
@@RJFinancial No, former veteran yes- no waivers- most of the cards within the last two years- got retentions offers on most- slowly unwinding as I just closed bus plat and gold card- will be closing schwab plat later this month - really like marriott cards and hilton cards and 1 delta card- playing upgrade downgrade game now
Thanks for the video , In May I got the Amex Business Marriot and Biz Prime within 4 days. I can apply for the BBP in Oct 2022, that’s also when I plan too upgrade my Hilton surpass, with an offer if available. Thx again.
That is handy, didn't know that. I wish other issuers would adopt these things. It's in their best interest as approvals are one thing that make people nervous, so let them know more info upfront
Yes, it's the same as the platinum on the main Amex page. Amex owns resy so their using it as another way to market. Plus resy is a food/dinning platform, that's why we see the extra bit of bonus for dining spend
Those were super helpful but odd rules. I can see where they’re coming from. Who needs that many credit cards that quickly? Unless they’re trying to churn them for rewards and bonuses.
Great video RJ!!! Is the 2/90 rule for credit card or charge card or both? How many credit cards can you cancel after/within 1 year of use from Amex and Chase? Thanks RJ!!!
2/90 covers all cards I believe. I've canceled my platinum and gold, both after 2 years of use. Still have my delta platinum card for now. You're allowed to cancel any cards that you want tho. I wouldn't hold onto a card and pay the fee simply to try and make amex happy tho
No, those are considered different products and in different product families even tho they are essentially the same card. Banks don't care too much about how much credit another bank has issued you. They're only interested in protecting their risk based on how much credit they'll extend you ruclips.net/video/karoLbjlMhc/видео.html
I applied for the Amex Delta Gold got approved $10k may30 Now can I apply for Amex Marriott Bonvoy bon card 5 or 6 day later what are my chances of approval . What do you think
Great video RJ. One question… Any data points that suggest holding say $25k+ cash in an Amex HYSA account influences Amex underwriting/approvals? Just curious on that. Thanks again for the great videos!
I haven't seen any. My understanding is most card underwriting is automated, since it's all stated income. The relationship portion of approvals can come into play when applying in branch which Amex doesn't have of course. I'd say it could come in handy if you were trying to get a CL increase or ever targeted for a financial review.
Hi RJ, could you go into more details of "using coupons and credits on the card can set AMEX off"? I am somewhat confused and concerned ... Many thanks
The Saks credit for example, $50/every 6 months. Most people want to buy a gift card and save them up to buy something. It's against the terms to do this. So if you try Amex will likely claw back the credit by adding a $50 charge to your card.
Sup RJ! Couple of questions for the peoples of the internet: 1) I currently have 5 Amex credit cards across business and personal. 3 of them are business and are under my Sole Prop. I’m currently trying to figure out if I can open new business credit cards under my LLC and get around the 5 card limit since it would be my social on the Sole Prop cards and the EIN of my LLC. Anybody have experience with this? 2) Some DPs across the internet say that it’s possible to beat the once in a lifetime rule by cancelling the card and waiting the 10 years for that account to fall off of your credit report before applying again. However, we know once you have an account with Amex they effectively start their own credit profile for you. So it’s likely they’d be aware. Again, anybody have an experience with this one?
1. In theory it should work. I know it works with chase to get multiple Ink card bonuses. I haven't seen anything official about it and Amex is so sensitive that I feel like it may get blocked. Can't confirm tho. 2. I've seen that reported as well. I've also seen card offers with no lifetime language come up from time to time. I tend to agree with you, that Amex is going to keep a customer data base and be able to tell. If it does work, I'm guessing it's more because Amex is allowing it than we're sneaking back in.
Good question. They don't. Those cards are on the Amex payment network. Meaning Amex helps facilitate payments (similar to a Visa/MC). They aren't issued by Amex so they fall under the rules of the issuing bank. Wells or Navy Fed.
There's not a hard rule on credit limit. There is a chance that if you request more or hit certain levels like $25k on a card or $35k combined that it may trigger a financial review but it's also based on other factors. ruclips.net/video/vfXgcEGNVuM/видео.html The card limit we touched on. It also varies from year to year it seems. 4-5 CC's counting personal and biz, 10 charge cards.
HELLO RJ. What steps do I need to follow to get the Chase flex bonus again or even the freedom unlimited. I got approved for the flex on 01/12/22 Freedom Unlimited I don't have it yet
Freedom line rules are you're eligible for a bonus every 24 months and you can't currently hold the card. So when you hit the 2 year timer it's easiest to PC to the OG freedom then maybe wait until the billing cycle closes then have it for round two. You can still get the CFU bonus even having gotten the CFF, two separate products.
@@RJFinancial I meant get the freedom unlimited bonus twice or more like the flex. But I don't think we have the option to revert to original og freedom the same way we do with the flex. Unless I'm mistaken
@@guaparra2 Ok, Now I get it... it's a function of how fast can you do it. Most issuers make you hold the card for one year before you can PC. Also the freedom 24 month bonus rules would come into play. So if you got a CFU on 8/1/22, the next time you could get a bonus is 8/1/24
"From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand." Matthew 4:17 "But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also." Matthew 5:39/
Thanks for tuning in! More of a cash back fan? Get an easy $50 from GO2 Bank here - ruclips.net/video/Ewf--a2YcIo/видео.html
I have quite a list with them haha, I love how the charge card apps slide right through and don't count against the 2/90 rule! I grabbed the Amex Platinum card a few days ago, Chase and C1 won't touch me for quite some time Amex was the obvious premium travel card for me!
I got the biz platinum myself. Don't care for them, but they do have some of the best offers
"The phone reps might not know..." brings up the acronym HUACA: hang up and call again. 😉
And talk to another person... the worst lol. Be surprised, it does get results.
Great video! I was actually approved for 2 new business cards in 2 days. I got approved for the delta business reserve and then 2 days later I got approved for the blue business plus card.
Seems like one of those rules that gets bent depending on how aggressive Amex is being at the moment. Congrats on the cards and thanks for the data points
Loving these kind of breakdowns. I can imagine these will be some that stay evergreen and I can come back to when I need them in the future. In general, I think it would be hard for me to get too many Amex cards, mostly because I don't have the money to pay for too many annual fees lol.
That's the goal sir. Build out all the content folks would need to play the game. These vids do ok ish at launch but overtime they pay off
@Shawn Amex cards definitely give you a ton of value. How many cards you have with them really depends on your spending habits and what credits you'll naturally get value from. The Citi Premier is likely a solid addition as well! I'm excited to hear how you like that one.
Chase is just more straight fwd than Amex, and the "Freedom" line is more apropos when it comes to Chase as opposed to Amex. When a bank starts to dictate how much spend to put on their cards...our $$ is no longer our $$. Good stuff RJ👍🏾
Half of banks issues with people breaking the rules is that they never tell you the rules in a reasonable way... yes its in terms but so are the rewards earnings and look at how they spell that out on the main page
I got 4 cards in two days back in May. Two business and two personal. Business Gold, Business Green, Hilton Honors and Delta Platinum.
Slick move sir. It's still possible to play the system a bit. It's one of those things that Amex and other issuers can easily tell and block if they want to. I'm convinced it depends on how close they are to hitting goal in a specific time
@@RJFinancial Trust i wont try that again. Im gardening now for a while. Gonna go sit my butt down somewhere now
Man. Amex credit cards are addicting lololol. I currently have 4 personal cards and 1 business card. But I don’t wanna push it too far with another personal card rn.
I think you'll be ok so long as you stick to the approval rules honestly. Could also consider doing a product change or transferring/reducing credit limit if you wanted to hedge.
5 Credit Cards and 10 Charge Cards seem like plenty. BTW, Capital One has finally released a business version of the Venture X! Now I can just product change Spark Miles.
I agree, they only have a few CC's worth keeping anyways. I did see that. Not out to the general public yet but for existing relationships. I'll talk about it on Sunday then maybe a full vid when it's live to everyone.... unless this goes like ink premier and never hits the main site. Overall looks like a good card, worth the PC for sure.
@@RJFinancial Yeah, I tried to product change already, but they don't have offers set up yet. I was told to call back in a week or two. Spark Miles is costing me $100 a year, upgrading will be cheaper with the credits, on top of the additional perks. Combined with the Ink Premier, should it become available, I would definitely have a premium 2% setup for the business!
I'm really glad u made this video man. Learning the rules from issuer to issuer really helps. Like rn I have 3 approved offers from Chase to apply for guaranteed but since my status is 5/24 I already know I'd get denied or at least why I would if I did. It's tempting but since ik these rules they help me make better financial decisions and time my applications right. Awesome video like always RJ!
Those pre-approval offers use to get around 5/24 but I think they've cracked down on that as well. I've been trying to build out all the vids that folks would need to get started in the game. Glad it's proving useful
@@RJFinancial so the offers in my Chase account are actually pre approvals even though they say "You're approved?" Cuz the Chase Sapphire Preferred even said my limit was five to be 5k even though that's the bare minimum it starts with.
They should switch the card limits. 10 credit cards and 5 charge cards instead of how they currently have it :D
Agree. It seems to work due to the charge cards covering MR points then cobranded for CCs. If your cash back then they only have two cards you'd likely want.
I’ve gotten 3 Amex cards (gold, plat and a Hilton card) in less than 3 months 🤷♂️
It's interesting, I've seen a few folks say similar things. Yet every major outlet has this as the rule. I kinda think it's up to amex and maybe about how aggressive they want to be with selling products
What do you mean that they would clawback and be upset by using their credits and coupons? I find that highly disturbing. I understand that they could become suspicious and angry if you manufacture spend by buying gift cards? But but using their own coupons?
Can you elaborate please? Thanks.
It was specifically between 9:50 and 10:08 that you mentioned this
Basically if Amex does an account review and sees that the credits/coupons have been misused according to the terms and conditions, they can claw back the coupon or points earned. This is done by charging the card for the amount they they feel was misused. The video below covers the amex rewards abuse team. Amex is known for being sensitive to these things. Other issuers do it but Amex is by far the worst.
ruclips.net/video/gKPwy6IUDok/видео.html
My boy always got that black shirt on lol good vids though 😂
Haha I have three + the long sleeve button up versions. It makes things easy
RJ,
You know I have to watch the video to support you. :) I have zero AMEX cards and can't get approved for them right now. Oh Well still good information to know.
Ah sometimes with these guys your not missing a whole lot. Some good cobranded stuff but you already know my opinion on them
Popup jail... In the past, all these data points about needing to put thousands of spend on every card to get out of popup jail was pure NONSENSE. Speaking from experience, all it took before was just $1/statement on every card. Viola. But now...things have changed...and who knows what it is. Could also be the economic cycle (recession) that has them limiting their own credit exposure. Hard to say. I can understand limiting NEW customers. But if you've been with them for 10+ years, then that history/loyalty should mean something. Sadly, it doesn't.
I'll do a separate vid on ole pop up jail. I don't believe you need that much spend. More so an active card to your point. We've seen issuers change card dynamics especially on the cobranded side to encourage use over desk draw cards.
The relationship banking doesn't go as far as people think. Even the classic apply in branch to improve odds only works because it's a sales floor with a motivated person and not an automated system
I have 5 credit cards - and 6 charge cards
Amex's number one fan here lol. I'm guessing military annual fee waiver on the charge cards?
@@RJFinancial No, former veteran yes- no waivers- most of the cards within the last two years- got retentions offers on most- slowly unwinding as I just closed bus plat and gold card- will be closing schwab plat later this month - really like marriott cards and hilton cards and 1 delta card- playing upgrade downgrade game now
Thanks for the video, man! I better ramp up some spend before applying for the Hilton Aspire.
You can check the popup jail before and to know for sure. I'll do a separate vid on it coming soon
@@RJFinancial Thanks, man!
Thanks for the video ,
In May I got the
Amex Business Marriot and
Biz Prime within 4 days.
I can apply for the BBP in Oct 2022, that’s also when I plan too upgrade my Hilton surpass, with
an offer if available.
Thx again.
Having a roadmap in this game is critical. Like where your headed
Max Amex credit card allowed is 4 not 5. Five credit cards are the old rule.
It seems to go between 4-5 so I put both on the slide. I to thought it dropped to 4 then I saw a TPG post saying it's 5 at the moment
Amex has an “application status authentication” that tells you application dates. I always reference before applying for another card.
That is handy, didn't know that. I wish other issuers would adopt these things. It's in their best interest as approvals are one thing that make people nervous, so let them know more info upfront
Would the Resy platinum card be considered the vanilla platinum card for the bonus then or is it separate?
Vanilla
Separate cards. I got the bonus for both
Yes, it's the same as the platinum on the main Amex page. Amex owns resy so their using it as another way to market. Plus resy is a food/dinning platform, that's why we see the extra bit of bonus for dining spend
Those were super helpful but odd rules. I can see where they’re coming from. Who needs that many credit cards that quickly? Unless they’re trying to churn them for rewards and bonuses.
It's funny, all these guys build products they want to sell. Then people want them and they get nervous and add rules
@@RJFinancial way too many hoops to jump through. For the bank I work for, you can have 1 of every card they offer with few limits.
Great video RJ!!! Is the 2/90 rule for credit card or charge card or both? How many credit cards can you cancel after/within 1 year of use from Amex and Chase? Thanks RJ!!!
2/90 covers all cards I believe. I've canceled my platinum and gold, both after 2 years of use. Still have my delta platinum card for now. You're allowed to cancel any cards that you want tho. I wouldn't hold onto a card and pay the fee simply to try and make amex happy tho
Can you product change from standard platinum to Schwab?
Should we reduce credit card limits to maximize credit card approval odds at another bank?
No, those are considered different products and in different product families even tho they are essentially the same card. Banks don't care too much about how much credit another bank has issued you. They're only interested in protecting their risk based on how much credit they'll extend you
ruclips.net/video/karoLbjlMhc/видео.html
Great rundown of Amex.
I applied for the Amex Delta Gold got approved $10k may30
Now can I apply for Amex Marriott Bonvoy bon card 5 or 6 day later what are my chances of approval . What do you think
Technically you’re able to based on what we know. I like to do 30 days but why not give it a go if they’ve got an offer you like
Great video RJ. One question… Any data points that suggest holding say $25k+ cash in an Amex HYSA account influences Amex underwriting/approvals? Just curious on that. Thanks again for the great videos!
I haven't seen any. My understanding is most card underwriting is automated, since it's all stated income. The relationship portion of approvals can come into play when applying in branch which Amex doesn't have of course. I'd say it could come in handy if you were trying to get a CL increase or ever targeted for a financial review.
It's *supposed* to increase your approval odds...but I can tell you from experience that it makes no discernible difference.
Hi RJ, could you go into more details of "using coupons and credits on the card can set AMEX off"? I am somewhat confused and concerned ... Many thanks
The Saks credit for example, $50/every 6 months. Most people want to buy a gift card and save them up to buy something. It's against the terms to do this. So if you try Amex will likely claw back the credit by adding a $50 charge to your card.
@@RJFinancial how about the other AMEX offers? Am I in trouble if I mostly do spending on a card only if there is an AMEX offer?
Sup RJ! Couple of questions for the peoples of the internet:
1) I currently have 5 Amex credit cards across business and personal. 3 of them are business and are under my Sole Prop. I’m currently trying to figure out if I can open new business credit cards under my LLC and get around the 5 card limit since it would be my social on the Sole Prop cards and the EIN of my LLC. Anybody have experience with this?
2) Some DPs across the internet say that it’s possible to beat the once in a lifetime rule by cancelling the card and waiting the 10 years for that account to fall off of your credit report before applying again. However, we know once you have an account with Amex they effectively start their own credit profile for you. So it’s likely they’d be aware. Again, anybody have an experience with this one?
1. In theory it should work. I know it works with chase to get multiple Ink card bonuses. I haven't seen anything official about it and Amex is so sensitive that I feel like it may get blocked. Can't confirm tho.
2. I've seen that reported as well. I've also seen card offers with no lifetime language come up from time to time. I tend to agree with you, that Amex is going to keep a customer data base and be able to tell. If it does work, I'm guessing it's more because Amex is allowing it than we're sneaking back in.
Let me ask do these rules apply to 3rd party Amex cards like the Wells Fargo Propel or the Navy Federal Credit Union More Rewards?
Good question. They don't. Those cards are on the Amex payment network. Meaning Amex helps facilitate payments (similar to a Visa/MC). They aren't issued by Amex so they fall under the rules of the issuing bank. Wells or Navy Fed.
@@RJFinancial Thank you for the reply. I sppreciate it.
Is the 1 in 5 recent? I think I've heard of people applying for multiple amex cards in one day
You can try to do it. I believe it has worked in the past but it's one of those things that Amex could easily catch if/when they want to.
What about Amex total credit limits and individual card credit limits?
There's not a hard rule on credit limit. There is a chance that if you request more or hit certain levels like $25k on a card or $35k combined that it may trigger a financial review but it's also based on other factors. ruclips.net/video/vfXgcEGNVuM/видео.html
The card limit we touched on. It also varies from year to year it seems. 4-5 CC's counting personal and biz, 10 charge cards.
@@RJFinancial cool thanks...I'm at 26.9k on hhonors surpass no FR or other issues so far, total limit 31.4k .
I’m at 32,900. No review yet. Might add the marriott brilliant in the future and pass the 35k limit
HELLO RJ.
What steps do I need to follow to get the Chase flex bonus again or even the freedom unlimited.
I got approved for the flex on 01/12/22
Freedom Unlimited I don't have it yet
Freedom line rules are you're eligible for a bonus every 24 months and you can't currently hold the card. So when you hit the 2 year timer it's easiest to PC to the OG freedom then maybe wait until the billing cycle closes then have it for round two.
You can still get the CFU bonus even having gotten the CFF, two separate products.
@@RJFinancial I meant get the freedom unlimited bonus twice or more like the flex.
But I don't think we have the option to revert to original og freedom the same way we do with the flex.
Unless I'm mistaken
@@guaparra2 You can PC any of the freedom or sapphire cards to the OG freedom. I did this with my CSR and no questions asked.
@@RJFinancial so I can apply for the freedom unlimited on 08/01/22 pc to og freedom then apply for the unlimited again and get the bonus again.
Great
@@guaparra2 Ok, Now I get it... it's a function of how fast can you do it. Most issuers make you hold the card for one year before you can PC. Also the freedom 24 month bonus rules would come into play. So if you got a CFU on 8/1/22, the next time you could get a bonus is 8/1/24
Someone had to be numero Uno!!!
Spirit award to you this evening, appreciate it!
👍 for the algorithm
"From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand." Matthew 4:17
"But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also." Matthew 5:39/