Requested via call 1-800-950-5114 whith Kathryn $26,000 reallocation from Citi Divdend Plat Selct (31k-26k=5k left) to Citi UPromise card (4.5k+26k=30.5k). After several holds and brief discussions concerning my Business card needing the credit line reallocation (of course she said to call the business unit), she said to check in 24 hours to see if the request goes through.
Since that line was sooooo familiar to FW lurkers like me, I pressed on asking 'why it takes 24 hours?' She said 'they have to be compatible.' I said 'are they compatible?' She said 'they are both Mastercard cards.' I said 'OK then so you are saying Matercard to Mastercard makes them compatible?' She said meek 'Yes' was her response.
I called back immediately and asked another rep to do the exact same thing (move 26k from Citi Dividend Plat Selct to UPromise). After a brief hold and an affirmative response on reallocation, she explained that she refers this to a credit review department for final say. She said I could check online in 8 hours to see if it went through or call back in as little as 4 hours.
We'll see what happens......
Edit: 2am 8/7 18 hours later nothing online has shown up. Edit: 9am 8/8 nothing..... Asked to move $25,000 from div plat select to Business card. "Tamitchell" said it was possible. She put the referral in. She sd to check back in 3-4 hours to see that it went through. Edit: 4pm 8/8 nothing..... Asked to move $26,000 from div plat select to Professional card. Rep said it was possible. She put the referral in. She also offered to move the other UPromise and ATT lines. I told her to move $4k of the UPromise. Edit: 6am 8/9 ALL IS GOOD. MISSION ACCOMPLISHED.
I called today for M&T app update because I entered my SSN as the EIN. I wanted to ensure the app was OK. I think since I listed my name with no "fname lname, Inc.", the status was pending as it was hung up on my DBA (I simply listed first name last name). They are continuing processing hopefully turns ok.
Edit 8/8/2007 : Approved for $10,000. They said "promotional" checks are included with the card carrier. I may just try this first if it works out as well for gorenbeinx as it did for lhendricks92 (Thanks for the data point, lhendricks92!)
markkundinger said: Capone gave you an instant-denial? That's harsh. For a bank that pulls from all three credit bureaus, they shouldn't be so picky about too many inquiries. The reason was not bureau realated... the link I was using was a stale offer-they never did a pull. markkundinger said: You applied for all three Discover cards at once? that might be a little too hardcore for them. I had not done enough FW homework. Good thing is: only one inq from Disc.
markkundinger said: When I attempted to reallocate between Juniper Personal and Juniper BankAtlantic, I was told it was not possible. I didn't try again or anything.I too was told impossible...It seemed as though the reps had dificulty locating the other card (ie personal rep often couldn't find biz and the reverse).
I'm uncertain regarding what to do with AMX. Comments are welcome. I made mistake in reallocation to personal card (I want higher personal lines for 2.0 and thought this would help that future cause). What to do with $64K? Is $30k check to spouse too much? Would it draw a FR? Or am I doomed for a FR already with a limit over $25k?
kjgco
Senior Member - 1K
posted: Aug. 9, 2007 @ 6:50a
jackcrawfish said: markkundinger said: When I attempted to reallocate between Juniper Personal and Juniper BankAtlantic, I was told it was not possible. I didn't try again or anything.I too was told impossible...It seemed as though the reps had dificulty locating the other card (ie personal rep often couldn't find biz and the reverse). When DW applied for a BankAtlantic card, the rep offered right away to reallocate $15K from Juniper personal. Since we don't use the card anyway, we took the offer. Go figure
Short-n-sweet: I was approved for $8,000 on the Chase Biz app. Told personal lines cannot be moved/co-mingled with business lines.
Detail: Called for the status of my Chase business app. Was transferred to what I was led to believe was the "lending" dept which needed some added information regarding the app (remember I report 0 years $0 revenue?) When the transfer went through I heard Chris answer as the Fraud department (uh-oh).
After briefly explaining what information I was looking for (app status) he placed me on a lengthy hold. He said the app needed a tax id. I said I am a sole proprietor and as such am using only my ssn as I will file this years tax return. After 11 minutes on hold again he abruptly transferred me to "Lending Services."
In less than 40 seconds, I discovered the $8k with no reallocation option (I'll call back later to try again as I understand per this link the reallocation is possible.)
I put in an online CI increase on my Chase Biz. It appears that they didn't take another credit report. I went from 8 or 9 K up to 19.5 (which is what I requested). It took about 12 hours to show up.
VerbalK said: I put in an online CI increase on my Chase Biz. It appears that they didn't take another credit report. I went from 8 or 9 K up to 19.5 (which is what I requested). It took about 12 hours to show up. Thanks for the free advice, VerbalK. Should I request a CLI? make a second attempt at reallocation? or both? hmmmmm BOTH I think. For others watching my inaugural run of apps, see this link regarding Chase reallocation from consumer to biz.
Ted2002
Thrifty Member
posted: Aug. 9, 2007 @ 7:17p
jackcrawfish said: I'm uncertain regarding what to do with AMX. Comments are welcome. I made mistake in reallocation to personal card (I want higher personal lines for 2.0 and thought this would help that future cause). What to do with $64K? Is $30k check to spouse too much? Would it draw a FR? Or am I doomed for a FR already with a limit over $25k?
I too am interested in what people have to say about a BT with AMEX. I have an IN:NYC card that I upped to 24.9k with a BT offer, and I can reallocate up to 24k to that card from another. What would be a safe course of action to maximize the BT and avoid the FR?
ChumChurum
Senior Member
posted: Aug. 9, 2007 @ 7:25p
jackcrawfish said: VerbalK said: I put in an online CI increase on my Chase Biz. It appears that they didn't take another credit report. I went from 8 or 9 K up to 19.5 (which is what I requested). It took about 12 hours to show up. Thanks for the free advice, VerbalK. Should I request a CLI? make a second attempt at reallocation? or both? hmmmmm BOTH I think. For others watching my inaugural run of apps, see this link regarding Chase reallocation from consumer to biz.
Be careful with Chase CLIs if large balances are showing on your CRA files.
Chase might approve you for a card automatically, but then when a someone from portfolio lending reviews your portfolio with them, you might run into consequences, as documented in the Chase adverse action thread.
Ted2002 said: jackcrawfish said: I'm uncertain regarding what to do with AMX. Comments are welcome. I made mistake in reallocation to personal card (I want higher personal lines for 2.0 and thought this would help that future cause). What to do with $64K? Is $30k check to spouse too much? Would it draw a FR? Or am I doomed for a FR already with a limit over $25k?
I too am interested in what people have to say about a BT with AMEX. I have an IN:NYC card that I upped to 24.9k with a BT offer, and I can reallocate up to 24k to that card from another. What would be a safe course of action to maximize the BT and avoid the FR?Not knowing all of your financial details, I would say from what I've seen in FW, <=30% utilization for AXP seems OK. I think I'll push for 45% and see what happens (I don't care if I get a FR bring it on). I'll be keeping my global personal credit below 50% utilized.
MikeR397 said: jackcrawfish said: I reported $0 income and 0 years in business for Discover Business Card. They called asking exactly how long I had been in business. I said I just started a few days ago. I'm pending currently but will be declined unless I can get Discover proof of business with e-bay sale(s) within 30 days. Any suggestion on what might sell quickly?I also haven't been asked for any proof for discover business. If you cannot come up with anything, tell them you are a new company and you need this credit to allow you to purchase some of your inventory and capital expenditures. If they have beef with it, so what, don't give them you business (ahh, or them really giving you their business, since you are the one profiting here (just do the best you can).
PS: I wouldn't get too stressed about Discover b/c they often give some pretty small lines. They were fairly stingy with all my family's apps despite high vitals and with my dad who has a legitimate business for 6 years with 60k revenue, they only gave him an 8k line. Arseholes.
I never told you... When I was first denied, the rep told me that if I faxed hard confirmation of my new business they could look at re-reviewing the application. I faxed them E-bay account and pay-pal account information showing my dba as fname lname. I called the credit department 8/8 asking to confirm receipt of the "documentation." They seemed surprised I even faxed the information (they never actually confirmed reciept). After a lengthy back and forth regarding how I'll execute my business plan, she said in the end I need a business license to get approved but that she would refer this app to her manager and "restart the application for me."
Voila! Tonight an email arrived stating the biz card is on its way! CL 3.5k! Reallocation from personal to biz submitted 8/10 9 AM cst.
Dang! Although redundant, thanks Mike for your leadership with respect to business card apps!
I added my game plan v1 in the OP. I hope to stick relatively close to this investment plan (unless I can get Citi to reallocate to the CitiBusiness card from the Professional and/or PremierPass.)
Veterans... where am I amiss? am I too conservative? too aggressive? Is my 6mo/12 game not going to work? Love to hear it.
jackcrawfish said: I added my game plan v1 in the OP. I hope to stick relatively close to this investment plan (unless I can get Citi to reallocate to the CitiBusiness card from the Professional and/or PremierPass.)
Veterans... where am I amiss? am I too conservative? too aggressive? Is my 6mo/12 game not going to work? Love to hear it.
Well, I'd definitely go 89% on personal BOA and CITI cards. Chase I'd go 89% too, but every now and then Chase gives some trouble to people (or so I read at FWF) -- so, what you're doing is, perhaps, Ok, except that it will take a couple of months to just pay back the $75 fee ... AM3X is touchy, so 45% is probably Ok. Others -- just calculate the difference of you earning in the current scenario and the 89% initial utilization scenario and see if it's worth the risk.
Do you have other cards (that you're not using) to bring your overall utilization down to about 50% (assuming you're going 89% on more cards)?
I had crazy reallocation success with Chase. First, I consolidated four other Chase biz cards. Then, I was able to bring over $16K from my Amazon/Chase personal card. I ended up with an $81K line. Nothing I read on FW lead me to believe my experience was unique. I will try the CLI that VerbalK recommends. Also, thanks for sharing the M&T experience. I am awaiting the results of that app as well and will call on based on your info.
gorenbeinx
Member
posted: Aug. 11, 2007 @ 11:06a
jackcrawfish said: I called today for M&T app update because I entered my SSN as the EIN. I wanted to ensure the app was OK. I think since I listed my name with no "fname lname, Inc.", the status was pending as it was hung up on my DBA (I simply listed first name last name). They are continuing processing hopefully turns ok.
Edit 8/8/2007 : Approved for $10,000. They said "promotional" checks are included with the card carrier. I may just try this first if it works out as well for gorenbeinx as it did for lhendricks92 (Thanks for the data point, lhendricks92!)
lhendricks definitely snuck one past them, because this didn't work for me. I called about 10 days after requesting the BT to HSBC savings through their website and was told that the transfer was denied because I didn't supply a 16-digit credit card number. I had them BT to Citi Business and it showed up in 3 business days.
You must be from California, Vermont, Rhode Island or Maine. National City Business recently stopped taking applications from people in these states.
markkundinger
Senior Member - 2K
posted: Aug. 11, 2007 @ 1:30p
Jack, I'd call your utilization plans moderately conservative. You don't see people targeting 60% utilization on individual cards, but it does keep your global utilization under 50%. I wouldn't expect too much grief (except for unknowables like AMEX)
cyberkost...Do you have other cards (that you're not using) to bring your overall utilization down to about 50% (assuming you're going 89% on more cards)? No Other Cards
Venturion......thanks for sharing the M&T experience...will call on based on your info. My pleasure. I only hope some of what I add is of value to future "investors"
gorenbeinx...You must be from California, Vermont, Rhode Island or Maine. South Dakota
markkundinger...I'd call your utilization plans moderately conservative I have added plan "2" in OP modified slightly in light of all comments received
Thanks to all for the feedback. green for everyone
lhendricks92
Senior Member - 1K
posted: Aug. 13, 2007 @ 11:42a
jackcrawfish said: markkundinger said: When I attempted to reallocate between Juniper Personal and Juniper BankAtlantic, I was told it was not possible. I didn't try again or anything.I too was told impossible...It seemed as though the reps had dificulty locating the other card (ie personal rep often couldn't find biz and the reverse).
Did you guys talk to the credit dept (there's a "special" number in the credit card issuer faq) or just a standard Juniper CSR?
On 8/6 ordered convenience checks online for my BankAtlantic Business card (per credit card issuer FAQ, BT checks was yes). I thought conv ck=BT ck NO way! TT Chantelle 8/11 and she said NO BT checks are ever issued. She said the conv checks I ordered online were CASH ADV rate not promo BT rate.
Checks arrived 8/13. I called "Lorell" to confirm understanding and ask for BT checks as check book reads: ...these checks give you the flexibility to access your available Cash Access Line at any time...your Cash Advance APR applies to these checks. I told her I wanted to pay several creditors but did not want to pay 3% for 9 BT's. I asked if ACH was an option = "NO." I asked if check to myself was an option = "use the convenience (cash advance) checks." Lorell advised me the only way to use the BT option is to BT another credit card.
I BT'd $20,000 to my new Citi UPROMISE (cr refund later) and $9,500** to my new ATT Universal card (cr refund later).
**I tried in vain canceling this $9500 transaction with "Denise" as I realized it was over my limit. I called immediately to change the amount and was told to call in before 3PM cst to modify the amount. Damn I hope this doesn't mess up the whole enchilada! I'll repost later the results of my 3pm call.
8/11 req CLI with BankAtlantic Biz... almost immediate email followed We're sorry that we couldn't fulfill your request for a credit line increase because further credit cannot be granted without financial statements information. You'll receive a letter within 7 to 10 days listing the documents that should be provided for further consideration
An inquiry just showed up today at Experian(8/14) for the 8/11 request. I asked them, why was an inquiry done 3 days after initial request. Credit rep explained it's standard as part of the review and that a secure message related to my bureau pull was sent to my inbox today. I see nothing as yet. I'll check later.
8/14 9:30am cst I'm attempting 2 BT's. One BT would put the balance over the line (20k+9.5k=29.5....cl=29k). I'm on the phone now to try and reduce my erroneous 2nd request for 9.5k. Still no record of BT's 2 hours after submitting them online.
8/14 3:30pm cst No record of requests. 8/14 7:55pm cst No record of requests. told to wait until tomorrow following after midnight postings.
8/15 9am cst THEY STILL DON'T HAVE RECORD OF THE TWO REQUESTS. "Denise" AGAIN STATED TO CALL BACK BEFORE 2PM CST TO SEE IF THEY SHOW UP. I SAID, "I don't mean to sound crass, but I was told that yesterday." She replied politely "this is the best option for you at this time. If there was something more I could do, I would."
EMAIL SENT THIS MORNING FOLLOWS REGARDING CHECKS FOR AMX IN:CHICAGO......
Customer (email@email.com) 08/14/2007 08:11 AM I just received checks.
Can I write it to another person who is a joint account holder with me & have them DEPOSIT it? I want to ensure this won't be treated as a cash advance. I plan to write the check at the end of the week for approx $22,000.
Please confirm my understanding that this would be an acceptable use of these checks. Thanks in advance.
RESPONSE 4 HOURS LATER Dear fname lname:
Thank you for contacting us via e-mail regarding the use of All Purpose Checks offered on your IN:Chicago Card account.
If the bank account that the check is being deposited in shows that you are a signer on the account, the check will be considered a Cash Advance and will accrue finance charges as such.
Please note that our records show that the available Cash Line of Credit on your account is $8,300.00 out of the total Line of Credit of $64,100.00.
I hope this information is helpful. If we can be of further assistance, please contact us.
Sincerely,
/M. Ardila Email Servicing Team American Express Interactive Services
I'LL ADD THIS INFORMATION TO Mike's THREAD LATER TONIGHT...
8/13... kristi called from Pulaski Bank to verify employment... I answered the call and transferred her to HR. She called me 10 minutes later: "we verified employment but still need a nearest relative."
I didn't think they actually verified that crap. I simply put my brother's fname with city and zip. for the addr1 i put "no way" for addr2 i put "in H_LL" I happily gave her my brothers REAL info with a laugh. She said a few of the 'other girls here' thought it was funny too.
WTF.... are they cross-selling to my brother? or just using him for collections' contact...?
jackcrawfish said: 8/13... kristi called from Pulaski Bank to verify employment... I answered the call and transferred her to HR. She called me 10 minutes later: "we verified employment but still need a nearest relative."
I didn't think they actually verified that crap. I simply put my brother's fname with city and zip. for the addr1 i put "no way" for addr2 i put "in H_LL" I happily gave her my brothers REAL info with a laugh. She said a few of the 'other girls here' thought it was funny too.
WTF.... are they cross-selling to my brother? or just using him for collections' contact...?
I would not touch Pulaski with a 10ft. stick, no matter how sweet their card(s) may appear. They pulled my CR, then said they'd need some personal and (imho) rather irrelevant info faxed/mailed to them. After I'd sent the info to them they denied me citing too many inquiries (they could have done it right after they got the CR , darn hypocrits).
jackcrawfish said: Requested via call 1-800-950-5114 whith Kathryn $26,000 reallocation from Citi Divdend Plat Selct (31k-26k=5k left) to Citi UPromise card (4.5k+26k=30.5k). After several holds and brief discussions concerning my Business card needing the credit line reallocation (of course she said to call the business unit), she said to check in 24 hours to see if the request goes through.
Since that line was sooooo familiar to FW lurkers like me, I pressed on asking 'why it takes 24 hours?' She said 'they have to be compatible.' I said 'are they compatible?' She said 'they are both Mastercard cards.' I said 'OK then so you are saying Matercard to Mastercard makes them compatible?' She said meek 'Yes' was her response.
I called back immediately and asked another rep to do the exact same thing (move 26k from Citi Dividend Plat Selct to UPromise). After a brief hold and an affirmative response on reallocation, she explained that she refers this to a credit review department for final say. She said I could check online in 8 hours to see if it went through or call back in as little as 4 hours.
We'll see what happens......
Edit: 2am 8/7 18 hours later nothing online has shown up. Edit: 9am 8/8 nothing..... Asked to move $25,000 from div plat select to Business card. "Tamitchell" said it was possible. She put the referral in. She sd to check back in 3-4 hours to see that it went through. Edit: 4pm 8/8 nothing..... Asked to move $26,000 from div plat select to Professional card. Rep said it was possible. She put the referral in. She also offered to move the other UPromise and ATT lines. I told her to move $4k of the UPromise. Edit: 6am 8/9 ALL IS GOOD. MISSION ACCOMPLISHED. After 5 unsucessful attepts, I was finally able to reallocate $7,500 from Professional & $2,000 from Premier Pass Elite to Biz (orig=15k now=24500). With the same rep, I had requested $4k from ATT Universal move to Biz (perhaps that portion of the move was denied - I'll check tomorrow).
Edit 1 hour later: Apparently, the minimum line for Universal is $1,000 because $3,500 showed as reallocated to the biz card! woooo-hooooo!..... One question I don't fully understand, though....
Online, the "managing account" of the biz card still shows $24,500 (Prof & PPAss realloc's). I just noticed only the ATT Universal realloc went to the actual biz card card number - the credit line for the biz card number = $18,500. Make sense? My question is: Can I only BT up to the $18,500 line or can I BT to the $24,500 line? I'll call Citi later today to inquire. Is there anyone else in FW who has had a similar Biz card experience?
SITUATION: 07/30/07 $15,000 Approved for CitiBusiness Card. Many thanks to OP - I still can't believe it..
08/15/07 With one rep/same call reallocated $3,500 from personal ATT Universal card, $7,500 from personal Professional card and $2,000 from personal PremierPass Elite. In total $13,000. I was expecting to see a credit line of $28,000.
QUESTION: 08/16/07 Online I see all three reallocations succeeded** However:
$3,500 was sent to the "Employee Line" (aka card account) new line = $18,500.
$7,500 + $2,000 was sent to the "Access Account" (aka managing account) new line = $24,500.
At this point I'm grateful to have finally had success after 5 unsuccessful reallocation attempts. But, can anyone tell me what is available for BT? The $18,500 or the $24,500? Should I call Citi and tell them they screwed up? Or should I "let it lie." Thoughts?
markkundinger
Senior Member - 2K
posted: Aug. 16, 2007 @ 10:10p
(duplicate post)
markkundinger
Senior Member - 2K
posted: Aug. 16, 2007 @ 10:10p
In my experience it takes a few days for parent/employee lines to settle down, but you should end up with the full amount eventually.
And congratulations on reallocating away from the PPE, that's a nut I haven't been able to crack.
you should be able to figure out how much you have available by logging in to citicards.com and requesting a BT, click on view offers, agree to the terms, and then it'll show you how much you have available to do a BT. then just cancel out or close your browser window.
markkundinger said: In my experience it takes a few days for parent/employee lines to settle down, but you should end up with the full amount eventually.
And congratulations on reallocating away from the PPE, that's a nut I haven't been able to crack. Thanks for the info... No change as of this morning....
(1)AMXI contacted AMX via secure-mail regarding check to spouse:
Customer (myid@yahoo.com) 08/16/2007 03:34 PM FYI.... I paid fname lname $24,560 with check #3000. Since this is the first transaction from this account, I wanted to inform you to honor this check once the creditor deposits the funds to their account.
Response (P. Anand) 08/17/2007 04:05 AM I appreciate your time and effort in informing us that you have submitted a check on the amount of $24,560.00 and would like this check to be approved....Rest assured, I have added this information on our records so that the check gets approved when it is received by the concerned department....
(2)Chase Biz card arrived (finally). Check was included. Will deposit today written to self. (3)Wells Fargo ACH initiated 8/11 has not yet posted to destination checking account. Wells said it should have posted by today so I need to call my destination bank to see what's up. (4)BOA: ...Initiated 2nd ACH from BOA 8/16 as the $12,750 BT pmt from NAT'L City showed up. I requested the max available $15,500 from BOA. (I thought there would be a hold on the 12,750 pmt but I guess not). A payment is still due BOA from M&T initiated 8/12. (5)Called BankAtlantic 8/16 to verify 2 BT checks issued as online they we no longer showing as pending (remember one of the checks was going out for 9,500 and going to make me OCL?). The rep said they both went out and she announced the 9,500 transfer as only $8,500!!! Whew.... I count my lucky stars that the multiple calls to reps asking them to catch the "overlimit BT" check and cancel or modify the amount actually worked... AHHHHHH The message the reps were giving me was "although you can see them online, we can't see them yet in our system. I'll submit to my supervisor for review." (6)Discover Biz BT $9,235 pmt to Wells Fargo initiated 8/12 arrived today (hasn't OFICIALLY posted but online available credit at Wells indicate that it has arrived). (7) Citi Still waiting for biz credit lines to "settle down" after reallocating from 3 personal cards (see yesterday's post)
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