Strategy to obtain US Amex

[GerrardGerrard]

My credit limit is only $5k on my HSBC US credit card, do you think I could pay off my balance before the statement is produced to free up my credit limit?

I know over paying is generally frowned upon but is there a possibility of account closure if I do?

 

[albyd]

Aside from credit balances in credit cards, American banks call paying down our accounts and running them up again in the same billing cycle “credit cycling” and they don’t like it. Best to try to get a limit increase. How long have you had your card for? Usually 6 months since your last limit increase or since the credit card approval is a good rule of thumb.

 

[_TheTraveller_]

Does anyone have the CSR or CSRB? Wanted to get your thoughts on the value proposition on these cards if you were to hold them long term.

I originally wanted to get the CSRB so it doesn't count towards ?/24 but I'm not sure I can hit 40K AUD in 6 months and CSR's values a bit hit and miss for the long term.

 

[albyd]

I hold the CSR. Tried for the CSRB in July but got declined as I had gotten my ink Preferred in Feb so Chase felt that was too soon and I had too much credit with Chase relative to my income and limits at other banks. I ended up converting my CSP to CSR.

In short, I think the CSR/CSRB cards are worth it if the credits are usable for you otherwise a less expensive card like CSP is better value so you're not trying to get as many offsets from the credits (coupon book) to lower your effective AF. I think the $300 Travel credit in its current form is reasonably easy to trigger and I use the Apple credits. The balance we'll see. I also use the bonus spend categories. Maintaining Hyatt transfers at 1:1 was one of my motivators to get the card. If Hyatt doesn't move the needle for you, get the CSP if you don't already have it.

YMMV.

 

[DC3]

I'm not sure I can hit 40K AUD in 6 months

If they don’t close you down first.

Sorry about that. I just didn’t have a great experience with them. All history now. Let us know how you get on.