American Express has made a negative change when it comes to Amex credit cards. They used to allow someone to hold 5 American Express credit cards at one time, but that limit has been reduced. And what does that mean for you?
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27 comments
Any suggestions on getting past AMEX letting you get a card, but also getting the pop-up that says you wont get a bonus ? I closed my Platinum last June and I think that is what did it for me. I only have one other AMEX card so I don't feel like I'm gaming the system or anything. If you have a referral to the green card, that might be able to help.
4 is sort of on the edge if you're a hotel card keeper
Currently maxed at 4 (BBP, BBP#2, Delta, Bonvoy). Goodbye Marriott! I think I'll just keep that 4th slot open. Rule changes is why I applied for the Charles Schwab Platinum in March, to at least be grandfathered in for a bit, if access, bonuses, or the redemption rate were to change. Now is a great time to strategize that missing card(s), in line with much longer term goals.
your shirts are a size too small
I'm ok with that.
Unfortunate but it seems more of a precautionary measure to account for the current economic situation of the average US citizen. It's just affecting churners as a result of collateral damage.
I have 4 Amex cards plus the Amex plat. I literally just cleared the 2/90 limit today and gave it a shot applying for the Hilton Honors card and got approved bringing my total to 5 cards. Unsure if it’s luck, the type of card applied for, credit score and history with Amex , etc but I do fall into that outlier data point.
Technically not a bank. A financial holding company that owns two banks.
I'm sitting at 9 total, 5 credit cards. We shall see what the future holds 🤣
Long term strategy always wins. I think people misunderstand sometimes that the bonuses are just a part of it. The real value in this hobby is to establish your keeper cards first not just to lock them in if the banks start restricting, but to help your average age of accounts also.
I hold 3 personal, 1 business and 2 charge cards from AMEX. I use and pay all my cards in full each month. This is a good move for AMEX to protect themselves now and stop the churning. Sure, closing a card with history could hurt a bit to credit scores, but if you opening cards honestly and for long term values, this is not a big deal.
Even though Banks are following a matrix ruled about almost everything on theses days they are willing to Analyse cases individually when an opportunity arises, So yes they do have 4 cards rule or Chase with their classic 5/24 But If you are a private client for chase or a black card member in Amex case they will be bypassing that rule in a heart bit, I know people that have more than 3 reserved will the points and all benefits, so when your application is denied by the matrix your private banker will reach out to back office to bypass or override that rule. Thank you for video ✅✅✅✅✅
I have 4 charge cards and 5 credit cards. Haven't heard anything from them yet. I have no problem cancelling one of my credit cards.
I have 5 already. Bonvoy formerly SPG, Hilton Bus, Bonvoy Bus, Business Blue plus and Hilton honors downgraded from aspire. Green card and Gold for charge cards. I was thinking about getting rid of my Hilton card $0 AF to add one right back. Now I would have to drop 2 cards. To get one back. I’m probably just going to hold now…if I was to go to 3 I would drop the Hilton honors and Hilton Business. Business blue card is just too great and Bonvoy cards both get an annual free night.
Not really an issue for me. I prefer to only have a couple of cards from many different banks so I won’t have all my eggs in 1 basket. You gotta be flexible in the cc game.
Does authorized users count towards the 4 limit? Maybe 2021 is the year to maximize player 2. This could potentially give you 8 Amex options. Thoughts?
Does the Schwab Investor Card count in the limit>?
This makes it a little more difficult to get a well rounded Amex group of cards. There's so many good ones. Thanks for keeping the content credit card and travel related Dustin. You're almost 10k! Keep it up! Take care and stay safe!
Even Ramy & his wife, who has several different Platinums (vanilla, Charles Schwab, business, Mercedes Benz, etc) and the personal & business Gold cards, didn't reach 10 charge cards per person. I think the only rare people who can get 10 charge cards are if they own a corporation and can get the Corporate Plat, Gold, Green, the biz versions of all 3 plus the Plum (7 thus far), and the 3 personal versions.
Easy Walter wallet need to take it easy women don't like to hear that but it does make sense with that back hat
Amex just gave me a 5th credit card and they didnt even do a hard inquiry but i have super credit and pay it off as soon as things show up on my statement
Thanks for uploading content Waller. Stay safe
TEN charge cards?! Sheesh man lol. Nearly impossible! I applied for an Amex card last month and they called me and told me if I wanted it I would have to cancel one of my others. I did not take the offer because I didn’t want to ruin my credit age. It’s getting tougher!
I'm okay with that as I have three cards with them.
Probably just making sure they aren't overextending since it's an economic downturn.
Is this the (temporary) end of the Amex trifecta?
When you been here since the beginning seeing 100 views now 4k 😭