I think the answer is no, but I wanted to ask anyway. I have a significant balance on my Blue account. I was wondering if I could transfer that balance to the Amex LOC if I get approved. Being that it is the same company I wasn't sure if this was possible. Otherwise I was going to apply for a Generations Card and transfer the balance to them. I just wanted a tradeline that did not report to the bureaus. Any ideas? Thanks in advance. Dani
Write a line of credit check & deposit it in your bank account,then write your regular check to the account you wish to pay. Ta Da....simple solution without any complication. Sister Girl
Never send anyone an Amex LOC check. Amex LOC accounts operation is VERY unstable. A single returned check would turn your Blue account delinquent. Only use the LOC checks as deposits to your own checking account. BTW - What is your LOC APR ? Saar
Sister Girl, How long, once approved, does it take to receive the package? Thanks for your help. Dani
Saar, I haven't applied yet. I was just curious since I'm carrying a large balance on Blue at 12.99%. I want to transfer that balance to a card or credit line with a rate lower than 9.99%. Would you suggest another card (or line) other than Amex's LOC because they are still pretty unstable? Thanks. Dani
Hey Dani, I don't have the AMEX LOC acct,but I do have one w/Bank One since 3/95 that I've been quite pleased with. When I paid off my First USA Visa,I did it with a Bank One line of credit check deposited to my checking,then did online pymt from checking to the First USA account(both are Bank One products). Sister Girl
Dani, if you do not convert your Blue to a 9.9% product, or a 10.9% max, you'll have business with me! Call Blue CS now! No matter what the rep says, insist that they put in a request for Account Services to lower your APR. Unlike our past unpleasant APR reduction experience w/ the Blue, this time the 9.9% product is now offered again. Mine was lowered to 9.9% two months ago. So forget what any individual rep may have told you before -- this is the real thing. Saar
Same old song and dance. She put in a request and the supervisor told her no that I would have to reapply. I asked the supervisor if there was anyway around it? Nope, only to be reapply. Ugh! What do I do at this point? An interest rate of 12.99% is too high. Ooh, I just had an idea. Amex gave me conversion checks for purchases. The interest rate is 8.9% (this is how I paid for my propane tank). If I write one to myself and deposit it in my checking account and then payoff Amex with my own check. The balance then would be at 8.99 instead of 12.99. Or it would be charged at a cash advance fee of 18.99%...yuck. I don't know if this would work though. At this point I'm lost. Dani
What the rep/super said is not important. At first, I was told the same. Still, I said I would not hang up until they put in a request for Account Services. The rep said, "it won't work, but if you insist..." 2 days later, Account Services lowered my APR to 9.9%. I have 2 statements and a letter from an Amex Executive Assistant to prove my new rate. Saar
I finally applied for the Amex LOC. I got the message "thank you for completing application..making every effort to complete enrollment and notify ASAP" This is bad, isn't it? Anyone else get this? Dani
