topic Re: Amex BCP credit limit increase in Credit Cards

Amex BCP credit limit increase

FutureBillionaire — Mon, 24 Dec 2012 16:35:25 GMT

I've seen mentions of a 60 day CLI with BCP and BCE. Is this a soft pull? Do we have to request it, or does it auto pull? I've had mine since August. I got a generous limit, but some of you have mentioned a 3x increase. What's the deal with this?

Re: Amex BCP credit limit increase

chnceit — Mon, 24 Dec 2012 17:10:05 GMT

Yup its a soft pull and its not automatic, its a customer initiated CLI request. You can request to increase 3 times your current limit 61 days after activation. Example 2k current request to 6k. If denied then AMEX could counter offer or deny you all together.

Re: Amex BCP credit limit increase

kevinjjc — Mon, 24 Dec 2012 22:50:07 GMT

What chnceit said. Also, it's supposedly 3X up to 25k.

Re: Amex BCP credit limit increase

greenpang — Mon, 24 Dec 2012 23:56:56 GMT

I've been meaning to ask this...

DH and I both got our Amex BCEs in July 2012.

My initial CL: 4k

DH's initial CL: 2.5k

I didn't know about the 3x CLI yet when I requested my increase (early November) and stupidly only asked for 8k. (Kicking myself now, that card should be at 12k!)

We called DH's next and figured we'd ask for higher since I got the 8k I requested. He requested 15k and got 7.5 (makes sense... 3x 2.5).

Anyone know how this will factor into my next CLI? I'll ask for another in May.

Re: Amex BCP credit limit increase

armbenderc — Tue, 25 Dec 2012 02:53:58 GMT

greenpang wrote:
I've been meaning to ask this...

DH and I both got our Amex BCEs in July 2012.
My initial CL: 4k
DH's initial CL: 2.5k

I didn't know about the 3x CLI yet when I requested my increase (early November) and stupidly only asked for 8k. (Kicking myself now, that card should be at 12k!)
We called DH's next and figured we'd ask for higher since I got the 8k I requested. He requested 15k and got 7.5 (makes sense... 3x 2.5).

Anyone know how this will factor into my next CLI? I'll ask for another in May.

You can ask for another 3x cli in May (6 months after your 61 days) for up to 25k and sometimes more. Some people are getting over 25k, but some gets FR for asking over 25k.

Re: Amex BCP credit limit increase

iloverewards — Sun, 13 Jan 2013 04:00:50 GMT

armbenderc wrote: You can ask for another 3x cli in May (6 months after your 61 days) for up to 25k and sometimes more. Some people are getting over 25k, but some gets FR for asking over 25k.

Is the 6 mo. Cli subject to a 3x ceiling too?

Re: Amex BCP credit limit increase

nicholasyud — Sun, 13 Jan 2013 04:03:22 GMT

To anyone give a wrong information about CLI :

How can I apply for a line of credit increasefor my American Express Card?

We do not increase an account's credit limit during the first 60 days after it has been opened, or for at least 6 months from the last credit limit increase. After that time has passed, if you are still interested in applying for an increased credit limit, you can check to see if you are eligible to change your credit limit online by logging into your account and going to your Profile & Preferences or you can call the number on the back of your Card to speak with one of our customer care professionals.

Re: Amex BCP credit limit increase

ficojoe — Sun, 13 Jan 2013 04:15:07 GMT

Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

Re: Amex BCP credit limit increase

bs6054 — Sun, 13 Jan 2013 04:19:28 GMT

ficojoe wrote:
Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

It's not a real FR, just a request for you to send them a 4506T, so they can get a transcript of your tax returns. If you refuse, your account stays open, you just don't get a CLI. (In a real FR, your accounts are frozen before they notify you).

I have only one Amex, so I can't tell! Others haven't mentioned being asked for this below $25K per card though, although that doesn't make too much sense. (If Amex needs proof to go beyond $25K on one card, it would seem it should ask for that on combined credit lines). Maybe a poster here with multiple cards adding up to more than $25K can tell.

Re: Amex BCP credit limit increase

ficojoe — Sun, 13 Jan 2013 04:28:54 GMT

bs6054 wrote:
ficojoe wrote:
Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?
It's not a real FR, just a request for you to send them a 4506T, so they can get a transcript of your tax returns. If you refuse, your account stays open, you just don't get a CLI. (In a real FR, your accounts are frozen before they notify you).

At least half of my income in tax-exempt, I'm not sure what AmEx would do if they looked at my tax returns. I correctly reported my income, which can be supported through bank statements, but my tax returns do not reflect my actual income.

My local credit union only gave me credit for about 1/3rd of my income after reviewing my taxes.

Anyhow, I want to avoid a FR.

Re: Amex BCP credit limit increase

bs6054 — Sun, 13 Jan 2013 04:47:48 GMT

ficojoe wrote:
bs6054 wrote:
ficojoe wrote:
Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?
It's not a real FR, just a request for you to send them a 4506T, so they can get a transcript of your tax returns. If you refuse, your account stays open, you just don't get a CLI. (In a real FR, your accounts are frozen before they notify you).

At least half of my income in tax-exempt, I'm not sure what AmEx would do if they looked at my tax returns. I correctly reported my income, which can be supported through bank statements, but my tax returns do not reflect my actual income.

My local credit union only gave me credit for about 1/3rd of my income after reviewing my taxes.

Anyhow, I want to avoid a FR.

Well the first step is always tax returns, because they are considered more official I guess, but others report conference calls between Amex and your bank which could then be used to support your statement of income.

Re: Amex BCP credit limit increase

OhioCPA — Sun, 13 Jan 2013 11:06:39 GMT

ficojoe wrote:
Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

Per card. I hear that for combined the ceiling is $34,500.

Re: Amex BCP credit limit increase

CruzImperial — Sun, 13 Jan 2013 14:30:46 GMT

I would like to hear someone confirming the combined ceiling.:( that's too little

Re: Amex BCP credit limit increase

OhioCPA — Sun, 13 Jan 2013 16:55:21 GMT

CruzImperial wrote:
I would like to hear someone confirming the combined ceiling.:( that's too little

That was a combined ceiling without docs. I am currently at $34,000, and would like to have one card increased, so I am very interested in clarification as well. What I heard was from an Amex CSR that stated when someone called in for a CLI above $34,500 they were instructed to ask for docs.