@Anonymous wrote:
@this is how it ended up? You have been dealing with this for weeks! I can't believe they did this. Why ask for the income verification if tonjust give you $700? Did they not take into consideration your use of the card besdies the last month while this was going on? And who they @?!$ wants $700 when you have a $50k limit anyway? That's an insult almost-and btw my OCD could not handle that either. Sorry this is how it ended up. At least it wasn't Disco. That's the boat I'm in-it's more upsetting when it is your favorite company/card... but Amex would be my 2nd, and I would have expected more from Amex. This is a Synch or Barclays move.
You have to look at this from Amex's side, when they give someone a credit line increase they have to book that increase on their books. Why would Amex want to increase it's outstanding loan limits 100k for some that barely uses their product. I totally understand why Amex did what they did and if OP really wants that limit run some serious coin through them. <mod edit>
Debate is welcome, but we must keep things FSR. --UB
Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
@Anonymous wrote:
@redpat wrote:You have to look at this from Amex's side, when they give someone a credit line increase they have to book that increase on their books. Why would Amex want to increase it's outstanding loan limits 100k for some that barely uses their product. I totally understand why Amex did what they did and if OP really wants that limit run some serious coin through them. <mod edit>
Well, I think this exercise proves where the line can be drawn with Amex. What you stated above can be said of many others as well, just with smaller numbers. I recently pushed my CL with Amex from $30k to $35k without IV and that was with running no more than $2k (sometimes less than $1k) through the card every cycle. If I'm running $1k through a $35k card, that's like running $1.5k through a $50k card which in no way constitutes "serious coin."
The result of this exercise shows that Amex will bump someone up that's only using 3%-4% of their credit limit each cycle if their limit is below a certain point, but once the limit gets high enough 3%-4% usage isn't going to cut it. I think the DP of this thread helps us to see that.
Most already knew what the DP outcome would be before it was even done.
@Anonymous wrote:
He said he didn't expect it - Just like it is "crazy" for someone with a 600 FICO to ask Sych for 10k a month after Approval, (tons do it and everyone tells people to) you do it in hopes of getting a counter offer, which is what he said he was hoping for.
This place gets more and more like CB on a daily basis. Remember to try and be kind to each other. No need to tell anyone they are crazy.
I for one am thankful we have people like Austin who does try to gather DPs with companies so we know how they work. If we didn't, how do we learn their policies? Look at all the data we have on Discover now thx to him.
There is nothing wrong with being critical, I was kind and this was crazy no matter how you look at, IMO. A 835 score means nothing when one is looking to get that kind of CL.
BTW all the Discover data was already on other threads long ago, there is nothing new there. Search, discover gravy train, discover gravy train has returned to mention a few.
@austinguy907 wrote:While it's not the expected outcome when you think of AMEX it's how they choose to give out the CLI's. I accept I don't use them as much as some do around here that might actually use 50% of that limit but, I would rather not spend that much to warrant the extra limit. As to the Barc/Sync.... they would have probably chopped it down to $5K or something silly just because that's how they operate. When I say Disco / Amex are a good pair of cornerstones in building a solid foundation this actually is a good outcome in comparison to what they could have done. It's all in stride and now I have an idea of what they're looking for if I want a bigger limit. I just can't substantiate spending that much on the card when it makes more sense to keep cash in checking and maybe paying additional principal on my mortgage instead of finding things to spend on Amex. Life w/o the nagging debt feels better than a $150K limit anyday!!! I might just have to call that UW I spoke with last week and figure out where the hell they came up with $700 for an increase. Then again It's probably not worth the 10 minutes or less on the phone talking with her again. I'm over it and just counting the days for Disco since the 1st is coming up soon enough. They didn't balk at the request at all as if some other lenders would grill you for 30 minutes by phone for such a request. It just wasn't in the cards w/o the spend that makes them money. Disco has been getting that spend for the 5% since 1/1 for Sam's
It's funny how that 5% actually adds up for normal spend each month.
Thanks for providing all the DP for Amex and Discover as well. They have helped me tremendously!
I am working on my rebuild and I have been running 90% of my charges thru Amex and Discover. But my spending is peanuts and will continue to be peanuts because of the bolded above!
Thanks again for all you do!
@Anonymous wrote:
@redpat wrote:There is nothing wrong with being critical, I was kind and this was crazy no matter how you look at, IMO. A 835 score means nothing when one is looking to get that kind of CL.
I don't think he ever realistically expected to see a $150 CL approval. I do, however, think that expecting a counter offer above $50,700 would have been perfectly rational. I think you're getting a bit too hung up on the magnitude of the CLI request when the attempt here was to shoot high and see if something else would be offered.
See that's where we differ, using $1,500 or $2,000 of a 50k credit limit time to time and then asking for a CLI of any kind is irrational to me.