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AmEx CLI questions

Regular Contributor

AmEx CLI questions

A few questions re: my new AmEx account opened 5/17/17. I know the 31-day 3X CLI trick, and it's just past midnight here. I got the 7-10 day message and spoke with a rep through chat. She informed me that it is showing as a request on 7/16/17, as opposed to today (7/17/17--my 31 day anniversary). The rep said that because I was declined today, I have to wait for 90 days to even be considered. Is that true? I wanted to go to bed with some good news tonight. I might as well try tomorrow at work so that it actually appears 7/17/17 for the request.

 

Anyone have any insight into this, or did I just s**t the bed?

 

Thanks!

In order of use: Barclays Uber VS | BofA/ML (Merrill+, Cash Rewards) | AmEx (PRG, Delta Gold) | Discover | Chase | NFCU | Blispay

TU 704, EX 700, EQ 676 (11/30/2017)
Message 1 of 9
8 REPLIES
Established Contributor

Re: AmEx CLI questions

I tried for an increase a week or two ago as I've read some get them right away.

Told to call a # so I called and the very helpful CSR told me I had to have the card at least 60 days before I ask for an increase.

She was adamant that it was not a denial, just their policy.

I also asked twice about now having to wait 90 days and she said no, because I did not recieve a denial.
Message 2 of 9
Regular Contributor

Re: AmEx CLI questions

Gotcha. Well then how does the 3x CLI after 31 days work?

In order of use: Barclays Uber VS | BofA/ML (Merrill+, Cash Rewards) | AmEx (PRG, Delta Gold) | Discover | Chase | NFCU | Blispay

TU 704, EX 700, EQ 676 (11/30/2017)
Message 3 of 9
Established Contributor

Re: AmEx CLI questions

It's 61 days, read your own post, 5/17 to 7/17 is 61 days. LOL

Message 4 of 9
Regular Contributor

Re: AmEx CLI questions

WOW. Bad math.

 

They're still declining my CLI increase. Sucks. AmEx is $500 SL... next lowest is $1,200.... Boa Travel Rewards is $10K, Cash Rewards is $5K. I have a $10 balance on the card right now. Ugh.

In order of use: Barclays Uber VS | BofA/ML (Merrill+, Cash Rewards) | AmEx (PRG, Delta Gold) | Discover | Chase | NFCU | Blispay

TU 704, EX 700, EQ 676 (11/30/2017)
Message 5 of 9
Regular Contributor

Re: AmEx CLI questions

OP, I don't believe you'll get an increase at the 61 days since your starting limit was $500. I too received a $500 starting limit in Feb. 2017. After 5 statements with a reported balance, an auto CLI is expected, per Amex. My 5th statement closes on 7/18/17. I hope to see an increase on 7/19/17 and will report back here. We'll see! Your scores are similar to my current scores, which reminds me to update my sig scores. Sorry, but you'll get an increase one day soon, hopefully.

Starting Score:6/8/16: EX 585, TU 551, EQ 574
Current Score: 11/19/17: EX 680, TU 674, EQ 693
Goal Score: 700


Available CL:$80,450
Message 6 of 9
Regular Contributor

Re: AmEx CLI questions

They want you to carry a balance? I don't want to pay interest on the card. I use it several times per month, but always PIF.

In order of use: Barclays Uber VS | BofA/ML (Merrill+, Cash Rewards) | AmEx (PRG, Delta Gold) | Discover | Chase | NFCU | Blispay

TU 704, EX 700, EQ 676 (11/30/2017)
Message 7 of 9
Community Leader
Valued Contributor

Re: AmEx CLI questions


cmm89 wrote:

They want you to carry a balance? I don't want to pay interest on the card. I use it several times per month, but always PIF.


They want you to generate a statement and pay the statement balance prior to the due date.  You have a grace period of at least 25 days after the closing date where no interest is charged.  Interest would only be charged if, for example, you charged $1000 in June and your closing date was July 1st, you then only paid the minimum payment of say $30 prior to July 26th - the remaining $970 would then begin collecting interest.  As long as the "statement balance" has been paid prior to the due date, you will never accrue interest.

 

Going back to the original question, if Amex denies your CLI request because you asked too early it does not reset the 61/91/181 day clocks.  If they deny you for a reason like "too many recent inquiries," "revolving balances too high," etc... then you must wait 91 days before being eligible again.


$500k+ club. | FICO 08 [Nov 2017]: EQ 743 EX 741 TU 743 | World's worst gardener.
Message 8 of 9
Regular Contributor

Re: AmEx CLI questions

That makes more sense. Thanks, K-i-B!

In order of use: Barclays Uber VS | BofA/ML (Merrill+, Cash Rewards) | AmEx (PRG, Delta Gold) | Discover | Chase | NFCU | Blispay

TU 704, EX 700, EQ 676 (11/30/2017)
Message 9 of 9