Amex 3x CLI contemplation for a new guy. Hello!

Anonymous · ‎04-25-2017

Hello everyone! First post, and I must say I'm becoming mildly addicted! Everyone is so helpful here and this place has been a treasure trove of information for me!

My situation: I'm at day 61 tommorrow and contemplating pulling the trigger despite my average credit score. I applied for and recieved the BCE -$5000 CL, Platinum and Delta Gold $1500 CL on 2/24 even though my Exp was only 660 at the time. I suppose they like something about my profile. I lived debt free for years (I'm 49) and decided it was time to build a profile. Only negs are two old medical collections from 2010 that are unpaid (long story but it involved an ex-wife) and my utitilaztion hovers around 2% across the 7 cards I own (only have very small balances on two, rest report zero) and my annual income is 80K. After opening the new accounts my Exp dropped to a 650 so I'm thinkin I will probably be declined the 3X, but I think I'll pull the trigger regardless. I've run about $2000 through the BCE and a grand through the Platinum and both sit at zero balance now. Think I'll have a shot with the moderate score drop but good pay history and very low util?

Nice to be here and thanks for having me!

AllCredit · ‎04-25-2017

Have you looked at http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/18110...

I tried for my 61+ day CLI earlier this month, and my score has taken a minor hit for the new accounts (5 in total) I got an instant approval upon request....

Anonymous · ‎04-25-2017

First, I would wait a few extra days just to be safe. But that's me and I'm crazy when it comes to that stuff. I rolled with Day 64 for my 3X CLI attempt.

Everything with the 3X CLI in my opinion is relative. If you get a $1k SL or a $10k SL each of those profiles carries the relative strength to warrant a 3X CLI at that level when the time comes, assuming sound credit behavior in the meantime. As you said, you were approved with a solid $5k SL when your credit score was 660 at the time which obviously isn't great. As you stated, there was something they liked about your profile. Whatever that "something" is, it certainly still exists assuming you've acted responsibly over the past 2 months which you more or less stated is the case. Based on this, I wouldn't think a 3X CLI is out of the question. Perhaps they counter and meet in the middle at $10k, but it's still an achievement to grab a 5-figure limit when your score is currently sitting at 650.

Anonymous · ‎04-25-2017

Hey Allcredit. Yeah I've looked at a good portion of that thread. Actually stumbled upon it after I got my BCE in the mail. Good to hear about your CLI! Are your scores in my territory?

Anonymous · ‎04-25-2017

Thanks Brutal. I may take your advice and wait a few days beyond the 61. Is this so that I don't appear too eager?

Anonymous · ‎04-25-2017

I got my CLI on day 61 (my scores were higher though), though I don't think there is any harm in waiting for a day or two more (most do get it at day 61 if they qualify, though)

As to whether Amex will extend you more credit, I may be wrong about this (others, do correct me if I am completely mistaken), but I just checked my Spending Power on the Amex website to 15k (SL was 10k), and when it said it would approve, I thought why the hell not and asked for a CLI to 15k, instantly approved. I probably could have gotten a CLI to 25k or so, but didn't want to go that high on a 30k income. My scores were 720 or so, and I had spent around 1500 in the 2 months. Balance on the card when I asked for a CLI was around 100$.

Anonymous · ‎04-25-2017

@Anonymous wrote:
Thanks Brutal. I may take your advice and wait a few days beyond the 61. Is this so that I don't appear too eager?

Not so much that as just making sure you've given it enough days. There have been stories on here of people calculating it out 10 times and determining where Day 61 is and they report back a denial citing they were too early. I didn't want to worry about that, so I gave it 3 extra days.

BIGSTARXXX1 · ‎04-25-2017

@Anonymous wrote:
Hello everyone! First post, and I must say I'm becoming mildly addicted! Everyone is so helpful here and this place has been a treasure trove of information for me!

My situation: I'm at day 61 tommorrow and contemplating pulling the trigger despite my average credit score. I applied for and recieved the BCE -$5000 CL, Platinum and Delta Gold $1500 CL on 2/24 even though my Exp was only 660 at the time. I suppose they like something about my profile. I lived debt free for years (I'm 49) and decided it was time to build a profile. Only negs are two old medical collections from 2010 that are unpaid (long story but it involved an ex-wife) and my utitilaztion hovers around 2% across the 7 cards I own (only have very small balances on two, rest report zero) and my annual income is 80K. After opening the new accounts my Exp dropped to a 650 so I'm thinkin I will probably be declined the 3X, but I think I'll pull the trigger regardless. I've run about $2000 through the BCE and a grand through the Platinum and both sit at zero balance now. Think I'll have a shot with the moderate score drop but good pay history and very low util?

Nice to be here and thanks for having me!

Let us know how it goes - I am in similar situation. I was approved for BCE for 5K on 2/24. My Fico 8 Exp score was 689 at the time but it's now 778. I would normally think that is good for my chances of CLI , but the Amex site is still not reporting a Fico score (I understand that happens sometimes , and it may take another month) , so not sure what score they would use for the CLI. - I assume they would do another SP and see my new score - hopefully.

jdxprs1 · ‎04-25-2017

I can go for my 3x increase in early may. I checked my spending power today to see if it would let me take card limit to 2k and it said NO. I have a feeling I won't be approved for 3x increase. Only time will tell.

Fwiw, I've been running about 2k per month through the card.

Last app 1/2/2017.
In the garden until at least 6/2/2017.

AllCredit · ‎04-25-2017

@Anonymous wrote:
Hey Allcredit. Yeah I've looked at a good portion of that thread. Actually stumbled upon it after I got my BCE in the mail. Good to hear about your CLI! Are your scores in my territory?

Mine was a bit higher...I did wait a few days past 61 to be sure (maybe like day 64), my fingers are crossed for you!