Applying for Amex SPG question..

[Anonymous]

I've decided to app for the SPG. I was given a CLI to 15K on my BCE on the 26th and am wondering if I should app before the new credit limit reports or after. I'm hoping for a decent SL and I'm not sure if my current limits will dictate the new SL or not. (if approved) Will Amex go off of the new credit pull to see current CL or use their current internal data?  Should I app now or after it reports, or does it even matter? -)

[simplynoir]

It doesn't hurt to wait first for the new CL to report before appying since I see it as a "double verification" since it'll match both the credit report and AMEX's own internal systems. Even then depending on your scores/income and AMEX's own regards on how much credit they're willing to lend to you, you might soon hit their threshold and be stuck with a low limit. It's a very YMMV situation once you get multiple revolvers with any lender. Luckily if it's a card you want and will use heavily in the future you can always transfer some of the limit from your BCE over to the SPG.

[Anonymous]

Thanks. My EX is 717 and I'm at 1% total util across the board. I have the BCE, Platinum and Delta Gold currently. The Delta is only $1500.00 but they approved it when my EX was only 646.  Stated income is 90k. I guess it's a roll of the dice with regard to the SL. 

[simplynoir]

If you're a long time customer with AMEX you might be surprised with a nice limit especially since you only have $16.5k total revolving credit with them atm. I think you'll be golden for at least a high 4 figure limit if not 5 figures with the combination of score, income and history.

[Anonymous]

The only negative in the equation might be the length of history with them. Only 6 months but decent spend of about 25K through my accounts, big payments always pif.

[simplynoir]

AMEX loves both of those things: high spend/usage and PIF. You should be fine when you app but strange things have been known to happen.

[Anonymous]

I wonder though would they be more likely to give me a good starting limit if they went off of the current reporting 5,000 limit or or the 15,000 that hasn't reported yet. I've heard instances where they gave a higher limit on subsequent approvals. Hmm.. Just wish I knew if they looked at internal data for instant approvals or what's on the new report they pull..

[GeorgiaBulldog]

I imagine you're good for a decent limit--you've put good spend on your AMEX so far so it sounds like you've got a healthy income (in my experience, debt-to-income ratio has been big on getting approvals from them).  They gave me 10.4k with a pretty modest income, esp. relative to my student loan debt.  And at the time I only had around 5 or 6 months history with AMEX with my Hilton card.  

My only advice is to get the incognito offer for 30k SPG points instead of the regular 25k offer.  In the odd event that you do get a lowish starting limit, it's likely temporary at best what with 3x CLI and all.  Can also do some limit shifting later on if you're inclined.

[simplynoir]

It's why it wouldn't hurt to wait because even though they normally do SPs for their CLI increases when requested, a lot of the determination is internal with payment history, usage, and so on. So, like GerogiaBulldog said I think your concern might have been valid had you been a new customer but with your established (even if limited so far) history with them they'll probably feel more comfortable extending you a larger SL especially since it's a travel card to boot.

[Anonymous]

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@Anonymous wrote:

I've decided to app for the SPG. I was given a CLI to 15K on my BCE on the 26th and am wondering if I should app before the new credit limit reports or after. I'm hoping for a decent SL and I'm not sure if my current limits will dictate the new SL or not. (if approved) Will Amex go off of the new credit pull to see current CL or use their current internal data?  Should I app now or after it reports, or does it even matter? -)

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I actually just posted about something similar to this. You can apply for 2 AMEX cards - even on the same day. I did that with SPG and EDP, both instantly approved and was only a SP. It never registered as a hard inquiry on any of my bureaus. If you want more detail. Just read my post. I hope that helps! (oddly enough, I think you may have already commented on that post, or perhaps it was a different one of mine. Either way, Good Luck!)

-PointsYoda