Fidelity Amex CLI

[andyaycw]

Figured I'd document another experience with a Fidelity Amex CLI. Account opened in April earlier this year with a $7500 limit, called in today requesting $20k, counter-offered at $15k.

I used the backdoor number and was able to get to a sr. credit analyst. I told her I wanted $20k for utilization purposes, and I was then asked income and employment info. Pulled credit, then came back on the line to ask if I had any assets. I verbally listed my assets, and after another brief hold, came back with the counter-offer of $15k. Was told that $20k was not approved since the account was only 7 months old, but she did acknowledge that she saw I had several other accounts with higher limits but were also much older. I feel that I might be getting toward the high end of their exposure limit since they asked me about assets. 

Not sure which burea they pulled, but FICO scores were excellent.EX 794, EQ 787, and TU 776. 7 year credit history, and multiple credit cards already showing 5-digit limits.

Cheers. Now, on to getting that mortgage pre-approval...

[Creditaddict]

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@andyaycw wrote:

Figured I'd document another experience with a Fidelity Amex CLI. Account opened in April earlier this year with a $7500 limit, called in today requesting $20k, counter-offered at $15k.

I used the backdoor number and was able to get to a sr. credit analyst. I told her I wanted $20k for utilization purposes, and I was then asked income and employment info. Pulled credit, then came back on the line to ask if I had any assets. I verbally listed my assets, and after another brief hold, came back with the counter-offer of $15k. Was told that $20k was not approved since the account was only 7 months old, but she did acknowledge that she saw I had several other accounts with higher limits but were also much older. I feel that I might be getting toward the high end of their exposure limit since they asked me about assets. 

Not sure which burea they pulled, but FICO scores were excellent.EX 794, EQ 787, and TU 776. 7 year credit history, and multiple credit cards already showing 5-digit limits.

Cheers. Now, on to getting that mortgage pre-approval...

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What other limits you have that are higher?

I'm surprised if many of your other limits are more than $20k and with scores in high 700's it was a question unless you have some other high BofA accounts??

You could always move some CL?

I took $10k from a BofA 321 to move over to Fidelity to up the $15k approval to $25k total... now I wish I had her move the entire amount and close it :/

[coldnmn]

Congrats! Thanks for sharing.

[DollyLlama]

Did you request the CLI first before calling the backdoor number, or did you go straight to the sr. credit analyst?

Good luck on the mortgage! Compared to that, 15K vs 20K is small potatoes. I'd try again when the Fidelity reaches 1 year if I were you, or maybe 6 months from today.

[myjourney]

Congrats on the CLI and happy home hunting 

[andyaycw]

Creditaddict: 

Including the Fidelity Amex, I had a total of 9 credit cards, with limits listed as follows:

• Penfed Platinum Rewards $32.7k
• Amex Clear $20k
• Citi TY $17.5k
• Fidelity Amex $15k (was $7.5k prior to CLI)
• US Bank Cash+ $14k
• Discover It $12k
• Chase Freedom $8.5k
• Citi ProCash $3.6k
• Chase Amazon $3k

All things considered, it seems like Fidelity felt I should be happy with $15k, about the midpoint of my existing limits. Aside from that, my income is <60k annually, and the fact that they asked me for assets makes me think my DTI as they calculated it was borderline, and they wanted some compensating factor to approve a higher limit. Who knows...in any case, I think I'll be content with 6 of my 9 accounts with 5-figure limits. If and when I get a mortgage, I figure that will be the end of CLIs for the forseeable future as the mortgage payment would shoot my DTI through the roof compared to my current rent payment. 

DollyLlama: I went for the backdoor number first.Actually, the backdoor number on this forum's stickied thread was actually for some "credit acquisitions" department. The lady that first picked up thought I was applying for a new card. She told me I had the wrong number, but was able to get me transferred to a "sr credit analyst". So I guess, technically, the backdoor number still works. 

[Creditaddict]

Since fidelity is related to investing I think is why that question... Got that on my partners recon also.

[DollyLlama]

I asked for 20K myself on my Fidelity this week, and they countered with . . . wait for it . . . 15K too. No request for my assets, but 15K was "more appropriate for my income," which is similar to yours.

This was my third CLI request on the same day. I didn't feel like talking to another analyst, so I used the online request form instead but was told to call 1-800-294-5217. That number got me directly to someone who seemed to be a credit analyst. I didn't ask what his position was.

[alvon123]

congrats on the counteroffer