The Definitive Amex 3X CLI Guide

[MyLoFICO]

Fantastic read. Just got approved for BCP and ED and came here to find out what its all about. Glad I did. 

[Anonymous]

I woke up to an email yesterday morning with a $500 cli. I figured what the heck, try and ask for 2x increase but got hit with the 7-10 day message.

That's fine with me as I'm appreciative of the limit I have. I'm one of the ones who barely got in the door with a $500 approval so it's only right to show more usage and nurture my BCE responsibly.

*corrected errors from typing on my phone*

[Anonymous]

How long have you had the card Grandmaster. If you don't mind what were your scores when you got the card versus what they are when you got the cli

[PrinceCorwin]

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@Anonymous wrote:

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@HeavenOhio wrote:

61 days after an account is opened.

91 days after a CLI denial.

181 days after a CLI approval.

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Just to clarify...

CARD ACCOUNT = the individual cards, i.e Amex BCP, Amex SPG etc...

CUSTOMER = the "primary" card holder, i.e the person who's credit was used/pulled to open the account.

181 Day Rule Overides 61 Day Rule -> i.e Amex #1 $8k SL opened Oct 1 2016, CARD eligible at 61 Days, 3x CLI reqest to $24k Approved Dec 1, 2016.  Amex #2 $2k SL opened Mar 1, 2017, CARD is eligible at 61 days, but    ...CUSTOMER is not eligible until 181 Days from Dec 1 2016. ( which is May 31 2017 )

91 Day Rule Overides 61 Day Rule -> see above, but assume 1st request was denied, then it would be 91 days from Dec 1 2016. ( which is March 2, 2017 )

61 Day Rule -> "CARDS" are eligible at 61 days to request a CLI, but the CUSTOMER is only eligible if it has been 91+ days since last denial for a CLI  OR  181+ days since their last approval for a CLI...across ALL OF THEIR CARDS.

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Good info. Thanks for the definitive clarification

BTW... PLEASE link me to how you setup the interactive info provided by hovering over the cards in your siggy. THAT'S AWESOME!

[Anonymous]

Thank you for the information.  Looks like I'm waiting until 6/22 for my first 3x CLI

[Anonymous]

Everybody is talking about the 4506T as dreaded.  Why is this dreaded?  If you are being honest about income etc. whats to dread?

[MyLoFICO]

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@Anonymous wrote:

Everybody is talking about the 4506T as dreaded.  Why is this dreaded?  If you are being honest about income etc. whats to dread?

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Most folks just don't want to give all that information out. That would be my issue. 

[Anonymous]

I can understand that, but I have a feeling that it's more the exception than the rule.  If somebody is willing to extend me a line of credit for 25K+ I think it is reasonable for them to want to verify income.  My gut is telling me there are some folks who may be exageratting thier income in hopes of getting higher credit lines.

I just don't see why people call it dreaded, it's not like they are cutting off your line of credit if you don't apply.

[UncleB]

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@MyLoFICO wrote:

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@Anonymous wrote:

Everybody is talking about the 4506T as dreaded.  Why is this dreaded?  If you are being honest about income etc. whats to dread?

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Most folks just don't want to give all that information out. That would be my issue. 

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The 4506-T isn't just POI, it's the entire tax transcript.  They get to see all your deductions if you itemize (medical, etc.) as well as have access to your spouse and dependent's social security numbers.  Since your minor children (if any) aren't customers, if there is a data breach it's questionable how much American Express would have to do to remedy the situation for them (same for your spouse assuming he or she isn't an AU).

For many people (including myself) that's just too much.  They have the right to request it, and we have the right to deny it - with the understanding that the card relationship will end, of course.

There's been lots of debate on here about this, with people of both opinions firmly entrenched... it comes down to you just have to do what's right for your situation.

[UncleB]

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@Anonymous wrote:

I can understand that, but I have a feeling that it's more the exception than the rule.  If somebody is willing to extend me a line of credit for 25K+ I think it is reasonable for them to want to verify income.  My gut is telling me there are some folks who may be exageratting thier income in hopes of getting higher credit lines.

I just don't see why people call it dreaded, it's not like they are cutting off your line of credit if you don't apply.

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If you get the 4506-T request during a CLI request, you're right, it can be ignored (you just don't get the CLI).

On the other hand, if they decide to do a financial review (FR) it's not optional - they freeze all of your accounts until you provide the requested information, and if you refuse the accounts are summarily closed.  It's the 'FR' that most people speak of dreading, although many conflate the two.