Approved for my smallest limit ever with great scores???

[Anonymous]

I am very upset. I have an Amex ED card with a limit over $30k. Applied for the SPG card for the sign up bonus and got approved for $2k. Why?? 2 inquiries no babbies and 6% utilization!?!? What am I missing here.... Scores are over 750. Chase approved me for $17k 3 weeks ago. Can I recon?

[austinguy907]

You're missing the fact that you're already 30K into your internal limit with AMEX.  Typically for younger accounts you hit a limit internally for about 34.5K before they start asking for a 4506.  If you don't like the limit then hit them up for a CLI and fill out the form to breach it.  In the meantime if your ED is over a year then you might be able to shift 8K over to SPG and then at your 3X bump SPG to 30K.

[Anonymous]

I chatted and the rep said I can move some of my limit if I want to after 2 months. Annoyed. I guess this card will just be maxed out for a couple of months to get the bonus and then closed.

[medicgrrl]

Could it be your income vs the current exposure holding it back?

[austinguy907]

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@Anonymous wrote:

I chatted and the rep said I can move some of my limit if I want to after 2 months. Annoyed. I guess this card will just be maxed out for a couple of months to get the bonus and then closed.

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Bingo!  Internal limit is in place and that's why they went with a $2K approval.

Collect your bonus and in 2 months roll the limit over to your other card instead of just closing and losing it.

[Anonymous]

That's the plan. Get the bonus and plan a trip then roll the 2k over to my ED card before the AF hits

[CreditCuriosity]

You don't have to wait two months if your donor card aka 30k card is 13 months old...If so you are fine and the world continues to go around.. I am on day 3 of waiting for SPG business card approval and I have a 28 ED card and a 22 SimplyBusiness and I am just waiting it out  

[Anonymous]

Let me know what your limit is!

[Anonymous]

My guess is your current 30k limit combined with a low AAOA is what made them go with a low SL for this card.  I wouldn't take it personally, a great score gets you in the door then the lenders start to pick through all of the other factors like income, AAOA, utlization etc.  I would move over a chunk of the 30k to this new card when you can and than go after a 3x CLI when your eligible.  

I have a 12k limit on my ED and they only approved me for 1k on BC which I find a bit irritating also, once I get a good CLI on my ED I will transfer over some limit the BC and 3x that one at some point.