Double Amex CLI day

[Sevenfeet]

OK, today we find out how well the Amex CLI process works.  My wife and i both old seperate BCP cards since we spend about $20K on groceries a year...a single $6K limit card would not be enough.  My wife got approved for a $8500 CL 75 days ago and I'm going to ask for a nearly 3X $25K line for her.  That will put her in a good state to apply for her Chase Ink business card for her new company by the end of the month.

For me, I began my BCP 100 days ago with a $20K limit and I'm looking to see if I can get $40K.  There don't seem to be a lot of data points on the ability to get a CL this big but since I'll be going over $34,500, I'm nearly certain I'll be asked for a 4506-T, which I'm ok with.  But since I paid my Amex Platinum last year from $39K down to $0, I think i have a shot.

[drinkthekoolaid]

I don’t see why you would not get an increase from your current credit lines. Worst case scenario they will counter offer you request if they do not fell like granting the full amount. It looks like if they were to grant you the $34,500 that would be your highest cc limit. Good thing Amex seems to be generous in that aspect, as long as the income supports the requested amount. The only thing I see being an issue is asking for such a large amount so soon as it might raise an internal flag! But if you can prove income you have nothing to lose since it’s a soft pull!

[Sevenfeet]

Hmmm, the first request for my wife just came back with the 7-10 day written response.  Hmmmmm, it may be just that they want a live person to look at it.  But considering our household income (over $150K) and my wife's scores (720+ FAKO Equifax), I'm wondering why it wasn't approved immediately.  It's giving me pause on my own request.

[RSCo]

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@Sevenfeet wrote:

OK, today we find out how well the Amex CLI process works.  My wife and i both old seperate BCP cards since we spend about $20K on groceries a year...a single $6K limit card would not be enough.  My wife got approved for a $8500 CL 75 days ago and I'm going to ask for a nearly 3X $25K line for her.  That will put her in a good state to apply for her Chase Ink business card for her new company by the end of the month.

For me, I began my BCP 100 days ago with a $20K limit and I'm looking to see if I can get $40K.  There don't seem to be a lot of data points on the ability to get a CL this big but since I'll be going over $34,500, I'm nearly certain I'll be asked for a 4506-T, which I'm ok with.  But since I paid my Amex Platinum last year from $39K down to $0, I think i have a shot.

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D. A. N. G!!!!!!  That's all...

[drinkthekoolaid]

They probably want a rep to look it over because of the large amount requested; I would try calling the rep or recon line @ 1-800-582-6471 and see if they can walk you through the approval process. It seems like you have a good credit profile.  You will probably get the same message as your wife did because of the large amount so if you have success with your wife account, I don’t see why you wouldn’t with your own card!?

[Sevenfeet]

I've asked my wife to call the number to review.  I'll know more a little later.

[improvingmycredit]

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@Sevenfeet wrote:

Hmmm, the first request for my wife just came back with the 7-10 day written response.  Hmmmmm, it may be just that they want a live person to look at it.  But considering our household income (over $150K) and my wife's scores (720+ FAKO Equifax), I'm wondering why it wasn't approved immediately.  It's giving me pause on my own request.

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Hey Sevenfeet!

Unfortunately, if you didn't recieve the CLI instanty when you request it.... 99% of the time it's a flat out denial.  The usual result is a counter offer if based on their internal score you are qualified for the requested amount. There is the posibility of the 4506-T request for this CLI request but I doubt it because it is below the 25K threshold.  I wish you the best of luck and hope it's the 4506-T request... thus you will have a chance at it.

Are you going to go for your CLI request?  

[NonSufficientFunds]

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@Sevenfeet wrote:

My wife and i both old seperate BCP cards since we spend about $20K on groceries a year...a single $6K limit card would not be enough. 

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If you're carrying a balance of $20,000 for groceries - and a $6000 limit is just not enough to carry you through between statements, you should look into getting the TrueEarnings card from Costco/American Express.

You would save some money on your groceries, earn rewards for what you spend, and you can carry a balance - AND qualify for the 3xCLI at day 61.

[Sevenfeet]

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@NonSufficientFunds wrote:

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@Sevenfeet wrote:

My wife and i both old seperate BCP cards since we spend about $20K on groceries a year...a single $6K limit card would not be enough. 

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If you're carrying a balance of $20,000 for groceries - and a $6000 limit is just not enough to carry you through between statements, you should look into getting the TrueEarnings card from Costco/American Express.

You would save some money on your groceries, earn rewards for what you spend, and you can carry a balance - AND qualify for the 3xCLI at day 61.

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The $6K limit on the BCP is what you're allowed to get cash back on for groceries (6%) and gas (3%) before the card defaults back to 1% rewards.  I've looked at the Costco Amex card and while I do shop at Costco either once or twice a month, I calculated that I'd save about $75 a year...not enough for me to get yet-another-card versus what i already have.

[drinkthekoolaid]

Did you go ahead and fill out your app? Since you can call the recon line yourself if needed? Ive read in multiple forums that if they were going to decline your CLI they would do it automatically when you apply for it. Since you got past that part it really just seems as they want a rep to review the app because of the large amount your requesting.