3x CLI Experience 4 Those W/ Initial CL of $8500 or More?

[changingmantra2]

There is a lot of talk about the 3x CLI and the 4506T form.  I know that there are no quarantees with any CLI request -but for those of us who are curious -  what was the experience of those of you who had an initial CL $8500 or more and requested 3x CLI?

1.  What was your starting limit?

2. What was your CLI request?

3. Approved - Denied - Countered or 4506T?

4. If you completed the form - what was the outcome?

5. What other factors do you think contributed to outcome?

[awp317]

I cant speak for my own expereince but my mother has an optima platinum with a 24k limit. I told her to try the 3x limit and see what happens. So we did. She has perfect credit, 800 plus all around, has had the optima since 1984, works for the government and has for over a decade making a 6 figure salary and has a healthy investment portfolio. So we did it, requested a 3x limit to 74000, got the 7-10 day. They sent a letter that requested tax returns for two years, proof of assets, and proof of any other sources of income. We sent that all to them, and never heard from them again, this was 6 months ago. Calling them says they have no record of the inquiry even. Kinda strange. I didnt expect them to approve 74k, but maybe counter with 35-40k or something. Before the crash she had quite a few cards in the 80-100k limit ranges but most of those ether got slashed or closed. 

But I do know that anything above 25k results in asking for proof of income, or 35k accross your amex cards. Heck I was asked for proof to up my card from 2-6k and was still declined. But they let me carry on my platinum card so IDK if thats included in the mark or not. Sometimes they do sometimes they dont, I just say its best never to lie to them as you never know when they might question something. 

With amex though I look and say why not becuase its usually just an SP. To be safe you might request like 24,900 or something unless you are comfortible submitting your 1040s, which hoenstly I cant understand anybody caring about sending that in. 

[changingmantra2]

Wow - I did not know they would ask for income verification for a CLI request to $6000.  Thanks for sharing -

[azguy13]

I will let you know in about 2 weeks. My starting limit is $9,400 and I will be requesting just under 3X CLI

[changingmantra2]

---

@azguy13 wrote:

I will let you know in about 2 weeks. My starting limit is $9,400 and I will be requesting just under 3X CLI

---

Are you going for the full 3x?  Good luch with it -

[awp317]

I was asked after I tried to recon my first denial, as always with credit YMMV.  Their final reason for denail was "your fico score is too low" it listed my fico score as 733 so IDK what they what to be honest. NEver having missed a payment on anything IM not sure what more they could ask for, my only vice is I have a heafty amount of inquiries. So im cooling down for a good year or so, unless I see a good  lease deal on a car I like lol

---

@changingmantra2 wrote:

Wow - I did not know they would ask for income verification for a CLI request to $6000.  Thanks for sharing -

---

[shanac]

---

@changingmantra2 wrote:

There is a lot of talk about the 3x CLI and the 4506T form.  I know that there are no quarantees with any CLI request -but for those of us who are curious -  what was the experience of those of you who had an initial CL $8500 or more and requested 3x CLI?

1.  What was your starting limit?

2. What was your CLI request?

3. Approved - Denied - Countered or 4506T?

4. If you completed the form - what was the outcome?

5. What other factors do you think contributed to outcome?

---

I was approved for the BCP w/an $8500 CL. When I attempted to double my credit limit on the 61st day (I was hesitant to ask for 3x CLI), Amex countered w/$15,100 and I happily accepted. IIRC, my overall debt as well as my CL w/Amex in relation to my income was a factor in them not giving me more. Perfectly fine w/that!

[fungoman]

25k does not mean 4506t. 10k starting requested 30k and instant approval.

[09Lexie]

---

@fungoman wrote:
25k does not mean 4506t. 10k starting requested 30k and instant approval.

---

^^exactly!  Amex can and will ask for a 4506 anytime your reported income/assets need to be verified. 

[longtimelurker]

---

@09Lexie wrote:

---

@fungoman wrote:
25k does not mean 4506t. 10k starting requested 30k and instant approval.

---

^^exactly!  Amex can and will ask for a 4506 anytime your reported income/assets need to be verified. 

---

Right, but the point of the question, I assume, is to try to determine some rules when it "needs to be verified"!

So my recent history which obviously isn't following ask for 3x!

$25K, requested $35K (I think), 4506-T.  Got 28K with reasons account too new and CL not being used

$28K -> $34K  immediate approval

$42K (after moving limits), requested $50K, 4506-T, approved for $50K