08-15-2012 02:37 PM
So my wife has a great FICO score. Not sure right now but it was around just over 800 before her applications. Her problem was that she had a relatively thin file and basically used her 17k Wells Fargo card. In any case, she was eligible via being AU to member date of 1995. Used that to build out her credit file and keep her AAoA intact. She apped for SPG and BCP a couple of months ago. Today she was 80ish days on her 17k SPG card and 63 days on her 15k BCP card. Decided to ask for CLI on BCE card since it was the lower of the two cards. 3X rule says she could have requested up to 45k via automated system, but there are rumors of increase chance of F/R or denial or additional documents needed for 25k. In any case, via telephone, decided to wimp out a little but test that theory. Asked for BCP to go from 15k to 31k. APPROVED right away. So I guess 25k is just a rule of thumb. Remember your case might be different and she did start out with high limit and this was the 61 day CLI.
08-15-2012 05:44 PM
08-15-2012 05:47 PM
whahahah I wonder what other types of Amex myths are floating around.
|Starting Score: EX: 736 FAKO | TU: 757 FICO | EQ 730 FICO|
Current Score: EX: 736 FAKO | TU: 750 FICO | EQ 730 FICO
Goal Score: EX: 750 FICO | TU: 750 FICO | EQ: 750 FICO
|In my wallet: $12,500 $2,400 |
08-15-2012 06:35 PM
I wouldn't call it a myth per say. I think there is some bite in the myth. However, it personally confirms that no hard 25k limit exists. Personally, I would be worried about going too high as it is not a myth that at certain levels, fico ignores limit in util calculations for revolving debt. That's why I try to keep my limits to 30k. I forget exact amount when fico ignores it, but something like 30 to 40
08-15-2012 06:36 PM
I don't think people are saying that you can't request over 25 K, they are just saying as a "rule of thumb" its the safest. People have gone over 25K then been asked about income WAY more often after credit lines past that amount. That's just how I've always understood it, could be wrong.
08-15-2012 07:20 PM
Yeah, my brother has had his AMEX Blue for a few years and didn't realize the 3x rule AMEX has and he had a CL of $15k and was going to request to just request a CLI for $18-$20k. I told him about the 3x rule so he decided to just use the button on their site, but requested $35k and was approved instantly for $33.3k....not too shabby for a card just under 3yrs old and thats his only AMEX. He had $28 on it when he did the CLI and his score is 780-790 IIRC.
He made me an AU on that card last month, and I currently have had the Zync since June myself....I'm hoping by January to get the BCE or something better than my Zync.
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