AMEX ED Question

[Tomgon1981]

Just received my amex ed card with a crazy low SL of $500 so my question is what is the best way to use the card to get the best chances at a cli

[Anonymous]

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@Tomgon1981 wrote:
Just received my amex ed card with a crazy low SL of $500 so my question is what is the best way to use the card to get the best chances at a cli

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Use it heavily and pay it off in full each month.  Do this even if you have to make multiple payments each month.  What is your file like now?  If it's decent you probably can get the 3X CLI as soon as you activate it

[CreditCuriosity]

500 SL means you were very much borderline on approval in my opinion.  I would use it HEAVELY for the first say 55 days after getting it then request 3x CLI so that will make it 1500...  I wouldn't personally do a 3x right off the bat on a SL that started that low, I am guessing as stated you barely got approved, but if you can provide your EX fico score and AAoA that would help us a bit.  Just my 2 cents on the subject

[Tomgon1981]

Ive heard on here that with that SL I barely got in the door with amex I'm just glad to be in the door with them my ex score is 638 and my AAoA is 1yr 8 months

[Anonymous]

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@CreditCuriousity wrote:

500 SL means you were very much borderline on approval in my opinion.  I would use it HEAVELY for the first say 55 days after getting it then request 3x CLI so that will make it 1500...  I wouldn't personally do a 3x right off the bat on a SL that started that low, I am guessing as stated you barely got approved, but if you can provide your EX fico score and AAoA that would help us a bit.  Just my 2 cents on the subject

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Not so sure that a low starting CL is indicative of borderline approval.  Buggers only gave me $1K and I've had no problem getting approved for their cards and early approval for the 3X CLI. Without knowing what his credit looks like it's impossible to know what he should do.  

[CreditCuriosity]

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@Tomgon1981 wrote:
Ive heard on here that with that SL I barely got in the door with amex I'm just glad to be in the door with them my ex score is 638 and my AAoA is 1yr 8 months

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Ya IMO use it heavely for the first 55 days plus once you get it do multiple PIF's and then request in with a 0 balance...  Just my opinion..  You want them to feel comfortable with you and your credit profile is a bit on the weak side, so this would increase your chances IMO

[Anonymous]

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@Tomgon1981 wrote:
Ive heard on here that with that SL I barely got in the door with amex I'm just glad to be in the door with them my ex score is 638 and my AAoA is 1yr 8 months

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Then you should wait at least a couple months before trying.

[CreditCuriosity]

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@Anonymous wrote:

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@CreditCuriousity wrote:

500 SL means you were very much borderline on approval in my opinion.  I would use it HEAVELY for the first say 55 days after getting it then request 3x CLI so that will make it 1500...  I wouldn't personally do a 3x right off the bat on a SL that started that low, I am guessing as stated you barely got approved, but if you can provide your EX fico score and AAoA that would help us a bit.  Just my 2 cents on the subject

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Not so sure that a low starting CL is indicative of borderline approval.  Buggers only gave me $1K and I've had no problem getting approved for their cards and early approval for the 3X CLI. Without knowing what his credit looks like it's impossible to know what he should do.  

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I agree as I got a 10k CL with them and your profile is far superior to mine.. Who knows...  But OP did state his scores, I still say wait for him now that you see it.  As stated it is obviously a role of the dice, but more favorable upon waiting in this case

[Tomgon1981]

That's kinda what I was thinking I'll put my other cards aside for a few months and focus strictly on the amex

[JustBPatient]

Congrats on the approval!!