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Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: AMEX Hates Me?


kevinjjc wrote:

trumpet-205 wrote:

CreditScoreBlueprint wrote:

Well, for comparison... my NFCU card has a limit of $22,000 and my USAA card has a limit of $19,000.

You know that lender like AMEX also look at your total credit limit with other lenders. Having too much can be a factor for denial. Reason being you can run up charges and default. It is Murphy's law: "if things can go wrong, it will go wrong".


OP does not have too much available credit.

 

Here are my stats:

 

181,050 total credit card limits

+ 40,000 total LOC limits

--------------------------------------------------

= 221,050 total revolving credit limits

 

 

                           CC/LOC                                            LIMIT

 

American Express Blue Cash Everyday             $17,300
Bank of America Platinum Plus Visa                  $12,500
Chase Freedom Visa Signature                          $18,000
Discover More Card                                                $15,000
JCPenney/GECRB                                                  $5,000
Walmart Discover/GECRB                                    $10,000
Navy Federal nRewards MasterCard                  $25,000
PenFed Visa Gold Card                                         $35,000
PenFed Platinum Cash Rewards Card              $15,000
Staples/Citi                                                               $3,250
USAA Rewards World MasterCard                      $10,000
US Bank Cash+ Visa Signature                           $15,000
Navy Federal LOC                                                   $15,000
PenFed LOC                                                            $25,000

 

 

Oldest Account Age: 13.4
Average Account Age: 6.8


Well, we don't know if that was why they denied the OP a CLI, but "too much credit" presumably depends on several things, including income and credit history.  Your accounts are pretty old compared to the average user on these forums.  Also, OP is self-employed which may create extra red flags. 

 

Or, maybe, they just hate him as he suggests!

Established Contributor
linux007969
Posts: 594
Registered: ‎04-20-2012
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Re: AMEX Hates Me?


trumpet-205 wrote:

CreditScoreBlueprint wrote:

Interesting. I wasn't aware that you couldn't put business expenses on an AMEX personal card. It's sort of ridiculous, considering they're still making money off you.

 

What about my NFCU and USAA personal cards. Can I put business expenses on them?


Most personal card prohibits business expenses; you have to read T&C for that. However most lender put a blind eye about that, exception being AMEX. AMEX is known to do adverse action if they find out about business expenses.

 

It is not ridiculous, since business credit card charges higher swipe fee than personal card. There is also the fact that Congress criticized lenders when they blured the line between personal and business credit card.


What about their personal charge cards, could they shut me down if they find out if i'm putting an expence for work on it? Lately i've used my credit cards to put a few orders of Microsoft license products on them this year ($254.40 about every 3 months) and work pays me back the same day, so what your saying this is a big no no to Amex? Am i missing what Amex Charge cards were designed for?

Discover IT TU Score: 739 as of 4/20/14 | TU Score as of 1/5/14 - 710 | EQ Score as of 1/5/14 - 748 | Ex Score as of 1/5/14 - 728
TU Score as of 1/5/14 - 705 | EQ Score as of 1/5/14 - 721 | Ex Score as of 1/5/14 -753 |

Capital One QuickSilver MC $4.5K | Amazon $1.8K (CLOSED) | Walmart $5K | Paypal SC w/Debit card $5K | BOA 123 Cash Rewards Sig $5K | BOA BBR $1K | Discover IT $8K | AMEX Sr Green Charge (NPSL) | PNC CashBuilder $1.5K | Paypal Extras MC $5k | PNC Auto Loan $20,038.75 | AMEX SimplyCash Biz CC $3k | BOA Cash Rewards Biz CC $3.5K |
Valued Contributor
trumpet-205
Posts: 2,414
Registered: ‎11-11-2010
0

Re: AMEX Hates Me?

[ Edited ]

kevinjjc wrote:

OP does not have too much available credit.


How much credit is too much varies on each person. Your experience does not equal to others. Of course we don't know the reason for denied CLI. I'm suggesting a possible reason for denial, one that is often overlooked.

 


linux007969 wrote:

What about their personal charge cards, could they shut me down if they find out if i'm putting an expence for work on it? Lately i've used my credit cards to put a few orders of Microsoft license products on them this year ($254.40 about every 3 months) and work pays me back the same day, so what your saying this is a big no no to Amex? Am i missing what Amex Charge cards were designed for?


For expenses that are reimbursed later on, do it only if

 

* Your balance does not exceed your monthly income, AND

* You have the money to pay off that expenses before the reimburshment.

 

If the spending exceeds your monthly income, it will likely throw a red flag to AMEX.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Contributor
linux007969
Posts: 594
Registered: ‎04-20-2012
0

Re: AMEX Hates Me?


trumpet-205 wrote:

linux007969 wrote:

What about their personal charge cards, could they shut me down if they find out if i'm putting an expence for work on it? Lately i've used my credit cards to put a few orders of Microsoft license products on them this year ($254.40 about every 3 months) and work pays me back the same day, so what your saying this is a big no no to Amex? Am i missing what Amex Charge cards were designed for?


For expenses that is reimbursed later on, do it only if

 

* Your balance does not exceed your monthly income, AND

* You have the money to pay off that expenses before the reimburshment.

 

If the spending exceeds your monthly income, it will likely throw a red flag to AMEX.


Ok thanks so much, I don't want Amex to hate me too. lol. :smileyvery-happy:

Discover IT TU Score: 739 as of 4/20/14 | TU Score as of 1/5/14 - 710 | EQ Score as of 1/5/14 - 748 | Ex Score as of 1/5/14 - 728
TU Score as of 1/5/14 - 705 | EQ Score as of 1/5/14 - 721 | Ex Score as of 1/5/14 -753 |

Capital One QuickSilver MC $4.5K | Amazon $1.8K (CLOSED) | Walmart $5K | Paypal SC w/Debit card $5K | BOA 123 Cash Rewards Sig $5K | BOA BBR $1K | Discover IT $8K | AMEX Sr Green Charge (NPSL) | PNC CashBuilder $1.5K | Paypal Extras MC $5k | PNC Auto Loan $20,038.75 | AMEX SimplyCash Biz CC $3k | BOA Cash Rewards Biz CC $3.5K |
Epic Contributor
Creditaddict
Posts: 20,013
Registered: ‎10-23-2007
0

Re: AMEX Hates Me?

I think statements of no personal card use of business expenses while possibly a novilty, these days it's SO COMMON especially when you own your own business or are trying to start a business... at some point it would be beneficial for taxes and accounting to have the seperation of personal vs. business but even people like Dell original CEO has done many interviews of putting $10k on an Amex card and it was either going to be a go or a bankrupt!

 

now I would call amex and ask them if you can put in a new request for CLI or have to wait full 6 months because you didn't know you couldn't ask for more than 3x current line.

Fico Scores: EQ 673 DCU, TU 678 Wally, EX 669 Chase(08-31-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Express $300
Over 45 Cards in between :smileytongue:
Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
0

Re: AMEX Hates Me?

I'm calling shenanigans on the "don't use your personal card for business - you need a business card" with AMEX. I think as long as it's not abused THEY KNOW  what's going on. Pay on time, pay early if you want and pay in full every month. 

 

I am the owner of a small business with about 1MM in sales yearly. I use ALL of my cards as needed for the business and that includes 2 amex personal cards. In fact I have 2 AU on my personal Delta Platinum and when I called to have them added I told them they were employees. That card saw $30,000 spend in less than 6 months and the better part of $25,000 was business usage. I recently applied for a Delta Reserve for Business and when I called to activate it they asked if I wanted to add employees (for another heavy yearly fee) I declined and pointed out that I have 2 employee AU on my personal Delta card and they said OK no problem. I even pointed out that the fees were less to keep them on the personal then add them to the Reserve Business card and again she agreed. But my spend on all 4 AMEX cards has been quite heavy so that may factor into how I am treated. 

I am new to AMEX (just started using them in 6/12) and when in doubt I play dumb. As a sole proprietor all of the business income runs thru me as an individual anyhow. Personal and business funds are all the same with me to the IRS, and it should be the same for AMEX. Will I ever get the dreaded FR? You can count on it, but whatever. I'll deal with that when it happens. 

As Creditaddict pointed out there is an upside to separate card usage. I am trying to separate the usage of cards for personal and business but that's a process that takes some time. I will not have available business credit TODAY that matches my personal limits. In fact all of the business credit pulls from my personal reports anyhow (even if it does not report that way). It's a good path but even the IRS knows it takes time. 

As far as the original poster's problem I would call the number on the back of the card and talk to them about an increase of 3x existing limit or $10,800. You gotta move on this soon or you will need to wait 6 months to try again. Don't waste the opportunity. If it fails wait for the letter (you will get the CLI denial notice) and write them back at the address on the letter and plead each point on the letter to your favor. Show them you are serious, you have great credit and WANT to use their card. You might be surprised. 


Moderator Emeritus
webhopper
Posts: 7,230
Registered: ‎09-16-2011
0

Re: AMEX Hates Me?

[ Edited ]

CreditScoreBlueprint wrote:

chnceit wrote:
WOW! Thats a lot you are asking for. You are only able to ask 3X your current limit. $15K is more like 4X your current limit. The next time you can ask for another CLI is 6 months.

Well, for comparison... my NFCU card has a limit of $22,000 and my USAA card has a limit of $19,000. And I've been having to make payments on my AMEX 4 times a month just to be able to use it... because $3,600 is absolute crap for my monthly spending (I work for myself and am constantly purchasing things like advertising).

 

I figured if they didn't want to give me $15,000 that they'd at least come back with a lower offer. But now it looks like I'm stuck at $3,600.


Have you looked into doing a Business Charge Card?  something like the gold or platinum would give you a good spend ability....   Also would decrease your chance of getting FR from using a personal card for business card.

Amex can be quite generous with business credit limits. I had them offer me 22k on Amex Lowes today...   business income is less than 25k. Total income is 121k which includes salary.

 

Simply Cash and Plum are good options as well. I think one of the Amex cards even gives you double rewards for advertizing.... 

 


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
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New Contributor
CreditScoreBlueprint
Posts: 55
Registered: ‎11-25-2011
0

Re: AMEX Hates Me?

Okay, I called them up to see what the deal was. Apparently, since they don't do hard pulls, they go off of the last available soft pull that they have on file - which was in November. And I had high credit usage at that time. They also mentioned that my auto loan balance was too close to the original balance (never knew companies paid attention to that). So basically they have a 670 FICO score on file for me, when my current FICO is actually 760.

 

They said that I could send them the report via fax and they would re-evaluate the request, or I could just wait 90 days and request a CLI again. 

Established Contributor
scenery_guy
Posts: 958
Registered: ‎07-24-2012
0

Re: AMEX Hates Me?


CreditScoreBlueprint wrote:

Okay, I called them up to see what the deal was. Apparently, since they don't do hard pulls, they go off of the last available soft pull that they have on file - which was in November. And I had high credit usage at that time. They also mentioned that my auto loan balance was too close to the original balance (never knew companies paid attention to that). So basically they have a 670 FICO score on file for me, when my current FICO is actually 760.

 

They said that I could send them the report via fax and they would re-evaluate the request, or I could just wait 90 days and request a CLI again. 


That's solid info, glad you called. So what are you going to do? The 90 day wait is interesting as all I ever hear is 6 months between CLI requests. 

Valued Contributor
kevinjjc
Posts: 1,314
Registered: ‎01-14-2009
0

Re: AMEX Hates Me?


scenery_guy wrote:

CreditScoreBlueprint wrote:

Okay, I called them up to see what the deal was. Apparently, since they don't do hard pulls, they go off of the last available soft pull that they have on file - which was in November. And I had high credit usage at that time. They also mentioned that my auto loan balance was too close to the original balance (never knew companies paid attention to that). So basically they have a 670 FICO score on file for me, when my current FICO is actually 760.

 

They said that I could send them the report via fax and they would re-evaluate the request, or I could just wait 90 days and request a CLI again. 


That's solid info, glad you called. So what are you going to do? The 90 day wait is interesting as all I ever hear is 6 months between CLI requests. 


6 months after an approved CLI, 90 days after a declined CLI.


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