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New Visitor
kjsbiker
Posts: 2
Registered: ‎02-12-2013
0

AmEx 3X CLI Strategy Advice

Just read the sticky on the Amex 3X CLI after 60 days and need some opinions on strategy for my situation. I am just past the 60 day mark for my Delta Gold amex with a 2000 limit. When the card was issued in Dec, I had a 710 score based on information from Credit Sesame. My CS score now is showing as 683. Now for the strategy part... I recently took out a personal loan from lending club (received the funds last week), and have paid about 7K down on my CC balances. Obviously, these are not yet reflected in the credit score.

 

So should I wait for the payments to show up on the credit report before requiting the CLI, or go ahead and do it with the reduced credit score? We have been paying the amex in full each month, but not until after the statement closing date. Don't know if that matters for this situation.

 

Thank you for any help you can provide. I just recently discovered this forum and love the information. It is time to start actively managing my credit instead of just going along for the ride.

Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: AmEx 3X CLI Strategy Advice

Do you know when Amex last soft pulled your report(likely Exp)?! You need to know what your score was then.

Also, these Fako scores are notorious for being inaccurate.

Lastly, you better request it asap; once that new installment loan hits your report, it will go lower imo- regardless of your reduced balances.

An installment loan+ a bunch of open avail cred= higher potential dti.

Do it now!!! I think you risk getting denied further if you wait for your personal loan to report.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
New Visitor
kjsbiker
Posts: 2
Registered: ‎02-12-2013
0

Re: AmEx 3X CLI Strategy Advice

Just put it through and Approved.  Awesome!  Thanks for the advice. Would have never known about that option without this forum.

Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: AmEx 3X CLI Strategy Advice

Yw!!!! And congrats!!! :-D I actually had a similar situation in which I app'ed before my student loans reported and got approved!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
Epcot
Posts: 2,784
Registered: ‎10-10-2012
0

Re: AmEx 3X CLI Strategy Advice

Congrats, nice going! :smileyhappy:

Starting Score: EQ 717 EX 724 TU 736
Current Score: EQ 809 EX 774 TU 805
App free since 4/11/13
Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Re: AmEx 3X CLI Strategy Advice

Is it 61 days after approval or activation that you can request the SP increase?


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Frequent Contributor
mnavas
Posts: 408
Registered: ‎02-04-2013
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Re: AmEx 3X CLI Strategy Advice

LesWH, my understanding is that you're a eligible for an Amex Cli 61 day after your account is created. Lets say i got approved for my Amex BCE on 12/17/2012 my acc was created ob 12/18/2012 so im ok to do the CLI request on or after 01/17/2013. Read the sticky notes on this forum, theres a complete guide about ir
Established Contributor
LesWH
Posts: 608
Registered: ‎10-11-2012
0

Re: AmEx 3X CLI Strategy Advice


mnavas wrote:
LesWH, my understanding is that you're a eligible for an Amex Cli 61 day after your account is created. Lets say i got approved for my Amex BCE on 12/17/2012 my acc was created ob 12/18/2012 so im ok to do the CLI request on or after 01/17/2013. Read the sticky notes on this forum, theres a complete guide about ir

Yeah, I went to the sticky and read it.  Now I know when I am eligible for a SP increase!  AMEX sp's my experian all the time so at least I don't have to wait for that! :womanlol:


NFCU Signature Visa Cash Rewards, NavChek, Citi AA AMEX, Cap1 Cash Rewards, Discover IT, Home Depot, Sears, Walmart, Chase Freedom, AMEX Green, Lowe's, AMEX BCE, Chase Sapphire Preferred, AMEX Hilton Honors Surpass, PayPal Extras MC, PenFed Platinum Cash Rewards, AMEX Platinum

GC Challenge: App Free since 1/8/13. No more apps til 2014







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