Credit Cards

[bichonmom]

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OptimasPrime wrote:

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Whereis750 wrote:
Approved for BCE on June 26, activated on July 6. Attempted 3x CLI over phone yesterday. Initial CL is $3500, asked for $10,000, DENIED no counteroffer. I ran about $1500 through card, made couple payments in one cycle. Balance was zero when tried for the CLI. Have a NFCU cc at $12.5k and LOC $10k. Overall util under 20%. Experian FICO was 732. Called Amex they stated high internal risk score. Reasons were debt with other creditors, short account history with them. Wondering if I actually waited the correct 61 days. Will wait for letter and post all reasons listed. Bummed right now ...

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Not 100% sure why, but I've heard that the AMEX internal scoring system which calculates internal risk score does not like when cardholders do this. Even though it seems odd, this could have factored into the denial.

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I have to agree, though others have posted about  making multiple pmts and not having aproblem with Amex. I have just tried to fly way under the rAdar with them after reading all of the fr stories here. I only make one pmt a couple of days before due date. I'm just trying to be as "normal" as possible with them, and my experience is that most people (ok, my relatives with money - like I wish I had!) pay their CCs once a month before due date. they don't make multiple pmts throughout the month. I know someone will post that they did this and got big CLIs with Amex, so it's obviously just one factor.

[TNTransplant]

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bichonmom wrote:

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TNTransplant wrote:

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bichonmom wrote:

In feb, I got Zync and Costco. In April, called for CLI. It went from $2k to $6k. My bal had not been over $400 on either card. My overall util was very low. I don't recall exactly, but well under 10%. One thing I've noticed from all of the posts I've read here is that balances make Amex (and Barclays) nervous. 20% overall util isn't high, but it isn't low, either. (were talking total util, and not util on a single card.) it really kind of depends in your CLs.

I'd try to get your overall util lower and try again in 6mos. 

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I've read on here that you can try again (if declined) after 90 days, and don't have to wait the full 6 months.  Can anyone confirm if this is true?

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this post refers to 6 mos. http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-CLI-Denied/td-p/1392046

What did the recording say? When I cli'd, before I confirmed that I wanted to do it, the recording said something like, " you won't be eligible to request anothe CLI for 6 mos." I remember thinking that if I was denied, I'd have towait that long before I could try again. However, maybe Amex has changed theirpolicies. 

Ipad doesn't  play nice with the forum! Grrr! 

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Thanks for the link, bichonmom.  

There were actually two people in that thread (crunching_numbers & Crashem) who confirmed the 90 day CLI request after denial.  One was told that on the automated line, and the other was told that by a CSR.  It certainly won't hurt the OP to try again in 90 days, as it's all based on the soft pull.

[Cdnewmanpac]

I hope multiple payments aren't a problem, since that was the only way I could make the 3k spend in 3 months (for20k hhonors points) with a 1k limit. While I would love to have a large limit, I really need to get to 2k by January for the Hilton surpass to be useful, since most upcoming hotel stays exceed 1k. Hope I didn't screw myself for an extra 20k hotel points. Yeesh.

[RockinRay]

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Cdnewmanpac wrote:

I hope multiple payments aren't a problem, since that was the only way I could make the 3k spend in 3 months (for20k hhonors points) with a 1k limit. While I would love to have a large limit, I really need to get to 2k by January for the Hilton surpass to be useful, since most upcoming hotel stays exceed 1k. Hope I didn't screw myself for an extra 20k hotel points. Yeesh.

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I have never had a problem making multiple payments. Just push them from your bank and you will be fine.

[tubesock]

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OptimasPrime wrote:

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Whereis750 wrote:
Approved for BCE on June 26, activated on July 6. Attempted 3x CLI over phone yesterday. Initial CL is $3500, asked for $10,000, DENIED no counteroffer. I ran about $1500 through card, made couple payments in one cycle. Balance was zero when tried for the CLI. Have a NFCU cc at $12.5k and LOC $10k. Overall util under 20%. Experian FICO was 732. Called Amex they stated high internal risk score. Reasons were debt with other creditors, short account history with them. Wondering if I actually waited the correct 61 days. Will wait for letter and post all reasons listed. Bummed right now ...

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Not 100% sure why, but I've heard that the AMEX internal scoring system which calculates internal risk score does not like when cardholders do this. Even though it seems odd, this could have factored into the denial.

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This is not true for everyone. I've had 2 Amex cards 3+ years and I've been paying multiple payments the entire time and have not had any problems with them...at all.