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Amex 3xCli Question

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Youngcreditbuilder
Established Member

Amex 3xCli Question

hi folks,

   I recently received my 2nd Amex 3xcli increase and my limit went from $6,000 to $18,000 and now I'm wondering if I need to raise my balance on my statement now that I have a higher limit. I've been letting my statement cut with a balance of $60 so that it would be 1% of my limit, so what I'm asking is should I let this new statement cut with a balance of $180 or $60 bc I've read that your balance should not be higher that 10% and no lower than 1% for maximum fico correct?

Message 1 of 10
9 REPLIES 9
Aarvard
Established Contributor

Re: Amex 3xCli Question


@Youngcreditbuilder wrote:

hi folks,

   I recently received my 2nd Amex 3xcli increase and my limit went from $6,000 to $18,000 and now I'm wondering if I need to raise my balance on my statement now that I have a higher limit. I've been letting my statement cut with a balance of $60 so that it would be 1% of my limit, so what I'm asking is should I let this new statement cut with a balance of $180 or $60 bc I've read that your balance should not be higher that 10% and no lower than 1% for maximum fico correct?


Even $1 balance over a total CL of $100,000 still results in a 1% utilization if I'm not wrong. FICO models round util up.

03/25/2015 TU 08 765, EX 08 747, EQ 08 757, EQ 04 754.
01/30/2016 TU 08 775, EX 08 752, EQ 08 744
Goal: 780+ across all models.
Message 2 of 10
Santi78342
Established Contributor

Re: Amex 3xCli Question


@Aarvard wrote:

@Youngcreditbuilder wrote:

hi folks,

   I recently received my 2nd Amex 3xcli increase and my limit went from $6,000 to $18,000 and now I'm wondering if I need to raise my balance on my statement now that I have a higher limit. I've been letting my statement cut with a balance of $60 so that it would be 1% of my limit, so what I'm asking is should I let this new statement cut with a balance of $180 or $60 bc I've read that your balance should not be higher that 10% and no lower than 1% for maximum fico correct?


Even $1 balance over a total CL of $100,000 still reseults in a 1% utilization if I'm not wrong. FICO models rounds util up.


+1

 

Even $1 reporting would be considered 1%

Message 3 of 10
Youngcreditbuilder
Established Member

Re: Amex 3xCli Question

Thanks guys good to know
Message 4 of 10
TURNERHOOVER
Established Contributor

Re: Amex 3xCli Question

CONGRATS on the CLI.  

EX 727 | EQ 720 | TU 740

FREEDOM 4.5k | BCP 9.5k | DISCOVER 2.5k | ARRIVAL+ 7.5k | RITZ CARLTON 15k
No new Apps till Dec 2016
Message 5 of 10
Anonymous
Not applicable

Re: Amex 3xCli Question

Having just applied for an Amex card, I am curious about this 3X CLI I keep hearing about, is this an automatic thing after 61 days in good standing?

Message 6 of 10
mitchblue
Valued Contributor

Re: Amex 3xCli Question

You have to ask for it, and no it's not automatic. but IMO, it's pretty easy to get ..

 


@Anonymous wrote:

Having just applied for an Amex card, I am curious about this 3X CLI I keep hearing about, is this an automatic thing after 61 days in good standing?


 

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 7 of 10
takeshi74
Senior Contributor

Re: Amex 3xCli Question


@Youngcreditbuilder wrote:

I'm wondering if I need to raise my balance on my statement now that I have a higher limit.


You only need to raise the balance if it's 0.

Message 8 of 10
Anonymous
Not applicable

Re: Amex 3xCli Question

I think there is a sticky for the Amex 3xCLI thread. If not, use the search bar. It is pretty lengthy and explains everything. 

Message 9 of 10
Anonymous
Not applicable

Re: Amex 3xCli Question


@Anonymous wrote:

I think there is a sticky for the Amex 3xCLI thread. If not, use the search bar. It is pretty lengthy and explains everything. 


Thanks, I just found it, I guess I'll try my luck in May!

Message 10 of 10
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