I opened my Amex BCE card back in july and I am approaching my 61 day for the 3x credit limit increase however here are my questions and concerns. Amex has yet to post to any of the credit bureaus. I have 4 other accounts open around the same time as I opened the amex that are reporting. I have a pretty high utilization about 50% because I am in texas and the hurricane cause us some finacial set backs. If amex were reporting my utilzation would be less than 30% I had planned to pay all my cards in full but it will be another month or 2 before I am able due to hurricane expenses.
Overall when I applied for Amex my scores were in the 740-760 ranges. Now with the high utilizations and change to the average age of credit from 2 years to 6 months because of all the new account I have dropped about 100 points to the 640-650 ranges. Also note I have no derogetory items on my credit and no late payments.
So with such a large drop in scores should I hold off on the 3x cli request? Would there be any downside to not applying at 61 days? Am I more likely to be denied because of the utilizations and credit score drops?
Glad to hear you're safe. I concur with what the other posters have stated...pay down your balances and wait for your score to bounce back some before requesting the increase.
