Credit Cards

[FutureBillionaire]

I've seen mentions of a 60 day CLI with BCP and BCE.  Is this a soft pull?  Do we have to request it, or does it auto pull?  I've had mine since August.  I got a generous limit, but some of you have mentioned a 3x increase.  What's the deal with this?

[chnceit]

Yup its a soft pull and its not automatic, its a customer initiated CLI request. You can request to increase 3 times your current limit 61 days after activation. Example 2k current request to 6k. If denied then AMEX could counter offer or deny you all together.

[kevinjjc]

+1

What chnceit said. Also, it's supposedly 3X up to 25k.

[greenpang]

I've been meaning to ask this...

DH and I both got our Amex BCEs in July 2012.

My initial CL: 4k

DH's initial CL: 2.5k

I didn't know about the 3x CLI yet when I requested my increase (early November) and stupidly only asked for 8k. (Kicking myself now, that card should be at 12k!)

We called DH's next and figured we'd ask for higher since I got the 8k I requested. He requested 15k and got 7.5 (makes sense... 3x 2.5).

Anyone know how this will factor into my next CLI? I'll ask for another in May.

[armbenderc]

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greenpang wrote:

I've been meaning to ask this...

DH and I both got our Amex BCEs in July 2012.

My initial CL: 4k

DH's initial CL: 2.5k

I didn't know about the 3x CLI yet when I requested my increase (early November) and stupidly only asked for 8k. (Kicking myself now, that card should be at 12k!)

We called DH's next and figured we'd ask for higher since I got the 8k I requested. He requested 15k and got 7.5 (makes sense... 3x 2.5).

Anyone know how this will factor into my next CLI? I'll ask for another in May.

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You can ask for another 3x cli in May (6 months after your 61 days) for up to 25k and sometimes more. Some people are getting over 25k, but some gets FR for asking over 25k.

[iloverewards]

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armbenderc wrote: You can ask for another 3x cli in May (6 months after your 61 days) for up to 25k and sometimes more. Some people are getting over 25k, but some gets FR for asking over 25k.

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Is the 6 mo. Cli subject to a 3x ceiling too?

[nicholasyud]

To anyone give a wrong information about CLI :

How can I apply for a line of credit increasefor my American Express Card?

We do not increase an account's credit limit during the first 60 days after it has been opened, or for at least 6 months from the last credit limit increase. After that time has passed, if you are still interested in applying for an increased credit limit, you can check to see if you are eligible to change your credit limit online by logging into your account and going to your Profile & Preferences or you can call the number on the back of your Card to speak with one of our customer care professionals.

[ficojoe]

Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

[bs6054]

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ficojoe wrote:

Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

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It's not a real FR, just a request for you to send them a 4506T, so they can get a transcript of your tax returns.  If you refuse, your account stays open, you just don't get a CLI.  (In a real FR, your accounts are frozen before they notify you).

I have only one Amex, so I can't tell!  Others haven't mentioned being asked for this below $25K per card though, although that doesn't make too much sense.  (If Amex needs proof to go beyond $25K on one card, it would seem it should ask for that on combined credit lines).  Maybe a poster here with multiple cards adding up to more than $25K can tell.

[ficojoe]

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bs6054 wrote:

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ficojoe wrote:

Is the $25k ceiling (FR risk increase) per card or combined for all AmEx in your name?

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It's not a real FR, just a request for you to send them a 4506T, so they can get a transcript of your tax returns.  If you refuse, your account stays open, you just don't get a CLI.  (In a real FR, your accounts are frozen before they notify you).

At least half of my income in tax-exempt, I'm not sure what AmEx would do if they looked at my tax returns. I correctly reported my income, which can be supported through bank statements, but my tax returns do not reflect my actual income.

My local credit union only gave me credit for about 1/3rd of my income after reviewing my taxes.

Anyhow, I want to avoid a FR.