Amex CLI and Apr Decrease

Razb0yn1k23 · ‎01-06-2016

Hey guys i have had my Amex blue cash preferred card for 3 years now. This the best card i have and love Amex.

Current limit is at $24,500, last CLI was about 18 months ago. I have always paid in full. Experian credit score is 805. Only debt i have is a mortgage for $320k. What are the chances of me getting a financial review if i request the limit to $35k.

I would also like to share my apr decrease with Amex. I called a few days ago to get it droped a little more. First call to Amex a representative told me they couldnt lower it and i would have to try again in 3 months. I called about an hour later and spoke with another representative which was very nice. He dropped my apr from 11.99 to 9.99. Im glad i got the decrease but its pretty weird how the first guy couldnt do it. How low do you guys think i can go with the apr?

Any help is appreciated

Thanks

iheartwings · ‎01-06-2016

@Razb0yn1k23 wrote:
Hey guys i have had my Amex blue cash preferred card for 3 years now. This the best card i have and love Amex.

Current limit is at $24,500, last CLI was about 18 months ago. I have always paid in full. Experian credit score is 805. Only debt i have is a mortgage for $320k. What are the chances of me getting a financial review if i request the limit to $35k.

I would also like to share my apr decrease with Amex. I called a few days ago to get it droped a little more. First call to Amex a representative told me they couldnt lower it and i would have to try again in 3 months. I called about an hour later and spoke with another representative which was very nice. He dropped my apr from 11.99 to 9.99. Im glad i got the decrease but its pretty weird how the first guy couldnt do it. How low do you guys think i can go with the apr?

Any help is appreciated

Thanks

It's not FR (they aren't freezing or closing your accounts) but they may ask for your tax transcript if you ask for limit that's too high. I initially requested a CLI to $36k (from $24k) on my BCP last August and resulted in a request for 4506-T, I resubmitted $32k with similar request, and finally requested $30k without a request for the 4506-T. YMMV.

takeshi74 · ‎01-07-2016

@Razb0yn1k23 wrote:
What are the chances of me getting a financial review if i request the limit to $35k.

0 for an FR. Don't conflate FR and income verification. The 4506-T is used for both but they are not the same thing.

As for income verification, we have no idea. We know next to nothing about your credit profile and we don't know the specifics of AmEx's underwriting criteira. We can only say what the 3X CLI Guide states. Note the "but not always".

http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/18110...

The following often (but not always) are potential reasons why Amex asks for 4506T for a CLI request.

New requested credit limit exceeds $25,000 for that particular account.
New requested credit limit would make overall credit extended across all Amex revolving accounts exceed $34,500 (post 123)
High internal risk score due to income on file to overall credit across amex and non-amex accounts ratio being too low.
Unusual/large/manufactured/risky spending patterns.