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Amex CLI decline letter

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snowkitty
Established Contributor

Amex CLI decline letter

I posted last week about getting declined when I requested a cli with Amex. I received the letter yesterday and this is what it says.......

 

Your income is insufficient relative to your overall debt obligations as reflected in our records or on your credit report.

 

I'm trying to understand what this means. My income is alittle under 63k, my total available credit across the board is 97.5k and my utililization is 11%.

 

Is it because I have more credit available than income or is Amex counting a minimum payment for every card whether I have a balance or not against my DTI?

 

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Message 1 of 5
4 REPLIES 4
lhcole77
Valued Contributor

Re: Amex CLI decline letter

Any installment loans?

Message 2 of 5
snowkitty
Established Contributor

Re: Amex CLI decline letter


@lhcole77 wrote:

Any installment loans?


No, my house and cars are all paid off. The only accounts are the credit card revolving accounts.

TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Message 3 of 5
Chris679
Established Contributor

Re: Amex CLI decline letter

My guess is that the $10,000 debt is why it was denied.  11% utilization in a vacumn may sound low but when it is 11% of 97.5k that is still alot of money.  I think they are looking at the 20k of limits you already have with them in combination with these overall balances and not wanting to extend any more credit.

Message 4 of 5
snowkitty
Established Contributor

Re: Amex CLI decline letter

@chris679 That makes sense. I wasn't sure if it was the balances or the fact that I have more credit than income. I am paying more than the minimum each month on my balances but it will take most of this year to have them paid off. I hope this doesn't hurt me. I won't be asking for anymore cli's though.
TU Fico 714 | Sesame 742 | Credit Karma 762 | Wal-Mart FICO 734 | EX FICO 695 (1/28/13) | EQ 740 (3-21-13)

Amex Blue Sky 7.2k | Amex BCE 13.1k | Citi Diamond Preferred 10.2k | CSP 5k | Bofa Cash 9k | Boa Travel 10k | Discover More 3k | Chase SW 5k | Wal-Mart 3.3k | Amazon 5k | Old Navy Visa 5k | Shell 1200 | BP 400 | VS 1500 | Sam's Discover 8.5k | FNBO Amex 16k | Chase Freedom 1.3k | Home Depot 5k | Brylane Homes 1600 | BML 2820

App free since 12/11/13*
Message 5 of 5
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