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Amex CLI denied

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nada9188
Frequent Contributor

Amex CLI denied

Applied for my 61 day cli and it flat out denied me stating debt with other creditors. 

 

All of my cards are paid to 0 and reportiNg the same. What gives?

Message 1 of 22
21 REPLIES 21
andre181
Established Contributor

Re: Amex CLI denied

Don't feel bad, I've had my BCE (formerly plain ol' Blue) for almost 2 years and its stuck at $2000. 

They cite too many inquires and high DTI (student loans) for my denials.

 

Do you have any installment loans like auto or student loans perhaps?

Discover IT $35K | FNBO Visa $30K | Cash+ Visa Sig $19.5K | Southwest Premier $16K | Priceline $15K | Citi Forward $14.3K | US Bank Plat $14K | Commerce Bank $13K | CSP $13K | CSR $10K | Sallie Mae World MC $10K | Lowe’s Consumer 10K | BoA Cash Rewards 1-2-3 Sig $7.5K | Fidelity Visa $7K | Citi Double Cash $6.5K | WF Cash Back Visa $5.4K | Capital One Cash Rewards $5K | AMEX BCE $3.9K | Freedom $2.5K | Younkers/Comenity $2.4K | Kohl’s 1.5K | Target $1.4K | EX FICO (from AMEX): 768, TU FICO (from Discover): 797, AAoA: 4.4 years
Message 2 of 22
LS2982
Mega Contributor

Re: Amex CLI denied


@nada9188 wrote:

Applied for my 61 day cli and it flat out denied me stating debt with other creditors. 

 

All of my cards are paid to 0 and reportiNg the same. What gives?


I would call in and recon (not sure if its possible) but its worth a shot if its inaccurate information.

 




EQ FICO 548 3/3/16
Message 3 of 22
Crashem
Valued Contributor

Re: Amex CLI denied


@nada9188 wrote:

Applied for my 61 day cli and it flat out denied me stating debt with other creditors. 

 

All of my cards are paid to 0 and reportiNg the same. What gives?


remember Amex usually uses the last credit report they have on file for you to determine cli.  Check your raw ex report.  Look for soft inquiry from Amex.  Could be on other bureau but experian most likely.  So given the date on lastsoft inquiry, what does your file look like?  Finally don't bother recon as you dont want hp.  Better to wait 90 days and make sure the month before cli request that everything looks good.

               LIMITS IN CARD DESCRIPTIONS
Message 4 of 22
jsickz32
Valued Contributor

Re: Amex CLI denied

Are you sure you calculated your 61 days correctly? you waited for second statement to end or what
Amex BCE (2500) / Amex SPG (4000) / Amex GoldPR / Merrill+ Visa siggy (5000) / BofA Amex (6000) / Bofa cash rewards (5000) / BofA Privileges Cash Rewards (5000) / Citi Forward (4400) / Citi DP (2000) / Chase Freedom (4000) / Chase CSP (5000) / Chase Hyatt (5000) / Discover IT (1700) / FNBO AMEX (3600) / NFCU cashRewards Visa signature (15000) / NFCU Flagship Visa signature (12500) / NFCU Navcheck (5000) / Nordstrom (500) / MetroCU Visa Elite (5000) / Walmart (4500) / Kays Jewerels (6600) / Kohls (300) / Macys Platinum (2500) / DCU platinum Visa (17500) / Citizens bank cash back (1100) / Bill Me Later (1631) / PayPal Smart connect (2200) / BestBuy store card (2000)
Message 5 of 22
nada9188
Frequent Contributor

Re: Amex CLI denied

Let me clarify a tad, I found the denial letter online. 

 

Originally I calculated incorrectly and the system told me that.. I spoke with a CLI rep and they said no problem try again tomorrow. (To apply Wed)

 

"Your overall debt with other creditors listed in your credit bureau report and the credit limits on your American Express Cards in relation to your reported income."

 

Now the part I don't want to face. My profile..

 

BCE Nov 11 6700 CL $0bal

SPG (this account just hit day 61)

Discover 12/10 1500CL $0 Bal

WellsFargo 3/09 2200CL $0Bal

AutoLoan 18K balance.. $350 pymt/mo

 

No other debt!

 

 

Everything has been reporting 0 since even before I applied for the SPG card. 

 

I gave income of 32K, which is a little shy but hard to be sure due to incentives.. 

 

 

Message 6 of 22
CreditScholar
Valued Contributor

Re: Amex CLI denied

Your income is frankly too low, especially by Amex's standards. A car payment of 350 per month is $4200 per year, and this isn't even counting things such as insurance. Assuming it totals to around 5k and net income in the upper-20k range after taxes, it simply doesn't leave you much room to play with.

 

You really need to work on increasing your income to stand any decent chance for a CLI.

EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Message 7 of 22
Anonymous
Not applicable

Re: Amex CLI denied


@CreditScholar wrote:

Your income is frankly too low, especially by Amex's standards. A car payment of 350 per month is $4200 per year, and this isn't even counting things such as insurance. Assuming it totals to around 5k and net income in the upper-20k range after taxes, it simply doesn't leave you much room to play with.

 

You really need to work on increasing your income to stand any decent chance for a CLI.


+1  A $6700 limit for $32K income is already pretty high.  Unfortunately, I doubt that you'll ever be able to get much higher without a higher income.  Amex 61 day CLIs are not guaranteed, you need the credit and income to back it up. 

Message 8 of 22
nada9188
Frequent Contributor

Re: Amex CLI denied

I am aware that my income is not that great-if I could wake up tomorrow and double it I would. In reality I am on track for closer to $40K/yr, but I do not have the tax returns to back it up yet, so I am not risking that.

 

There are posts on here often that people have more available credit than their income, why am I the exception?

 

Work is paying for my school-that is not included in income-I am a full time student-I don't pay for insurance.

 

I ran over 10K through the card last month. 

 

I am not yet eligible for a credit limit reallocation, my BCE is SD'd but it has all of the available credit. 

Message 9 of 22
Anonymous
Not applicable

Re: Amex CLI denied

Having more available credit over all your cards than your income is fairly common around here.  Having more available credit on one card or even from one lender than your income has to be pretty rare.  You can certainly try talking to a person at Amex and explaining your situation.

Message 10 of 22
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