Amex CLI denied

[jamesdwi]

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@nada9188 wrote:

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. 

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It appears the oldest card you have is only 4 years old and AMEX is a very conservative lender, if you had 10 year old cards it would be a different story or if you had NFCU a lender known for high limit cards.  A fico over 760 would help as well. 

[Crashem]

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@nada9188 wrote:

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. 

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getting available creditabove your income is something you build up to.  It's not something that happens quickly.  The problem is cli would make Amex way above your other cards and that makes themuncomfortable given your income and lack of proof you could handle it.  Personally I would be using Amex to build your other credit lines so Amex sees you can handle larger credit lines which in turn makes them more comfortable.

[andre181]

I have about $75k in revolving limits with about $32k/year income.

AMEX is the only CCC I have that thinks that that's a problem.

[CreditScholar]

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@nada9188 wrote:

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. 

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If you're running that kind of money through with a stated income of only 32k, be prepared for a FR. Spending not matching someone's income is one of the top triggers.

[Crashem]

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@andre181 wrote:

I have about $75k in revolving limits with about $32k/year income.

AMEX is the only CCC I have that thinks that that's a problem.

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did you get rejected cli?

[andre181]

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@Crashem wrote:

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@andre181 wrote:

I have about $75k in revolving limits with about $32k/year income.

AMEX is the only CCC I have that thinks that that's a problem.

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did you get rejected cli?

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Yep. Amex has never granted me a CLI in almost 2 years of having an AMEX revolver.

[Crashem]

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@andre181 wrote:

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@Crashem wrote:

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@andre181 wrote:

I have about $75k in revolving limits with about $32k/year income.

AMEX is the only CCC I have that thinks that that's a problem.

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did you get rejected cli?

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Yep. Amex has never granted me a CLI in almost 2 years of having an AMEX revolver.

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weird.  Can get some details?  You usually low util when asking for cliA?

[andre181]

Definitely. I'm always very aware of my CC usage considering my low-ish income. My util is never more than 5%

I have a lot in student loans though and I think that is what worries AMEX. Its about $45k so far and will be at *gulp* about $60k when I graduate.

That and a lot of inquiries (10) are the only things that AMEX cite as my reasons for denial. My EX FICO is 754 according to them so its not a credit issue, but a low income issue.

But other than that, my CR's are stellar (in my opinion). No lates, no collections, nothing adverse. Paid and closed auto loan with original balance of $13,499 which was PIF in 15 months.

[CreditScholar]

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@andre181 wrote:

Definitely. I'm always very aware of my CC usage considering my low-ish income. My util is never more than 5%

I have a lot in student loans though and I think that is what worries AMEX. Its about $45k so far and will be at *gulp* about $60k when I graduate.

That and a lot of inquiries (10) are the only things that AMEX cite as my reasons for denial. My EX FICO is 754 according to them so its not a credit issue, but a low income issue.

I wonder if I close my PRG if they'd be more comfortable increasing my limit on my BCE. 

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Your loans are probably the major issue here. Given Amex's spend-centric model, the amount you owe on your loans will severely limit the amount you'll be able to spend on their cards. This is doubly true if your income is low-ish.

[andre181]

That's what I figured.

But honestly, it doesn't really bother me. At almost $75k in revolving limits, I have all the credit I need at this point. And my Discover More is my go-to card and I have a very nice limit with them at $13.3k, so I'm good.