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Senior Contributor
lg8302ch
Posts: 3,049
Registered: ‎11-13-2012
0

Amex CLI or not ?

When I got to the 61 day mark for 3 x CLI on my AX BCP I "chickened" and requested 2 x and got approved from the initial 5K to 10K. At that time it was my first 5 digit card.  Approaching 6 months after that first CLI I now wonder if I shall try my luck and request 20K  next month and see what will happen ?  (my profile show only the cards in my Siggy and all of the cards except the 2 BofA cards are less than 12 months old)

What would you do? Try to punsh my luck or rather  leave it.  Wonder also if it could be helpful for Chase CSP approval if AX grants me higher CL or if it could be used against me by telling me you have already enough CL?

What woud your expert advise be?

 

Have tried it with Cap1 since they have come up with the LUV button: Result below

Cap1_toolow.png

 

This is the same for Amex but not sure if they look at it this way too ?

 

Thanks in advance for your opinions

FICO® EQ 791 (as of today) - TU 778 (11/28) * Fako EX 811 (12/02 - CS) * last app 12/16/14 * INQ last 2 yrs TU: 4, EX: 5, EQ: 3


Move the mouse over the cards for detailed view!..................................................................* Seedling Garden Club member *
Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: Amex CLI or not ?

Ask for 25k. They are known to counteroffer if they don't want to go all the way, and it's just a soft pull, so there's no real downside. Plus, if they approve you for less, you'll get an EX score out of the deal. I did 2k - 6k and just did the 6 months again and went from 6k - 18k. So, I've nontupled my AMEX CL in 181 days.


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Valued Member
OptimalFICO
Posts: 203
Registered: ‎07-05-2009
0

Re: Amex CLI or not ?

Like Mauve, a friend was initially approved by AMEX at $2k... two months later they were approved for CLI to $6k. Based on other posts in this forum, waited six more months and this week requested CLI of three times the existing CL... requested $24,000 to see what would happen... AMEX approved at $18,000 (three times the existing CL).

 

Based on this scenario and what I've read in this forum, I would request a CLI to $30,000 (three times your existing CL). The online system should return the max their system will approve. At that point you either "accept" what they approve or "decline" and keep your existing CL.

 

It has not been my experience that lenders refuse a higher CL because of existing high CLs, but I have heard of lenders refusing higher CLs because of low CLs.

 

Good luck!

Valued Contributor
mauve
Posts: 2,487
Registered: ‎02-18-2010
0

Re: Amex CLI or not ?

I suggested 25k instead of 30k because over 25k, AMEX is pretty likely to want to see your tax filing info or whatever. Check out the sticky at the top of this forum for more info. 


Starting Score: EQ 583 TU04 619 EX 592 (lender pull) 2010
Previous High Score: EQ 700 TU04 712 EX 726
Current Score: EQ 740 TU(Discover) 750 EX(AMEX) 747
Goal Score: 740+ all around


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Valued Member
OptimalFICO
Posts: 203
Registered: ‎07-05-2009
0

Re: Amex CLI or not ?

Good thinking Mauve.

 

My friend was required to enter her current annual income in a field below the requested CL and submitted the two numbers together during the online CLI process.

 

Personally, I have an original AMEX BCE card and about five years ago my CL was increased to $30,000 with no request for income documentation. Of course this is not always the case, as outlined in the following guide which details potential reasons why AMEX may ask for a signed IRS Form 4506T granting permission to pull a recent tax return (including new requested credit limits exceeding $25,000 for a particular account).

 

The Definitive Amex 3X CLI Guide

http://ficoforums.myfico.com/t5/Credit-Cards/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

 

Frequent Contributor
Slab
Posts: 283
Registered: ‎12-16-2011
0

Re: Amex CLI or not ?

I charged less than $200 total over a 2 month period and AMEX upped me from 8k to 23k on the 61st day.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: Amex CLI or not ?

Is this $25k limit a per card basis?
I have $30,000 in Amex cred between two cards already, but wanted to get a 3xcli on my Delta to $16,500.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Valued Contributor
DigitalArk
Posts: 1,241
Registered: ‎07-07-2013
0

Re: Amex CLI or not ?

Is better to talk to a rep or do it online for CLI request? My 61 day is right around the corner.


Frequent Contributor
Slab
Posts: 283
Registered: ‎12-16-2011
0

Re: Amex CLI or not ?

I did it online and it took a matter of seconds to get the new limit. Good luck, it will be easy.

Equifax FICO 781, Transunion FICO 821, Experian FICO 807,

810 goal on all three by 3-1-2015
Valued Member
OptimalFICO
Posts: 203
Registered: ‎07-05-2009
0

Re: Amex CLI or not ?


Slab wrote:

I charged less than $200 total over a 2 month period and AMEX upped me from 8k to 23k on the 61st day.


This is consistent with what has been shared about AMEX' 3X CLI policies, based upon which AMEX likely would have approved $24k. Did you request the $23k? You will be eligible to request another CLI in six months.

 


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