Amex CLI over $25,000

[Anonymous]

When you guys back out and lower the amount do you typically do it in $1k increments or do you go even smaller than that?  Even though it will take a while longer, I feel like going through in hundred dollar increments just to get a really solid data point as to any threshold that may exist for my file.

[Gmood1]

I've done it in at 1k and 2k. I haven't tried it at any smaller increments than that.

[pat0812]

My score on Amex is 720 now

I recently paid off balances and I'm at 758 but Amex hasn't SP me yet

Should I wait or not?

I want to ask for 50K but don't want to rush it and be declined

You guys recommend me to wait till next month ?

[austinguy907]

I already told you in a PM to go ahead and pull the trigger.  Just do it or wait.  They look at more than scores and waiting for another SP won't make a difference in the decision if they do indeed ask for a 4506 your income will back up the request.

[pat0812]

---

@austinguy907 wrote:

I already told you in a PM to go ahead and pull the trigger.  Just do it or wait.  They look at more than scores and waiting for another SP won't make a difference in the decision if they do indeed ask for a 4506 your income will back up the request.

---

I went ahead and requested $50,000 and they asked for income verfication, I then went back and asked for less and it said they will mail me a response within 14 days

I went back and asked for $50,000 and then asked me the verification again and I filled it out this time.

What does this all mean?

Why at $45,000 it didn't approve me and at $50,000 it asked for income verification ?

[Anonymous]

I personally would have waited.  From 720 to 758, 38 points, is a considerable jump.  Yes it's not all about score, but there's something profile-related that equated to that 38 point bump and Amex knowing about that could only be a favorable move.

I see that you already went for it - hopefully you end up getting what you want or close to it.

Going forward, if ever someone is going to request a CLI and they know for certain that in less than a month they'll get SPd and their score will go up 20+ points, I'd always recommend waiting.  Maybe with Discover or someone that lets you request CLIs all the time (and grants them) it's different, but with a creditor like Amex where you only get 1 shot every 6 months I think it's always in the best interest of the cardholder to position themself in the best possible light.

[pat0812]

---

@Anonymous wrote:

I personally would have waited.  From 720 to 758, 38 points, is a considerable jump.  Yes it's not all about score, but there's something profile-related that equated to that 38 point bump and Amex knowing about that could only be a favorable move.

I see that you already went for it - hopefully you end up getting what you want or close to it.

Going forward, if ever someone is going to request a CLI and they know for certain that in less than a month they'll get SPd and their score will go up 20+ points, I'd always recommend waiting.  Maybe with Discover or someone that lets you request CLIs all the time (and grants them) it's different, but with a creditor like Amex where you only get 1 shot every 6 months I think it's always in the best interest of the cardholder to position themself in the best possible light.

---

They will need first to get IRS transcripts so maybe by then my score will already be up, if not I will just wait another 6 months

[austinguy907]

I'm not sure that they didn't prompt for the 4506 at 45K but did at 50K.  Either way you have the form on the way there and since it's Wednesday you'll see the increase most likely by Tue or Wed with the weekend coming into play.  As long as you hit all the boxes before hitting submit you should be good to go on the 50K.  If it doesn't go through for some quirky reason then it's only 90 days to wait for a denial.  If you don't see anything on your account change by Wed then it would be a good idea to pester them a little bit with either of the numbers I PM'd you.

[pat0812]

---

@austinguy907 wrote:

I'm not sure that they didn't prompt for the 4506 at 45K but did at 50K.  Either way you have the form on the way there and since it's Wednesday you'll see the increase most likely by Tue or Wed with the weekend coming into play.  As long as you hit all the boxes before hitting submit you should be good to go on the 50K.  If it doesn't go through for some quirky reason then it's only 90 days to wait for a denial.  If you don't see anything on your account change by Wed then it would be a good idea to pester them a little bit with either of the numbers I PM'd you.

---

I don't know what you mean by all the boxes

I went by the instructions

On the enclosed IRS 4506T form:

Complete lines 1 – 4 as instructed.

In line 6, please request tax form “1040” and check the box at the end of line 6a. (This was automatically checked)

In line 9, fill in the year end date for your 2 most recently completed tax returns. (I filled 12/31/2014 and 12/31/2015, because we are past August)

Please note that your previous year’s tax transcript will not be available from the IRS until August 1st of this year. To ensure prompt processing, please only request the most recent year available. (Ex: 12/31/20XX)

Review the attestation clause at the bottom of page 1, next to “Signature of Taxpayer(s).” Then, check the box under the clause to confirm you have the authority to sign the form (I checked that one and the signature as well)

Is that good ?

[austinguy907]

Yup!  The checkbox before the signature when doing it online doesn't act as "required" and if missed you can still submit it.  Now it's just time to wait for your increased limit to appear!  They don't notify when it's complete so, keep an eye on your account for the bump.