Amex CLI question

[Anonymous]

My wife has an Amex BCE with a 25k limit (went from 8.5k to 25k with first CLI). What would be a reasonable amount to ask for with the next CLI? I am assuming that you can't go from 25k to 75k with another 3x CLI. Does the credit card limit/income ratio play a big role here? Hopefully, some people with similar limits can share their experiences.

[NRB525]

You can ask for whatever you want, even $75k, but when you get above $25k the chances of them asking you to supply a 4506-T form increase greatly. The form allows them to review your tax returns for recent years, to verify income and file information. Some of us don't have a problem if they did ask, others are vehement that they will never supply the 4506-T. AMEX will reach a point, somwhere between $25k and $75k, where that form is required to accept a higher CL.

You'll likely get a counter offer, so we'd like to see what happens when the $75k is requested

[kdm31091]

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@Anonymous wrote:

My wife has an Amex BCE with a 25k limit (went from 8.5k to 25k with first CLI). What would be a reasonable amount to ask for with the next CLI? I am assuming that you can't go from 25k to 75k with another 3x CLI. Does the credit card limit/income ratio play a big role here? Hopefully, some people with similar limits can share their experiences.

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Evaluate how much you really need. You can ask for whatever you want like the above person said, but you're at 25k and the likelihood of them wanting tax documents is going to increase from here.

Now that may not bother you, but some people are just really against having to do it. Weigh your options. To me, a 25k limit is plenty, YMMV. Remember that although CLIs sound great, there are circumstances where more isn't always better. If ONE Amex card has a 75k limit, she may have trouble getting other approvals, because that is a huge debt potential in and of itself (credit vs income comes into play). Just be careful.

[Anonymous]

So it is more likely that she will just receive a counteroffer than having to supply the 4506-T? We don't care if they see our tax information but my wife just doesn't want to go through the trouble with the form because she doesn't care that much about a higher CL. Can you say no if they request the 4506-T and they will give you a counteroffer/nothing or do you definitely have to supply it once they ask for it?

Are the chances better to get approved for a CLI or get a counteroffer without having to supply the form if she goes for something like 35k? Or is there no way to know when Amex will ask for the form once you ask for more than 25k?

[kdm31091]

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@Anonymous wrote:

So it is more likely that she will just receive a counteroffer than having to supply the 4506-T? We don't care if they see our tax information but my wife just doesn't want to go through the trouble with the form because she doesn't care that much about a higher CL. Can you say no if they request the 4506-T and they will give you a counteroffer/nothing or do you definitely have to supply it once they ask for it?

Are the chances better to get approved for a CLI or get a counteroffer without having to supply the form if she goes for something like 35k? Or is there no way to know when Amex will ask for the form once you ask for more than 25k?

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No magic number. They can ask for it whenever they want. The higher you go though the more likely it will be. I think if you say no to providing the form, you simply don't get the CLI, but someone with more experience may chime in here.

Honestly, it sounds like she doesn't really care about the CLI, so again, weigh your options. If the credit limit is fine, and she doesn't want to deal with the potential form stuff, just let sleeping dogs lie.

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

My wife has an Amex BCE with a 25k limit (went from 8.5k to 25k with first CLI). What would be a reasonable amount to ask for with the next CLI? I am assuming that you can't go from 25k to 75k with another 3x CLI. Does the credit card limit/income ratio play a big role here? Hopefully, some people with similar limits can share their experiences.

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Evaluate how much you really need. You can ask for whatever you want like the above person said, but you're at 25k and the likelihood of them wanting tax documents is going to increase from here.

Now that may not bother you, but some people are just really against having to do it. Weigh your options. To me, a 25k limit is plenty, YMMV. Remember that although CLIs sound great, there are circumstances where more isn't always better. If ONE Amex card has a 75k limit, she may have trouble getting other approvals, because that is a huge debt potential in and of itself (credit vs income comes into play). Just be careful.

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I wasn't even aware that it can be negative if you go above a certain CL. This sounds like she should just stay with the 25k limit because she has no real need for a higher limit anyway. We were more interested how to go about a CLI once you are at 25k and what Amex will do.

Thanks for your help!

[kdm31091]

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:

My wife has an Amex BCE with a 25k limit (went from 8.5k to 25k with first CLI). What would be a reasonable amount to ask for with the next CLI? I am assuming that you can't go from 25k to 75k with another 3x CLI. Does the credit card limit/income ratio play a big role here? Hopefully, some people with similar limits can share their experiences.

---

Evaluate how much you really need. You can ask for whatever you want like the above person said, but you're at 25k and the likelihood of them wanting tax documents is going to increase from here.

Now that may not bother you, but some people are just really against having to do it. Weigh your options. To me, a 25k limit is plenty, YMMV. Remember that although CLIs sound great, there are circumstances where more isn't always better. If ONE Amex card has a 75k limit, she may have trouble getting other approvals, because that is a huge debt potential in and of itself (credit vs income comes into play). Just be careful.

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I wasn't even aware that it can be negative if you go above a certain CL. This sounds like she should just stay with the 25k limit because she has no real need for a higher limit anyway. We were more interested how to go about a CLI once you are at 25k and what Amex will do.

Thanks for your help!

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Yeah, it can backfire on you to have "too much" available credit. Although generally CLI = lower util = good, it's not that simple. Your income vs available credit matters too. If you have 200k in available credit on a 30k income for example, many would say you are running the risk of lenders raising their eyebrows and taking action because if you charged all that 200k you'd absolutely not be able to pay it back.

So it's a balancing act. Nobody can tell you what the exact "credit limit vs income" should be and opinions vary. My Amex BCE is at 15k and honestly, I wouldn't want it any higher. I don't use it enough to need it to be any higher and 15k is a lot of money for my income. So I'm leaving it alone, regardless of when I may be eligible for a CLI. I don't need one.