Reply
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Amex CLI vs. new CC

So, I have had Amex Costco since Feb. I got a 61-day CLI from $2k to $6k.  I don't use the card much, except for Costco, incl Costco gas. Mostly because I want to stay under 10% bal reporting. Also, I don't like having to wait a year for the rewards. But if I had a higher CL, I would probably be using it more for restaurants at 2%.

 

My plan had been to get a CLI in November and then app for either BCE or BCP in Jan for the full year of backdating, to help boost my AAoA. Also, for better grocery rewards. 

 

So, my question is, should I try for a CLI now and app for BCE/P in Jan, or is that too much too soon. I've really worked to fly under their infamous FR radar. I'm concerned that trying for 3x CLI to $18k and then apping for BCE/P barely 2 mos later might not be a good idea. 

 

I'd love to know what others have been successful with in that area with them. I'm also aware that banks have a ceiling for what they're willing to extend to a single person, and if I do get a CLI, I wonder if that might lower my chances for a BCE/P in Jan.

 

On the other hand, I would really like the additional CL to help with overall util.

 

Thanks, all, for your input. :smileyhappy:

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Valued Contributor
daybreakgonesXe
Posts: 1,854
Registered: ‎11-17-2012
0

Re: Amex CLI vs. new CC

I would wait on that CLI if you're going for BCE/BCP, or just do a lower CLI, like 2x. Don't wanna affect getting disqualified for BCE/BCP! Sometimes though you can recon and switch some credit line over from your current AMEX to the new card.

 

Also apply for BCE/BCP at the one year mark of your Costco card :smileyhappy: can't hurt to wait for a better chance of approval!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

EQ FICO 708 TU FICO 747 Credit Karma (TU) 771 Transrisk 783/990 Credit Sesame (EX) 754 Credit.com (EX) 753 VantageScore 3.0 712
Epic Contributor
Creditaddict
Posts: 20,884
Registered: ‎10-23-2007
0

Re: Amex CLI vs. new CC

I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex CLI vs. new CC

I don't want to start transferring CLs from one card to another. I'm not even sure if Amex does that. But I want to stay as far under the radar w/them as I can. I'd just as soon leave my Costco @ $6k if it will make the diff in being approved for BCE or BCP.

 

Also, I do have a couple of balances that I didn't before, so I'm concerned that that might prevent an approval of one or both. I'll be paying down some of it in Dec, but if Amex uses an old SP, then they won't see it. I have $6k bal on $10k card and $5500 bal on $10k card. With those balances, I wonder if they'll even approve me. :smileyfrustrated:

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Regular Contributor
cutemarty1
Posts: 213
Registered: ‎02-03-2011
0

Re: Amex CLI vs. new CC


Creditaddict wrote:

I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that


Can you guys help me out. Am so depressed. It's been six months since I had my AMEX Hilton. I have been denied 3x for a CLI. My TU score is 702.

 

Recently got  approved for a CSP, Hyatt Sig and a CLI for my Discover.

My TL : BCE AMEX 24k / Home Depot 16.5 K / CSP 16.5k / Barclays Arrival MC 15k / BoA 123 14k / Discover 13.5k / Citi World 12.8k / CU Visa 11k/ Nordstrom Visa 10K / Freedom 10k / Citi AA 9.1k / Macy's Store 3K / Best buy 2.4K / BBRZ Gold 1.4K / AE 1.4k / Express 1.4K/
Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
0

Re: Amex CLI vs. new CC

While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Established Contributor
Cdnewmanpac
Posts: 767
Registered: ‎01-16-2012
0

Re: Amex CLI vs. new CC


cutemarty1 wrote:

Creditaddict wrote:

I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that


Can you guys help me out. Am so depressed. It's been six months since I had my AMEX Hilton. I have been denied 3x for a CLI. My TU score is 702.

 

Recently got  approved for a CSP, Hyatt Sig and a CLI for my Discover.


Did you have a balance reporting at time of request? What reasons did letters give for rejection? Same each time?

In wallet: Ink Plus 10k, AMEX TE 25k. In bag: CSP 16k, USAA WMC 15k, Hyatt 13k, United MPE 12k, AMEX HHonors 3k. In SD: Cap 1 QS 5k, Discover IT 7k. FICO 08 says my EQ is now 844, was 510 in 2010.
Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex CLI vs. new CC


Cdnewmanpac wrote:

While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.


Yes, I definitely have Ficoforumitis. :smileysurprised: :smileytongue: That's why I have to take a break every so often. :smileyhappy:

 

I'm a little confused about the timing of the CLIs... So, if I get a new Amex AND get a CLI on my old Amex in Jan, then I can't get the 61-day CLI on the new one, and I have to wait the regular "6 mos since last CLI" for the new one. Is that right? I guess I hadn't really thought about it, but thought that the 61-day CLI applied regardless of any other CLIs you got on your other Amex cards.

 

Maybe I'm misunderstanding, but it sounds like you can only get ONE Amex CLI every 6 mos period, regarless of how many Amex CCs you have. Or, is it every 6 mos PER CC?

 

Would really appreciate some clarification here. I haven't had more than 1 Amex CC (only Zync and Costco), so it hasn't been an issue. :smileyhappy:

 

 

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!

Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012
0

Re: Amex CLI vs. new CC


bichonmom wrote:

Cdnewmanpac wrote:

While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.


Yes, I definitely have Ficoforumitis. :smileysurprised: :smileytongue: That's why I have to take a break every so often. :smileyhappy:

 

I'm a little confused about the timing of the CLIs... So, if I get a new Amex AND get a CLI on my old Amex in Jan, then I can't get the 61-day CLI on the new one, and I have to wait the regular "6 mos since last CLI" for the new one. Is that right? I guess I hadn't really thought about it, but thought that the 61-day CLI applied regardless of any other CLIs you got on your other Amex cards.

 

Maybe I'm misunderstanding, but it sounds like you can only get ONE Amex CLI every 6 mos period, regardless of how many Amex CCs you have. Or, is it every 6 mos PER CC?

 

Would really appreciate some clarification here. I haven't had more than 1 Amex CC (only Zync and Costco), so it hasn't been an issue. :smileyhappy:

 

 

 


This.


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Senior Contributor
bichonmom
Posts: 3,318
Registered: ‎05-05-2011
0

Re: Amex CLI vs. new CC

Wow. Thanks! In all of the reading I've done on the forum (which is A LOT!), somehow I never caught that. :smileyhappy:

 

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*
EQ FICO 750 | TU FICO 761 (Walmart) | EX FAKO 767 | Goal: 800+

Edits, funky spacing and spelling due to my iPad not getting along with the forum editor!


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}