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I just received my JPM Ritz and decided to apply for the last card I wanted, the Blue Card Everyday. It was an instant approval for ugh, $1000.00. The Amex rep I spoke with informed me that amount was authorized because I had $99,000 in available credit. I haven't totalled everything up but I do not think I reached that amount yet. He went on to say Amex will not extend credit when a customer has reached $100,000 of available credit. I'm call BS. What say you my fellow fico'ers?
I think rep just making stuff up. No idea why you got such a low line. How is your Green Card usage and any payment problems (even under 30 days that arent reported)? I assume you will get less than best terms and should get a letter why. Not that I pay that much attention to the reasons as I find AMEX to just laundry list them, but hopefully give you some insight. Have you checked credit reports lately? Could there be a new negative lingering?
In any case, as young pointed out. AMEX's benefit credit wise is the backdating and the consumer/credit frienly CLI policy. Assuming your credit continues to be good, your AMEX should be one of your highest cards in less than 2 years even from 1k.
If its internal with Amex then I should have a $99,000 window since I only have a 1k revolver with them. Scores are 740s with multiple new accounts. Credit history since 1987. Go figure. I will just SD it and let it grow with 3X.
Maybe they meant with your income they wouldn't go any more?
@navigatethis12 wrote:Maybe they meant with your income they wouldn't go any more?
Maybe for your income level and credit history, Amex feels that 100k is the maximum credit exposure you should have for now.
But, it's also possible that the CSR doesnt know what he/she is talking about.
OP doesn't have anywhere near 100k exposure to AMEX. I highly doubt they mean 100k total revolving limits as there are lots of people with that. If it was an issue, we would have heard it much more from others. Even if it was based on his income, we would have heard it more often from others.
The fact is that the OP got a low limit outlier from AMEX which seems strange given his other limits. I can pretty much tell you the quoted reason is BS. Fact is AMEX is heavily computer based for these decisions and "helpful" reps try to justify what the computer says. As to the real cause(s) of the low limit, if the OP would give us a better idea of their credit profile, it may become more obvious. I would however doublecheck recent credit reports to see if some negative cropped up. Or, the OP can relax and not wory about it as AMEX CLI policies can easily make that Amex his highest card in 2 years or less.