CL worthiness and Disappointment

[jrz123]

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@nois wrote:

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@jrz123 wrote:

I app'd and received an AMEX BCE but when I got the initial CL, I was disappointed as I've seen much higher from others on this forum. Here's my question, I had 0% util at time of app but scores above 790, decent TL's and no baddies.  One of my old BOFA cards is a low CL card, could the single low limit card be responsible for lower starting CL from Amex? 9 mos ago I got double the limit on a discoverit card.  I know at 61 days I can request CLI but wondering if I should take another HP and request an increase on this BOFA card or did the 0% util impact the starting limit?

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My situation when I app'ed for amex was very similar and I also got a CL lower than I expected. Not sure why but the new CL was midway between my highest and lowest CL on other accounts.  I was successful in getting 3X CLI at 61 days.

If a CLI on your BofA account would be valuable to you, now (at or close to 0% util) would probably be a good time to request it. Also a good time to PC if you're interested in another of their products.

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Interesting.. yes, I see my starting limit is midway between highest and lowest as well.  I wasn't complaining about an 8K limit as much as this is the last card I want for a long time and since Discover was so generous I thought Amex would be too, just more of a curiosity than anything on the mysteries behind FICO.  Thanks!

[jrz123]

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@Creditaddict wrote:

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@jrz123 wrote:

8K was starting cl

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What are your other limit cards?

Keep in mind that while $8k might be low for your credit profile (I don't know yet) Amex is up for possible 3x CLI at 61 days = $24k!

I sometimes think Amex gives out initial CL's based on what the first CLI will be (probably not really true, but about the only bank that does 3x cli at 61 days)

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the 8K fell between low and high limits.. Granted, 8K is nothing to sneeze at, I guess the Discover app got me too optimistic. Thanks

[jrz123]

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@lg8302ch wrote:

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@jrz123 wrote:

8K was starting cl

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?

low CL ... I am really confused now !  Do you have the income to support 72K+ CL within the next year ?  If not then you have really nothing to worry about. In 2 months it could be 24K...would that sound better to you?

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Considering it was half of what Discover gave me less than a year ago with lower scores, yes, I considered 8K in the lower range.  I'm not complaining about 8K and do realize it can triple in 61 days (and yes, that will sound better to me .  I am fortunate enough to be ablke to PIF however, if a situation presented itself where I wanted to keep util under 7%, 8K falls a bit short of the mark from that perspective.. 24K is much more favorable for util monitoring. Curiosity on how it all plays together more than anything else.

[lg8302ch]

Maybe it makes you feel a bit better ...Discover gave me 2,5K and it took me 15 months to match my 2nd lowest CL. This happened finally 2 weeks ago. Now I can use the card with 5K. Before it was really a nightmare. Got my Discover at the same time as Amex and had a difference of 10 x the CL for almost a year.... that is how stingy lenders can be but Amex at least grows fast. Good luck on the 61 day CLI

[takeshi74]

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@jrz123 wrote:

I wasn't complaining about an 8K limit as much as this is the last card I want for a long time and since Discover was so generous I thought Amex would be too

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I wouldn't just assume them to be comparable.  My limit with Discover is a little under 1/5th of my BCP.  Limits aren't just assigned based on other limits either.

[maksimfa]

Keep in mind, when amex looks at an app, they favor history with amex.   They also heavily factor in your income vs avail credit out there. Read the 3x cli thread for data points.

wife just got a discover it for 11k. Amex just one upped on a new app for BC for 11.4k and her highest limit.  Her first amex was $2k, which was auto cli by amex to $3,5. 

61 days looking to cli her to $30k.

[-Wade-]

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@jrz123 wrote:

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@lg8302ch wrote:

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@jrz123 wrote:

8K was starting cl

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?

low CL ... I am really confused now !  Do you have the income to support 72K+ CL within the next year ?  If not then you have really nothing to worry about. In 2 months it could be 24K...would that sound better to you?

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Considering it was half of what Discover gave me less than a year ago with lower scores, yes, I considered 8K in the lower range.  I'm not complaining about 8K and do realize it can triple in 61 days (and yes, that will sound better to me .  I am fortunate enough to be ablke to PIF however, if a situation presented itself where I wanted to keep util under 7%, 8K falls a bit short of the mark from that perspective.. 24K is much more favorable for util monitoring. Curiosity on how it all plays together more than anything else.

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The question was what is your DTI ??!?

[lg8302ch]

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@Wade64 wrote:

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@jrz123 wrote:

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@lg8302ch wrote:

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@jrz123 wrote:

8K was starting cl

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?

low CL ... I am really confused now !  Do you have the income to support 72K+ CL within the next year ?  If not then you have really nothing to worry about. In 2 months it could be 24K...would that sound better to you?

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Considering it was half of what Discover gave me less than a year ago with lower scores, yes, I considered 8K in the lower range.  I'm not complaining about 8K and do realize it can triple in 61 days (and yes, that will sound better to me .  I am fortunate enough to be ablke to PIF however, if a situation presented itself where I wanted to keep util under 7%, 8K falls a bit short of the mark from that perspective.. 24K is much more favorable for util monitoring. Curiosity on how it all plays together more than anything else.

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The question was what is your DTI ??!?

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3%...probably too low for Discover ?