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Established Member
Posts: 20
Registered: ‎07-09-2009
0

Re: CLI Advice on Discover and Amex

Discover- moderate use and try to pay down your balance each month, below 40%, PIF is best. DO NOT take any cash advance on the card. I made the mistake of getting that $60 cash back at check out at Sam'Club.  I now plan to put most of my household bills on the card and PIF each month for the next  3 months and then ask for a CLI. Have not received an auto CLI I feel because of the high monthly balances and the use of the cash advances. I have had my card since 9/10 with a $5000 limit. Discover is somewhat conservative on the average with CLI in $2000 increments. Some lucky people have done much better.

 

AMEX- although you have a credit card, I would not revolve a balance early on. PIF for the first 6 months and then as for a CLI. Base on your credit profile, you can obtain your first CLI after 60 days, and then every 6 months. The more history you have with any company, the better it will be for obtaining the CLI you desire. Amex has been known to give CLI to 3x you current limit. ex.  $5000 to $15000 limit. Again, the key is to PIF each month before the "closing date" to show a zero statement balance.Also, avoid taking any cash advance.

 

Congratulations on having two great credit cards! Take care of them and they will take care of you.

Epic Contributor
Posts: 25,861
Registered: ‎10-23-2007
0

Re: CLI Advice on Discover and Amex

 


DJH87 wrote:

Discover- moderate use and try to pay down your balance each month, below 40%, PIF is best. DO NOT take any cash advance on the card. I made the mistake of getting that $60 cash back at check out at Sam'Club.  I now plan to put most of my household bills on the card and PIF each month for the next  3 months and then ask for a CLI. Have not received an auto CLI I feel because of the high monthly balances and the use of the cash advances. I have had my card since 9/10 with a $5000 limit. Discover is somewhat conservative on the average with CLI in $2000 increments. Some lucky people have done much better.

 

AMEX- although you have a credit card, I would not revolve a balance early on. PIF for the first 6 months and then as for a CLI. Base on your credit profile, you can obtain your first CLI after 60 days, and then every 6 months. The more history you have with any company, the better it will be for obtaining the CLI you desire. Amex has been known to give CLI to 3x you current limit. ex.  $5000 to $15000 limit. Again, the key is to PIF each month before the "closing date" to show a zero statement balance.Also, avoid taking any cash advance.

 

Congratulations on having two great credit cards! Take care of them and they will take care of you.


I disagree, I see no harm in taking the cash back, it doesn't even appear in your statement, it goes through as a regular purchase.

 

Fico Scores 8: EX 694. TU 689. EQ 658. 05/26/2015
Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: CLI Advice on Discover and Amex

I got $20 cashover all the time and still got CLIs and no AA from them.  If they didn't won't carmembers to use the cashover feature they wouldn't be providing it. 

Super Contributor
Posts: 5,759
Registered: ‎01-28-2008
0

Re: CLI Advice on Discover and Amex

 


DJH87 wrote:

Discover- moderate use and try to pay down your balance each month, below 40%, PIF is best. DO NOT take any cash advance on the card. I made the mistake of getting that $60 cash back at check out at Sam'Club.  I now plan to put most of my household bills on the card and PIF each month for the next  3 months and then ask for a CLI. Have not received an auto CLI I feel because of the high monthly balances and the use of the cash advances. I have had my card since 9/10 with a $5000 limit. Discover is somewhat conservative on the average with CLI in $2000 increments. Some lucky people have done much better.

 

AMEX- although you have a credit card, I would not revolve a balance early on. PIF for the first 6 months and then as for a CLI. Base on your credit profile, you can obtain your first CLI after 60 days, and then every 6 months. The more history you have with any company, the better it will be for obtaining the CLI you desire. Amex has been known to give CLI to 3x you current limit. ex.  $5000 to $15000 limit. Again, the key is to PIF each month before the "closing date" to show a zero statement balance.Also, avoid taking any cash advance.

 

Congratulations on having two great credit cards! Take care of them and they will take care of you.


I suppose cash advances are different than cashover.

 

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