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Considering triggering Amex 4506-T Req via CLI - Update: Got 4506-T'd

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longtimelurker
Epic Contributor

Re: Considering triggering Amex 4506-T Req via CLI


@-Cal- wrote:

@longtimelurker wrote:

Sorry, at the vet, didn't realize immediate participation was required.  

 

Basic story:

 

1) April 24: Submitted CLI request, got a 4506-T, filled in online, and waited.   Called several times, delay blamed on IRS because of tax time.  Eventually told by frontline CSR it was denied.

2) Last week of June.   But when I called the right group to ask the reason, I was told it hadn't been denied, it has just become too old, so I was free to resubmit.  He told me to try a smaller amount in case that avioded the 4506-T but it didn't, so I submitted another 4506-T online.  And waited

3) Last week.  Hadn't bothered calling, so I thought I would try again.  Submitted, got the 4506-T, submitted that.  Not really expecting anything, but who knows.

 

Hope you have better luck.


Wow that sucks, note to self -- don't apply for big increases during tax time.

 

Whats your limit at now? How much did you go for in April? How much are you going for now?

 

I wonder how long they take in a best case scenario. 


My $50K limit was closed by Amex and I was trying to replace it!   The one they gave me shortly after the closure was $15K   (still blows my mind a little, "You abused our rewards system so we are closing your card.   Oh, here's a new ED, a CLI on your BCE and a replacement BC" the first two within days of closure, the last within two months)   So I asked for $40K the first time, $30K the second and $25K last time.    IOne of the other Amexsis  also at $15K, the other at $20K.

 

Now it's just possible that I am getting this strange behavior of CLI Requests going into the void because deep in the system my account is marked as "bad person".   But no human seems to know that, or at least tell me, whereas others in a similar situation did get denied for unsatisfactory relationship.

Message 31 of 44
takeshi74
Senior Contributor

Re: Considering triggering Amex 4506-T Req via CLI - Update: Got 4506-T'd


@-Cal- wrote:

For those of you who have completed an Amex FR 4506-T request, please feel free to share your point of view/stories/tips especially how long it took.


Received the 4506-T.  Filled it out.  Faxed it in.  Waited a couple of weeks.

 

Carefully follow the instructions and make sure everything is legible.  Even if you do that may not guarantee a smooth experience as longtime has demonstrated.  YMMV.

 


@-Cal- wrote:

I went a head and submitted my credit limit increase request for the full amount and got hit with the 4506-T Docusign form


Hopefully that removes one possible issue that AmEx used to have with the manually filled out 4506-T's.

 


@Anonymous wrote:

Question: If I do a CLI at the end of the month and want to try for the 3x CLI, is the top threshold $25,000 w/o them asking for verification? If I do the 3x, my CLI would be $33,000. I have read the forum section on Amex 3x, but this is unclear, and I don't want to read endless pages.


The 3x CLI guide covers this.  The numbers are just guidelines.  They are not set in stone.

 

http://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

Amex may request documentation to support a CLI to a CL above $25K, including a request for a 4506T.

Note the use of the word "may" and that the word is italicized in the guide.  Also from the guide:

 

The following often (but not always) are potential reasons why Amex asks for 4506T for a CLI request. 

 

  • New requested credit limit exceeds $25,000 for that particular account.
  • New requested credit limit would make overall credit extended across all Amex revolving accounts exceed $34,500 (post 123)
  • High internal risk score due to income on file to overall credit across amex and non-amex accounts ratio being too low.
  • Unusual/large/manufactured/risky spending patterns.
Message 32 of 44
Anonymous
Not applicable

Re: Considering triggering Amex 4506-T Req via CLI

What caused the closure specifically? What did you do from their standpoint that was abusive?

 

So you're actually still with a total credit line of $50K with them. Maybe all the requests for CLI are triggering a concern on your part,espcially if you are repeatedly seeking a CLI. They may think that your financial situation has deteriorated. Call an get some clarification. Or you could wait.

 

Do you really need the CLI on the cards or is it just because the possibility exists that you can do it via SP that you are pursuing them? Sometimes I think we become our worst enemies as we pursue more CLI for the sake of pursing them because others are pursuing and getting them. Itis the same thing about getting more CC simply because others are getting new CC. Additionally I think we look at other people's profiles and scores and think dang if they can get card x or card y and with that great limit, I should also be doing. 

 

There's nothing wrong with CLI and applying for new cards, but often the pursuit becomes addictive without any added value.

Message 33 of 44
longtimelurker
Epic Contributor

Re: Considering triggering Amex 4506-T Req via CLI


@Anonymous wrote:

What caused the closure specifically? What did you do from their standpoint that was abusive?

 

So you're actually still with a total credit line of $50K with them. Maybe all the requests for CLI are triggering a concern on your part,espcially if you are repeatedly seeking a CLI. They may think that your financial situation has deteriorated. Call an get some clarification. Or you could wait.

 

Do you really need the CLI on the cards or is it just because the possibility exists that you can do it via SP that you are pursuing them? Sometimes I think we become our worst enemies as we pursue more CLI for the sake of pursing them because others are pursuing and getting them. Itis the same thing about getting more CC simply because others are getting new CC. Additionally I think we look at other people's profiles and scores and think dang if they can get card x or card y and with that great limit, I should also be doing. 

 

There's nothing wrong with CLI and applying for new cards, but often the pursuit becomes addictive without any added value.


I "abused" the OBC, nothing to be said about that in this forum!    They told me to redo the CLI request so I don't think that is the issue.   Yes, my total CL with them is $50K, it was more before.

 

I am not going to call as that didn't get anywhere the first few times.     It was just expecting some response, approval, partial approval, denial, or even FR (if they were concerned) but nothing is a little bit strange.

 

Do I need the CLI?    Not now (I did on the original OBC).

Message 34 of 44
-Cal-
Valued Contributor

Re: Considering triggering Amex 4506-T Req via CLI


@longtimelurker wrote:

I "abused" the OBC, nothing to be said about that in this forum!    They told me to redo the CLI request so I don't think that is the issue.   Yes, my total CL with them is $50K, it was more before.

 

I am not going to call as that didn't get anywhere the first few times.     It was just expecting some response, approval, partial approval, denial, or even FR (if they were concerned) but nothing is a little bit strange.

 

Do I need the CLI?    Not now (I did on the original OBC).


 What does OBC stand for?

Message 35 of 44
CreditCuriosity
Moderator Emeritus

Re: Considering triggering Amex 4506-T Req via CLI


@-Cal- wrote:

@longtimelurker wrote:

I "abused" the OBC, nothing to be said about that in this forum!    They told me to redo the CLI request so I don't think that is the issue.   Yes, my total CL with them is $50K, it was more before.

 

I am not going to call as that didn't get anywhere the first few times.     It was just expecting some response, approval, partial approval, denial, or even FR (if they were concerned) but nothing is a little bit strange.

 

Do I need the CLI?    Not now (I did on the original OBC).


 What does OBC stand for?


Original blue cash..

Message 36 of 44
Anonymous
Not applicable

Re: Considering triggering Amex 4506-T Req via CLI

So what do you mean by, "I "abused" the OBC, nothing to be said about that in this forum!"?  It'll help us all avoid the same mistake. Thanks. 

Message 37 of 44
-Cal-
Valued Contributor

Re: Considering triggering Amex 4506-T Req via CLI

I haven't heard anything back from Amex yet. I'm wondering if they will at least send me a letter with their decision. I'm also wondering if my recent approvals (after CLI request) will impact their decision. Now that I have the OBC shifting some of the limit around will be useful.

 


@Anonymous wrote:

So what do you mean by, "I "abused" the OBC, nothing to be said about that in this forum!"?  It'll help us all avoid the same mistake. Thanks. 


Discussion of abusing the OBC is taboo in these neck of the woods. Its a very deliberate action and you don't know about it, you wouldn't end up in a scenario where you would make the same mistake. 

Message 38 of 44
Anonymous
Not applicable

Re: Considering triggering Amex 4506-T Req via CLI

So you're talking about abusing the Old Blue Card's $50,000 spending limit. This meant you were limited to earning $2,500 in cash back at that attractive 5% cash back level. Guess you manufactured heavy spending, which resulted in the shut down. 

Message 39 of 44
longtimelurker
Epic Contributor

Re: Considering triggering Amex 4506-T Req via CLI


@Anonymous wrote:

So you're talking about abusing the Old Blue Card's $50,000 spending limit. This meant you were limited to earning $2,500 in cash back at that attractive 5% cash back level. Guess you manufactured heavy spending, which resulted in the shut down. 


There was no cap, hence the attraction

Message 40 of 44
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