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I planned it out and today, on my 61st day, I requested a 3x CLI on my BCP. Yes, that request was declined!
I'm shocked because my credit reports and scores are even better than when I originally apped, so I'm confused as to why they'd decline my request.
What should I do next? Recon? Call their recon #? They offered to do a menual review, but I wasn't sure if it'd make it a HP or not. This is disappointing and frustrating. Of course, your advice is appreciated and I thank you in advance.
What is your current limit? If it is small like $1,000 then Amex is very tight with cli's for a while.
It's a modest limit, so I guess it's just a waiting game. At least it's only a SP with the decline.
Who knows? Maybe they'll offer me an auto CLI in the next 6 months as I continue to rack up the balance and pay it off. I've been swiping like crazy - maybe that'll work in my favor.
My second credit card which I applied was a Blue Cash Everyday in July 2015. I was approved for a 2000 starting credit limit, which through an immediate CLI request on my part, managed to double to 4000 by August. This March I requested another CLI to get to 11,500 and this Month I requested another CLI to get to 24,500.
Essentially, I was able to do it with incredibly young credit, having just one credit line of any sort with an age of 5 months prior to applying for the BCE. I ran approximately 600-800 a month from July to about February of this year, paid in full and immediately, and have had no problems reaching my current CL.
Just to clarify, this is your first CLI request with American Express? How have you been spending and paying with them across all of your accounts?
Did you receive a reason for the denial?
Is there a chance you were off by 1 day on your request date? If so, perhaps something as simple as trying again tomorrow or the next day may yield a favorable result.
Don't be surprised if the letter says something about not enough history with AMEX. My 61 day was declined on my ED for that reason and my scores went up 80 points. I'm hoping they see it differently when I app for a CLI on my BCE next week.
Not enough history to me would imply that the 61+ day general guideline wasn't met... the same way if a CLI is requested inside of 180 days after an initial CLI that is the typical reason given.
OP, in order to get some idea of reasons, a bit more specifics are needed:
How long have you had the Platinum? How long the revolver?
What is the specific limit on your revolver?
What are you using as the start date for the 61 days?
What was your EX score at the time of the app?
How has your EX score changed since then? When was the Chang in score that you saw, on EX and what caused the score to improve?
AMEX uses a SP for the CLI, and that SP may be 2 months or more in the past. If your score improved more recently, and AMEX has not done any other SP, then the score changes would not be available for them to see.
@Anonymous wrote:Not enough history to me would imply that the 61+ day general guideline wasn't met... the same way if a CLI is requested inside of 180 days after an initial CLI that is the typical reason given.
I verified with them and it was my 63rd day. They wanted more history because of my AAOA.
@Anonymous wrote:Not enough history to me would imply that the 61+ day general guideline wasn't met... the same way if a CLI is requested inside of 180 days after an initial CLI that is the typical reason given.
That isn't what it means. What it means is that the cardholder is dangling at the edge of the risk threshold and Amex wants more evidence of credit worthiness before raising the limit.