Feedback before my AmEx CLI request

[lhcole77]

Ok Team:

I'm eligible for a 61 day 3 x CLI request now.

Last statement posted at $864 (out of $9,500 CL). Overall UTL last month posted at 13%.

Current balance on AmEx is ~$1500. Thinking I should pay the $864 (on Friday--which is pay day) before I request CLI. That way I would have two consecutive months with over $850/mo in charges which have been PIF.

Thoughts?

[djc1puno]

Sounds good! Gl!

[DrJim]

What new CL are you looking for?  The automated system will only allow you to go up to $25K.  Anything above that USUALLY requires income verification through your tax forms.  At that point you need to have the income to justify the new CL.  For $25K and the automated system, if you have the income, that should be pretty easy.

But, conventional wisdom always says to ask for CLI's with a zero balance.

Good luck.  Let us know how things turn out.

[lhcole77]

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@DrJim wrote:

What new CL are you looking for?  The automated system will only allow you to go up to $25K.  Anything above that USUALLY requires income verification through your tax forms.  At that point you need to have the income to justify the new CL.  For $25K and the automated system, if you have the income, that should be pretty easy.

But, conventional wisdom always says to ask for CLI's with a zero balance.

Good luck.  Let us know how things turn out.

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Thanks! I'm not going to ask for the full 3 x. My goal is to get a $7,500 CLI, which will bring my card to $17,000.

[myjourney]

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@lhcole77 wrote:

Ok Team:

I'm eligible for a 61 day 3 x CLI request now.

Last statement posted at $864 (out of $9,500 CL). Overall UTL last month posted at 13%.

Current balance on AmEx is ~$1500. Thinking I should pay the $864 (on Friday--which is pay day) before I request CLI. That way I would have two consecutive months with over $850/mo in charges which have been PIF.

Thoughts?

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I would wait until paid in full $0 balance that's just the way I do it. It does not have to be on the 61st day you can put it off and still get the CLI IMHO

Good luck should you go for it 

[09Lexie]

Good luck!

[bman86]

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@lhcole77 wrote:

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@DrJim wrote:

What new CL are you looking for?  The automated system will only allow you to go up to $25K.  Anything above that USUALLY requires income verification through your tax forms.  At that point you need to have the income to justify the new CL.  For $25K and the automated system, if you have the income, that should be pretty easy.

But, conventional wisdom always says to ask for CLI's with a zero balance.

Good luck.  Let us know how things turn out.

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Thanks! I'm not going to ask for the full 3 x. My goal is to get a $7,500 CLI, which will bring my card to $17,000.

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You should still ask for the full 25k, if you're income doesn't support it they'll come back and counter offer. No point in leaving extra money on the table.

[lhcole77]

Thanks! I am thinking that I will pay the $864 on Friday and then request.

I'm totally ok with statements cutting on this account and then PIF. I think that it's good for statements to cut with balances from time to time and then PIF. I think it shows healthy spending and reponsible payment history.

[lhcole77]

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@bman86 wrote:

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@lhcole77 wrote:

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@DrJim wrote:

What new CL are you looking for?  The automated system will only allow you to go up to $25K.  Anything above that USUALLY requires income verification through your tax forms.  At that point you need to have the income to justify the new CL.  For $25K and the automated system, if you have the income, that should be pretty easy.

But, conventional wisdom always says to ask for CLI's with a zero balance.

Good luck.  Let us know how things turn out.

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Thanks! I'm not going to ask for the full 3 x. My goal is to get a $7,500 CLI, which will bring my card to $17,000.

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You should still ask for the full 25k, if you're income doesn't support it they'll come back and counter offer. No point in leaving extra money on the table.

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I like the way you think! No harm, no foul, right?