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Established Contributor
lhcole77
Posts: 952
Registered: ‎09-18-2012

Feedback before my AmEx CLI request

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?




EX08 FICO 738. EQ08 FICO 736. TU08 FICO 732.
Valued Contributor
djc1puno
Posts: 1,715
Registered: ‎03-07-2013

Re: Feedback before my AmEx CLI request

Sounds good! Gl! :smileywink:


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DrJim
Posts: 362
Registered: ‎10-26-2009

Re: Feedback before my AmEx CLI request

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.



Starting Score: TU 672 EQ 654 10/20/09
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Established Contributor
lhcole77
Posts: 952
Registered: ‎09-18-2012

Re: Feedback before my AmEx CLI request


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.


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.




EX08 FICO 738. EQ08 FICO 736. TU08 FICO 732.
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Senior Contributor
myjourney
Posts: 25,246
Registered: ‎02-07-2013

Re: Feedback before my AmEx CLI request


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?


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 :smileywink:

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09Lexie
Posts: 24,405
Registered: ‎09-13-2012

Re: Feedback before my AmEx CLI request

Contributor
bman86
Posts: 175
Registered: ‎06-28-2013

Re: Feedback before my AmEx CLI request


lhcole77 wrote:

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.


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.


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.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Established Contributor
lhcole77
Posts: 952
Registered: ‎09-18-2012

Re: Feedback before my AmEx CLI request

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.




EX08 FICO 738. EQ08 FICO 736. TU08 FICO 732.
Established Contributor
lhcole77
Posts: 952
Registered: ‎09-18-2012

Re: Feedback before my AmEx CLI request


bman86 wrote:

lhcole77 wrote:

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.


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.


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.


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




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