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Member
Posts: 43
Registered: ‎05-06-2010
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Frequency of CLI requests? Is it just me or is Amex extremely strict?

I've had an Amex Blue for a little over 3 years, it has a paltry $1.3K credit line, yet I've never been late on any of my credit cards or prior auto loans, and i have fairly good credit.  In January 2010 I had requested a CLI for my Amex Blue and at the time my utilization was 70% and they denied it, reporting that my interest rate was jacked up to 30% due to a mailed in check payment arriving 2 days late March of 09 (not reported, but justified a rate increase :smileymad:). The customer service representative informed me that they would need 12 months of payments on time before they lowered the interest back down.  Since all of my payments had been early since then, it would just be a matter of months before I could make a new CLI / Int rate adjustment request...

 

I was quite offended by the rate they jacked me up to (I was using auto bill pay to manage that smaller card) and promptly paid down that credit card to 1% utilization in a month and have been waiting for a year to pass so they can lower my interest rate and give me a credit line that is a bit more commensurate with my other creditors (BOFA, Wells, with $10K LOC, aged 5 years always on time).  It's been over a year of early payments, so it's about time to  request again I think...

 

They struck me as being overly strict with their lending and have me wondering how frequently I should be requesting CLI?  I usually request one every 1-2 years and my creditors (3 CCs total) have always approved, with no hard inquiries. Amex is the only one that hasn't been too friendly with me.


Starting Score 5/6/10:Transunion: 740 Equifax: 732 Experian PLUS: 761
Current Score (6/15/10):
Transunion: 756 Equifax: 767 Experian PLUS: 771
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Transunion: 770 Equifax: 770 Experian PLUS: 785
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?


Mifune wrote:

In January 2010 I had requested a CLI for my Amex Blue and at the time my utilization was 70% and they denied it,  


Hi Mifune,

 

Are you meaning Jan 2010 or Jan 2009?

 

70% utilization is pretty high and certainly had an impact on their decision. Was that utilization on the Amex card?  

 What is your utilization sitting at now?

 

Just puttin' syrup on something, don't make it pancakes.
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Posts: 43
Registered: ‎05-06-2010
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

 


beamMEup wrote:

Mifune wrote:

In January 2010 I had requested a CLI for my Amex Blue and at the time my utilization was 70% and they denied it,  


Hi Mifune,

 

Are you meaning Jan 2010 or Jan 2009?

 

70% utilization is pretty high and certainly had an impact on their decision. Was that utilization on the Amex card?  

 What is your utilization sitting at now?

 


 

I had put in a CLI request with Amex Jan 2010, which was when they had informed me that there was a 2 day late payment around March-April of 09, and they would need a year of good payments before they return my APR back to normal. 

 

I had 70% utilization on the Amex card at the time of the request,  since the card had a credit line of only $1300 dollars (it was very easy for it that card alone to become overutilized.) 

 

That Amex is now under 1% utilization as I have a balance of $45.00 on that $1300.00 credit line. 

 

My total credit utilization (of all credit cards, totalling ~$20,000 available credit) is around 35%, and will be down to around 15% in a month as I pay it all down.

 

Since i've been 1 year plus with perfect pay history on that Amex + low/no utilization, I've been thinking it might be time to re-request that CLI.


Starting Score 5/6/10:Transunion: 740 Equifax: 732 Experian PLUS: 761
Current Score (6/15/10):
Transunion: 756 Equifax: 767 Experian PLUS: 771
Goal Score:
Transunion: 770 Equifax: 770 Experian PLUS: 785
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New Contributor
Posts: 69
Registered: ‎06-08-2007
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

AMEX wants you to wait at least 6 months inbetween requests for a LOC increase.  It will be auto denied if less than 6 months.  AMEX also does a soft pull every month, so MAY NOT do a hard, but that can't be promised and the CCP on the phone can't say if they will or not.

 

As to the APR, go ahead and call at this point. You can even call each and every month.  Although the standard is a 12 month waiting period, I've seen them lowered prior to that.

 

Just remember, if you get a survey, anything less than an EX 9 or 10 hurts the CCP, even if they are only the one delivering the message.


Starting Score: EQ 650 TU ???
Current Score: EQ 683 TU 777
Goal Score: EQ 750 TU 800


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Member
Posts: 43
Registered: ‎05-06-2010
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

Great, thank you the info! I'll go ahead and see if they can lower my APR in the meantime. Won't hurt me if I keep this card around for a few months with its low credit limit, but it'll definitely hurt if they feel they need to do a hard pull, particularly since i'm planning on buying an auto in 2 months (0 hard inquiries atm) and trying to maximize my credit profile by lowering utilization.

Starting Score 5/6/10:Transunion: 740 Equifax: 732 Experian PLUS: 761
Current Score (6/15/10):
Transunion: 756 Equifax: 767 Experian PLUS: 771
Goal Score:
Transunion: 770 Equifax: 770 Experian PLUS: 785
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Senior Contributor
Posts: 3,689
Registered: ‎01-10-2008
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

[ Edited ]

 


Mifune wrote:

I've had an Amex Blue for a little over 3 years, it has a paltry $1.3K credit line, yet I've never been late on any of my credit cards or prior auto loans, and i have fairly good credit.  In January 2010 I had requested a CLI for my Amex Blue and at the time my utilization was 70% and they denied it, reporting that my interest rate was jacked up to 30% due to a mailed in check payment arriving 2 days late March of 09 (not reported, but justified a rate increase :smileymad:). The customer service representative informed me that they would need 12 months of payments on time before they lowered the interest back down.  Since all of my payments had been early since then, it would just be a matter of months before I could make a new CLI / Int rate adjustment request...

 

I was quite offended by the rate they jacked me up to (I was using auto bill pay to manage that smaller card) and promptly paid down that credit card to 1% utilization in a month and have been waiting for a year to pass so they can lower my interest rate and give me a credit line that is a bit more commensurate with my other creditors (BOFA, Wells, with $10K LOC, aged 5 years always on time).  It's been over a year of early payments, so it's about time to  request again I think...

 

They struck me as being overly strict with their lending and have me wondering how frequently I should be requesting CLI?  I usually request one every 1-2 years and my creditors (3 CCs total) have always approved, with no hard inquiries. Amex is the only one that hasn't been too friendly with me.


 

typically won't accept 2 card holder initiated limit increase requests within the same 6 mos period.  

they'll get friendlier with lotsa usage and PIF but if you give them ammo, things head south.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Contributor
Posts: 739
Registered: ‎06-30-2007
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

They are required to reeset your after six months on time payments
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS
Member
Posts: 43
Registered: ‎05-06-2010
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

Haha truly.  Describing it as a card with PMS is giving them too much credit though, as it's that time of the month every single day with them it seems.  I wonder if I can reactivate one of my older inactive accounts and replace them down the line..  I'm also disappointed with American Express' security on their customer login page-- they only allow very short and easy to compromise passwords, maximum of 8 characters!


Starting Score 5/6/10:Transunion: 740 Equifax: 732 Experian PLUS: 761
Current Score (6/15/10):
Transunion: 756 Equifax: 767 Experian PLUS: 771
Goal Score:
Transunion: 770 Equifax: 770 Experian PLUS: 785
Take the FICO Fitness Challenge
Valued Member
Posts: 203
Registered: ‎07-05-2009
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

I have been extremely happy with AmEx and have experienced better customer service with them than any other company. They've always been outstanding with any issue I've ever had and also with disputes. They always seem to be on my side and have my back! But they do have strict policies/consequences for late payments etc. So it doesn't surprise me that they declined your CLI immediately following a late payment -- even if it was only two days late. (Especially in the misdst of what was happening with the economy and consumer debt, especially a year ago, they probably weren't taking any chances.) Best to make sure you pay earlier rather than even a day late if you can avoid it.

 

I would suggest that if you plan to pay down your other credit cards/utilization, wait for two months after you pay them down, when you know this will be reported on your credit reports, before requesting your AmEx CLI and you'll probably get a larger increase.

 

Also, if you are concerned about a hard inquiry, call and talk to a rep to request the CLI. Make sure they know you'd like to request a CLI based on account review and soft inquiry -- make it clear that you do not want to authorize a hard inquiry. If you don't trust that the rep understands what you're talking about, ask to speak to a supervisor. They cannot do a hard inquiry without your authorization.

 

Good luck!

Frequent Contributor
Posts: 449
Registered: ‎02-21-2009
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Re: Frequency of CLI requests? Is it just me or is Amex extremely strict?

 


Mifune wrote:

Haha truly.  Describing it as a card with PMS is giving them too much credit though, as it's that time of the month every single day with them it seems.  I wonder if I can reactivate one of my older inactive accounts and replace them down the line..  I'm also disappointed with American Express' security on their customer login page-- they only allow very short and easy to compromise passwords, maximum of 8 characters!


I'm not liking their login security policy either.  I wish they would implement a sitekey like the one used on Bank of America's online banking site.

 

TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
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