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Regular Contributor
lionsfan20
Posts: 195
Registered: ‎11-26-2012
0

How often amex does financial reviews?

I want to increase my limit to 20k after starting at 15k in july..my problem is I really dont have any income and IM afraid they might to a f/r.

 

Anyone ever been reviewed for requesting? and if they have , was it a bad experience?

Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: How often amex does financial reviews?

Ignoring the obvious question of why you might need it, from what I've seen, anything that changes the pattern of normal behavior could be open to a F/R.  I'd assume this includes requesting more credit.  However people on here seem to request AMEX CLI at 2 mos, and every 6 mos after, so I can't imagine it's commonplace.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
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Regular Contributor
lionsfan20
Posts: 195
Registered: ‎11-26-2012
0

Re: How often amex does financial reviews?

Well Ive put through about 2k for holidays and unlike most people..I dont believe in paying in full so I want to have more credit so it dont affect the util

Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012
0

Re: How often amex does financial reviews?

I'd think reporting balances in conjunction with the CLI might boost a FR chance, but if the UTIL is only like 10% I don't think anyone's flagging you or anything.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
Chase Freedom $5000
DCU Visa $10000
Capital One QS $2000
AMEX BCE $1000
Lowe's CC $8500
WalMart CC $2400
BOA Platinum $600
AMEX Gold NPSL
Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: How often amex does financial reviews?


lionsfan20 wrote:

Well Ive put through about 2k for holidays and unlike most people..I dont believe in paying in full so I want to have more credit so it dont affect the util


What does "I don't believe in paying in full" mean?   You choose to carry a balance?  Is it a 0% promo?

Senior Contributor
Walt_K
Posts: 3,065
Registered: ‎11-02-2009
0

Re: How often amex does financial reviews?

Not being able to pay your bill, and not having any income, are not good reasons to request a CLI.  But if they don't approve you, I doubt they'd do a financial review. 


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Regular Contributor
lionsfan20
Posts: 195
Registered: ‎11-26-2012
0

Re: How often amex does financial reviews?

Not once did I say I couldnt pay it..there is absolutely no sense in having a revolving card if your going to pif every month..everyone iVe seen here who does that is SUPER paranoid about loosing a few points off their score to pif...If you want to pif get a charge card , other wise that is the whole purpose of revolving cards.

Frequent Contributor
jake619
Posts: 496
Registered: ‎11-13-2012
0

Re: How often amex does financial reviews?


lionsfan20 wrote:

Well Ive put through about 2k for holidays and unlike most people..I dont believe in paying in full so I want to have more credit so it dont affect the util



lionsfan20 wrote:

I want to increase my limit to 20k after starting at 15k in july..my problem is I really dont have any income and IM afraid they might to a f/r.


How does that work?

GangnamFICO wrote:

Because the chicks dig it when I throw down the card to the waiter and...it comes in handy if I'm short on cash until payday and need a short spot. AMEX gets the booty, and that's important when you're a Pirate.


Minor vulgarity edit --Rev



Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
0

Re: How often amex does financial reviews?


lionsfan20 wrote:

Not once did I say I couldnt pay it..there is absolutely no sense in having a revolving card if your going to pif every month..everyone iVe seen here who does that is SUPER paranoid about loosing a few points off their score to pif...If you want to pif get a charge card , other wise that is the whole purpose of revolving cards.


OK, guess it depends what you mean by PIF.   People here who are "SUPER paranoid" pay in full BEFORE the statement cuts.  Is that what you mean?

Others PIF each month (after the statement cuts) to avoid interest charges.   If you are in a 0% period, that doesn't matter.

 

But your statement is false anyway.  I have a BCP, the whole purpose of which is to get the 6% discount on groceries.  PIF to avoid interest makes perfect sense.  Interest tends to negate any rewards benefit, and in this environment, interest charges are generally much greater than interest you receive in checking/saving.

Contributor
pkosheta
Posts: 99
Registered: ‎08-13-2008
0

Re: How often amex does financial reviews?

It may be a revolving credit card, but AMEX does not like people carrying balances for more than a month or 2.  If you hold A balance for more than that expect a CLD Or worse.  Also consider a BT to a 0% card or a lower apr card if you plan on holding onto the debt.  Rewards cards are known for having terrible interest rates.

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