cancel
Showing results for 
Search instead for 
Did you mean: 

Is it true Amex Cardholders...

Established Member

Is it true Amex Cardholders...

I'm curious to find out about this credit limit increase after 61 days. I want to know is it true that they actually give you 3 times your starting limit? I was approved for the BCE this past weekend with a limit of $8000. So sometime in January I can expect a limit increase of oover $20k? Seems a bit extreme to me. I guess maybe it depends on your income as well as how much you charge monthly to justify it. Can anyone back this up?
Message 1 of 8
7 REPLIES
Established Contributor

Re: Is it true Amex Cardholders...

+1

Message 2 of 8
Established Contributor

Re: Is it true Amex Cardholders...

It's not guaranteed, but it happens often enough to be regarded as pretty typical.

 

I think the most important thing to take away is that by AmEx's own estimation it is reasonable to request a 3x increase. And then they may give it to you, or counter-offer a lower amount, or say "wait a bit".

 

FWIW, when I previously had an AmEx revolver I was unaware of this custom. For my first CLI I asked for 2.5x and ended up getting 2x. As always in the credit world, your mileage may vary.

Starting: EQ 622 (myFICO 7/7/12), EX 696 (TU FAKO 8/14/12), TU 621 (CK TransRisk 7/24/12), Total CL $1k on 2 TLs
Current: EQ 709 (CCT 2/4/15), EX 704 (CCT 2/4/15) , TU 702 (CCT 2/4/15), Total CL $110.3k on 14 TLs Goal: 740+ x3
My Wallet: Amex BCP $30k, Chase United Explorer $16k, Amex SPG $13.5k, Barclaycard Ring MC $12.5k, Chase CSP VS $12.2k, Discover it $10.5k, C1 Venture VS $6.5k, Chase Slate $3.5k, Amex Hilton Surpass $2k, Barclaycard Apple V $2k, Chase Freedom V $1100, BoA Cash Rewards V $500, Citi BestBuy $500
My Loans: Prosper $25k/36mo, Prosper $17k/36mo
My Business: Chase Ink VS $5k, Amex BRG NPSL (> 10k),
Message 3 of 8
Established Member

Re: Is it true Amex Cardholders...

Ok so it is pretty possible then. I just don't think I would want to actually ask for $24,000 because I don't need it per say I would jus like to have a larger total credit limit to decrease utilization. What is a financial review because I've seen people bring it up in other forums? And if it it comes out bad what happens?
Message 4 of 8
Highlighted
Frequent Contributor

Re: Is it true Amex Cardholders...

Just to give you an idea, I was at 7,500 and requested the full 3x CLI. Amex countered at 19.2k. So I got about a 2.5x CLI from them.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Message 5 of 8
Established Member

Re: Is it true Amex Cardholders...

Jeez that's great. I can't wait until my 2 months roll around. I haven't even got my card yet and I'm already looking into the future. Do you have to spend a lot of money on the card per month or is it kind of like a unwritten thing and it doesn't really matter?

 

Message 6 of 8
Frequent Contributor

Re: Is it true Amex Cardholders...

Some have had experience where it does not matter. Others who have gotten the card and requested 3x CLI and did not spend much have gotten rejected. I personally use Amex as my main card (originally my charge cards) but moved my spend on them over to the BCE to show activity. Typically I put about 1.5k per month through them. Now I use both charge and credit from them just to mix things up a bit.

In my wallet: Amex PRG & Zync, Amex BCE (19.2k), Chase Freedom (5k), PSECU Visa/PSL (20k)
Current Scores: Equifax: 738 (Fako) TransUnion: 721 (Fico) Experian: 717 (Fico)
Disclaimer: I am by no means a financial advisor. My posts are based on opinion, experience, and/or knowledge.
Message 7 of 8
Established Member

Re: Is it true Amex Cardholders...

Ok I will try to use it as much as possible to show activity. I used to have the Green card but I canceled it a few months back. 

Message 8 of 8