NEED ADVICE- Just spontaneously decided to do the Amex 3x CLI

[Anonymous]

So I was at an 11,000 CL with my EDP.  I decided to request 30,000 for the heck of it (didn't do the full 3x, which would've been 33,000.  I like having whole numers).  I got approved instantly for it.

Now, I'm having second thoughts about this choice... I just did it for the heck of it, because I was not expecting approval.  

1. Won't having such a large amont of credit relative to my income (my income is 50k/year) hurt my chances of approval for other cards (my total credit is now 48k + NPSL)?

2. Also, can this cause adverse action by my other CCCs like Chase and Citi like the closing of my accounts with them?  

3. Is it better for me to request a CLD from Amex?

I am honestly kind of scared now that I got approved.  I was thinking that I would get a counter-offer from them, rather than a hard approval.  Any advice is appreciated!

[jason86423]

I wouldn't worry too much about it.. I make $75K / yr and have just over $450 K in available lines.

Keep your new accounts to a couple a year and utilization low and you will more than likely be ok.

[Anonymous]

Holy crap man 450k of CL?!  How many cards?  I plan on doing a 3x CLI on my Amex I was just approved for and request 60k in 3 months.  Good to know you got a 30k approved without issues.  I honestly think the higher the CL the better if you don't keep much on them. 

[jamesdwi]

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@Anonymous wrote:

Holy crap man 450k of CL?!  How many cards?  I plan on doing a 3x CLI on my Amex I was just approved for and request 60k in 3 months.  Good to know you got a 30k approved without issues.  I honestly think the higher the CL the better if you don't keep much on them. 

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depending on your AMEX relationship length, history and income, reuquesting over $35k has been known to trigger a request for a 4506-t form before the request will be granted. If you have a 20 year credit history and multiple year AMEX relationship, a750+ fico, income over $200k, and a history of  large spending and low UTL, you may not get the request, but I would expect the request. 

[Chris679]

1. No
2. No
3. No

[Involver]

Nice work. Amex must appreciate your business if they've extended that much credit based on your income. I wouldn't worry about a thing, just keep doing what you're doing.

[Anonymous]

Generally having a large credit limit with another issuer can be a good thing. Sometimes you can call for a cl and say "Look I would love to use your card more but I am thinking of getting a mortgage soon and want to keep my util down. AMEX gave me 30k so I am using that card only now. If you can at least give me 20k with a sp I'll use your card more" 

[longtimelurker]

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@Chris679 wrote:
1. No
2. No
3. No

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I would replace 1 with "Maybe"     Some very conservative lenders may decide you have enough credit for income and deny you a card (or a CLI or something).

[Anonymous]

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@Anonymous wrote:

So I was at an 11,000 CL with my EDP.  I decided to request 30,000 for the heck of it (didn't do the full 3x, which would've been 33,000.  I like having whole numers).  I got approved instantly for it.

Now, I'm having second thoughts about this choice... I just did it for the heck of it, because I was not expecting approval.  

1. Won't having such a large amont of credit relative to my income (my income is 50k/year) hurt my chances of approval for other cards (my total credit is now 48k + NPSL)?

2. Also, can this cause adverse action by my other CCCs like Chase and Citi like the closing of my accounts with them?  

3. Is it better for me to request a CLD from Amex?

I am honestly kind of scared now that I got approved.  I was thinking that I would get a counter-offer from them, rather than a hard approval.  Any advice is appreciated!

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1-  Yes (on manual reviews, the computer wouldn't care)

2-  No

3-  No

I hope you realize that some of the advice here should be taken, or rather not taken, with a grain of salt.  Many times, what you find is like a cannabis user that is worried about his habit, being told not to worry by someone who claims to be taking cannabis, heroin, crack and Angel Dust "with no  bad consequences whatsoever..."

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