OH MY GAWD! AMEX F/R ON DAY OF ACTIVATION!

[ocheosa]

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aftermath wrote:
So I received my AMEX Delta Skymiles in the mail yesterday and decided to phone in the activation.

After speaking with the nice CSR, I inquired about a credit line increase, she told me I would have to call the number on the back of my card, so I did.

I asked if they would allow me to request CLI even though I just received the card, the lady said no problem! I was THRILLED!

So she asked how much I was requesting, and after reading the 3x the limit posts today, I went ahead and used the formula stated in the posts:

($4500 credit line) x (3) = ($13,500) - ($500 to be on the safe side) = $13,000 total credit line request.

She took down the info and told me that the information has been submitted to our processing department.

Now I found this strange because most of those who request CLI either get an instant approval or instantly get shot down.

Either way, I didn't think much of it, and she told me they would be in touch shortly.

So I was excited to start using my card and as soon as I got off the phone, I drove to my nearby gas station to fill up my car. *DECLINED* hmm... that's strange *DECLINED* hmm... maybe one more time *DECLINED*

So I immediately call the number on the back of my card and ask what the problem is... they told me my account was flagged for FR and blah blah blah tax forms permission blah blah blah.

Lesson of the day... don't ask for 3x CLI on day of activation.

I can't believe this.... shoot me!

Message Edited by aftermath on 05-19-2008 09:02 PM

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Wow, what would possess you to go 3x the CL upon activation? Especially after reading the posts on amex? I don't think there is one string I have read that does not mention FR. I have been a member for 2 years

• Green Rewards: opened account Apr-06 - just upgraded to Gold by pre-approval on Feb-08 
• Blue: opened account 5/06 - requested CLI Apr-08 (start 10K - requested 5K = current 15K) 

I never charge more than 10% per month on the Blue and usually pay in full. Every 5-6 months or so I carry a balance as not to be so predictable.

I have never been fr'd. Why so much so soon? Take it slow; on all your trade lines. They will season and grow with you! I am always pleasantly surprised when I log into an account and the CCC has generously awarded an increase for good behavior. Some almost immediately, others painfully slow or not at all; but I have found it always balances out at the end of the year.

Good luck, I sincerely hope this situation works out for you.

[MidnightVoice]

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ocheosa wrote:

I never charge more than 10% per month on the Blue and usually pay in full. Every 5-6 months or so I carry a balance as not to be so predictable.

I have never been fr'd. Why so much so soon? Take it slow; on all your trade lines. They will season and grow with you! I am always pleasantly surprised when I log into an account and the CCC has generously awarded an increase for good behavior. Some almost immediately, others painfully slow or not at all; but I have found it always balances out at the end of the year.

Good luck, I sincerely hope this situation works out for you.

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I have noticed that there is a tendency for people to repair their credit and then the attitude is "how many new cards can I get with these scores and how high can I drive the CLs?" 

I agree with the "take it slow" - I don't need more credit, although I won't refuse free CLIs, and a high total limit would be nice.  I am not asking for an Amex CLI until the card is at least 13 months old, and maybe not then.  My Juniper hits 12 months tomorrow, and if I don't get a CLI, so what?  I only use about 10% of the CL, I will still get free gas, and it is a rewards card with a high APR so I would never carry a balance on this card (I have a CU one for that  ).  What harm has it done me to NOT get a CLI?

[SonorityGenius]

You DID say "shoot me" right?

<<< shoots >>>>

Ok incoming:

What the heck is wrong with you?! requesting 3x credit limit ONLY after 3-6 months of EXCELLENT PIF every month history! (Internal history = EXCELLENT) and NO external derogs on CR!!

I cant believe you fell for the lovey dovey "sure you can!" of the ACTIVATION Department!

FR is what you DESERVE lmao (sorry sonority is in a mean' shootin mood right now!)

[ocheosa]

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MidnightVoice wrote:

I have noticed that there is a tendency for people to repair their credit and then the attitude is "how many new cards can I get with these scores and how high can I drive the CLs?" 

I agree with the "take it slow" - I don't need more credit, although I won't refuse free CLIs, and a high total limit would be nice.  I am not asking for an Amex CLI until the card is at least 13 months old, and maybe not then.  My Juniper hits 12 months tomorrow, and if I don't get a CLI, so what?  I only use about 10% of the CL, I will still get free gas, and it is a rewards card with a high APR so I would never carry a balance on this card (I have a CU one for that  ).  What harm has it done me to NOT get a CLI?

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A quick rise "to the top" is not worth the hassle (IMHO), especially during/or just after rebuild mode. I would hope while rebuilding you are at the same time going through an internal (mental) training process. You could lose all your hard work in a blink of an eye. I would think it too easy to make a mistake if you have too much too soon.

Message Edited by ocheosa on 05-20-2008 05:55 AM

[FretlessMayhem]

I went through the F/R for opening multiple Amex accounts within a short time frame. As soon as I was approved for Green and after Delta in the same month I was flagged.

It really wasn't a big deal, except for the fact they didn't tell me it was happening.

Good thing I check my online banking multiple times a day.

[smallfry]

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@FretlessMayhem wrote:
I went through the F/R for opening multiple Amex accounts within a short time frame. As soon as I was approved for Green and after Delta in the same month I was flagged.

It really wasn't a big deal, except for the fact they didn't tell me it was happening.

Good thing I check my online banking multiple times a day.

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Welcome to the OCD club.

[Watchmann]

I don't get it.  The trend seems to be to rack up as much CL as possible in some sort of race to drive the FICO score as high as possible (into the 800's).  What does that get you, except bragging rights?  That's a very perverted argument, imo.

Get the credit you need, use it wisely and after an appropriate time request an increase IF you need it.  I've never asked for any increase but AX has ratcheted up my Platinum Optima card over the years to a $33,000 limit.  And three years ago the wifey wanted a Starwoods card so I applied online and was granted a limit of $25,000 immediately.  But that is with a history of 28 years having an Amex card.  My first AX Gold card way back in 1980 was for a $2,000 limit, which was a lot.  I was making $30,000 at that time.  I wouldn't have dreamed of asking for a CL increase upon issuance of the card.  Be happy with what you have.

Amex is the most sophisticated of the card issuers, they use artificial intelligence algorithms in granting credit, and it pays off in them being able to better target cardholders with offers, cards, credit limits and terms, with lower than average default rates.  I don't understand why everyone wants to try to do battle with AX, especially those with weaker than average credit.  Start small and build up your position over time.