08-17-2012 08:51 AM
Today I decided to request for my 61 Days CLI on my Amex TE. See I was one of the few peeps that fell thru the cracks and was able to get a card from Amex with 5k limit even though I never paid off on my CO and should have been on their blacklist.
So I have been paying my balance in Full and decided to request for 3x CLI today. The system automatically declined me and message shows reason was because
"Due to past delinquencies"
I hope I didn't wake up the system and now my Amex will be cancelled. Has anyone else ever experience this? My credit score should be 725 all around.
08-17-2012 08:55 AM - edited 08-17-2012 08:57 AM
You never know with AMEX. I got cards with my BK still reporting, then got a CLI on one, and was denied last time for a CLI due to "a derogatory public record." That was 5/12, and I have had no FR yet, so I wouldn't worry.
I kind of think that they let people get approved with certain things on your reports, but then these same issues (CO's etc) are red flags that may keep you from getting CLI's. They also said I had a high balance on other accounts (one card on report with 30% Util, due to BT), but I still had >7% overall utilization. Score at the time of the denial was 756. My BK has since fallen off my reports.
Does anyone know when you can ask for a CLI again after a denial?
08-17-2012 09:14 AM - edited 08-17-2012 09:14 AM
I've never heard of FRs being triggered by a CLI request. Not that it couldn't happen.....but I wouldn't really be concered about it.
08-17-2012 09:29 AM
I was automatically backdated. At that time, didn't want to trigger anything that might cause them to realize they approved my account in error.
Oh well - I guess I don't need the CLI, just nice to have one since I've been reading on this board that everyone gets it.
I hope nothing happens and I get to continue to use my card.
08-17-2012 09:39 AM - edited 08-17-2012 09:40 AM
Sounds like they linked in old account during setup process and maybe upon approval. No surprise you didn't get cli. In the cases where people had past unpaid obligations, I saw that they in creased their risk to Amex by either getting too much credit or apping for too many cards or both. In all cases, they were asked to pay back old debt or cards got closed. My recommendation is do not increase your risk with Amex until you build morpositive history with Amex. So don't ask for cli or app for more Amex until you have 1 year of payment history and don't hold running balances of more than 30%
08-17-2012 09:59 AM
Are there any other delinquincies hanging around on your credit report? Normally when a creditor denies an app/CLI specifically because you defaulted on them, the reasoning would be more along the lines of "Previous unsatisfactory relationship." In the case of AMEX specifically, I believe the denial would specifically mention the previous charge-off with them... Only AMEX could tell you for sure. Whether the risk of asking is worth it is up to you, but I doubt the CLI denial itself will trigger any AA.
08-17-2012 11:09 AM
I don't need the CLI so I'm not gonna call them and question it. I have no negative accounts on my CR unless they count my inquiries. I think its just linked to my old charged off account. I don't want to take my chances anymore.
IF they don't close my account and maybe after 1 year of better history, I'll consider it.
Has anyone ever received automatic CLI?
08-17-2012 11:16 AM
I think they pretty much just give CLI to those who request, from what I've read. I wouldn't worry about the FR if they backdated your card automatically then they obviously know your past with them. They probably just aren't willing to take the chance again "right now" for giving you a high CL. I'm sure with time they will allow you.
08-17-2012 11:22 AM
Good advice on waiting for some positive history before making additional requests. After a year of payment and transaction history, your CLI requests will have a much higher chance of success.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.