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Valued Contributor
Posts: 1,841
Registered: ‎09-18-2012
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Reported balance when 3x CLI AmEx?

Curious to know what people's reported balance was when they requested their first CLI with Amex.

 

I'm sitting at $750 on a $9,500 CL (~8%). I'm trying to decide if I

 

a) want to pay it all before statement closes

b) pay 1/2 before statement closes

c) PIF after statement closes

 

Obviously I'd like to set myself up for best possible outcome.

 

Welcome feedback.

Valued Contributor
Posts: 8,495
Registered: ‎10-21-2012
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Re: Reported balance when 3x CLI AmEx?

For your reference, the link below from the sticky outlines some guidance and possible scenarios:

 

http://ficoforums.myfico.com/t5/Credit-Cards/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

 

Regular Contributor
Posts: 214
Registered: ‎10-12-2012
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Re: Reported balance when 3x CLI AmEx?

With Amex I always let it post then pay. Have always done that with my PRG too.  So I did that as well when I got my 61day cli.  Paid the day statement cut, was at $975, next day tried for the cli online and instant appoval. 

Amex BCP $17,400, Amex Platinum NPSL, Amex Hilton $12,000, Virgin Atlantic World Elite MC $8100, Chase Sapphire Preferred $5000, Fidelity Amex $5000, Barclay Arrival World Elite MC $6000, Citi Hilton Visa Sig., $8800, Citi TY Preferred $7900, Citi Diamond Preferred $7400, Citi Dividend $7500, US Bank Flexperks Visa Sig, $7500 Discover IT $7500, Chase Freedom $3500, Cap One Cash $2500,-- EQ FICO 768, EX FICO 755
Contributor
Posts: 175
Registered: ‎06-28-2013
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Re: Reported balance when 3x CLI AmEx?

I'm also curious about this, I'll be due for my first CLI at the end of August. I have been making a payment mid-month then paying off the statment balance as soon as it posts. I have been letting it report a small balance since the rest of my cards report a $0 balance except for one.


Starting Score: 620
Current Score: EQ: 723 TU: 714 EX: 759 (Amex 6/28)
Goal Score: 750
Valued Contributor
Posts: 1,841
Registered: ‎09-18-2012
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Re: Reported balance when 3x CLI AmEx?


FinStar wrote:

For your reference, the link below from the sticky outlines some guidance and possible scenarios:

 

http://ficoforums.myfico.com/t5/Credit-Cards/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

 


Thanks for the link. I've read through that but not sure that it mentioned the scenarios.

 

Valued Contributor
Posts: 1,841
Registered: ‎09-18-2012
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Re: Reported balance when 3x CLI AmEx?


icloud2525 wrote:

With Amex I always let it post then pay. Have always done that with my PRG too.  So I did that as well when I got my 61day cli.  Paid the day statement cut, was at $975, next day tried for the cli online and instant appoval. 


That's what I think I'm going to do. I'm hoping to go to 17K from 9.5K. That will put my over CLs at 30K across the board.

Regular Contributor
Posts: 188
Registered: ‎07-23-2008
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Re: Reported balance when 3x CLI AmEx?

I had a small balance at about 7% when I requested my CLI.

FICO scores:EQ- 723 (6/13), TU- 722 (6/13), EX- ?
My Wallet- AMEX BCE-17.5K, Chase Freedom-6k, Cap1- 5K, BMO Harris-5K, Wells Fargo-2K,
Store Cards-Lowes- 8K, Ashley Furniture-6K, American Furniture-2.5K,


Valued Contributor
Posts: 1,841
Registered: ‎09-18-2012
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Re: Reported balance when 3x CLI AmEx?


creditjail wrote:

I had a small balance at about 7% when I requested my CLI.


Thanks for this. If you don't mind me asking, what was your CL and what CLI did you get?

Valued Member
Posts: 32
Registered: ‎04-29-2013
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Re: Reported balance when 3x CLI AmEx?

[ Edited ]

I had about 600 dollars on my 4K card and asked for 12K but only got 9.6k. Could be for a number of reasons.....but im not dissapointed nonetheless. All my other cards were reporting zero at the time.

| NFCU Platinum Visa 14K | NFCU NavCheck 13.5K | AMEX BCE 9.6K |
| USAA Rewards Visa 7K | USAA Cash Rewards Visa 7K | Discover it 1.5K|

NOV 2013 TU -739 EQ - 709 EX - 739
Regular Contributor
Posts: 206
Registered: ‎07-07-2008
0

Re: Reported balance when 3x CLI AmEx?

Utilization threshold and balance carrying is a Work-In-Progress part of the guide and possibly the last remaining item to address in the sticky, understandably the most difficult one. As you can can see there is a sample point I have mentioned where the official denial reason given by Amex was balances carried. However that example was for balance carried for a few statements and is an extreme, however I had to add it because I think someone commented on a random thread that it was a myth that Amex doesn't like balances.

 

Here are two sample datapoints for you to consider (both extremes again) and more pertinent to your case since they discuss utilization at the time of CLI.

 

AMEX BCP CLI Approved!!     -> Successfuly only after 0% utilization after past failures.

 

AMEX Loves me!!!!! Hope I don't jinx it :-)   -> 25% Amex utilization + High overall utilization, still successful in full 3X CLI

 

I watch threads like these with great intent to study the patterns. One thing that I always find missing in these type of threads is Income.  If the income is high compared to overall credit, then it might be possible to get away with high(er) utilization due to lower internal risk score. Until we get a lot of datapoints in the forum, it is best to be conservative and expect a more favorable CLI decision by having lower utilization and the guide's overall tone is geared as such. 

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