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Reported balance when 3x CLI AmEx?

Valued Contributor

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.

FICO 08-EX: 746 TU: 752 EQ: 750 AAoA: 4yrs TLs: 40 Neg: 0

Credit Limits: $300,000+
Miles: 400,000+
MRPs: 200,000+
Cash Back: $2,000+
Message 1 of 13
12 REPLIES
Senior Contributor

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

 

Message 2 of 13
Frequent Contributor

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. 

Chase Sapphire Reserve $32.5K, Amex BCP $20K, Amex PRG NPSL, Amex Hilton $12,000, Discover It $16,000, Citi Hilton $16,200, Citi TYP $14,400, US Bank Cash+ Visa Sig $12,000, Virgin Atlantic World Elite MC $13,100, Merrill+ Visa Sig $10,000, Fidelity Visa Sig $10,000, Barclay Cash Forward $16,500, Wells Fargo Rewards $12,500, Local CU $7000, Barclay Apple Rewards $5500, Chase Freedom $5000, Cap One Cash $2500,-- EQ FICO 768, EX FICO 777, TU FICO 781
Message 3 of 13
Contributor

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.

Message 4 of 13
Valued Contributor

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.

 

FICO 08-EX: 746 TU: 752 EQ: 750 AAoA: 4yrs TLs: 40 Neg: 0

Credit Limits: $300,000+
Miles: 400,000+
MRPs: 200,000+
Cash Back: $2,000+
Message 5 of 13
Valued Contributor

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.

FICO 08-EX: 746 TU: 752 EQ: 750 AAoA: 4yrs TLs: 40 Neg: 0

Credit Limits: $300,000+
Miles: 400,000+
MRPs: 200,000+
Cash Back: $2,000+
Message 6 of 13
Regular Contributor

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,


Message 7 of 13
Valued Contributor

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?

FICO 08-EX: 746 TU: 752 EQ: 750 AAoA: 4yrs TLs: 40 Neg: 0

Credit Limits: $300,000+
Miles: 400,000+
MRPs: 200,000+
Cash Back: $2,000+
Message 8 of 13
Valued Member

Re: Reported balance when 3x CLI AmEx?

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
Message 9 of 13
Regular Contributor

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. 

Message 10 of 13