Should I give up on AmEx CLI requests?

Anonymous · ‎08-13-2016

I opened an American Express EveryDay card in August of 2014. This is my second year with the card. My initial CL was $2,500. I read all about the 3x CLI tricks and when I was able, I did a CLI request for $7,500 and was approved on the spot. That's where my limit sits to this day. I've tried 3 times since then, all within the appropriate amount of time (i.e. six months in between each request) and I've been denied for each request. My first request was for $22,500 (which would be 3x my current limit). Denied. Second request was for $15,000. Denied. Third request was for $10,000. Denied. Am I ever going to get another CLI from AmEx? Should I stop trying?

My credit score is in the 750 region. I've never missed a payment and I have credit going back 4 years. I make around $42,500 per year. Is $7,500 the highest I'm going to get with AmEx? I can understand why $22,500 wouldn't be approved since that's more than half of my annual income but $10k is only 1/4 of my income and I was still denied.

Any thoughts or insight would be appreciated

Xistaben2 · ‎08-13-2016

Are you sure you are counting the days right? Maybe try doing 7 months or so - overshoot the mark and see what happens.

Also - are you putting a lot of spend through the card? AMEX seems to love heavy heavy usage.

creditguy · ‎08-13-2016

How are you using the card? If your nowhere close to spending your current limit, a CLI may be fruitless if you appear to not need it.

Anonymous · ‎08-13-2016

I'm positive I'm keeping track of the days correctly. I record the date I made the request in my calendar and then try to overshoot the next request date by a week or so just to make sure.

I don't actually put a lot of use on the card - I usually use my CSP card for daily purchases. My AmEx has sat at a zero balance more often than not as of late. No incentive to use it over CSP unfortunately.

When I do use the card I go nowhere near my $7,500 limit, usually only $200-$300 per month when I do use it. I just want the CLI to lower my utilization across the board. Which really isn't even high but I figure if I'm eligble for the CLI, might as well take it.

creditguy · ‎08-13-2016

Well if you have no incentive to use it, they really have no incentive to give a CLI. I think usage may be the problem. If it's not useful anyway I wouldn't waste my time pursuing a CLI.

Anonymous · ‎08-13-2016

Okay so let's say I start using my AmEx card for everything from here on out to fix that issue. What would be a reasonable CLI request when I'm eligible again? Is there a rule of thumb in terms of % income? Because when I made the request for $22,500 I was still using my AmEx for everything as I did not have my CSP card at that point. However that amount is more than half of my income so I understand why I'd be denied for that.

Anonymous · ‎08-13-2016

@creditguy wrote:
Well if you have no incentive to use it, they really have no incentive to give a CLI. I think usage may be the problem. If it's not useful anyway I wouldn't waste my time pursuing a CLI.

+1

What reason are they giving you for the denial?

ETA: If you are eligible for an increase they will make a counter offer.

Anonymous · ‎08-13-2016

@Anonymous wrote:
I opened an American Express EveryDay card in August of 2014. This is my second year with the card. My initial CL was $2,500. I read all about the 3x CLI tricks and when I was able, I did a CLI request for $7,500 and was approved on the spot. That's where my limit sits to this day. I've tried 3 times since then, all within the appropriate amount of time (i.e. six months in between each request) and I've been denied for each request. My first request was for $22,500 (which would be 3x my current limit). Denied. Second request was for $15,000. Denied. Third request was for $10,000. Denied. Am I ever going to get another CLI from AmEx? Should I stop trying?

My credit score is in the 750 region. I've never missed a payment and I have credit going back 4 years. I make around $42,500 per year. Is $7,500 the highest I'm going to get with AmEx? I can understand why $22,500 wouldn't be approved since that's more than half of my annual income but $10k is only 1/4 of my income and I was still denied.

Any thoughts or insight would be appreciated

I think the combination of 750 credit score and a $42,500 income is why they won't give you an increase above $7,500.

It's not a knock against you, that's still a good score, and decent income, but everyone is different, and it's my guess as to why they won't give you an increase.

Try getting your score into the 800's and then app again about a month after.... They might be willing to extend your credit a bit after that.

creditguy · ‎08-13-2016

That's an unknown. If it's heavy use you could justify a decent CLI, but keep in mind your overall available credit from all sources compared to your income, that could potentially limit you in the future if you have a lot. If the CSP is more beneficial though, I'd continue to use that. I'd hate to see you lose out on better benefits in favor of a plan with an unknown outcome.

Anonymous · ‎08-13-2016

The reason for the denial is "Your recent payments are too low reletaive to your requested total line and your debt obligations with American Express." Can someone explain that to me? To me it sounds like I'm carrying a balance or something which I'm not and never have done.

Any tips on getting my score into the 800s?