The Definitive Amex 3X CLI Guide

[blazer00aaaa]

thanks i thought so 

[MustangSaluki]

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@OhioCPA wrote:

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It isn't clear to me from your post where the $12,000 put you at with regard to Amex exposure, but my understanding is that they will ask for a 4506T when total exposure goes over $34,500.

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Amex HHS = 24,900 CLI back in August.

Amex Plat = Charge card approved in January 2013

Amex PRG = Charge card approved in January 2013.

Amex BCP = 4,000 currently.

The $34,500 overall exposure is a new one for me, but something definitely going to OP as a remark if there have been data points validating it. Thanks!

[MustangSaluki]

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@Anonymous wrote:

I just read this and thought why not. I had initially opened my Costco Amex last March with a starting limit of $15,700 and pretty much forgot about cli'ing it until today. I asked for a cli to $47,100 (3x) and got an increase to $33,900 (a little over 2x). Not bad I would say...

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Very cool. Congrats  Your experience is similar to a few I have read where a 4506T was not needed for a CLI > 25k. This is why the verbiage in OP says Amex may request 4506T for some higher ceiling CLIs. If they are happy with your profile and other factors, then they don't request the transcript in many cases.

[cowboyguy]

Suppose I just got my 61 days CLI from Amex.

The next day, I apply for another Amex. When can I apply for a CLI for that new card, after 61 days or 6 months?

Also, can someone confirm if the 25,000 financial review limit applies for ALL cards combined or one can get 25,000 for each individual card without the financial review?

[cowboyguy]

Sorry I got my answer from the original post. Only one CLI per person in 6 months.

However, my financial review question still remains.

Also, I heard you may upgrade Amex Delta to BCE or any other revolver before the AF is due but the original post states that credit limits can't be transferred before 13 months??

[pdog661]

I month or so ago I posted the a CSR stated the moving limits between cards re-sets the 6 month clock.

Well I have new data to post.

I called today to verify my availability for an increase today.  They CSR stated that moving limits does not re-set the 6 month clock. 

Here is the interesting part.  I increased my HH card in the end of August '12.  The 6 month mark would have been Feb 27th.  I asked the CSR to confirm that the 27th was the 6 month mark, and that the blue would be able to be increased on the 27th.

She stated that the blue was available for CLI today.  I asked if the HH increase would affect the request, and she stated no, the 6 month mark is for each individual product.

So I figured let's test it an see what becomes of it........

She said what limit were you looking, and she entered it, and instantly said congrats you have been approved.  I was giving 2 CLIs within 6 months. 

In addition I asked what income should be include when stating annual income.  She stated that if you file a joint tax return then the amount you file should be stated.  IE if you wife makes 50, and you make 50 filing together your stated income should be 100 on apps. 

[Tikora]

I just attempted two 3x CLIs on different cards,  the first was immediately approved, the second rejected.  I received the following in an email for the second attempt:

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@Anonymous Express wrote:

Thank you for your recent request for a line of credit increase on your American ExpressÒ Card Account.

We regret to inform you that your request has been declined.

Reason(s) for Our Decision

Our bank policy does not permit us to increase the line of credit on your account within six months since increasing the line of credit on one of your existing American Express accounts.

[SnackTrader]

New data points!!!

I hit 61 days this morning and checked my online options to "Manage Credit Limit", but found that there was no option to request an increase there. Remembering that I had seen an issue with this previously in this thread, I searched and found a solution in post #73. So, now having the ability to request the increase I put in a full 3x request for $13,500 and entered in my income. Seconds later I was told that my request was approved - Full 3x CLI for me!!!

The additional data points I offer are as follows:

- My spending overall has yet to total even $1,000 on that card. I'm somewhere near $650 posted, and another $400 pending. 

- I made a full payment on the day immediately after the payment statement cut. Then made another payment the day before the second statement cut to keep utility low and then scheduled another payment this morning to bring the balance back down to zero. 

- The last Amex soft pull I have record of (and I will keep checking this week) was from January 24. I had left balances on each of my cards for reporting purposes that month, and my utilization was approximately 10% on Citi, and 8% on Chase and Capial One. I will provide more detail when I have time tonight. If Amex did soft pull again recently, they would see that the balances reported decreased on all 3 of those cards since I paid them all in full during January and my February charges were much lower because I didn't travel for work or vacation as I did in January.

EDIT:

- First month's spending totaled $215 + $75 AF.  Paid this in full a day later as I mentioned

- Second month's spending totaled $395.  Paid down $340 prior to the due date.

- Spending then occurred to the tune of $402 immediately after the statement cut.  Which leaves me with a balance of approximately $450 today.  I have scheduled a payment for the remaining $55 of the second month's outstanding balance, but it won't process until Monday.

This means my total "purchases" are just over $1,000 - and my fees are $75.  

Another thing I didn't point our here was that I checked my "spending ability" for $10,000 using the online tool and was declined.  This happened yesterday, so that puts evidence into the "it doesn't matter" pile.  However, I don't have a charge card, so if the check spending ONLY matters for people with a charge card then this is a moot point.

OK - I think that's it.  I've done my duty for the forums.  More to come in 6 months

[dodfire]

Ok maybe this seems like a stupid question...but since I am a new AMEX card holder I am going to ask it.  I see everyone talking about this 3x CLI at 61 days....do you have to make this request ON the 61st day or just anytime after 60 days?? Second, is your next CLI at 6 months from that date or 6 months from the beginning date of the card? Thanks,

[NJTurnpike]

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@dodfire wrote:

Ok maybe this seems like a stupid question...but since I am a new AMEX card holder I am going to ask it.  I see everyone talking about this 3x CLI at 61 days....do you have to make this request ON the 61st day or just anytime after 60 days?? Second, is your next CLI at 6 months from that date or 6 months from the beginning date of the card? Thanks,

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You can make the 3x request on the 61st day or later. If you are denied or approved, you can make your next request for a CLI 6 months from the date of your 3x request.