The Definitive Amex 3X CLI Guide

[Financiers]

I got denied for the 3x.  Not a big deal, but had some questions as to their reasoning.

Initial CL- 2700

Asked CL- 8100

Credit Score (from AMEX letter)- 742

Income- 24k (still in last year of college)

received 7-10 wait response and the letter said

- Overall debt with other creditors (PIF every month, except my student loans aren't being paid until after I graduate)

- Length of time with AMEX too short. (odd because this is the 3x, so I thought being a new customer was a given in these cases)

-Too many inquiries in the last 12 months (also find this odd because the last time I ran a report I only had 3 hard inquries I believe, two being from AMEX)

I realize that I am incredibly lucky to even have an AMEX while in college and this isn't terrible, I'll just try again when the time comes.  I am a little dissapointed however and was wondering what all of this meant so that I can change if necessary.

[jgodfrey82]

MyFico/Other Handle: jgodfrey82
Initial CL: 6000
61 day/181 day CLI: (please indicate whether 61day/181day also) $18000 approved - 14 month old account, requested 3x at 11 months, denied, approved 90 days later
Amex Utilization @ CLI: ~22%
Overall Utilization @ Last EX Soft Pull: ~20%
Number of new credit lines opened since opening Amex account or last Amex CLI: 4
Total $$ value of all transactions since Amex account opening or last Amex CLI: $50,000 (1 year, includes costco te revolver and zync charge card, ~50/50)

I also don't ever mess around with paying before statement dates, I let full amounts post, and pay whatever I can on the revolver, and pif on the charge.

I was going to let another soft show on my experian, but UCF just won a bowl game and I was feeling froggy, so I jumped!

[Rackham94]

MyFico/Other Handle: rackham12
Initial CL: 1000
61 day/181 day CLI: (please indicate whether 61day/181day also) 61 day cli request to 3000 )7-10 day message -_- probably high util on Delta Skymiles
Amex Utilization @ CLI: ~45%
Overall Utilization @ Last EX Soft Pull: ~10%
Number of new credit lines opened since opening Amex account or last Amex CLI: 1
Total $$ value of all transactions since Amex account opening or last Amex CLI: $3600 (PRG mostly)

[Rackham94]

So is the 7-10 Day message ABSOLUTE denial or FR request?

[09Lexie]

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@Rackham94 wrote:

So is the 7-10 Day message ABSOLUTE denial or FR request?

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It means it needs manual review. Good luck!

[crunchyfrog]

Hi!  I'm excited to try for the 3x CLI soon and have a few questions.  Can someone help?  

I have a Costco TrueEarnings card with a credit limit of $5,000.  I've had the account since 2007 and have never asked for a CLI.  I always pay in full and have never had a late payment... until last month.  The holidays caught me off guard  Anyway, called and had the $25 removed.  This month, I made the payment on time, as usual.

Should I go for the 3x CLI with this tiny blemish?  Or should I wait?  How long?  Since this is my primary card, my utilization is between 11%-13% on average.

Thanks!

[CreditUnionFan]

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@crunchyfrog wrote:

Hi!  I'm excited to try for the 3x CLI soon and have a few questions.  Can someone help?  

I have a Costco TrueEarnings card with a credit limit of $5,000.  I've had the account since 2007 and have never asked for a CLI.  I always pay in full and have never had a late payment... until last month.  The holidays caught me off guard  Anyway, called and had the $25 removed.  This month, I made the payment on time, as usual.

Should I go for the 3x CLI with this tiny blemish?  Or should I wait?  How long?  Since this is my primary card, my utilization is between 11%-13% on average.

Thanks!

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Sure, I'd got for it...  The worst they can say is no.

[Transmogrifying_Bee]

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@CreditUnionFan wrote:

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@crunchyfrog wrote:

Hi!  I'm excited to try for the 3x CLI soon and have a few questions.  Can someone help?  

I have a Costco TrueEarnings card with a credit limit of $5,000.  I've had the account since 2007 and have never asked for a CLI.  I always pay in full and have never had a late payment... until last month.  The holidays caught me off guard  Anyway, called and had the $25 removed.  This month, I made the payment on time, as usual.

Should I go for the 3x CLI with this tiny blemish?  Or should I wait?  How long?  Since this is my primary card, my utilization is between 11%-13% on average.

Thanks!

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Sure, I'd got for it...  The worst they can say is no.

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+1   You're going on your 7th year with Amex, with only this one small (corrected) blemish?  I say, gor for it  . . . !

[joestay]

Just need to verify.  AMEX CLI is still soft pull right?

[09Lexie]

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@joestay wrote:

Just need to verify.  AMEX CLI is still soft pull right?

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Yes