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Trying to apply: 2 questions on Amex

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ficus
Regular Contributor

Trying to apply: 2 questions on Amex

I'm soon to apply for an Amex card or two. I'm pretty sure I'll get approved. My scores are around mid-700. But I want to be prepared for a possible F/R, because some people said they got hit with an F/R before they even received the card.

When Amex wants asks about HHI on their application, what do they need to know? The before- or after-taxes income? I'm going to be applying based on my own individual salary because that's what they base their reviews on.

Second question. Let's say it's F/R time, what is their policy on how much credit a member should have with them? 50% of your income? What is the exact value? I want to make sure that I don't go over this value when working to get an CLI. I want to get the card, expect a review because it will come sooner or later, pass it and just keep the card safely.
Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: Trying to apply: 2 questions on Amex



ficus wrote:
I'm soon to apply for an Amex card or two. I'm pretty sure I'll get approved. My scores are around mid-700. But I want to be prepared for a possible F/R, because some people said they got hit with an F/R before they even received the card.

When Amex wants asks about HHI on their application, what do they need to know? The before- or after-taxes income? I'm going to be applying based on my own individual salary because that's what they base their reviews on.

Second question. Let's say it's F/R time, what is their policy on how much credit a member should have with them? 50% of your income? What is the exact value? I want to make sure that I don't go over this value when working to get an CLI. I want to get the card, expect a review because it will come sooner or later, pass it and just keep the card safely.

 
As long as the income matches the gross income on your tax form you shouldn't worry.  I don't believe there are any hard and fast rules about how much of your income you can have some people have relatively s,all lines others have more than 100% of their annual income in Amex lines.  The thing to do is to be hinest on the app and not get too greedy with CLI request.  Let Amex do the hard work.

Message 2 of 9
ficus
Regular Contributor

Re: Trying to apply: 2 questions on Amex

As long as the income matches the gross income on your tax form you shouldn't worry. I don't believe there are any hard and fast rules about how much of your income you can have some people have relatively s,all lines others have more than 100% of their annual income in Amex lines. The thing to do is to be hinest on the app and not get too greedy with CLI request. Let Amex do the hard work.







Oh, I see. Meaning when someone gets hit with an F/R, they simply want to verify the information that you provided on the original application. Otherwise, it's very encouraging to hear that some people have managed to obtain credit limits more than 100% of their annual income. Because I just called Amex and asked if they had a set value, and they said no, that they don't disclose how they evaluate "credit worthiness" as they called it. So, just don't lie on the application, don't go crazy on the CLI, and don't ask for CLI too often. I understand it now. Thanks.
Message 3 of 9
Anonymous
Not applicable

Re: Trying to apply: 2 questions on Amex



ficus wrote:
As long as the income matches the gross income on your tax form you shouldn't worry. I don't believe there are any hard and fast rules about how much of your income you can have some people have relatively s,all lines others have more than 100% of their annual income in Amex lines. The thing to do is to be hinest on the app and not get too greedy with CLI request. Let Amex do the hard work.







Oh, I see. Meaning when someone gets hit with an F/R, they simply want to verify the information that you provided on the original application. Otherwise, it's very encouraging to hear that some people have managed to obtain credit limits more than 100% of their annual income. Because I just called Amex and asked if they had a set value, and they said no, that they don't disclose how they evaluate "credit worthiness" as they called it. So, just don't lie on the application, don't go crazy on the CLI, and don't ask for CLI too often. I understand it now. Thanks.

Yes, be 100 perc. honest. And if for like, my example, will be in grad school next semester and anticipate ann HH inc might go down- I lessened the ann HH inc when I applied, so that way if it does go down it won't be such a shock to them. Make sense?
 
Also-not like you aren't going to take care of all your cards, but like others have said- be easy w/ req. for the CLI's and AWAYS pay more tha min. payment on amex. they do not like min payments at all.
Message 4 of 9
ficus
Regular Contributor

Re: Trying to apply: 2 questions on Amex

Yes, be 100 perc. honest. And if for like, my example, will be in grad school next semester and anticipate ann HH inc might go down- I lessened the ann HH inc when I applied, so that way if it does go down it won't be such a shock to them. Make sense?
Also-not like you aren't going to take care of all your cards, but like others have said- be easy w/ req. for the CLI's and AWAYS pay more tha min. payment on amex. they do not like min payments at all.





Thanks. Amex makes it rather easy for people to get those CLIs by clicking on the button, and in most cases the temptation overtakes. In fact, the rep I just spoke with said that he got a memo (he wasn't sure exactly) and he believed that it said a member could apply for a CLI every 30 days or so. That's some temptation.
Message 5 of 9
Anonymous
Not applicable

Re: Trying to apply: 2 questions on Amex



ficus wrote:
Yes, be 100 perc. honest. And if for like, my example, will be in grad school next semester and anticipate ann HH inc might go down- I lessened the ann HH inc when I applied, so that way if it does go down it won't be such a shock to them. Make sense?
Also-not like you aren't going to take care of all your cards, but like others have said- be easy w/ req. for the CLI's and AWAYS pay more tha min. payment on amex. they do not like min payments at all.





Thanks. Amex makes it rather easy for people to get those CLIs by clicking on the button, and in most cases the temptation overtakes. In fact, the rep I just spoke with said that he got a memo (he wasn't sure exactly) and he believed that it said a member could apply for a CLI every 30 days or so. That's some temptation.

 
Too many clicks often results in an F/R.  Maybe its their way of seeing how responsible you are with managing your own credit.  First rule...don't apply if you don't need it, at least thats the way the bnks look at it.  The other school of thought is get it while the getting is good cause no one will give it to you when you actually need it.Smiley Very Happy

Message 6 of 9
smallfry
Senior Contributor

Re: Trying to apply: 2 questions on Amex

Be prepared to use the AMEX a lot and to pay it in full. Personally I don't think they are worth the grief but lots of people swear by them.
Message 7 of 9
ficus
Regular Contributor

Re: Trying to apply: 2 questions on Amex

I can't say that I NEED it, but I tend to be "get it while the getting is good cause no one will give it to you when you actually need it" kind of person when it comes to all things financial. Worse case scenario, I'll give it back. :-)
Message 8 of 9
Anonymous
Not applicable

Re: Trying to apply: 2 questions on Amex



ficus wrote:
I can't say that I NEED it, but I tend to be "get it while the getting is good cause no one will give it to you when you actually need it" kind of person when it comes to all things financial. Worse case scenario, I'll give it back. :-)

 
On the bix credit side I need it cause I virtually have none.  On the personal side, getting while getting is good though I won't be getting again till late 08.

Message 9 of 9
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