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Hi everyone,
Ive seen a lot of reference to a 61 day CLI request frthe existing cards. Exactly what does this mean?
Thanks
@Aspireto850 wrote:Hi everyone,
Ive seen a lot of reference to a 61 day CLI request frthe existing cards. Exactly what does this mean?
Thanks
Traditionally this is in reference to Amex's Credit Line Increase (CLI) policies on their revolving tradelines, namely their credit cards and not their charge cards.
Specifically, on the 61st day after you have activated your Amex credit card, you may request a CLI for 3x your current tradeline. For example if you have a 1K BCP (one of their revolvers) you could request a 3K credit line and perhaps have that approved, or if you were at 5K, you could request a credit line of 15K.
It's not guarunteed, but historically Amex has been amenable to this if your income, credit history, and expenditures are acceptable by whatever internal metrics they use, and it's viewed as a way to break out of small limits and into the Signature VISA / World Elite MC strata and higher without resorting to secured card tricks.
is it exactly 61 days, or after 61 days?
@Anonymous wrote:is it exactly 61 days, or after 61 days?
At LEAST 61 days!
After your pay your second statement you can request a maximum increase of 3 X your starting credit limit. I went from 4,000.00 to 12,000.00 in two months. Didn't think it would happen, but was instantly approved. Now I will wait until March and shoot for 25,000.00 haha. I kinda doubt they will give me that, but I doubted they would give me a 12,000.00 line before so...
Most people outside of the myfico community have no idea about the 3X CLI
IMO, wait until after you pay your second statement. then you can hit the luv button online.