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Contributor
onthemove
Posts: 77
Registered: ‎04-18-2007

why a low limited from Amex?

Anyone ran into this issue before and what was your out come?

 

I have a CR of 779 with no badies.

 

$16,000 in student loans

BofA CC of $25,000 for 6 years ($5,000 on the card)

Amex Glod with rewards since 1990 ($2,200 on the card)

BCE with $22,000 since three weeks ago ($4,000 on the card)

 

Income: $104k

 

Last week applied for AMEX SPG card and they gave me a limit of $10,000...why?

 

Can I do a reconsideration with Amex? If so, is there a good number to call? AmEx Executive Office:  800-297-6197 or AmEx:  800-567-1083 (App Status - Use with caution if attempting a denied app recon; have been advised by one member that they can only resubmit app with another hard pull)

 

 

Mega Contributor
Creditaddict
Posts: 18,507
Registered: ‎10-23-2007

Re: why a low limited from Amex?


onthemove wrote:

Anyone ran into this issue before and what was your out come?

 

I have a CR of 779 with no badies.

 

$16,000 in student loans

BofA CC of $25,000 for 6 years ($5,000 on the card)

Amex Glod with rewards since 1990 ($2,200 on the card)

BCE with $22,000 since three weeks ago ($4,000 on the card)

 

Income: $104k

 

Last week applied for AMEX SPG card and they gave me a limit of $10,000...why?

 

Can I do a reconsideration with Amex? If so, is there a good number to call? AmEx Executive Office:  800-297-6197 or AmEx:  800-567-1083 (App Status - Use with caution if attempting a denied app recon; have been advised by one member that they can only resubmit app with another hard pull)

 

 


to be fair if this is your whole credit profile you only have 1 other credit card besides amex, and you just got $22k less than a month ago so $10k plus who knows your internal Gold you probably actually have exposure with Amex at 4-5x your BofA easily!  Give it 61 days and request that it be raised to $30k or really push it and ask that your blue be raised to $66k.

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Fidelity Amex $25k (AU)
Lowest Limit: Buckle $250
Over 30 Cards in between :smileytongue:
Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: why a low limited from Amex?

It might have to do with the dollar amount of debt you owe on the cards (10% of your salary), on top of other loans that you already have.

It also might have to do with the CL both Amex and other lenders have already given you in total. You might have reached the max threshold they are willing to expose to you for now.

Best way is to just wait 61 days for CLI. If you try to recon it now they probably will ask for tax docs.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Frequent Contributor
darkfrosty
Posts: 264
Registered: ‎04-03-2013

Re: why a low limited from Amex?

just wait 61 days then ask for a 3x cli. I would just be careful with asking over 30k due to a possible FR.

Contributor
onthemove
Posts: 77
Registered: ‎04-18-2007

Re: why a low limited from Amex?

when you do hit the 61 day mark, does it ask you what you want or just apply for an increase?

Super Contributor
enharu
Posts: 6,889
Registered: ‎02-27-2013

Re: why a low limited from Amex?

You just apply for an increase. They will either approve you, or come up with a counter-offer, or decline you entirely. Sometimes they will ask for tax docs as well.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Valued Contributor
takeshi74
Posts: 2,213
Registered: ‎06-05-2013

Re: why a low limited from Amex?

Don't overlook the 3x CLI thread.

Senior Contributor
longtimelurker
Posts: 5,227
Registered: ‎04-22-2013

Re: why a low limited from Amex?

And if $25K is your highest card, $10K isn't THAT low.  Barclays gave me a CL about 1/7th of my highest card.   If Amex is concerned about exposure (either with them, or overall) you will find out when you try a 3x CLI.

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Contributor
onthemove
Posts: 77
Registered: ‎04-18-2007

Re: why a low limited from Amex?

Thanks for the responses. I am quite aware of the "Amex 3x CIL", but I was trying to figure out with a high credit score and other good trade lines, why I ended up with only a $10,000 CL. I think I got part of my answer when I got home today. There was letter from Amex telling me that I have the "Pay-Over-Time feature and the out standing balance may not exceed $35,000, unless we notify you of a different amount", on my Amex Reward Gold Card plus, $10,000 a month for approval per month. I guess Amex internal process see things different from what we can see from the outside. Again thanks!

Senior Contributor
score_building
Posts: 3,497
Registered: ‎01-10-2008

Re: why a low limited from Amex?

If OP lists all accounts 100% are carrying balances AND 2 of those are Amex cards, to put it mildly-they are not a fan of that...to get another 10k card from them while carrying debt across accounts totaling >25k actually seems generous starting CL.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)

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