topic Re: Approved for American Express BCE (10K) - Question about CLI in Credit Card Approvals

Approved for American Express BCE (10K) - Question about CLI

Hooosier — Thu, 30 May 2013 19:45:09 GMT

Thanks to the help I've received from reading so many threads on these forums, I applied for the American Express BCE card yesterday and was approved with a 10K CL. Now, I've read about being able to get a 3x CLI after 61 days, so in this case it would increase my CL to a huge 30K. I currently have a USAA World MC with 15K CL, and Chase Freedom with 10K CL so I do show some history with pretty large CL cards. I plan on using the new AmEx quite a bit over the next couple months to show regular use - do you think I would qualify for the 3x CLI up to 30K assuming my score stays are 730?

Re: Approved for American Express BCE (10K) - Question about CLI

creditjail — Thu, 30 May 2013 19:54:14 GMT

I just got my 3x CLI today...not $30,000 but it was was nice. I think for CLI that exceeds $25,000 they ask for a 4506T.

Re: Approved for American Express BCE (10K) - Question about CLI

Anonymous — Thu, 30 May 2013 20:11:36 GMT

Congrats! BCE is my next app. Seems like a good card. How do you like it?

Re: Approved for American Express BCE (10K) - Question about CLI

Express — Thu, 30 May 2013 20:38:36 GMT

Congrats!

I would keep it under or at $25,000 to avoid a FR.

Re: Approved for American Express BCE (10K) - Question about CLI

Hooosier — Thu, 30 May 2013 21:12:57 GMT

@Anonymous wrote:
Congrats! BCE is my next app. Seems like a good card. How do you like it?

It hasn't even arrived in the mail yet, so it's tough to say but hey, they approved me for 10K so that's a good start in my book!

Re: Approved for American Express BCE (10K) - Question about CLI

Hooosier — Thu, 30 May 2013 21:13:37 GMT

@Express wrote:
Congrats!

I would keep it under or at $25,000 to avoid a FR.

Thanks! I had forgotten about the 25K FR - I definitely don't want to go down that road.

Re: Approved for American Express BCE (10K) - Question about CLI

myjourney — Thu, 30 May 2013 21:53:00 GMT

Congrats

Re: Approved for American Express BCE (10K) - Question about CLI

vn25 — Fri, 31 May 2013 00:08:49 GMT

Congrats on the approval!
I'm in your shoes except with the BCP and 9k approval...I don't know what to ask for on day 61..

If I ask for the full 25k and they wont give it, does amex counteroffer or just flat out say no?

Re: Approved for American Express BCE (10K) - Question about CLI

JonStur — Fri, 31 May 2013 01:20:02 GMT

@vn25 wrote:
Congrats on the approval!
I'm in your shoes except with the BCP and 9k approval...I don't know what to ask for on day 61..

If I ask for the full 25k and they wont give it, does amex counteroffer or just flat out say no?

You should get a counter...

Re: Approved for American Express BCE (10K) - Question about CLI

jamesdwi — Fri, 31 May 2013 11:43:23 GMT

Patience would be the key here, I personally plan on growing to the high limits slowly, I have a 7500 CL limit currently next step will probably be to 12.5k or 15k, then after 6 more months up to 20k, and then 24k, and then the next step will be 30k my card will be 4 years old by then and the last step is only 25% so a lot less likely of requiring financial documents or other hoops to jump through.There are other posts of people with a longer history of AMEX getting limits over 25k with no documents required.

AMEX is all about slow and steady force their hand and they may request proof that you are good for it. With slower increases your other cards may grow with your AMEX, if the jump is too big your other creditors may decide the card is an outlier and shouldn't influence your future CLI's. This is just my theory, but with the number of NFCU card holders out there with 10-30k CL's yet most of there other cards stuck at 2-3k level provide good evidence that prime lenders may not consider cards with very high limits compared to the rest of the report.

Re: Approved for American Express BCE (10K) - Question about CLI

Hooosier — Fri, 31 May 2013 13:55:36 GMT

@jamesdwi wrote:
Patience would be the key here, I personally plan on growing to the high limits slowly, I have a 7500 CL limit currently next step will probably be to 12.5k or 15k, then after 6 more months up to 20k, and then 24k, and then the next step will be 30k my card will be 4 years old by then and the last step is only 25% so a lot less likely of requiring financial documents or other hoops to jump through.There are other posts of people with a longer history of AMEX getting limits over 25k with no documents required.

AMEX is all about slow and steady force their hand and they may request proof that you are good for it. With slower increases your other cards may grow with your AMEX, if the jump is too big your other creditors may decide the card is an outlier and shouldn't influence your future CLI's. This is just my theory, but with the number of NFCU card holders out there with 10-30k CL's yet most of there other cards stuck at 2-3k level provide good evidence that prime lenders may not consider cards with very high limits compared to the rest of the report.

Thanks for the advice! I think what I will do is ask for 2x CLI in 61 days to up the CL to 20K. It's a little more conservative which should improve my chances and keeping it under 25K will hopefully avoid a FR.

Re: Approved for American Express BCE (10K) - Question about CLI

DrJim — Fri, 31 May 2013 14:01:06 GMT

The automated system will only allow you to apply for up to $25K. Anything over that requires your tax records. I got that straight from a CS rep a few months back. It is not actually the dreaded FR, it's just a safeguard they have for handing out the larger limits.

Now, this is only for requested CLI's. Auto CLI's may go over $25K without the tax info.

Re: Approved for American Express BCE (10K) - Question about CLI

Hooosier — Fri, 31 May 2013 14:53:11 GMT

@DrJim wrote:
The automated system will only allow you to apply for up to $25K. Anything over that requires your tax records. I got that straight from a CS rep a few months back. It is not actually the dreaded FR, it's just a safeguard they have for handing out the larger limits.

Now, this is only for requested CLI's. Auto CLI's may go over $25K without the tax info.

Okay, that's good to know - thank you!