topic Re: AMEX 3x increase in Credit Card Approvals

AMEX 3x increase

pdog661 — Wed, 07 Aug 2013 20:20:03 GMT

Hi board.

I am up for my 6 month increase with AMEX. Wondering if I should poke the bear:

Here's where I am at with AMEX.

15K blue Pre:

7.3K Hilton Honors: (Up for 3x increase)

I have read here that 34.5K is the limit across revolvers before tax records are needed.

My plan was to go 3x's Hilton, and get to 21.9K for the limit. This would open my total exposure with AMEX to 36.9k. Do you think this will trigger tax request?

I have been with AMEX for 8+ years with perfect PIF record for the last 3 years. My income is north of 120K. UTL 5%, credit score 780+.

Re: AMEX 3x increase

Anonymous — Wed, 07 Aug 2013 20:22:59 GMT

It's going to be a YMMV situation as to whether they will request tax docs. Some were able to get past 50k CL without being asked for tax docs, while some were asked for docs even at the 20-25k mark. If you don't feel comfortable releasing those info, you simply will be declined for a CLI.

Re: AMEX 3x increase

pdog661 — Wed, 07 Aug 2013 20:32:47 GMT

I think I may go for it.

I think I would release the documents if they asked. I would be more concerned that they would freeze my accounts without notice as they requested the documents.

Do you think if I then moved 20K to my blue (35K) after the increase this could be a problem?

Re: AMEX 3x increase

kevinjjc — Thu, 08 Aug 2013 01:34:22 GMT

Good luck! Please post back.

Re: AMEX 3x increase

pdog661 — Mon, 26 Aug 2013 01:16:08 GMT

So..... Pulled the trigger - Tax forms requested!

Total limits on revolvers would be roughly 36K if the increase is approved, and 35K on my plat card.

If I do not submit my forms can I ask for another increase below the 35K limit in 90 days?

Here are my income details - Do you think I should just submit the forms?

On app income stated - 121K

2011 income - 101k

2012 - 91K did not realize I had such a low year. I checked my W-2 this AM)

I stated 121K because I have a recently added rental property that will add 25K a year to my income, and this year I am on pace to make 114K as normal income. My 2013 tax returns will show a income of roughly 127K.

My concern is that my income on my W-2 will not match my income of this year. Is this going to cause me any headaches? Also, I file jointly with my wife. The tax records request states I have to include her in the process. These joint fillings will reflect the following incomes: 2011- 164K - 2012 - 151k (2013 - 191K).

Thoughts forum?

Re: AMEX 3x increase

Anonymous — Mon, 26 Aug 2013 01:18:57 GMT

If you are okay with submitting the docs, go ahead. You will be fine. Very minor discrepancies are normal, especially if you are self employed or have side income. Don't worry about that.

Re: AMEX 3x increase

pdog661 — Mon, 26 Aug 2013 01:24:48 GMT

Thanks. I am 95ish% sure I am going to submit. The only thing keeping me back is the 5% chance they get spooked and close my accounts.

Do you think if I submit this time I can then asked for 65K on my next increase without additional forms haha!

Re: AMEX 3x increase

pdog661 — Mon, 26 Aug 2013 01:26:26 GMT

Oh, and another question - I am attempting to garden away my HPs to 0.

If I submit to this additional screening will they HP my credit? This would be a deal break for me at this time.

Re: AMEX 3x increase

ArCpa — Mon, 26 Aug 2013 01:27:37 GMT

Do you have other high limit cc's. I just had a cli to 38k last week and it was just a simple phone call.

Re: AMEX 3x increase

09Lexie — Mon, 26 Aug 2013 01:28:52 GMT

No HP required. Good luck!

Re: AMEX 3x increase

pdog661 — Mon, 26 Aug 2013 01:33:47 GMT

Did they ask for tax documents for the CLI, or did you just call a CSR and it was approved?

This would only move my card to 22K. I have one card in the 30ks, and 2 others in the low to mid 20ks.

Re: AMEX 3x increase

pdog661 — Mon, 26 Aug 2013 01:35:53 GMT

I read the 3x limit thread, awesome info, and did see that no one has gotten a HP from AMEX. I was curious if the documentation request may change the review from SP to HP.

To the forum,

Has anyone evey been successful with submitting documents for a CLI, or is this just a nicety on AMEXs part to deter me from following through? I would hate to give out all the information without getting a tasty new limit from them.

Thanks Forum.

Re: AMEX 3x increase

Anonymous — Mon, 26 Aug 2013 02:09:02 GMT

@pdog661 wrote:
Thanks. I am 95ish% sure I am going to submit. The only thing keeping me back is the 5% chance they get spooked and close my accounts.

Do you think if I submit this time I can then asked for 65K on my next increase without additional forms haha!

The purpose of them asking for these tax docs is to find out how much you did make, and for them to assign a CL appropriate for your income and credit history. It is by no means intended to be a witch hunt to find out whether you lied on your app or anything. Granted, for people who reported i.e. 500k but were instead only making 100k, then that will be a problem. It also depends on how "outdated" that app is. My understanding is that only in very rare circumstances will they close or CLD anyone during a CLI request when tax docs are asked, such as there's really a huge discrepancy or just something shady / suspicious going on.

Generally speaking, you are going to be okay. They might ask you for your tax forms again in the future, especially if the next request is going to be a while from now, or if your financial situation has changed drastically.

@pdog661 wrote:
I read the 3x limit thread, awesome info, and did see that no one has gotten a HP from AMEX. I was curious if the documentation request may change the review from SP to HP.

To the forum,

Has anyone evey been successful with submitting documents for a CLI, or is this just a nicety on AMEXs part to deter me from following through? I would hate to give out all the information without getting a tasty new limit from them.

Thanks Forum.

It is going to be a SP, like Lexie said.

After you submit the documents, they will need to review in order to determine what CLI you will get. Like any CLI request, it is by no means guaranteed, regardless of whether tax docs are requested and/or submitted.

Re: AMEX 3x increase

ArCpa — Mon, 26 Aug 2013 02:44:17 GMT

Yes i just call and the rep transfered me to a Auto increase line. Entered some info and approved. I dont know if this matters, but i have had this BCE for 3 yrs and never asked for a cli. But i also have some high limit business cards with Amex.

Re: AMEX 3x increase

Anonymous — Mon, 26 Aug 2013 03:55:16 GMT

@pdog661 wrote:
I read the 3x limit thread, awesome info, and did see that no one has gotten a HP from AMEX. I was curious if the documentation request may change the review from SP to HP.

To the forum,

Has anyone evey been successful with submitting documents for a CLI, or is this just a nicety on AMEXs part to deter me from following through? I would hate to give out all the information without getting a tasty new limit from them.

Thanks Forum.

Oh, it really works. The first time I did it, they asked for tax forms, I submitted it and got an increase (but not all that I had asked). I just did it again and got the CLI instantly. FWIW, now I wouldn't submit the document, too intrusive for a credit card CLI, but as I did it that first time, I can certainly understand why people will!

Re: AMEX 3x increase

Anonymous — Mon, 26 Aug 2013 07:49:32 GMT

I didn't comply when they asked me for tax documents as I didn't like the idea of them seeing my tax transcripts for a CLI. Your choices are one of the following:

1) Cancel CLI

2) Call CLI department and see if there is an amount you can get without tax transcript

3) Provide permission to get tax transcript

However, I would point on some things:

1) Don't mix up request for tax transcript for CLI with request for tax transcript for FR. FR tax transcript is either provide or have cards cancelled. Also, during FR, cards are suspended. CLI tax transcript request has no such repurcussions.

2) People aren't seeing the potential positive around CLI tax transcript. As there isn't this horrible potential negative as with a FR, providing the tax transcript for CLI might just have your CLI denied or reduced in size. However, my assumption is now that your tax transcript is on file, you will unlikely have a FR for a while into the future as they now know your income for sure. If you "overstated" your income on during a FR tax transcript request, the effects could easily be limits placed on charge cards and reduction of limits on credit cards, etc. as FR team is much tougher.

Re: AMEX 3x increase

Anonymous — Mon, 26 Aug 2013 07:51:28 GMT

BTW, I know of people who triggered FR. They provided tax transcripts. Even though income was more than stated income, they had hard limits placed on their charge cards below what they had occassionally used. I would think a CLI tax transcript would forgo worrying about FR as tax transcript would be on file.

Re: AMEX 3x increase

djc1puno — Mon, 26 Aug 2013 08:11:06 GMT

gl op! and keep us posted

Re: AMEX 3x increase

pdog661 — Tue, 27 Aug 2013 14:58:35 GMT

Docs submitted today......... Let's see how it goes!

Re: AMEX 3x increase

09Lexie — Tue, 27 Aug 2013 18:22:36 GMT

Good luck!