topic Re: Received letter from Amex in Credit Card Applications

Received letter from Amex

jdxprs1 — Mon, 22 May 2017 02:24:05 GMT

Asked for 3x increase at 61 days. They countered with 2x increase. I declined it.

Received a letter today from them. It stated that the max increase allowed was 2x.

Re: Received letter from Amex

toomchz4u — Mon, 22 May 2017 03:00:59 GMT

Ok maybe it's just me but explain the reasoning for declining a 2x increase???

Re: Received letter from Amex

jdxprs1 — Mon, 22 May 2017 03:02:26 GMT

Expecting a score increase that will drive me over 700. Was hoping that would be enough to get me the 3x.

Re: Received letter from Amex

jdxprs1 — Mon, 22 May 2017 03:03:22 GMT

Plus my limit is only 1k. I'm putting close to 3k on each Amex card per month.

Re: Received letter from Amex

Anonymous — Mon, 22 May 2017 21:28:00 GMT

@jdxprs1 wrote:
Plus my limit is only 1k. I'm putting close to 3k on each Amex card per month.

Uh...what?

You do realize its much harder to get out of the $1k SL hole, right? I would have taken that 2x increase as it will then get you out of that hard SL hole, just my 2 cents.

Re: Received letter from Amex

AverageJoesCredit — Tue, 23 May 2017 13:25:59 GMT

I think ive seen this thread somewhere else but, even though it wasnt what you were hoping for, 2k is better than 1k so even if you are putting 3k through the card , having the 2k would make it just a little more easier. As it stated, they are only comfortable giving 2x at the moment. That can easily change in tge future rspecially with your kind of spend.

Just think on your next increase opportunity you would have been able to go for 6k than 18k. As of now if you yry again youll be on a 3 and 9 k schedule. We each must do whats right for ourself, but i wouldnt like to tempt the Amex express as they seem to be fickle at times. Just my 2x thought

Re: Received letter from Amex

jdxprs1 — Tue, 23 May 2017 15:30:39 GMT

There's always other options. If my 2 Amex cards don't grow at a reasonable rate I can use others.

Re: Received letter from Amex

Anonymous — Tue, 23 May 2017 21:09:04 GMT

@jdxprs1 wrote:
There's always other options. If my 2 Amex cards don't grow at a reasonable rate I can use others.

Good advice given here but do what feels right to you...I woud have taken that 2x and split..lol...good luck!!...

Re: Received letter from Amex

AverageJoesCredit — Tue, 23 May 2017 21:01:26 GMT

True, you can use others and more power to you for that. But to me, there are very few cards that can grow at a more reasonable rate than Amex. For instance i got approved for 1k , thankfully i was approved for a 3x in the first 2 weeks, dont know why, just happened. Now say i get approved for my next 3x after 6 months, thats 9k in 6 more months that could be 27k! ( wont get that as my income isnt that high) But from 1k to a possible 27k in 18 months, thats beyond reasonable. Thats amazing. Just a outside perspective i guess