topic Re: No AMEX decrease, but no increase either! Making those minimum payments. in Credit Card Applications

No AMEX decrease, but no increase either! Making those minimum payments.

Benzman — Wed, 13 Mar 2019 03:24:01 GMT

Was going to add this to the "Amex Decreasing Unused Limits

thread but locked, so mods feel free to edit/move as you wish.

Many had mentioned about just making minimum payments. In my situation, I have 3 Amex revolvers, 2 with zero balance which I have had for many years and 1 which is on a 0% interest promo since I opened that card a few months ago. Owe less than 1K on it as of today with 10K limit and have a few months left which I will pay off fully before the end of promo. I also like just doing minimums when on promo time, and decided since I have never asked for a CLI to try. Did it online, kept coming back 7-10 days. Got message to call in for answer, but figured would wait for letter, which came today. No big deal either way as I never exceed 10% util on any individual card, <3% TCLU, but wanted to add my results for data point.

20190312_115045.jpg

Re: No AMEX decrease, but no increase either! Making those minimum payments.

NRB525 — Wed, 13 Mar 2019 03:05:44 GMT

Congrats on the $44k of AMEX revolver limits.
The reason listed is in relation to payment on balances, rather than spend rate. Are you using Plan It, or just minimum payments on the account? Plan It puts you on a specific payment pace rather than extending.

The existing limits likely put you near their internal limit they are comfortable with.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Benzman — Wed, 13 Mar 2019 03:18:01 GMT

Just regular minimum payment ($35) plus extra $5 more every so often since it is still on 0% interest introductory offer. I saw in previous replies MF members were wondering if making minimum payments could affect limits, so yes it can.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

frugal47374 — Wed, 13 Mar 2019 03:58:30 GMT

Interesting data point. Thanks for sharing.

I'll be trying to get a CLI on an AMEX 0% card in a month or so. I'm also paying the minimum. From what you show I won't be getting my hopes up.

But it doesn't make sense to me to pay faster than minimum to get a CLI on a 0% card so I might be able charge more than I can now. "Bird in the hand" and all that.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Anonymous — Wed, 13 Mar 2019 09:54:48 GMT

I've been an amex customer for 26 years with 800 score.. recently paid off the balance on my Amex HHonors card (about $4k on a $35k CL). I figured I'd ask for a CLI. Got 7-10 response. Waiting for the letter.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

AverageJoesCredit — Wed, 13 Mar 2019 12:19:31 GMT

You know this cycle will go round and round. Everyone has a different opinion on paying minimum . With Amex, its said they prefer pif over pot but even paying min on a 0% might not make them inclined to increase spending limits if all the customer is willing to pay is the minimum. I understand your view as well. I get those denial reasons and i usually just pay in full as the charge post. I just decided i dont wont to owe Amex anything if ever i get in a bad situation like my previous bk. On my income, i dont have the highest Amex limits but i think im done asking for good. Just dont want to poke too much

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Blackswizz750 — Wed, 13 Mar 2019 17:38:33 GMT

I would fret it. I'd you got a 0%, keep paying until the promotion ends then pif. I would not spend more to please them.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

CreditInspired — Fri, 15 Mar 2019 15:44:57 GMT

This is just my 2cents

Both my AmX cards are 0% for 15 months. I have put very large charges on the ED and have paid 10-15x the minimum pymt due. The reason I do this is basically Murphy’s law. I didn’t want promotion to expire, and like some, scrambling around lookin for a BT to cover the outstanding balance before the outrageous interest rate kicks in.

So one of my charges was $5K. I just divided that by 14 so that not only is it paid off before expiration date but that AmX was getting sizeable monthly payments ($357.14/mo). Since they love transactors, I felt this would look good since at this moment in time I was a revolver.

But, of course, each his own.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Dilbert934 — Sat, 16 Mar 2019 02:15:22 GMT

@CreditInspired wrote:

So one of my charges was $5K. I just divided that by 14 so that not only is it paid off before expiration date but that AmX was getting sizeable monthly payments ($357.14/mo). Since they love transactors, I felt this would look good since at this moment in time I was a revolver.

I've done that with PayPal and some large purchases off eBay under their "no interest if paid in X months" deals.

Re: No AMEX decrease, but no increase either! Making those minimum payments.

zerofire — Wed, 20 Mar 2019 05:25:34 GMT

I can safely say that AmEx hates the idea of carrying a balance on their own cards. They do not discriminate on if that account is a charge card or a revolver. They will not give you a CLI for paying the minimum, ever. They want to see PIF and even better if the numbers are higher but they prefer PIF most of all. If you do a BT as a payment method for their cards they will love you as they are paid off and the amount due is someone else's problem. The only reason they offer anything other than their charge cards is because everyone else beat them to revolvers and they had to offer something similar or fall behind.