topic Re: AMEX CLI Request - 7 To 10 Day Message in Credit Card Applications

AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 17:13:27 GMT

Applied for a CLI on Amex (about two weeks past 61 days). Got the 7 - 10 day message. I am assuming it's a denial. Current limit $2000, requested $4000 increase. ) 0 balance on Amex. Scores 730 to 740 across all three bureaus. No collections. Several new accounts (with higher limits). 6 inquiries on EX and EQ. 5 on TU.

Re: AMEX CLI Request - 7 To 10 Day Message

FinStar — Fri, 24 May 2019 17:15:39 GMT

Unfortunately, that message typically yields a denial OP.

Re: AMEX CLI Request - 7 To 10 Day Message

Jnbmom — Fri, 24 May 2019 17:16:04 GMT

Unfortunately usually that means a denial, their CLIs are normally instant

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 17:28:32 GMT

@FinStar wrote:
Unfortunately, that message typically yields a denial OP.

My thoughts exactly. I will continue to use it sparingly and put most of my spend on one of my cards with a higher limit.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 17:30:57 GMT

@Jnbmom wrote:
Unfortunately usually that means a denial, their CLIs are normally instant

I figured as much. I read some posts on the board that mention Amex cards with lower limits are harder to get increases on. Fortunately I have other cards with higher limits that I can use if necessary. Kind of thought they would counter but they didn't.

Re: AMEX CLI Request - 7 To 10 Day Message

FinStar — Fri, 24 May 2019 17:36:58 GMT

It would be great to learn what reasons they provide on the letter OP. This way, if there's an opportunity to improve in certain areas, there's that potential to grow the card.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 17:44:56 GMT

Credit limit increase approvals from Amex after just 61 days are not as common as one might assume from reading these forums.

Re: AMEX CLI Request - 7 To 10 Day Message

Jnbmom — Fri, 24 May 2019 18:14:58 GMT

I agree with cards ranging from 500-2000 usually don't have frequent success at the 61 day mark

Re: AMEX CLI Request - 7 To 10 Day Message

Penjamin_Fedington — Fri, 24 May 2019 18:54:25 GMT

Don't lose hope treeshaker. I was denied a CLI from amex, requested my 2000 limit to 6000 after 61 days. I asked again 91 days after that denial and was instantly approved.

Re: AMEX CLI Request - 7 To 10 Day Message

pinkandgrey — Fri, 24 May 2019 19:04:52 GMT

As others have said, Amex approvals are usually instant so this may be a denial. Don’t worry—you’ll get one eventually!

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 20:00:06 GMT

@FinStar wrote:
It would be great to learn what reasons they provide on the letter OP. This way, if there's an opportunity to improve in certain areas, there's that potential to grow the card.

I am eagerly awaiting my letter. Seems that most companies want to do everything online but they don't want to send out the denials online. I think Synchrony sends some of those online and regular mail. It would sure take a lot of stress out of the process if they would use online communication for denials. Probably some reg that requires them to send out regular mail I suppose.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 21:17:24 GMT

@Jnbmom wrote:
I agree with cards ranging from 500-2000 usually don't have frequent success at the 61 day mark

Those starting limits probably indicate they took a chance on you so they want more history with them before they extend any addtional credit. I can understand their point.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 21:19:23 GMT

@Penjamin_Fedington wrote:
Don't lose hope treeshaker. I was denied a CLI from amex, requested my 2000 limit to 6000 after 61 days. I asked again 91 days after that denial and was instantly approved.

I see now that the CLI's arent automatic so I will just wait a while. I don't really need it just wanted to get a CLI to feel good I guess.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Fri, 24 May 2019 21:20:35 GMT

@pinkandgrey wrote:
As others have said, Amex approvals are usually instant so this may be a denial. Don’t worry—you’ll get one eventually!

I can wait. Thanks for the kind words.

Re: AMEX CLI Request - 7 To 10 Day Message

CreditInspired — Fri, 24 May 2019 23:19:26 GMT

@Anonymous wrote:
Applied for a CLI on Amex (about two weeks past 61 days). Got the 7 - 10 day message. I am assuming it's a denial. Current limit $2000, requested $4000 increase. ) 0 balance on Amex. Scores 730 to 740 across all three bureaus. No collections. Several new accounts (with higher limits). 6 inquiries on EX and EQ. 5 on TU.

Hi OP and welcome to myFICO

Echoing others that it’s probably a denial and most likely due to several new accounts. Was this in the last 6 months? If yes, I would just wait another 6 months and then ask for a CLI on AmX again.

GL2U

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Sat, 25 May 2019 02:45:23 GMT

@CreditInspired wrote:
@Anonymous wrote:
Applied for a CLI on Amex (about two weeks past 61 days). Got the 7 - 10 day message. I am assuming it's a denial. Current limit $2000, requested $4000 increase. ) 0 balance on Amex. Scores 730 to 740 across all three bureaus. No collections. Several new accounts (with higher limits). 6 inquiries on EX and EQ. 5 on TU.
Hi OP and welcome to myFICO

Echoing others that it’s probably a denial and most likely due to several new accounts. Was this in the last 6 months? If yes, I would just wait another 6 months and then ask for a CLI on AmX again.

GL2U

It very well may be new accounts. I started rebuilding in October of 2018. In the past four months of 2019 I have gotten four or five new accounts.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Sat, 25 May 2019 06:09:02 GMT

@Anonymous wrote:
I will continue to use it sparingly and put most of my spend on one of my cards with a higher limit.

I would use it more, it may tell them that you do need a higher CL. Remember, you can almost max out the card and simply PIF before it cuts.

Several times per month if need be. By reducing usage it may send the wrong message, that you don't really need more credit.

@Anonymous wrote:
Applied for a CLI on Amex (about two weeks past 61 days). Got the 7 - 10 day message. I am assuming it's a denial. Current limit $2000, requested $4000 increase. ) 0 balance on Amex. Scores 730 to 740 across all three bureaus. No collections. Several new accounts (with higher limits). 6 inquiries on EX and EQ. 5 on TU.

Their reason may also be that you added too many new accounts recently, as in credit seeking behavior. Appling for credit and CLIs all at the same time can raise flags.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Sat, 25 May 2019 09:52:37 GMT

So this is the thing it's definitely a denial but on an AMEX you should actually use it more. Put all your spending on it and continue to pay it off it full. AMEX does a ton of back end reviewing and if they see this practice along with your strong credit score you will get increases without ever asking for them.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Sat, 25 May 2019 13:05:57 GMT

@Anonymous wrote:
@Anonymous wrote:
I will continue to use it sparingly and put most of my spend on one of my cards with a higher limit.
I would use it more, it may tell them that you do need a higher CL. Remember, you can almost max out the card and simply PIF before it cuts.
Several times per month if need be. By reducing usage it may send the wrong message, that you don't really need more credit.

@Anonymous wrote:
Applied for a CLI on Amex (about two weeks past 61 days). Got the 7 - 10 day message. I am assuming it's a denial. Current limit $2000, requested $4000 increase. ) 0 balance on Amex. Scores 730 to 740 across all three bureaus. No collections. Several new accounts (with higher limits). 6 inquiries on EX and EQ. 5 on TU.
Their reason may also be that you added too many new accounts recently, as in credit seeking behavior. Appling for credit and CLIs all at the same time can raise flags.

This is great advice. I was going to put it on the back burner but I will use it and pay it immediately. And you may be right about raising flags. I thought I'd better get while the getting was good (wasn't too smart on my part). I'm pretty much set right now so I don't need any additional cards. I can just wait it out.

Re: AMEX CLI Request - 7 To 10 Day Message

Anonymous — Sat, 25 May 2019 13:09:54 GMT

@Anonymous wrote:
So this is the thing it's definitely a denial but on an AMEX you should actually use it more. Put all your spending on it and continue to pay it off it full. AMEX does a ton of back end reviewing and if they see this practice along with your strong credit score you will get increases without ever asking for them.

This makes a lot of sense. Sometimes I think I focus on scores when I know that there is more to the equation than scores. I will use it and pay it as soon as it posts. I am in a place now that I can actually wait until they do an auto CLI without me asking for it.