topic Re: Amex 3x CLI, should I do it?! $15k to $45k!? in Credit Card Applications

Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sat, 03 Jan 2015 00:30:23 GMT

I have an Amex Blue Sky with $15k CL from the start. I've had it for over a year without getting a CLI now. Account in excellent standing. Zero balance with average 30% utilization PIF every month.

With the 3x "rule", should ask for $45k limit or is that too much? What is the cut off where Amex requires you to send in tax information?

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sat, 03 Jan 2015 00:33:20 GMT

@Anonymous wrote:
I have an Amex Blue Sky with $15k CL from the start. I've had it for over a year without getting a CLI now. Account in excellent standing. Zero balance with average 30% utilization PIF every month.

With the 3x "rule", should ask for $45k limit or is that too much? What is the cut off where Amex requires you to send in tax information?

I just used up a 3X on my AMEX BSP.. I stopped at 24K, but it seems as of late there is no hard limit.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sat, 03 Jan 2015 00:37:04 GMT

Do it, you never know

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

chalupaman — Sat, 03 Jan 2015 00:44:30 GMT

Well they've been going easy on the whole 61 day 3x CLI rule a lot now, who knows?

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sat, 03 Jan 2015 01:06:46 GMT

@chalupaman wrote:
Well they've been going easy on the whole 61 day 3x CLI rule a lot now, who knows?

I may go for $40,000 next time and see if they'll bite, lol.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

abhowmick18 — Sat, 03 Jan 2015 02:07:17 GMT

Usually they ask for verification forms when you're trying to go above $25k.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

uswala — Sat, 03 Jan 2015 04:40:16 GMT

@Anonymous wrote:
@Anonymous wrote:
I have an Amex Blue Sky with $15k CL from the start. I've had it for over a year without getting a CLI now. Account in excellent standing. Zero balance with average 30% utilization PIF every month.

With the 3x "rule", should ask for $45k limit or is that too much? What is the cut off where Amex requires you to send in tax information?
I just used up a 3X on my AMEX BSP.. I stopped at 24K, but it seems as of late there is no hard limit.

I and my wife both did the same. We thought $24K is good enough and to go through any hassle of FR.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Mon, 19 Jan 2015 01:43:32 GMT

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

disdreamin — Sat, 03 Jan 2015 12:49:02 GMT

Going above $25k does not automatically cause issues - I went above this by a fair amount and was instantly approved. They did request verbal confirmation of current individual income and mortgage pmt amounts.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

ojefferyo — Sat, 03 Jan 2015 18:30:07 GMT

@disdreamin wrote:
Going above $25k does not automatically cause issues - I went above this by a fair amount and was instantly approved. They did request verbal confirmation of current individual income and mortgage pmt amounts.

So you had to call in?

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

disdreamin — Sat, 03 Jan 2015 22:29:22 GMT

@ojefferyo wrote:
@disdreamin wrote:
Going above $25k does not automatically cause issues - I went above this by a fair amount and was instantly approved. They did request verbal confirmation of current individual income and mortgage pmt amounts.
So you had to call in?

My mistake, I did two CLI's in one day - Chase were the ones who asked for the income and mortgage info.

With AmEx I just punched in the number for the credit line I wanted and it asked for my income. I did it by phone as I had wanted to speak to a CSR about whether to claim my income alone or mine and my hubby who is an additional cardholder on the account. In the end, I didn't speak to anyone (once I selected CLI there wasn't an option to speak to a representative) and just input my income rather than household income (we file jointly, FWIW).

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

aav — Sat, 03 Jan 2015 21:13:38 GMT

I requested 30k on my bcp (starting limit was 14.5k). I got the 7-10 day message but started over and requested and was approved for 25k yay! When the 7-10 day letter came in a few days later, it was a copy of the tax form to fill in and send back. I would not have minded filling out the form, but I like immediate answers. Not sure what I'll do for the next increase.. Probably increase on the EDC which is at 9.5k. But not sure how much I will ask for.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sun, 04 Jan 2015 21:42:23 GMT

Out of curiousity what is the big fuss about having to submit a 4506-T? If you actually make as much money as you claim when you apply for the card there would be no problem, correct? I am not trying to pick on anyone here, I am genuinely curious. I assume I will have to do it at some point so I would like to know.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sun, 04 Jan 2015 23:03:01 GMT

I will resubmit a 4506-T when im good and ready to do so.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

NRB525 — Sun, 04 Jan 2015 23:08:50 GMT

@Anonymous wrote:
Out of curiousity what is the big fuss about having to submit a 4506-T? If you actually make as much money as you claim when you apply for the card there would be no problem, correct? I am not trying to pick on anyone here, I am genuinely curious. I assume I will have to do it at some point so I would like to know.

The 4506-T gives the holder access to request the transcript of your IRS tax forms for the years stated, so it gives a rather clear view to all your tax return data, sent directly from the IRS to AMEX (or other bank).

I agree, it shouldn't be a concern, but some people are miffed by the privacy issues.

Nevermind that AMEX already knows everything you've ever bought on their cards, as if they cared...

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

VirtualCuriosity — Sun, 04 Jan 2015 23:23:31 GMT

@Anonymous wrote:
Out of curiousity what is the big fuss about having to submit a 4506-T? If you actually make as much money as you claim when you apply for the card there would be no problem, correct? I am not trying to pick on anyone here, I am genuinely curious. I assume I will have to do it at some point so I would like to know.

I thought the same thing, but after rethnking it, I don't believe I would want to send that info either. It's more of a privacy issue in terms of it being information that I like to keep between me and my Uncle Sam. If it were just paystubs, I probably wouldn't have an issue.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Sun, 04 Jan 2015 23:50:02 GMT

Thanks for clearing it up guys. I knew what the form itself was, I was just looking for input as to why people get miffed about submitting one. When I began getting cards I used less than 50% of my income when applying to avoid having to get too much documentation together to verify income if requested. I get why people value their privacy, I am one of those people. So far though, I don't get the impression that AMEX or any other bank is nearly as intrusive as say Google in regards to using my information and patterns (in this case spending) to make more money from me.

What I am saying is, I would rather AMEX know I bought a first class plane ticket to Michigan or how much money I make, rather than google knowing I had to look up "blumpkin" on urbandictionary.com so I knew what my workers were talking about...

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Anonymous — Mon, 05 Jan 2015 00:56:44 GMT

Generally, when AMEX (or anybody for that matter) requests a 4506-T, do you HAVE to fill it out? Can you decide not to receive a CLI anymore and just not fill it out or would your account be frozen or something? And if you do fill it out and send it in, what, on average, is the length of time to hear a decision regarding the CLI request?

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

VirtualCuriosity — Mon, 05 Jan 2015 01:45:19 GMT

@Anonymous wrote:
Generally, when AMEX (or anybody for that matter) requests a 4506-T, do you HAVE to fill it out? Can you decide not to receive a CLI anymore and just not fill it out or would your account be frozen or something? And if you do fill it out and send it in, what, on average, is the length of time to hear a decision regarding the CLI request?

Just by reading elasewhere, they way I think I unsderstand it is if it's for a FR, you must send it. If it is for a requested CLI, only the CLI depends on it. Whether you decide to send it in or not only affects the CLI approval. Someone can correct me if that is wrong.

Re: Amex 3x CLI, should I do it?! $15k to $45k!?

Creditaddict — Mon, 05 Jan 2015 05:16:03 GMT

@abhowmick18 wrote:
Usually they ask for verification forms when you're trying to go above $25k.

110% NOT TRUE!~

I actually hate reading this because it just spreads wrong information about amex and this stupid FR stuff.

Amex CLI will instantly counter you so I don't see why not ask for the full 3x

secondly if they want income docs for a cli "usually" you can just choose not to give them and keep your current CL

thirdly FR's are not usually caused by CL at all from my experience and the times when most poeple post about being full on FR'd and that's out of the norm spending or huge spending on AU users above the primary that out paces the income stated ont he account.