topic Re: AmEx 3x CLI Question in Credit Card Applications

AmEx 3x CLI Question

SA0012 — Mon, 15 Feb 2021 04:05:15 GMT

I was approved on 2/10 for a new Cash Magnet card with $12,900 SL.

Here are my questions

1. Am I eligible to request a 3X CLI on or after April 11th?

2. Can I request 3X for $38,700?

3. I already have a BCE card with a 30K limit and wondering should I request $38,700 or the same limit as my other AmEx card?

4. Also, are there any precursors to request 3X on or after the 61st day? like PIF or carry a balance for one statement and pay off?

5. I'm planning to charge at the least 10K and pay it off before my 2nd statement generates.

Appreciate any tips on this,

AGI for 2020: $375K, if this makes any difference. I mentioned $300K for income for prior CLIs.

Re: AmEx 3x CLI Question

SA0012 — Thu, 18 Feb 2021 05:19:56 GMT

Hello MyFico Contributors, can someone answer my above question?

Re: AmEx 3x CLI Question

UncleB — Thu, 18 Feb 2021 06:58:58 GMT

Hi @SA0012, we often merge questions about the Amex 3x CLI into the "mega thread", but since it's been a few days and your question has gone unanswered I've moved it back to the 'Credit Cards' forum for additional exposure.

--UB

Re: AmEx 3x CLI Question

thornback — Thu, 18 Feb 2021 07:21:26 GMT

@SA0012 wrote:
I was approved on 2/10 for a new Cash Magnet card with $12,900 SL.

Here are my questions

1. Am I eligible to request a 3X CLI on or after April 11th?
61 days after 2/10 - so April 12th or later.  if approved, you have to wait 181 days to request again.
if denied, 91 days to request again.

2. Can I request 3X for $38,700?
Yes - just be prepared to submit an IRS form 4506t for income verification.  Amex will counter if they're not comfortable granting the full amount.

3. I already have a BCE card with a 30K limit and wondering should I request $38,700 or the same limit as my other AmEx card?
Reach for the stars.

4. Also, are there any precursors to request 3X on or after the 61st day? like PIF or carry a balance for one statement and pay off?
Amex prefers transactors so PIF whenever possible.

5. I'm planning to charge at the least 10K and pay it off before my 2nd statement generates.
Great!

Appreciate any tips on this,

AGI for 2020: $375K, if this makes any difference. I mentioned $300K for income for prior CLIs.
You should have no problems.

Re: AmEx 3x CLI Question

SA0012 — Thu, 18 Feb 2021 07:35:23 GMT

Thank you for the update @thornback

Re: AmEx 3x CLI Question

LP007 — Wed, 07 Apr 2021 00:17:19 GMT

@thornback wrote:
@SA0012 wrote:
I was approved on 2/10 for a new Cash Magnet card with $12,900 SL.

Here are my questions

1. Am I eligible to request a 3X CLI on or after April 11th?
61 days after 2/10 - so April 12th or later.  if approved, you have to wait 181 days to request again.
if denied, 91 days to request again.

2. Can I request 3X for $38,700?
Yes - just be prepared to submit an IRS form 4506t for income verification.  Amex will counter if they're not comfortable granting the full amount.

3. I already have a BCE card with a 30K limit and wondering should I request $38,700 or the same limit as my other AmEx card?
Reach for the stars.

4. Also, are there any precursors to request 3X on or after the 61st day? like PIF or carry a balance for one statement and pay off?
Amex prefers transactors so PIF whenever possible.

5. I'm planning to charge at the least 10K and pay it off before my 2nd statement generates.
Great!

Appreciate any tips on this,

AGI for 2020: $375K, if this makes any difference. I mentioned $300K for income for prior CLIs.
You should have no problems.

Great 181-day info. I found out that it applies to all Amex family cards as a whole. One CLI in the family at a time.

Re: AmEx 3x CLI Question

SA0012 — Tue, 13 Apr 2021 18:44:27 GMT

04/12 Update - Requested for a 3x CLI and I got a 7-10 days message first, then today morning I got an email for IV and requested IRS transcripts. I submitted the IV form and waiting for the response from AMEX, does anybody know how long it will take for them to approve the CLI after the IV?

Re: AmEx 3x CLI Question

FinStar — Tue, 13 Apr 2021 19:32:20 GMT

Some requests can typically be resolved within 48-72 hours, but depending on any administrative backlogs it can take up to 10 business days.

Re: AmEx 3x CLI Question

Anonymous — Wed, 14 Apr 2021 12:34:33 GMT

April 11th is only 59 days. I'd say as of today you'd be ok though. You can request the full 3x but be aware that Amex often asks for a 4506T income verification at $35k. With your stated income I don't see it being an issue being approved for the 3x as long as you comply with the request. If you don't want to do so, and they ask for it, simply hit the back button and step down your request. Keep doing this until your CLI amount does not generate a 4506T request. Amex will mail you a request form for each request in the system, which you can ignore.

As for behavior, spend and pay. It's said that Amex prefers transactor behavior (monthly PIF). Do what works for you - long as your profile is strong you're likely to get increases regardless.

Re: AmEx 3x CLI Question

SA0012 — Fri, 16 Apr 2021 20:10:54 GMT

Here is the link to check the status of your CLI requests

https://online.americanexpress.com/eaol/welcome_loc.do

Re: AmEx 3x CLI Question

SA0012 — Thu, 22 Apr 2021 02:26:37 GMT

CLI Request status shows Finalized. Unable to open the link, I might have to call tomorrow.

Re: AmEx 3x CLI Question

SA0012 — Thu, 22 Apr 2021 07:55:11 GMT

Online CLI status shows Finalized with this link https://online.americanexpress.com/eaol/welcome_loc.do

not able to open the message, is there any other way to check the message?

Re: AmEx 3x CLI Question

coldfusion — Thu, 22 Apr 2021 09:12:42 GMT

Did you try logging in online or using the app to check the Available Credit on your card?

Re: AmEx 3x CLI Question

SA0012 — Sat, 24 Apr 2021 03:58:16 GMT

I called Amex. It is still pending and they told me to check back at the end of the month.

Re: AmEx 3x CLI Question

SA0012 — Sat, 01 May 2021 07:28:03 GMT

3x CLI request is successfully completed today.

Re: AmEx 3x CLI Question

Mr_Mojo_Risin — Sat, 01 May 2021 12:47:31 GMT

@SA0012 wrote:

3x CLI request is successfully completed today.

Whew! That's what's happening right there, congratulations on a massive CLI!

Re: AmEx 3x CLI Question

SPChaser — Sat, 01 May 2021 15:51:51 GMT

Congrats on monster CLI haul

Re: AmEx 3x CLI Question

babygirl1256 — Sat, 01 May 2021 16:30:43 GMT

Congrats on the successful CLI . . . that's awesome . . . I look forward to obtaining only ½ of that amount.

Re: AmEx 3x CLI Question

FinStar — Sat, 01 May 2021 19:20:41 GMT

As the OP has provided an approval update to their pending CLI request, this thread is now closed to new messages.