topic Re: Amex CLI with BK 7 in Credit Card Applications

Amex CLI with BK 7

Ali_baba — Wed, 04 May 2022 00:47:01 GMT

today is the 7 year mark on my dc on my bk. I tried to get a cli on my bcp and I got Declined because of BK. Do I have to wait the full ten years to get a cli?

Re: Amex CLI with BK 7

Zoostation1 — Wed, 04 May 2022 01:23:39 GMT

What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.

Re: Amex CLI with BK 7

Ali_baba — Wed, 04 May 2022 01:51:31 GMT

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.

I started with a $1000 sl

Re: Amex CLI with BK 7

OmarGB9 — Wed, 04 May 2022 02:00:39 GMT

@Ali_baba wrote:

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.
I started with a $1000 sl

How long have you had the account?

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.

Re: Amex CLI with BK 7

bigseegar — Wed, 04 May 2022 12:05:58 GMT

@Ali_baba wrote:
today is the 7 year mark on my dc on my bk. I tried to get a cli on my bcp and I got Declined because of BK. Do I have to wait the full ten years to get a cli?

Pretty much yes you do. AmEX rarely gives a CLI on new cards with a BK still reporting. Once it's off that changes. I know this from experience.

Re: Amex CLI with BK 7

bigseegar — Wed, 04 May 2022 12:08:09 GMT

@OmarGB9 wrote:
@Ali_baba wrote:

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.
I started with a $1000 sl
How long have you had the account?

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.

The BK is actually very mucgh the reason they were denied a CLI and also the reason for the SL of $1K and "barely" getting in. While AmEx will let you in with a BK after 5.1 years they still use that to keep you on tight reins until it's no longer reporting. I know this first hand.

Re: Amex CLI with BK 7

OmarGB9 — Wed, 04 May 2022 12:45:21 GMT

@bigseegar wrote:
@OmarGB9 wrote:
@Ali_baba wrote:

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.
I started with a $1000 sl
How long have you had the account?

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.
The BK is actually very mucgh the reason they were denied a CLI and also the reason for the SL of $1K and "barely" getting in. While AmEx will let you in with a BK after 5.1 years they still use that to keep you on tight reins until it's no longer reporting. I know this first hand.

I stand corrected. I just figured they wouldn't let you in at all with a revolver with a BK still showing.

Re: Amex CLI with BK 7

Ali_baba — Wed, 04 May 2022 14:14:53 GMT

@OmarGB9 wrote:
@Ali_baba wrote:

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.
I started with a $1000 sl
How long have you had the account?

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.

In July it will be two years

Re: Amex CLI with BK 7

OmarGB9 — Wed, 04 May 2022 18:16:58 GMT

@Ali_baba wrote:
@OmarGB9 wrote:
@Ali_baba wrote:

@Zoostation1 wrote:
What's was your starting CL? Once I get past the automatic 5yr 1mo blacklist for BK7 not involving them, BCE or BCP would potentially be of interest to me.
I started with a $1000 sl
How long have you had the account?

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.
In July it will be two years

Yea the $1k approvals can be hard to grow, sometimes taking years. I'm in the same boat. I got approved for a BCP back in December, but only for $1k. Tried for a CLI at 61 and 91 days, no dice. Waiting until 181 days next month and then we'll see.

Re: Amex CLI with BK 7

JLRDC909 — Wed, 04 May 2022 22:09:26 GMT

I had a BK showing and tried for years to get past the $1000 CL. Every denial stated "due to bankruptcy/derogatory credit report".

I think that's Amex's way of saying "we are trusting you with a small limit until that mark is removed". Several years ago Amex wouldn't even approve you with a derogatory mark, let alone a BK. They used to want spotless reports.

Once the BK fell off I had no problem getting increases.

Re: Amex CLI with BK 7

Flfico — Wed, 04 May 2022 23:49:09 GMT

I've received several Amex cli's with my ch7 reporting so it is possible. YMMV as always.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/2nd-Amex-CLI-with-BK-Reporting/m-p/6402122

Re: Amex CLI with BK 7

Ali_baba — Thu, 05 May 2022 00:02:02 GMT

@Flfico wrote:
I've received several Amex cli's with my ch7 reporting so it is possible. YMMV as always.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/2nd-Amex-CLI-with-BK-Reporting/m-p/6402122

I just read it your post. After the 7 year mark. When did you request the cli?

Re: Amex CLI with BK 7

Flfico — Thu, 05 May 2022 00:08:52 GMT

Ch 7 filed November 2013. First successful request was Feb 2021 i believe. 2nd was Sept 21.

Re: Amex CLI with BK 7

Rogue46 — Sat, 07 May 2022 14:45:52 GMT

I'm at 7 yrs 5 mo post bk7 and finally received my first CLI from Amex so it's possible with it still on your reports

Re: Amex CLI with BK 7

Catb43 — Tue, 07 Jun 2022 02:53:21 GMT

I just tried to get a cli today on my blue cash card and received an email with a denial that states that I have a BK (that is nearly 6 years old) on my credit report. I was actually shocked. It's my lowest SL cards with only 1k. I've obtained several credit cards in the 6 years since my BK including the platinum and gold Amex. I've never been denied a cli. Here I thought I finally got past the BK but Amex let me know it will haunt me til it's off my report for good next year. I will be shelving mine til then. Not much I can do with a 1k credit limit.

Re: Amex CLI with BK 7

sznthescore — Tue, 07 Jun 2022 04:09:06 GMT

@Catb43 wrote:
I just tried to get a cli today on my blue cash card and received an email with a denial that states that I have a BK (that is nearly 6 years old) on my credit report. I was actually shocked. It's my lowest SL cards with only 1k. I've obtained several credit cards in the 6 years since my BK including the platinum and gold Amex. I've never been denied a cli. Here I thought I finally got past the BK but Amex let me know it will haunt me til it's off my report for good next year. I will be shelving mine til then. Not much I can do with a 1k credit limit.

FYI a BK will remain on your report for up to 10 years.

Re: Amex CLI with BK 7

TRC_WA — Tue, 07 Jun 2022 15:57:36 GMT

@OmarGB9 wrote:
@Ali_baba wrote:

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.

I agree. I had an Amex Delta with a $1k limit that I closed in late 2016 prior to filing Ch 13. I never got a CLI with that card... but then again I never used it much.

Last month (5+ years after BK) I was approved for the same card with a $10k limit... totally amazing and the desire for a CLI isn't as great being I got an awesome SL. Amex has also increased the perks for using the card so it will be my go to card for the forseeable future.

Re: Amex CLI with BK 7

TRC_WA — Tue, 07 Jun 2022 16:01:19 GMT

@bigseegar wrote:
Pretty much yes you do. AmEX rarely gives a CLI on new cards with a BK still reporting. Once it's off that changes. I know this from experience.

Good to know. My Ch 13 doesn't fall off till next year. I'll probably just wait till then to request a CLI... with a $10k limit on my new card it's not a pressing need anyway. Such an amazing SL.

@bigseegar wrote:
@OmarGB9 wrote:

I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.
The BK is actually very mucgh the reason they were denied a CLI and also the reason for the SL of $1K and "barely" getting in. While AmEx will let you in with a BK after 5.1 years they still use that to keep you on tight reins until it's no longer reporting. I know this first hand.

They're like any other creditor... no rhyme nor reason to what they do. I closed my prior $1k card specifically because I didn't want to burn them... then 5+ years later they give me the same card with a $10k SL with the Ch 13 still reporting for another year or so.

Re: Amex CLI with BK 7

TRC_WA — Tue, 07 Jun 2022 16:06:22 GMT

@JLRDC909 wrote:
I had a BK showing and tried for years to get past the $1000 CL. Every denial stated "due to bankruptcy/derogatory credit report".

I think that's Amex's way of saying "we are trusting you with a small limit until that mark is removed". Several years ago Amex wouldn't even approve you with a derogatory mark, let alone a BK. They used to want spotless reports.

Once the BK fell off I had no problem getting increases.

As said... no rhyme nor reason to what they do. I closed my $1k card... filed Ch 13 and didn't burn them... 5+ years later I get the same card with a $10k limit with the Ch 13 still reporting for another year or so.

@Flfico wrote:
I've received several Amex cli's with my ch7 reporting so it is possible. YMMV as always.

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/2nd-Amex-CLI-with-BK-Reporting/m-p/6402122

Yep... now you've got me thinking maybe I should go for a CLI on day 91... LOL...

Re: Amex CLI with BK 7

TRC_WA — Tue, 07 Jun 2022 16:09:55 GMT

@sznthescore wrote:
FYI a BK will remain on your report for up to 10 years.

Correct... and I've been asked why Ch 13 quite a few times...

"Because I made too much money."

The perk though of making payments for 5 years is the BK falls off after 7 years... not the 10 years you wait if you file a Ch 7.