AMEX CLI denial after requesting bank statements

csulaguy — Tue, 27 Aug 2024 18:09:19 GMT

So I tried to apply for a CLI last night on my Blue Cash Preferred, and AMEX wanted bank statements. I didn't check here first and linked some accounts for my ebay business, and then got a denial PDF this morning stating that my income doesn't support the justification to give me a CLI. My SL is $8K, but was originally higher (I used some of that credit limit to increase the SL on my Blue Cash Everyday card, which sits at $18K SL). Also, before asking for the CLI, I had just been approved for the Blue Cash Business at $19.6K.

Does the standard 3 month time period apply before applying again, and if it triggers another financial review, should I just let that timeout? The accounts I submitted showed I had about $30K in incoming deposits for the previous three months, but the balances were low, because I shuffled money around to high yield savings accounts.

Re: AMEX CLI denial after requesting bank statements

GZG — Tue, 27 Aug 2024 18:20:22 GMT

@csulaguy wrote:
So I tried to apply for a CLI last night on my Blue Cash Preferred, and AMEX wanted bank statements. I didn't check here first and linked some accounts for my ebay business, and then got a denial PDF this morning stating that my income doesn't support the justification to give me a CLI. My SL is $8K, but was originally higher (I used some of that credit limit to increase the SL on my Blue Cash Everyday card, which sits at $18K SL). Also, before asking for the CLI, I had just been approved for the Blue Cash Business at $19.6K.

Does the standard 3 month time period apply before applying again, and if it triggers another financial review, should I just let that timeout? The accounts I submitted showed I had about $30K in incoming deposits for the previous three months, but the balances were low, because I shuffled money around to high yield savings accounts.

you have a couple of choices:

try again, provide bank statements and hope for the best.

The reason they gave probably isn't the true underwriting reason, so I wouldn't put much stock into it.

try again, ask for less, provide bank statements if requested. Asking for less is helpful and might get you an approval where you otherwise would have been denied. $5k more is a good ask without asking for too much.

reallocate limits between your personal cards to get a more ideal split between the cards

Perhaps ask for a CLD, lower limit on your biz card if you want to increase limits on your personal cards. No guarantee you would get that limit back anytime soon, but it could help.

the bank statements request is a POI (proof of income) request, completely optional to respond to and the worse that will happen is a denial on a CLI request, or denial for a card application if the POI request occured for the application of a card.

"finanical review" is when your cards are locked and amex demands tax returns/bank statements otherwise your accounts are closed.

you'll prob need to wait the full 3 months before you can apply for a personal CLI, you might be granted the chance to ask for a biz CLI sooner than that though, IME.

topic Re: AMEX CLI denial after requesting bank statements in Credit Card Applications

AMEX CLI denial after requesting bank statements

Re: AMEX CLI denial after requesting bank statements