topic Re: Best way to increase SL AMEX Simply Cash Plus card in Business Credit

Best way to increase SL AMEX Simply Cash Plus card

QCS123 — Mon, 28 May 2018 03:34:20 GMT

DH just got approved for his first business card ever. We just got his scores up 50pts or so and he still doesn't have great FICO scores but EX is his highest so that worked well with apply with AMEX. He was approved for a personal card and then we decided why not try the business card too. We were shocked he was approved, but his spending limit was only $2,000 so after reading the boards, I thought heck, why not ask for a spending limit increase. Asked for $6,000 (wanted more, but I knew better) and they countered at $4,000. So that's better. Since this card has a somewhat flexible limit, we are going in knowing that they more than likely won't let him spend $6,000 rght off the bat, so what is the best way to get his limit increased over time through the spending feature that is supposed to adjust every month? We are hoping to get the card up to over $20k as quickly as possible (if that's even possible). Any advice on monthly spend aside from waiting and regularly asking for CLI every few months?

His current scores:

FICO 08 (Experian) ….. EX 696 EQ 688 TU 690 (5/26/18)

Re: Best way to increase SL AMEX Simply Cash Plus card

SouthJamaica — Mon, 28 May 2018 12:01:10 GMT

@QCS123 wrote:
DH just got approved for his first business card ever. We just got his scores up 50pts or so and he still doesn't have great FICO scores but EX is his highest so that worked well with apply with AMEX. He was approved for a personal card and then we decided why not try the business card too. We were shocked he was approved, but his spending limit was only $2,000 so after reading the boards, I thought heck, why not ask for a spending limit increase. Asked for $6,000 (wanted more, but I knew better) and they countered at $4,000. So that's better. Since this card has a somewhat flexible limit, we are going in knowing that they more than likely won't let him spend $6,000 rght off the bat, so what is the best way to get his limit increased over time through the spending feature that is supposed to adjust every month? We are hoping to get the card up to over $20k as quickly as possible (if that's even possible). Any advice on monthly spend aside from waiting and regularly asking for CLI every few months?

His current scores:
FICO 08 (Experian) ….. EX 696 EQ 688 TU 690 (5/26/18)

Have to wait 6 months or 181 days for the CLI's.

Sorry I have no knowledge about how to get the above-limit spending increased. My guess is use the card a lot, and pay it down a lot.

Re: Best way to increase SL AMEX Simply Cash Plus card

Anonymous — Mon, 28 May 2018 12:54:50 GMT

I've had that card about 8 months. When I got it, I had a low starting limit too. My first Amex. I think my starting limit was 2000 as well. I got it right before black Friday... I spent maybe a month or two months spending and immediately paying it off. Then I wondered... Would they let me go the whole month...

If I remember right, I had a balance over 6000 because of black Friday in November... Only being a customer since September... And having a 2000 limit. Just remember... Don't spend over your limit if you aren't paying it off the same month... Everything over your limit is like a charge card. It's due in full, on your due date, every month.

Another thing I have noticed is when you submit a payment online it's immediately available. VERY helpful. Let's say you're at 2000 utilization a week into the month. In the app, you can ask it if they will approve an additional 2000 dollars. If it says no, ask if it will approve 1000. If it says yes, make a payment for at least 1000. Ask it again about the 2000...it will probably give you the answer you wanted the first time.

Amex, from my limited experience, could not give a care in the world what your credit is... Once you have their card, your credit is irrelevant. How much do you spend, how often do you spend it, how much of a balance do you carry and for how long... If you spend a lot, consistently through the month, you pay them off in full and you don't miss a payment... They'll pretty much let you do as you please.

Re: Best way to increase SL AMEX Simply Cash Plus card

Creditaddict — Mon, 28 May 2018 15:43:46 GMT

Yes as another poster stated, Amex counts payments INSTANTLY.

Install the Amex app on your phone and setup your bank stuff and if card is declined, say give me 10 seconds, log in, pay, swipe again!

That way you can push your spend over credit line as high as possible but still fix it instantly if it's declined.

These days with fraud alerts on cards and such most people don't even blink at a card being declined (if you're embarrassed about it, I wouldn't be).

I also turn on text alerts for EVERY charge over $1, that way it texts me the second the card is swiped, and I get alert if it's denied instantly... If im not swiping the card myself, I can usually be done making the payment before they come back saying issue with card, and I just say resolved... please try again!

The more you spend each month and PIF, the higher amex will let you spend over the limit.

But official CLI won't be for 6 months now.