topic Amex 3x CLI vs Other lenders in Credit Cards

Amex 3x CLI vs Other lenders

Jaylima91 — Fri, 02 Jan 2015 02:11:49 GMT

So, we all know about Amexs 3x cli after 61 days of account opening. I'd like to know what you guys think about other lenders willingness to increase CL. By other lenders I mean all major banks like, Chase, BofA, Barclay, etc. Are they as willing as Amex is. I know that it really all depends on your credit profile and not always does Amex approve a 3x cli. Just want to hear some opinions on your experiences with other lenders and CLI.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 02:12:53 GMT

@Jaylima91 wrote:
So, we all know about Amexs 3x cli after 61 days of account opening. I'd like to know what you guys think about other lenders willingness to increase CL. By other lenders I mean all major banks like, Chase, BofA, Barclay, etc. Are they as willing as Amex is. I know that it really all depends on your credit profile and not always does Amex approve a 3x cli. Just want to hear some opinions on your experiences with other lenders and CLI.

AMEX is the fastest to CLI, but 61 days doesn't guarantee a thing.

Re: Amex 3x CLI vs Other lenders

Jaylima91 — Fri, 02 Jan 2015 02:19:32 GMT

Seems fair enough. Just because they offer the 3x cli doesn't necessarily make them any more willing to increase CL compared to other major lenders.

Re: Amex 3x CLI vs Other lenders

mongstradamus — Fri, 02 Jan 2015 02:26:43 GMT

@Jaylima91 wrote:
Seems fair enough. Just because they offer the 3x cli doesn't necessarily make them any more willing to increase CL compared to other major lenders.

I was able to get an few Auto cli from freedom but they aren't guranteed and you really don't know when they will come.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 02:27:42 GMT

@mongstradamus wrote:
@Jaylima91 wrote:
Seems fair enough. Just because they offer the 3x cli doesn't necessarily make them any more willing to increase CL compared to other major lenders.
I was able to get an few Auto cli from freedom but they aren't guranteed and you really don't know when they will come.

I'm on my 2nd Auto-CLI on my AMEX BSP as of yesterday.

Re: Amex 3x CLI vs Other lenders

mongstradamus — Fri, 02 Jan 2015 02:29:19 GMT

@Anonymous wrote:
@mongstradamus wrote:
@Jaylima91 wrote:
Seems fair enough. Just because they offer the 3x cli doesn't necessarily make them any more willing to increase CL compared to other major lenders.
I was able to get an few Auto cli from freedom but they aren't guranteed and you really don't know when they will come.
I'm on my 2nd Auto-CLI on my AMEX BSP as of yesterday.

I had two 3x cli on my BCE, and did my first one on my EDP earlier in decemeber. I am fine with the CL i have with amex for now. Not going to ask for much more i don't want to have to deal with FR or have chase or another lender say you have too much available credit.

Re: Amex 3x CLI vs Other lenders

takeshi74 — Fri, 02 Jan 2015 15:25:41 GMT

@Jaylima91 wrote:
I know that it really all depends on your credit profile and not always does Amex approve a 3x cli. Just want to hear some opinions on your experiences with other lenders and CLI.

3x was just a limit where one would be instantly denied if 3x was exceeded. However that appears to have changed and AmEx will apparently now counter if one requests more than 3x but qualifies for less. I really don't have enough data points from my own experience to even attempt to guess at what other creditors are like but other creditors certainly have their own limits, criteria and restrictions on timeframes for CLI's.

I've received CLI's from AmEx, Discover, US Bank and USAA. I have not received CLI's with Chase but I know from opening my Freedom that I hit my internal limit with Chase and had to reallocate to open the Freedom. My wife has received several auto CLI's from Chase but she only has one card with them where I have 4. Most of my CLI's with any creditor have been at my request but I have received auto CLI's with Discover and USAA. I have not received CLI's from PenFed but my PPCR was opened with a large credit line and, IIRC, discussion seem to indicate that they top out at $50K. No CLI's with FNBO either but that account is relatively new and was started with what I think was a decent limit and I'm not in any rush to get get it raised.

You might want to look at prior discussions as well. I recall running across threads mentioning that US Bank requires 6 months from account open for a CLI and I waited until my 6th cycle closed before requesting. Other threads mentioned that Discover required 3 months so I waited until 3 months to request a CLI from them. IIRC with USAA it's something like every 6 months. I can't say for certain that these timeframes are valid or set in stone.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 16:05:29 GMT

Other lenders HP you for customer initiated CLI.

That seems to be the only downer if you have too many inquiries. (i-e: Cap One Credit Tracker gives you grade D for more than 5 inqs)

Re: Amex 3x CLI vs Other lenders

Jaylima91 — Fri, 02 Jan 2015 18:50:33 GMT

Judging by your experiences with other lenders other than Amex, who would you say is pretty lenient with CLI. Of course, as always YMMV. Just an opinion.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 19:57:59 GMT

@Anonymous wrote:
Other lenders HP you for customer initiated CLI.
That seems to be the only downer if you have too many inquiries. (i-e: Cap One Credit Tracker gives you grade D for more than 5 inqs)

Not really. With Citi, for example, when you start the CLI process online you can see if it will be soft or hard (and frequently it is soft) Many lenders offer SP CLIs in various circumstances.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 21:46:10 GMT

@Anonymous wrote:
Other lenders HP you for customer initiated CLI.
That seems to be the only downer if you have too many inquiries. (i-e: Cap One Credit Tracker gives you grade D for more than 5 inqs)

Discover will do SPs sometimes. You just have to ask, and then you have to decline if they tell you it's going to take a hard pull.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 22:54:47 GMT

I got a 2.5x on my Fidelity Amex (issued by BoA) at 62 day mark. The guy said he can't do "the full 3x" because of my particular credit situation at that time. I found that interesting.

I then got a 4.5x cli on the same card about 6 months later.

Both were HPs as they always are with BoA, but I was happy to take them for such significant increases. BoA has been good to me. I got an unsecured rewards card from them with no credit when I banked with them and then the Fido Amex as my first two cards.

Re: Amex 3x CLI vs Other lenders

Jaylima91 — Fri, 02 Jan 2015 22:56:13 GMT

Does the 3x cli work other amex cobranded cards also?

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 22:57:40 GMT

@Jaylima91 wrote:
Does the 3x cli work other amex cobranded cards also?

No.

Re: Amex 3x CLI vs Other lenders

Anonymous — Fri, 02 Jan 2015 22:58:15 GMT

@Jaylima91 wrote:
Does the 3x cli work other amex cobranded cards also?

No, but as the post above shows, you can get less or more than 3x on other cards. But not always soft pulls

Re: Amex 3x CLI vs Other lenders

Jaylima91 — Fri, 02 Jan 2015 22:59:04 GMT

I see. Thanks LL and Nixon