topic Re: No Lov American Express Considering Closing in Credit Cards

No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 13:13:08 GMT

A little over a year ago after fixing my credit I was a approved for a amex ED 500CL and BC 1000cl. At the time I was happy just to be in with Amex but after a year I am still stuck on these CL's. During this period all my cards including Discover, BOFA Barclays and Capone have all increased significantly from their initial CL but from some reason I keep getting denied for CLI from Amex stating not enough history, Really how long do need to have these cards. It's come to the point that these cards have the lowest limits next to my Khols 700cl. I am considering just closing these accounts because I refuse to use them and believe me I did use these cards in hopes that they would grow. Now I don't even have these cards in my wallet there just sitting in my drawer. Has anyone has an experiences like this with Amex? Please share, this is really frustrating. FYI my scores are all around 670 UTL 8%

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 13:15:54 GMT

What's holding your scores down? If they're heading up and you anticipate being in the 700's soon, maybe try for CLI the first time your eligible once you're in the 700s. Until then, they're no fee, Which do you prefer? Cash back or MR? Maybe focus on one and close the other?

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 13:21:10 GMT

I had a collections from Progressive Insurance which I was able to clear off my CR. I prefer cash back, but at this point I'm not even using my amex cards.

Re: No Lov American Express Considering Closing

NRB525 — Sun, 27 Sep 2015 13:54:15 GMT

@Anonymous wrote:
I had a collections from Progressive Insurance which I was able to clear off my CR. I prefer cash back, but at this point I'm not even using my amex cards.

If you like cash back, then just go ahead and use the BCE and take advantage of the 3% on supermarkets with no AF.

You mention that you are at 6% utilization overall, but AMEX and your current CCC don't really care that much about utilization. They want you to use their cards, to generate swipe fees. If you are holding back in using a $500 or $1,000 card because you never want to go over 10% reported on any card, because of things you've read here, you are doing it wrong. With a $500 card, you can't avoid pushing the limit with daily spend if you want to show usage.

Will going over 50% utilization on a card ding your score? Yes, for me it causes about a 7 point drop for each card when I recently let both my $500 secured cards go over 50%. But in the long run, with your AMEX cards, your objective is to get the rewards from spend, and try to get a CLI down the road. The best way to accomplish that is to use the cards often, and show AMEX that you know how to charge and pay, charge and pay, rinse and repeat.

My Delta AMEX was issued with a $2,000 starting limit in July 2013. I was regularly running $500 - $600 per month through the card and PIF, then a year later, in June 2014, ran the card up with some significant purchases to $1,950 out of the $2,000 lmit. Before I could PIF that amount, they gave me an Auto CLI to $3,000.

Until you get the cards out of the SD, start showing usage, and pushing these limits, until then AMEX thinks you are just fine with the card, and they are very comfortable with the initial CL they have granted.

Your job is to show them more about your payment habits by using the cards. And not be so focused just on your FICO score.

Good luck!

Re: No Lov American Express Considering Closing

axlm — Sun, 27 Sep 2015 14:01:06 GMT

@NRB525 wrote:
@Anonymous wrote:
I had a collections from Progressive Insurance which I was able to clear off my CR. I prefer cash back, but at this point I'm not even using my amex cards.
If you like cash back, then just go ahead and use the BCE and take advantage of the 3% on supermarkets with no AF.
You mention that you are at 6% utilization overall, but AMEX and your current CCC don't really care that much about utilization. They want you to use their cards, to generate swipe fees. If you are holding back in using a $500 or $1,000 card because you never want to go over 10% reported on any card, because of things you've read here, you are doing it wrong. With a $500 card, you can't avoid pushing the limit with daily spend if you want to show usage.

Will going over 50% utilization on a card ding your score? Yes, for me it causes about a 7 point drop for each card when I recently let both my $500 secured cards go over 50%. But in the long run, with your AMEX cards, your objective is to get the rewards from spend, and try to get a CLI down the road. The best way to accomplish that is to use the cards often, and show AMEX that you know how to charge and pay, charge and pay, rinse and repeat.

My Delta AMEX was issued with a $2,000 starting limit in July 2013. I was regularly running $500 - $600 per month through the card and PIF, then a year later, in June 2014, ran the card up with some significant purchases to $1,950 out of the $2,000 lmit. Before I could PIF that amount, they gave me an Auto CLI to $3,000.

Until you get the cards out of the SD, start showing usage, and pushing these limits, until then AMEX thinks you are just fine with the card, and they are very comfortable with the initial CL they have granted.

Your job is to show them more about your payment habits by using the cards. And not be so focused just on your FICO score.

Good luck!

On the other hand, I just got a CLI to $8000 on my Blue that was issued with a $3500. Total spend over 8 months: $440 on around 20 swipes . Previously denied twice.

If you want an Amex in your future, just sit tight and be patient.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 14:03:34 GMT

@Anonymous wrote:
A little over a year ago after fixing my credit I was a approved for a amex ED 500CL and BC 1000cl. At the time I was happy just to be in with Amex but after a year I am still stuck on these CL's. During this period all my cards including Discover, BOFA Barclays and Capone have all increased significantly from their initial CL but from some reason I keep getting denied for CLI from Amex stating not enough history, Really how long do need to have these cards. It's come to the point that these cards have the lowest limits next to my Khols 700cl. I am considering just closing these accounts because I refuse to use them and believe me I did use these cards in hopes that they would grow. Now I don't even have these cards in my wallet there just sitting in my drawer. Has anyone has an experiences like this with Amex? Please share, this is really frustrating. FYI my scores are all around 670 UTL 8%

I've had both ED and BCE for nearly six months and they tell me the same thing. Decided to wait again till the full year and try. Figure since my AAoA is less than 2 years that is holding me back. Do you have anything with them scheduled for autopay just to continue to show pay history. That's what I'm doing. My Cap 1 cards and Synchrony cards are the only one's growing right now, but that's okay since I didn't had any bankcard history until August of last year. Good luck whatever you do.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 14:08:41 GMT

Keep cards, use cards. Try for CLI in 12 months.

Re: No Lov American Express Considering Closing

icyhot — Sun, 27 Sep 2015 14:47:09 GMT

I've heard that people initially approved with low limits by Amex have a hard find getting CLIs, I have 2 Amexes and one that barely gets use and has an AF, when they allow me I'm gonna roll the CL over to the one I use. It'll still be a measly $2000, but it's better than 2 $1000 cards :-/

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 14:59:53 GMT

Use your ED like a debit card and hit the 20 swipes necessary in a month. If you need to make payments on the account during the month while using it, do it. It's not that hard. You can't expect a CLI if you're not using the card. What's the point from Amex's standpoint? It sounds like you're holding yourself back by being stubborn.

Either use it, stick it in a drawer or close it. I'd say use it or just sit it aside since there's no AF.

And work on getting your scores up to 700. That would also help.

Re: No Lov American Express Considering Closing

NRB525 — Sun, 27 Sep 2015 15:03:41 GMT

@icyhot wrote:
I've heard that people initially approved with low limits by Amex have a hard find getting CLIs, I have 2 Amexes and one that barely gets use and has an AF, when they allow me I'm gonna roll the CL over to the one I use. It'll still be a measly $2000, but it's better than 2 $1000 cards :-/

This may be a common occurence, but my experience is that AMEX wants to see usage, so utilizing nearly all of the $1k limit then PIF is a definite, likely successful, strategy to get a CLI from AMEX, and earn points at the same time. Others will see CLI with almost no usage, but I'm a believer in active credit strategies, not SD

The Delta AMEX is fairly easy to get, but yes, the $95 AF can be a problem if one is not flying Delta. Still, it only takes two Delta round trips per year to see the benefit in the $25 first bag free; 2 trips x 2 legs x $25 = $100.

Re: No Lov American Express Considering Closing

taxi818 — Sun, 27 Sep 2015 15:04:00 GMT

1 year is not a long time in the credit world. Are you just looking in the short term? the fact you have a 500 cl and 1k cl tells you it was borderline approval to begin with. Just give it more time. IN the end you will see once they start to grow they will continue to grow. you are in same situation as my brother. He got the delta at 1k. 11 months ago. Still no increase. I got mine a year ago 1 month before him and im at 20k already. Just Depends. You are in. It does not cost you anything. What is a little time?

Re: No Lov American Express Considering Closing

OmarGB9 — Sun, 27 Sep 2015 15:06:53 GMT

Can't get love if you don't show it. SDing the card is the opposite of what you should be doing.

Re: No Lov American Express Considering Closing

SouthJamaica — Sun, 27 Sep 2015 15:10:40 GMT

@Anonymous wrote:
A little over a year ago after fixing my credit I was a approved for a amex ED 500CL and BC 1000cl. At the time I was happy just to be in with Amex but after a year I am still stuck on these CL's. During this period all my cards including Discover, BOFA Barclays and Capone have all increased significantly from their initial CL but from some reason I keep getting denied for CLI from Amex stating not enough history, Really how long do need to have these cards. It's come to the point that these cards have the lowest limits next to my Khols 700cl. I am considering just closing these accounts because I refuse to use them and believe me I did use these cards in hopes that they would grow. Now I don't even have these cards in my wallet there just sitting in my drawer. Has anyone has an experiences like this with Amex? Please share, this is really frustrating. FYI my scores are all around 670 UTL 8%

I've had a similar experience with Amex. Got 2 revolving accounts 13 or 14 months ago, have never gotten a CLI request granted. My record has been perfect, both with them and with everyone else.

It appears, though, that they have a robotic response which involves denying any CLI request if a previous CLI request was denied within the previous 91 days, and the 91 days resets with each denial. Dumb policy but I've read that enough times in this forum to think it may indeed be the fact.

I know that people are telling you to utilize the cards plenty, but I've tried that and it didn't make a difference.

So I'm waiting until 91 days passes from my last CLI denial. If they deny me then, then I'm just going to give up on them and largely SD the cards for a long time.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 15:17:14 GMT

Building up good limits with Amex isn't a gaurnteed overnight thing. There are plenty of members here who have done "all the right things" and still denied their 61 day 3X CLI, just search the forums and you will see. Amex is one of those lenders that takes their time, and rewards their members handsomly when they take their time as well. Use your cards, PIF, maybe once in a while carry a small balance (less than $100), and enjoy the garden. Then, after say 91 or 180 days, click that LUV button again. If it is still a no go, don't get frustrated, just continue doing what you're doing. One thing I have learned in the years that I lurked here before I started contributing, credit doesn't happen overnight.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 16:18:29 GMT

@Anonymous wrote:
Building up good limits with Amex isn't a gaurnteed overnight thing. There are plenty of members here who have done "all the right things" and still denied their 61 day 3X CLI, just search the forums and you will see. Amex is one of those lenders that takes their time, and rewards their members handsomly when they take their time as well. Use your cards, PIF, maybe once in a while carry a small balance (less than $100), and enjoy the garden. Then, after say 91 or 180 days, click that LUV button again. If it is still a no go, don't get frustrated, just continue doing what you're doing. One thing I have learned in the years that I lurked here before I started contributing, credit doesn't happen overnight.

Well said. Building an excellent profile takes time and patience.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 16:30:19 GMT

@taxi818 wrote:
1 year is not a long time in the credit world. Are you just looking in the short term? the fact you have a 500 cl and 1k cl tells you it was borderline approval to begin with. Just give it more time. IN the end you will see once they start to grow they will continue to grow. you are in same situation as my brother. He got the delta at 1k. 11 months ago. Still no increase. I got mine a year ago 1 month before him and im at 20k already. Just Depends. You are in. It does not cost you anything. What is a little time?

OP, I'm not saying this is/was your situation but a lot of times I see post from people that just want to "get in" with a company. So they apply for a cc that their profile may not support and then are upset when things don't happen the way they want ie low SL, denial and have to recon, or a straight up denial. It can't be said enough patience is paramount when trying to rebuild or build a credit profile. Sometimes all it takes is waiting a few extra months to apply for a card.

You have been given some good advice in your thread. I hope you take it. See you around the forum.

Re: No Lov American Express Considering Closing

Anonymous — Sun, 27 Sep 2015 17:00:07 GMT

I'd run that Ed up over and over, multiple payments. My limit hasn't moved either but I've been favoring discover. If I had used my ED exclusively all summer, I might have popped up myself.

Re: No Lov American Express Considering Closing

NRB525 — Sun, 27 Sep 2015 17:19:07 GMT

@SouthJamaica wrote:
@Anonymous wrote:
A little over a year ago after fixing my credit I was a approved for a amex ED 500CL and BC 1000cl. At the time I was happy just to be in with Amex but after a year I am still stuck on these CL's. During this period all my cards including Discover, BOFA Barclays and Capone have all increased significantly from their initial CL but from some reason I keep getting denied for CLI from Amex stating not enough history, Really how long do need to have these cards. It's come to the point that these cards have the lowest limits next to my Khols 700cl. I am considering just closing these accounts because I refuse to use them and believe me I did use these cards in hopes that they would grow. Now I don't even have these cards in my wallet there just sitting in my drawer. Has anyone has an experiences like this with Amex? Please share, this is really frustrating. FYI my scores are all around 670 UTL 8%
I've had a similar experience with Amex. Got 2 revolving accounts 13 or 14 months ago, have never gotten a CLI request granted. My record has been perfect, both with them and with everyone else.

It appears, though, that they have a robotic response which involves denying any CLI request if a previous CLI request was denied within the previous 91 days, and the 91 days resets with each denial. Dumb policy but I've read that enough times in this forum to think it may indeed be the fact.

I know that people are telling you to utilize the cards plenty, but I've tried that and it didn't make a difference.

So I'm waiting until 91 days passes from my last CLI denial. If they deny me then, then I'm just going to give up on them and largely SD the cards for a long time.

I like to see the datapoints of 61 days, 91 days if a denial, 181 days after the last CLI, just to know what they are, but I'm always uncertain of my ability to count, especially since I don't have insight into how well the CCC can count, so once I think the time period has passed, I sit tight and wait another 2 weeks, or a month, just to be certain I did not miss count

If one tries for 91 days exactly at each CLI request cycle, and is actually at 89 days on each cycle, I could see that as being frustrating

Re: No Lov American Express Considering Closing

Anonymous — Tue, 29 Sep 2015 20:02:37 GMT

icyhot wrote:
I've heard that people initially approved with low limits by Amex have a hard find getting CLIs, I have 2 Amexes and one that barely gets use and has an AF, when they allow me I'm gonna roll the CL over to the one I use. It'll still be a measly $2000, but it's better than 2 $1000 cards :-/

Totally concur. It was my first unsecured card and the gave me $1100. I have never gotten a requested CLI after multiple attempts. I did get an auto-CLI to 1400. I use my card for about 3,000 a month and PIF a couple times. I was approved for the Amex Biz Platinum. Amex has let me run up charges in excess of 30k. So really, it has to do with your initial starting limit. I think they pigeonhole you into an internal credit category that is very difficult to get out of.

Re: No Lov American Express Considering Closing

Anonymous — Tue, 29 Sep 2015 20:34:02 GMT

@Anonymous wrote:
A little over a year ago after fixing my credit I was a approved for a amex ED 500CL and BC 1000cl. At the time I was happy just to be in with Amex but after a year I am still stuck on these CL's. During this period all my cards including Discover, BOFA Barclays and Capone have all increased significantly from their initial CL but from some reason I keep getting denied for CLI from Amex stating not enough history, Really how long do need to have these cards. It's come to the point that these cards have the lowest limits next to my Khols 700cl. I am considering just closing these accounts because I refuse to use them and believe me I did use these cards in hopes that they would grow. Now I don't even have these cards in my wallet there just sitting in my drawer. Has anyone has an experiences like this with Amex? Please share, this is really frustrating. FYI my scores are all around 670 UTL 8%

Give us a glimpse of your profile. What accounts you have and limits? What negatives. What is your current Ex Fico 8 score.

What is your income? As was said before, use your ED card for 20 swipes a month. Every Big Gulp you buy, swipe. Chipotle, swipe. Pair of socks, swipe. Make a payment every week.

On the BCE, swipe ALL your groceries and gas. Pay 2-3 payments a month.

When did you apply for a cli last? 90 days from when you went for a cli last go again on your BCE card but after you have increased the usage and payments.

Your 670 score is borderline. Can you get it around 700? Again this is on Ex. And remember they don't do a pull when you apply for a cli, They use their last soft pull, so wait 30 days after you hit 700 to apply for a cli.

Also after 13 months you can combine limits.