topic Re: AMEX Credit Line Increase in Credit Cards

AMEX Credit Line Increase

pacattack81 — Mon, 22 Dec 2008 23:27:17 GMT

I've seen a lot of articles and people posting on forums about AMEX and their credit line decreases for no apparent reason. I thought i would share my experience with AMEX. See below:

Requested a credit line increase through the increase button when you log in online to your account. I have been a member with them since 2005 and have paid in full each month. I have never received an increase from them so i thought id try to request it myself. My prevous limit was $2,000...based on my limits from other cards i decided id request $8,000...you have to enter your income, but they don't do a hard inquiry from your request if anyone is worried about an inquiry. It said it would review my request and get back to me in 7-10 daysd. I was sent a letter in the mail saying my increase was declined due to the fact that i asked for more then 3 times my current limit. I called to ask about my increase request and was told that they could increase my limit to 3 times my credit limit to $6,000. She also noted they did not need to do an inquiry as they periodically to soft pulls on your account just being a member. My last soft pull was in Nov. She also said that it is a good idea to fill out your job info and income in the profile page as this is what AMEX looks at when reviewing your account for any type of increase. My credit scores are also over 700 on all 3 bureaus. Anyways, i hope my experience helps others get an increase too. Maybe AMEX isn't so terrible after all.

Re: AMEX Credit Line Increase

Anonymous — Tue, 23 Dec 2008 00:39:12 GMT

my blue cash original limit was $2400, then they automaticlly rasied it to $15000, then i asked for a credit line increase 6 months ago to $25k with the LUV button. Gave it to me automaticlly. I carried a balance of $8000 for 4 months, and then payed it off. Love the low interest rate 5.99% I think the highest credit limit is $50K, which i'll be requesting next week. They have soft inq me 20 times in the last 2 months. Wonder whats up AMEX?

Re: AMEX Credit Line Increase

Zar — Tue, 23 Dec 2008 01:02:58 GMT

Hi Robby,

Did they increase it automatically without any request (online or by phone) from you? After how long of getting the card this increase happened? Did you use heavily the card before the automatic increase?

OP and Robby congrats on such nice increases! And thanks for the information!

Zar

Message Edited by Zar on 12-22-2008 05:02 PM

Re: AMEX Credit Line Increase

SonorityGenius — Tue, 23 Dec 2008 12:00:22 GMT

I got the AMex Blue Cash in 2005 as well starting CL of 5k, I asked for CLI after a full year and instantly got 15k, finally in 2007 I pressed again and got 25k, and this year in september got 30k So I am a happy camper with Amex!

Re: AMEX Credit Line Increase

Anonymous — Tue, 23 Dec 2008 15:17:45 GMT

Account opened in Feb 2004. increased automaticly in 2006 from $2400 to $15,000. First year i charged about $8000 on the card, every year after that has been increasing, love the cash back 5% on most purchases. In Feburary 2008 i tripled my income and requested a credit line increase. This year i charged about $25K on it. I have been paying in full on all my accounts since October 2008. While everyone is hating on AMEX, i'm okay with them. I'm currently using <1% of my total available credit. Credit scores are 774 755 and 778. I need a mortgage and an auto loan to boost my mix of credit score to 800! Currently i have 10 revolving lines of credit, and 2 student loans.

Re: AMEX Credit Line Increase

haulingthescoreup — Tue, 23 Dec 2008 16:47:00 GMT

Congrats to all the above posters!

I just want to mention for any readers on this thread who are new to the forums, there were tested ways of getting frequent and generous CLI's from American Express that worked up through summer 2008 --asking for 3X the current limit, certain timing, and so forth. But as the economy started tanking, many of these have changed. So even if you're confident that you won't create a problem with AmEx by trying these (and this has happened), you shouldn't necessarily expect that these success stories will hold true right now. And I especially wouldn't try this if you've been with them for under a year or two.

If anyone is hoping to get CLI's on their American Express cards, other than by patiently waiting, I would strongly advise reading the many, many recent threads on this subject. Even when you set aside the emotion, I think you'll see that the rules have changed. What many cardholders have seen is that even with great scores and perfect history, their credit limits are being decreased, not increased, because AmEx (and other banks) are having to reduce the amount of extended credit on their books, and so if someone isn't routinely using a large part of their available credit, it's being reduced.

Just a heads-up, and again, congrats to those who have worked their cards well.

edited to change a rather crucial "would" to "wouldn't"!

Message Edited by haulingthescoreup on 12-23-2008 08:47 AM

Re: AMEX Credit Line Increase

MidnightVoice — Tue, 23 Dec 2008 16:34:47 GMT

@haulingthescoreup wrote:

I just want to mention for any readers on this thread who are new to the forums, there were tested ways of getting frequent and generous CLI's from American Express that worked up through summer 2008 --asking for 3X the current limit, certain timing, and so forth. But as the economy started tanking, many of these have changed. So even if you're confident that you won't create a problem with AmEx by trying these (and this has happened), you shouldn't necessarily expect that these success stories will hold true right now. And I especially would try this if you've been with them for under a year or two.

If anyone is hoping to get CLI's on their American Express cards, other than by patiently waiting, I would strongly advise reading the many, many recent threads on this subject. Even when you set aside the emotion, I think you'll see that the rules have changed. What many cardholders have seen is that even with great scores and perfect history, their credit limits are being decreased, not increased, because AmEx (and other banks) are having to reduce the amount of extended credit on their books, and so if someone isn't routinely using a large part of their available credit, it's being reduced.

Just a heads-up, and again, congrats to those who have worked their cards well.

I totally and absolutely agree. I got a nice increase (I asked for it as my EX score had gone up 50 points 3 days after I got the card ) after 6 months, but I am now going to do NOTHING to possibly confuse, surprise or upset Amex, as they are terribly overexposed in the CC market and looking for ways to reduce that exposure (both in real terms and accounting terms). The card is now into its second year

So I will keep all those nice, point earning automatic payments going, pushing through less than 10% of my CL every month and piffing every month. I will use the points for B&N gift cards for Xmas presents every year. I will be using other cards for major purchases, and concentrate on being unobtrusive to Amex, until I have a few good years under my belt and the economy has improved. And I am also waiting until Amex decides what sort of CCC it wants to be, and settles on a new set of "rules" on how to behave without getting an AA.

I had reasons for getting and Amex (and wrote a thread about it), I knew what I was getting into with Amex, and I got one years before I knew I would really want to have it, so I could build up a solid relationship. I understated my income and always will with Amex. You know the sort of thing - the old fashioned way of building up a good credit history - honesty and regular payments.

Re: AMEX Credit Line Increase

MidnightVoice — Tue, 23 Dec 2008 17:59:06 GMT

PS. Since getting the card they have only softed me 3 times, and that includes a requested CLI.

Re: AMEX Credit Line Increase

Anonymous — Tue, 23 Dec 2008 22:17:08 GMT

AMEX ACCOUNT REVIEW December 18, 2008, December 11, 2008, and every 7 days up until September.