topic Re: Should I hit the luv button? in Credit Cards

Should I hit the luv button?

turninganewleaf — Fri, 12 Oct 2007 14:09:10 GMT

I was approved for the AMEX Delta Gold card with a CL of $1K 9/12/07. I converted to Blue Cash which took effect 10/3. I called AMEX to determine which date I would be eligible for a CLI and was 10/12 (today).

Should I go for a CLI? I was going to go for $5K. My only hesitation is that I'm applying for a home mortgage next month and don't want a hard pull for the CLI? Would it be a hard or soft pull? Would a soft pull hurt me enough that I should wait on a CLI until after loan approval?

Re: Should I hit the luv button?

Anonymous — Fri, 12 Oct 2007 14:18:09 GMT

I wouldn't if I were you. Get a 6 or so months of history behind you first. Whit that EX FICO I'd think your approval for the Delta was likely borderline, asking for a CLI now could very well result in an F/R.

Re: Should I hit the luv button?

IndustrialEngineer88 — Fri, 12 Oct 2007 15:06:26 GMT

yeah i would wait longer because that card is on the easier side to get from amex and for them to give you 1000 CL then it should of been borderline approval so i would wait, but yeah amex doesnt do hard pulls at least not for my amex blue .

Re: Should I hit the luv button?

Anonymous — Fri, 12 Oct 2007 15:53:05 GMT

I would wait too. AMEX did a hard pull on my new cards. I did not see a hard pull for credit line increases. I do see soft pulls every month. I hear this is common for them.

I applied and approved for the Blue and Opt. Platim within days of each other. CL $10K on each.

Best of luck on your house

Nicole

Re: Should I hit the luv button?

turninganewleaf — Fri, 12 Oct 2007 15:55:53 GMT

Ok, I'll wait. I don't really need the CLI for utilization purposes or anything, all of my balances are within 1-9%, I guess I was just looking for a higher reporting CL.

I'll wait about 6 mos or so....

Thanks!

Re: Should I hit the luv button?

John060675 — Fri, 12 Oct 2007 16:00:22 GMT

Well, I am the lone voice on this. I tried and was shot down a couple days ago, but at least I tried. As long as you did not lie on your application, then a FR is not a problem.

Why not go for it:? What is the worst that can happen? They say no, that is it.

Re: Should I hit the luv button?

Anonymous — Fri, 12 Oct 2007 16:22:19 GMT

@John060675 wrote:
As long as you did not lie on your application, then a FR is not a problem.

You apparently have never visited CB. There are a few people that say that didn't lie on the app and were still F/Red and had their accounts either closed or got a massive CLD.

Being honest on an app with AMEX has almost nothing to do with successfully passing an F/R. They don't ask you for pay stubs, they ask you for permission to contact the IRS to view tax return data.

Re: Should I hit the luv button?

VLGaffEsq — Fri, 12 Oct 2007 16:47:06 GMT

If I were you I would wait a couple of months, especially to give yourself time to raise your FICO scores, which may increase your chances of getting a CLI.

Re: Should I hit the luv button?

fused — Fri, 12 Oct 2007 18:50:44 GMT

turninganewleaf wrote:

I was approved for the AMEX Delta Gold card with a CL of $1K 9/12/07. I converted to Blue Cash which took effect 10/3. I called AMEX to determine which date I would be eligible for a CLI and was 10/12 (today).

Should I go for a CLI? I was going to go for $5K. My only hesitation is that I'm applying for a home mortgage next month and don't want a hard pull for the CLI? Would it be a hard or soft pull? Would a soft pull hurt me enough that I should wait on a CLI until after loan approval?

Soft pulls do not affect scores and Amex has never harded me for a CLI.

Re: Should I hit the luv button?

Anonymous — Fri, 12 Oct 2007 20:59:54 GMT

I have had the Amex delta gold for about 45 days, started off with $2000, just got an increase to $6000, available in 15 minutes.

Re: Should I hit the luv button?

Anonymous — Fri, 12 Oct 2007 21:06:22 GMT

@Anonymous wrote:
I have had the Amex delta gold for about 45 days, started off with $2000, just got an increase to $6000, available in 15 minutes.

That's nice. I didn't say that OP wouldn't get the CLI, I simply indicated that it's not worth risking an F/R. If you don't mind getting a Financial Review and having AMEX poke and prod your tax return info then more power to you.

Re: Should I hit the luv button?

Anonymous — Sat, 13 Oct 2007 01:20:19 GMT

turninganewleaf wrote:
I was approved for the AMEX Delta Gold card with a CL of $1K 9/12/07. I converted to Blue Cash which took effect 10/3. I called AMEX to determine which date I would be eligible for a CLI and was 10/12 (today).

Should I go for a CLI? I was going to go for $5K. My only hesitation is that I'm applying for a home mortgage next month and don't want a hard pull for the CLI? Would it be a hard or soft pull? Would a soft pull hurt me enough that I should wait on a CLI until after loan approval?

the bottom line is you are going for a mortg and I wouldn't do ANYTHING w/ my credit except GW's etc until you are prequalified on morg, find a house, close and wait for the check to fund.