topic Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously? in Credit Cards

Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

andyaycw — Tue, 28 Feb 2017 07:23:23 GMT

As of Feb 17th, my Amex Clear was still at a nice $20k credit limit. Tonight, I decided to apply for the Amex BCE and was instantly approved for $25k. Log back into my account and happen to notice that they apparently CLD'd my Clear account down to $10.2k.

Interesting that they would take away $10k, yet give me $25k on a brand new account. Not sure what could have triggered the CLD either as I can't think of anything that would have hinted at any increase in risk. I've been a member with Amex for 10 years now, originally had the Amex Blue Sky, and through a few card conversions I've had the Amex Clear for the past several years. All 3 FICO scores above 800, 0 credit inquiries in prior 12 months, newest account was established 15 months ago, 1% util, <$500 credit card balances reporting, and all around low risk credit profile.

The CLD is of no consequence to me. I only charge maybe $100 every month or so to the card, so the new lower CL of $10k is still much more than I need and I have plenty of other available credit...9 other cards with credit lines totaling around $170k or so. Perhaps Amex didn't like the risk of having $20k extended to someone who only charged $100 per month haha

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

rmduhon — Tue, 28 Feb 2017 07:38:58 GMT

Maybe they moved the 10k to the new Amex card? I don't know if they do that, but it's a thought.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

austinguy907 — Tue, 28 Feb 2017 08:45:26 GMT

You're hitting the internal limit for AMEX before they ask for a 4506. The internal cap allegedly is $34.5K across a single customer. If you decide to push forward with a CLI on either of them I would expect to see them prompt for the form and review. It's painless and takes 3-5 business days when you do it online. Hey a $25K approval though is a big thing even though they stole from Peter to pay Paul a little bit.

If it were me I would probably roll the Clear down to $5K or so and put the rest to good use over on the BCE. If you're going to push the limit up it gives you more to work with on the 4506. Doesn't sound like you will but, limiting your exposure on the Clear might be a good idea either way if you're not actively watching it.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

Chris679 — Tue, 28 Feb 2017 11:03:23 GMT

Yes they moved the 10k to the new card. Did the exact same thing for me when I opened Delta. I thought I would just close Delta before the AF and move the 10k back but no dice. You have to have the account open 13 months to move the CL from an account.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

AverageJoesCredit — Tue, 28 Feb 2017 13:24:13 GMT

Yes, sounds like they moved limits. Great approval though. Ive never heard of the Amex Clear, what exactly is it? Thanks

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

Anonymous — Tue, 28 Feb 2017 14:39:49 GMT

I know it's a DC'd card. I have one that I got in 2008, one of my first cards and also my first Amex card. I have a nice 4K line on it @13.49 interest. It has some kind of rewards program that I never used. It's pretty much SD for me now.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

mdd0214 — Tue, 28 Feb 2017 23:46:54 GMT

@austinguy907 wrote:
You're hitting the internal limit for AMEX before they ask for a 4506. The internal cap allegedly is $34.5K across a single customer. If you decide to push forward with a CLI on either of them I would expect to see them prompt for the form and review. It's painless and takes 3-5 business days when you do it online. Hey a $25K approval though is a big thing even though they stole from Peter to pay Paul a little bit.

If it were me I would probably roll the Clear down to $5K or so and put the rest to good use over on the BCE. If you're going to push the limit up it gives you more to work with on the 4506. Doesn't sound like you will but, limiting your exposure on the Clear might be a good idea either way if you're not actively watching it.

I've seen that $34.5k number floated around for a single account, though there is plenty of evidence that they offer higher limits for the right profile. I have $60k between 3 credit cards and a few charge cards with them, so it's definitely not $34.5k standard. That said it does appear that they moved some limit over for the OP, probably with the hope of enticing him to use that new card more frequently.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

austinguy907 — Thu, 02 Mar 2017 01:21:45 GMT

@mdd0214 wrote:
I've seen that $34.5k number floated around for a single account, though there is plenty of evidence that they offer higher limits for the right profile. I have $60k between 3 credit cards and a few charge cards with them, so it's definitely not $34.5k standard. That said it does appear that they moved some limit over for the OP, probably with the hope of enticing him to use that new card more frequently.

Anecdotally this isn't a one size fits all number. Typically those with accounts 2-3 years old or longer have a chance to bypass the 4506 situation like yourself MDD. I've seen mostly newer accounts trying to breach $35K across all accounts hitting the request prompt. With a longer use/payment history they evaluate things differently because they have personal history to draw off of. Similar to when you're using your NPSL cards the computers evaluate each purchase for approval or not. Base off your history they determine whether you're running it up or it's just a one off. Most everything here is a "guideline" and obviously not a hard rule of thumb. It's based on the posts and data points we see here.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

willwar14 — Thu, 02 Mar 2017 04:37:03 GMT

With you saying accounts (I'm assuming that people that have 2-3+ years history with amex), this has not been my families experiance with American Express, my father for example had $65k (plus charge cards) of exposure before he reached a year or history with them, and never provided any kind of POI or tax returns. And me for example, I have $57k (plus charge cards) of exposure and I also have a relatively thin profile, and I had that exposure just before I reached a year of history. I honestly do believe it varies based on your profile, how much you spend on American Express and what not.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

Anonymous — Fri, 03 Mar 2017 06:11:16 GMT

I opened a BCE with a $10k limit in September and a business card at $18.1k in December. When I asked for the first CLI on the BCE to $20k towards the end of January they asked for a 4506t, but I went back and asked for $15k and was instantly approved. I should try asking for a $1401 CLI every 6 months.

And I appologize in advance for not participating in the day 61 3X CLI craze.

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

Anonymous — Fri, 03 Mar 2017 06:27:38 GMT

@andyaycw wrote:
As of Feb 17th, my Amex Clear was still at a nice $20k credit limit. Tonight, I decided to apply for the Amex BCE and was instantly approved for $25k. Log back into my account and happen to notice that they apparently CLD'd my Clear account down to $10.2k.

Interesting that they would take away $10k, yet give me $25k on a brand new account. Not sure what could have triggered the CLD either as I can't think of anything that would have hinted at any increase in risk. I've been a member with Amex for 10 years now, originally had the Amex Blue Sky, and through a few card conversions I've had the Amex Clear for the past several years. All 3 FICO scores above 800, 0 credit inquiries in prior 12 months, newest account was established 15 months ago, 1% util, <$500 credit card balances reporting, and all around low risk credit profile.

The CLD is of no consequence to me. I only charge maybe $100 every month or so to the card, so the new lower CL of $10k is still much more than I need and I have plenty of other available credit...9 other cards with credit lines totaling around $170k or so. Perhaps Amex didn't like the risk of having $20k extended to someone who only charged $100 per month haha

Interesting, it is not a normal AA so why no ask for consent before moving CL? (pretty sure 25K is not the minimal CL they can hand out for that card so they were not forced to move it either)

Re: Amex Clear CLD, new Amex BCE approval, seemingly simultaneously?

andyaycw — Sun, 12 Mar 2017 18:17:53 GMT

Update! Got a letter in the mail stating they reallocated the limits based on the spending patterns. So it sounds like exactly what others have mentioned - they knew I wouldn't mind the lower $10k limit, and gave me $25k on the new BCE to encourage higher spending.

A few snippets of the language from the letter:

"We're please to inform you that your application for the BCE has been approved...you'll receive the card in 7-10 days...along with information about your credit limit"
"In determining your credit limit, we factored all accounts you currently have with us, including your past spending on these accounts"
"We noticed you also have the Clear with us and have transferred some of the credit limit to your new BCE to ensure your new card meets your needs"

Pretty smart if you ask me