topic Re: Did I just trigger an FR when asking for a CLI????? =( UPDATE!!! in Credit Cards

Did I just trigger an FR when asking for a CLI????? =(

Anonymous — Mon, 13 Mar 2017 15:22:34 GMT

My first 3X increase was approved over a year ago from 6500 to 19500

So after discussing with some members of the forums I tried to go from 19500 to 30000 and this is the message I recieved:

Request a Line of Credit Increase

Your request for a line of credit increase has been submitted.

You will recieve a written response within 7-10 days.

I thought it would let me go back and try lower increments? Am I going to get an FR in the mail? My current MyFico scores are:

Experian - 707 Transunion - 704 and Equafax - 694

Re: Did I just trigger an FR when asking for a CLI????? =(

yfan — Mon, 13 Mar 2017 15:27:11 GMT

I just think it means they are not approving your CLI request, at least not for the full amount.

Re: Did I just trigger an FR when asking for a CLI????? =(

K-in-Boston — Mon, 13 Mar 2017 15:29:11 GMT

I usually get the 7-10 day message when I try a day or two too early. If you triggered a FR, you'd likely see $0 available credit for that card.

Re: Did I just trigger an FR when asking for a CLI????? =(

mongstradamus — Mon, 13 Mar 2017 15:34:14 GMT

I don't recall ever getting FR for asking over 20k with amex, they will request you send in documents if you want the increase, or you can ignore the request and have your CL remain the same. Thats how it was for my EDP at least, was last year when i tested the waters to see if i could get a CLI over 20k

Re: Did I just trigger an FR when asking for a CLI????? =(

Anonymous — Mon, 13 Mar 2017 15:39:22 GMT

But if you dont respond doesnt that mean you will get your card cancelled. Also, I checked my account and I still have my CL avaliable to see. Is this good?

Re: Did I just trigger an FR when asking for a CLI????? =(

Anonymous — Mon, 13 Mar 2017 15:45:18 GMT

Will I make matters worse if I try to call in and find out more info. I am really not feeling good about this. Last thing I need is an FR. I have the paperwork...but I just thought I was good with AMEX...always made payments on time and x3 - x4 over minimum. I only have about 2900/19500 used. Man I wish I could turn back the clock.

Re: Did I just trigger an FR when asking for a CLI????? =(

thummel — Mon, 13 Mar 2017 15:46:43 GMT

Your fine I wouldn't worry about it. The 7-10 day message I have received in the past and it's just a denial from my experience. You would know really quick if Amex was doing an FR. Your most likely either early or they just didn't approve the request for other reasons.

Re: Did I just trigger an FR when asking for a CLI????? =(

Anonymous — Mon, 13 Mar 2017 16:07:12 GMT

If I call the recon line and ask if I could get approved for 25000 instead of 30K would that make matters worse? OR just wait it out.

Please help

Re: Did I just trigger an FR when asking for a CLI????? =(

noobody — Mon, 13 Mar 2017 16:11:56 GMT

Do not call, just let it ride out.

If you afraid of fire, do not play with it.

Re: Did I just trigger an FR when asking for a CLI????? =(

Creditplz — Mon, 13 Mar 2017 16:51:13 GMT

Just wait 7-10 days, no need to poke the bear.

Re: Did I just trigger an FR when asking for a CLI????? =(

HeavenOhio — Mon, 13 Mar 2017 17:07:49 GMT

There was a great post about financial review vs. proof of income about a week ago, but danged if I can find it.

The upshot is that people often get these two things confused. FR is generally triggered by odd behavior, and a customer would have no choice but to submit to it. Asking for a CLI is very unlikely to be considered odd.

POI, on the other hand, is optional. The customer can decide to simply not proceed any further or can try requesting a lower CLI.

If I were in the OP's position, I'd definitely want to know what's going on. But I would think that FR is highly unlikely.

Re: Did I just trigger an FR when asking for a CLI????? =(

austinguy907 — Mon, 13 Mar 2017 17:40:09 GMT

Jesus people.... AMEX isn't that complicated!!!!

7-10 = denial / delayed approval

4506 = you know online and it asks you if you want to do it now or wait for the mailed form

- if you don't respond for a CLI 4506 = no CLI

- if you don't respond for an actual FR = no CC for you

Then there's everyones favorite instant approval

Re: Did I just trigger an FR when asking for a CLI????? =(

K-in-Boston — Mon, 13 Mar 2017 17:50:46 GMT

@HeavenOhio wrote:
There was a great post about financial review vs. proof of income about a week ago, but danged if I can find it.

http://ficoforums.myfico.com/t5/Credit-Cards/AMEX-3X-Credit-Limit-Increase-Question/m-p/4884976

Re: Did I just trigger an FR when asking for a CLI????? =(

HeavenOhio — Mon, 13 Mar 2017 17:56:16 GMT

Thanks, K-in-Boston. That's the post I was looking for.

Re: Did I just trigger an FR when asking for a CLI????? =(

joltdude — Mon, 13 Mar 2017 17:58:26 GMT

I apply this to ANY bank buisness..

When in doubt, dont poke the bear....

http://www.doctorofcredit.com/dont-call-the-bank/

Re: Did I just trigger an FR when asking for a CLI????? =(

Benzman — Tue, 14 Mar 2017 08:18:39 GMT

Re: Did I just trigger an FR when asking for a CLI????? =(

Anonymous — Tue, 14 Mar 2017 12:34:02 GMT

Re: Did I just trigger an FR when asking for a CLI????? =( UPDATE!!!

Anonymous — Mon, 20 Mar 2017 22:55:29 GMT

i have an update after waiting the 7-10 days. Here is the repsonse I got from AMEX:

"We are writing to let you know that, unfortunately, we're unable to approve your request for a credit limit increase at this time for the folliwng reasons(s):

"Your recent payments are too low in relation to the balances on your account"

WHAT!!!!?????

I have made, not just one, but several payments monthy. My average payment is $200 or more a month. My minimum payment is $35 and I have never MISSED a payment. I have been with them for over a year and a half. What the hell gives? My FICO scores are as follows:

Equafax - 699 TransUnion: 707 Experian - 701!!!!!

Should I call the recon line and see if there was a mistake and try for a lower increase? Should I leave it alone? Also, I did NOT get a FR so I am very glad about that.

Let me know what I did wrong??? Thanks.

Re: Did I just trigger an FR when asking for a CLI????? =( UPDATE!!!

CreditCuriosity — Mon, 20 Mar 2017 23:02:51 GMT

@Anonymous wrote:
i have an update after waiting the 7-10 days. Here is the repsonse I got from AMEX:

"We are writing to let you know that, unfortunately, we're unable to approve your request for a credit limit increase at this time for the folliwng reasons(s):

"Your recent payments are too low in relation to the balances on your account"

WHAT!!!!?????

I have made, not just one, but several payments monthy. My average payment is $200 or more a month. My minimum payment is $35 and I have never MISSED a payment. I have been with them for over a year and a half. What the hell gives? My FICO scores are as follows:

Equafax - 699 TransUnion: 707 Experian - 701!!!!!

Should I call the recon line and see if there was a mistake and try for a lower increase? Should I leave it alone? Also, I did NOT get a FR so I am very glad about that.

Let me know what I did wrong??? Thanks.

Let it be and try again after another 3 months... Work on paying down your Amex balance and getting your scores up a bit more and next time you might yield better results. Amex doesn't recon. You must wait 3 months between denied CLI attempts if denied and 6 months between approved one. No middle ground you really have no choice.

Curious what do you owe on that amex card and how long have you been carrying that balance. Also at a 700 Exp score something has to be holding the score down is it old baddies or utilizaton?

Re: Did I just trigger an FR when asking for a CLI????? =( UPDATE!!!

Anonymous — Mon, 20 Mar 2017 23:27:16 GMT

I owe $2900 on my AMEX. My CL is $19500. I have no baddies at all. I think it because my overall UTI is 42% =( I will try again in 3 months and try to pay down my card. Thanks for the information though. I have been carrying that for about a year. But I was at $5000 so I have been paying it down. Its OK, I am just a little down at the moment. Such is life.

OH btw I read myFico socre wrong. My score is 707 not 700, but it probably didn't make a difference. Thanks.