topic Re: Maxed Cards 5+ Years then PIF in Credit Cards

Maxed Cards 5+ Years then PIF

Anonymous — Wed, 04 Jul 2018 03:24:54 GMT

I have 2 Amex ($10k limit on each) that have been maxed for years until recently. Both PIF at the same time. Trying to rebuild Amex profile and establish good spend patterns unlike the past.

How long should I wait before requesting CLI?

Re: Maxed Cards 5+ Years then PIF

HeavenOhio — Wed, 04 Jul 2018 03:41:10 GMT

Welcome, @Anonymous.

This is a pretty big shock to AMEX's system. You've carried huge balances for five years and paid them off suddenly. Before asking them to give you more, I'd establish PIF behavior for a year. Once the grace period resets and you're not paying interest, give the cards regular usage and PIF each month. You don't have to charge a lot, but it probably wouldn't hurt to shuffle some of your regular spending over to those cards at least now and then.

Re: Maxed Cards 5+ Years then PIF

grower1 — Wed, 04 Jul 2018 04:35:32 GMT

Great job paying the balances. How much did your scores shoot up from the reduction of utilization?

Re: Maxed Cards 5+ Years then PIF

Anonymous — Wed, 04 Jul 2018 14:39:39 GMT

Thanks for the advice @HeavenOhio

Still waiting for the next statement @grower1 - simulators telling me it’ll be 70 or so points.

Re: Maxed Cards 5+ Years then PIF

UncleB — Wed, 04 Jul 2018 18:12:48 GMT

Time is your friend in this situation. Also, paying off a large balance in combination with your (likely) score increase will very likely prompt Amex to give you an auto-CLI (depending on your overall profile, of course).

In any case, I wouldn't pursue requesting an increase until you're certain the balance has updated on all the bureaus and Amex has your new (hopefully improved) score.

Also, keep in mind that with Amex, you can only request a CLI on one card per six months (three months if the CLI is declined), so choose wisely.

Re: Maxed Cards 5+ Years then PIF

Anonymous — Wed, 04 Jul 2018 19:58:33 GMT

Wow that’s interesting, I would not have expected an auto CLI. Thanks for the input.

Re: Maxed Cards 5+ Years then PIF

UncleB — Wed, 04 Jul 2018 20:53:12 GMT

@Anonymous wrote:
Wow that’s interesting, I would not have expected an auto CLI. Thanks for the input.

They aren't as common with Amex as with some issuers, but I've received two on my BCP after significant usage and PIF.

Re: Maxed Cards 5+ Years then PIF

goal_digger — Thu, 05 Jul 2018 02:04:05 GMT

I received two auto CLIs with high utilization. I’m guessing it’s because I was both making substantial payments but also still using the card. I’m thinking they wanted me to spend more so I could pay more interest... lol

Re: Maxed Cards 5+ Years then PIF

Anonymous — Thu, 05 Jul 2018 02:59:17 GMT

I agree that you should probably build a new PIF relationship with them for a bit, just to show them it isn't a one time thing just to get a CLI.