topic Re: AMEX CLI Question in Credit Cards

AMEX CLI Question

Isacking97 — Wed, 15 Aug 2018 22:19:46 GMT

Hi guys, I have 2 amex cards, I notice that it already passed 6 months since my last credit increase, One card hast a limit of 1k and the other 15k, In what card do I request the credit increase?

Thanks

15k Amex ED

1k Amex Magnet Card (Was a Blue Cash 2 months ago)

Income (Student): 10k

Scores in description!!

Re: AMEX CLI Question

K-in-Boston — Wed, 15 Aug 2018 22:27:32 GMT

If you ask for the CLI on the Magnet you are limited to asking for $3,000 total. If you want more than a $2k CLI, you would want to ask on the ED. Since you're already at 160% of income, only you can decide what you are comfortable asking them for. If you ask on the ED, you should be able to move some of the limit over to the Magnet if you'd like to posibly grow that by more than $2k.

Re: AMEX CLI Question

Anonymous — Wed, 15 Aug 2018 22:29:22 GMT

With 10k income I wouldn't poke the bear too hard, I would ask 3x on the Magnet.

Re: AMEX CLI Question

Medic981 — Wed, 15 Aug 2018 22:38:58 GMT

@Anonymous wrote:
With 10k income I wouldn't poke the bear too hard, I would ask 3x on the Magnet.

@+1 I am with @Anonymous on this one.

Re: AMEX CLI Question

Caught750 — Wed, 15 Aug 2018 22:40:30 GMT

Agree with the old guy on this

Re: AMEX CLI Question

CreditInspired — Wed, 15 Aug 2018 23:32:53 GMT

My scores and income way higher than yours and when I asked for 3x on $15K, AmX wanted a 4506T. I backed out and requested $33K, same thing. Waited next day and asked for $25K and it was granted.

I agree with others. Don’t poke the bear.

Re: AMEX CLI Question

CreditInspired — Thu, 16 Aug 2018 00:15:45 GMT

Medic981

I love your security freeze quote.

Re: AMEX CLI Question

LunaBuna — Thu, 16 Aug 2018 00:33:13 GMT

What is the minimum payment on a 15K card, if it was maxed out? Can a person with a 10K annual income cover that amount? Not critical of the OP, just alwasy suprised at the limits some banks give persons. Amazed at the lows and the highs. I do not think I will ever come close to figuring out how SL's are determined.

Re: AMEX CLI Question

HeavenOhio — Thu, 16 Aug 2018 01:00:18 GMT

I'd ask for 5K on the ED. If that doesn't work, wait out the 90 days and ask for 3X on the Magnet.

Re: AMEX CLI Question

Shadowfactor — Thu, 16 Aug 2018 01:09:32 GMT

I’m pretty sure the limit is 3X the credit limit on Amex accounts.

Even if Amex would say give him 3X on the magnet, I doubt think there is anyway to get around the 3X limit hardcode for the ED but I could be wrong. I’m basing this off everything I’ve read and personal experience.

I would ask for a CLI on the Magnet card if I were to ask for a CLI at all. Maybe not 3X with that low of an income.
Then reallocate limits as I saw fit.

But you could be poking the bear asking for one at all. 15K is quite a large limit for someone who’s Income is that low. Especially if OP has other credit cards besides Amex

Re: AMEX CLI Question

jdbkiang — Thu, 16 Aug 2018 01:19:26 GMT

You could always ask for a lower than 3X limit on the ED, or move credit from ED to Magnet, then ask for 3x CLI too.

Re: AMEX CLI Question

Anonymous — Thu, 16 Aug 2018 03:30:53 GMT

@Isacking97 wrote:
Hi guys, I have 2 amex cards, I notice that it already passed 6 months since my last credit increase, One card hast a limit of 1k and the other 15k, In what card do I request the credit increase?

Thanks

15k Amex ED
1k Amex Magnet Card (Was a Blue Cash 2 months ago)
Income (Student): 10k

Scores in description!!

I would move 5k to the Magnet card. Then, try a 3x on the ED. Then, move more to the Magnet card if you want. If you want to be more cautius, start by moving 3k to the Magnet card. Then 3x the Magnet card to hopefully end up with 12k on both.

Re: AMEX CLI Question

Shadowfactor — Thu, 16 Aug 2018 04:40:42 GMT

@Anonymous wrote:
@Isacking97 wrote:
Hi guys, I have 2 amex cards, I notice that it already passed 6 months since my last credit increase, One card hast a limit of 1k and the other 15k, In what card do I request the credit increase?

Thanks

15k Amex ED
1k Amex Magnet Card (Was a Blue Cash 2 months ago)
Income (Student): 10k

Scores in description!!
I would move 5k to the Magnet card. Then, try a 3x on the ED. Then, move more to the Magnet card if you want. If you want to be more cautius, start by moving 3k to the Magnet card. Then 3x the Magnet card to hopefully end up with 12k on both.

You cant ask for more then one CLI across ALL amex accounts for each 6 month period if approved.

I also believe that Amex knows when you reallocate CL's across cards and factors that into granting a CLI on a card. There was a thread about this a while ago and I think that Amex keeps track of the cards original limit before reallocation and only grants 3X on the original amount.

OP, you already have 160% of your income extended in credit with one lender. I very much think you got very lucky with the 15K cash magnet but I wouldnt poke the bear. Amex is very generous in giving credit limits but they are also very income based.

Do you really need anything higher then 16K available credit with Amex ? I would just reallocate credit from the Magnet to ED to even them out if I were you.

I know as a student, I was living paycheck to paycheck and maybe spent 500 a month on food, gas, etc. I dont see the point in having that much of a limit when your most likely not spending more then a 1K a month

Re: AMEX CLI Question

Caught750 — Thu, 16 Aug 2018 04:43:26 GMT

I agreed with oldman earlier and left it at that. I also agree with shadowfactor. I have seen DPs that if they like your profile they will grant 3x CLIs on cards with a reallocation but do is that a wise choice? Like many have said, with Amex alone you have more now than you could ever pay, so why ask for more. You risk quite a bit by asking. While Amex is generous (obviously) they aren't careless. They've extended you more credit than most would dream of. If you need to move limits then by all means but I certainly wouldn't ask for more.