topic Re: Amex maximum exposure and 3xCLI in Credit Cards

Amex maximum exposure and 3xCLI

myquestionsfico — Wed, 22 Jan 2020 19:39:00 GMT

I currently have 4 Amex cards:

1. Platinum charge (no limit)

2. Platinum Skymiles - 16.1k limit

3. Everyday - 1k limit

4. Optima - 2.3k limit

Total exposure of 19.4k. I have read that Amex generally will let you have up to 34.5k total exposure across cards before asking for proof of income. Does this still hold true? The 3x CLI thread is a number of years old now. I hit 6 months on Feb 12, so I am hesistant to ask for 3x CLI in fear of getting rejected (or is it better to 3x and they will counter?) or having to provide a bunch financial data, etc. So trying to understand how much to request.

Re: Amex maximum exposure and 3xCLI

CreditCuriosity — Wed, 22 Jan 2020 19:54:37 GMT

@myquestionsfico wrote:
I currently have 4 Amex cards:

1. Platinum charge (no limit)
2. Platinum Skymiles - 16.1k limit
3. Everyday - 1k limit
4. Optima - 2.3k limit

Total exposure of 19.4k. I have read that Amex generally will let you have up to 34.5k total exposure across cards before asking for proof of income. Does this still hold true? The 3x CLI thread is a number of years old now. I hit 6 months on Feb 12, so I am hesistant to ask for 3x CLI in fear of getting rejected (or is it better to 3x and they will counter?) or having to provide a bunch financial data, etc. So trying to understand how much to request.

Congrats on approval... no that isnt true as many of us here are way above 34.5k on a single card or multiple cards without having to provide POI.. That is a myth. Depends on many things such as profile/income/relationship with amex and many other factors. I am >80k with amex and never asked for poi.

Re: Amex maximum exposure and 3xCLI

M_Smart007 — Wed, 22 Jan 2020 19:56:58 GMT

Congrats on your approval!

Re: Amex maximum exposure and 3xCLI

Girlzilla88 — Wed, 22 Jan 2020 19:58:43 GMT

Congrats yes

Re: Amex maximum exposure and 3xCLI

myquestionsfico — Wed, 22 Jan 2020 20:09:49 GMT

Thank you! So I should feel OK with requesting 3x CLI on the 16.1 k card and they will respond with either approval, a counter, denial, or request for POI? I just don’t want to push my luck.

Re: Amex maximum exposure and 3xCLI

CreditCuriosity — Wed, 22 Jan 2020 20:23:46 GMT

@myquestionsfico wrote:
Thank you! So I should feel OK with requesting 3x CLI on the 16.1 k card and they will respond with either approval, a counter, denial, or request for POI? I just don’t want to push my luck.

pretty much although asking for 3x on 16k i would expect a POI request as basically asking for 45k+ that is a big jump in one go around... People that have bigger amex limits usually do it a bit slower, but if you want to do it and get prompted to submit a 4506-t then be ready to do so.. although if you choose not to and are prompted no loss either just means you asked for to much this go around and back it off by say 3-5k until you get no poi request if you want to avoid it and eventually they should approve you assuming profile/income,etc support it

Re: Amex maximum exposure and 3xCLI

myquestionsfico — Wed, 22 Jan 2020 20:29:29 GMT

Thank you - that is exactly what I was hoping eh to understand. I thought I had read from other posts that you could go back a step and ask for less if you get requested for 4506-t, until you get to a limit they will grant without one. If that is the case, I will do that.

Re: Amex maximum exposure and 3xCLI

Anonymous — Wed, 22 Jan 2020 21:52:30 GMT

@myquestionsfico In late October I was at a $30,000 limit on my EveryDay card and requested a CLI to $45,000. I immediately got the request for Form 4506-T; hit the Back button and used decrements of $5,000 until I was automatically approved at $35,000.

One strategy that might work is to reallocate limits from your SkyMiles Platinum card to your other two revolving cards until you're somewhere between $10-12K, then request the 3X CLI. I did the same by reducing my EveryDay limit to $15,000 through reallocation to my Blue Business Plus card then requested a 2X CLI to $30,000.

Re: Amex maximum exposure and 3xCLI

myquestionsfico — Wed, 22 Jan 2020 21:59:45 GMT

That is a fantastic idea - thank you. I will look at possibly reducing the SkyMiles to 11k and look at a 3x CLI to 33. Stays under that 35k number...

Re: Amex maximum exposure and 3xCLI

Anonymous — Wed, 22 Jan 2020 21:59:52 GMT

Interesting strategy, but I thought that reallocations had to be 30 days apart? Thus pushing this scenario 60 days away until CLI on the Delta Plat. In addition, are you not required to wait a certain amount of time after said reallocation be before requesting a CLI?

I though that there were a few instances where people were denied due to a recent CL change.

Re: Amex maximum exposure and 3xCLI

Anonymous — Wed, 22 Jan 2020 22:09:11 GMT

@myquestionsfico wrote:
That is a fantastic idea - thank you. I will look at possibly reducing the SkyMiles to 11k and look at a 3x CLI to 33. Stays under that 35k number...

You don't have to request 3x either. Just request something under 35k.

Re: Amex maximum exposure and 3xCLI

Anonymous — Wed, 22 Jan 2020 22:12:25 GMT

@Anonymous wrote:
Interesting strategy, but I thought that reallocations had to be 30 days apart? Thus pushing this scenario 60 days away until CLI on the Delta Plat. In addition, are you not required to wait a certain amount of time after said reallocation be before requesting a CLI?

I though that there were a few instances where people were denied due to a recent CL change.

I would have to go back to check when I did the reallocation to the BBP but I certainly didn't encounter any delays with the CLI on the EveryDay card.

Re: Amex maximum exposure and 3xCLI

Anonymous — Wed, 22 Jan 2020 22:22:20 GMT

Congratulations!!

Re: Amex maximum exposure and 3xCLI

SouthJamaica — Wed, 22 Jan 2020 22:27:30 GMT

@myquestionsfico wrote:
I currently have 4 Amex cards:

1. Platinum charge (no limit)
2. Platinum Skymiles - 16.1k limit
3. Everyday - 1k limit
4. Optima - 2.3k limit

Total exposure of 19.4k. I have read that Amex generally will let you have up to 34.5k total exposure across cards before asking for proof of income. Does this still hold true? The 3x CLI thread is a number of years old now. I hit 6 months on Feb 12, so I am hesistant to ask for 3x CLI in fear of getting rejected (or is it better to 3x and they will counter?) or having to provide a bunch financial data, etc. So trying to understand how much to request.

No I've had more total exposure than that, without ever having been asked for proof of income.

Re: Amex maximum exposure and 3xCLI

JamP — Thu, 23 Jan 2020 02:28:26 GMT

I have a 50k BCE so I know that's not the maximum exposure.

I just kept on backing out until I didn't get the proof. Usually about 4.5k an increase after 35-38K

I wonder if anyone tries for higher then 50k on one card. I will never use\need that much but it's my first 50k card.

I can ask for an increase anytime I just don't know how safe it is to go above 50k.

Re: Amex maximum exposure and 3xCLI

Anonymous — Thu, 23 Jan 2020 03:43:09 GMT

@Anonymous wrote:
@myquestionsfico In late October I was at a $30,000 limit on my EveryDay card and requested a CLI to $45,000. I immediately got the request for Form 4506-T; hit the Back button and used decrements of $5,000 until I was automatically approved at $35,000.

One strategy that might work is to reallocate limits from your SkyMiles Platinum card to your other two revolving cards until you're somewhere between $10-12K, then request the 3X CLI. I did the same by reducing my EveryDay limit to $15,000 through reallocation to my Blue Business Plus card then requested a 2X CLI to $30,000.

I basically did the same thing. Went for 40K, was asked for 4506-T, and I provided it. A waste of time. Never heard back. So I went and asked for 35K, immediately approved.

Re: Amex maximum exposure and 3xCLI

TheConstant — Thu, 23 Jan 2020 04:31:21 GMT

I have 35k exposure with Amex, 30k of it on one card. Never have been asked for POI.

My relationship with Amex:
- 2 cards, oldest ~4y, newest 10m
- One balance transfer of 5k and PIF
- Ran one card up to 10k and PIF

Re: Amex maximum exposure and 3xCLI

TheConstant — Thu, 23 Jan 2020 04:30:43 GMT

And you can absolutely request for 3x and they'll counter if they want to approve any CLI at all.

Amex is very particular about certain criteria on whether you get a CLI or not

Re: Amex maximum exposure and 3xCLI

myquestionsfico — Thu, 23 Jan 2020 22:23:05 GMT

Awesome - thanks!

Re: Amex maximum exposure and 3xCLI

myquestionsfico — Thu, 23 Jan 2020 22:24:24 GMT

Great advice