topic Re: Zero love from Amex for 5 years in Credit Cards

Zero love from Amex for 5 years

Mayn — Wed, 26 May 2021 01:48:35 GMT

Hello all, I really need some advice. I have a Amex BCP that I've had for 5 years, never missed a single payment BUT I have carried a balance on it for long periods of time. I have yet to receive and increase from the original $1000 which is very small compared to other cards I have. Scores are lower 7's across the board. Any help would be appreciated cause I'm bout to downgrade cause $1000 is just about worthless to me. Thanks for your input.

I did call a couple days ago and they said they'd do a manual review.

Re: Zero love from Amex for 5 years

Ficoproblems247 — Wed, 26 May 2021 01:58:52 GMT

The only thing I can gather from this is that AMEX prefers transactors over revolvers. They seem to like it best when you PIF every month. Maybe in carrying the balance for an extended period of time the algorithms decided to keep

you on a short leash that has not had the slack lengthened just yet. Have you since paid the balance in full on this card? If so, how long ago?

Re: Zero love from Amex for 5 years

Mayn — Wed, 26 May 2021 02:06:11 GMT

@Ficoproblems247yes, the balance is currently zero and has been for 2 billing cycles I believe, maybe a bit longer. It's been paid off several times in the past too but I did carry balances on it for lengthy periods. I was kinda thinking that may be the reason. Maybe I should use the heck out of it at the grocery and pay it off every time for a few months?

Re: Zero love from Amex for 5 years

Jordan23ww — Wed, 26 May 2021 02:07:20 GMT

I think it could be carrying balances that is holding you back. I've found Amex to be more willing to increase limits when you pay in full.

Re: Zero love from Amex for 5 years

Jordan23ww — Wed, 26 May 2021 02:08:56 GMT

@Mayn wrote:
@Ficoproblems247yes, the balance is currently zero and has been for 2 billing cycles I believe, maybe a bit longer. It's been paid off several times in the past too but I did carry balances on it for lengthy periods. I was kinda thinking that may be the reason. Maybe I should use the heck out of it at the grocery and pay it off every time for a few months?

This sounds like a great plan! Best wishes to you the next time you request a limit increase!

Re: Zero love from Amex for 5 years

FinStar — Wed, 26 May 2021 02:10:40 GMT

You mentioned that your scores were in the low 700's. What's keeping them down? Are there any current or past negatives on your CRs? Is this the only card you've been carrying balances for a prolonged period?

Re: Zero love from Amex for 5 years

Ficoproblems247 — Wed, 26 May 2021 02:12:52 GMT

@Mayn wrote:
@Ficoproblems247yes, the balance is currently zero and has been for 2 billing cycles I believe, maybe a bit longer. It's been paid off several times in the past too but I did carry balances on it for lengthy periods. I was kinda thinking that may be the reason. Maybe I should use the heck out of it at the grocery and pay it off every time for a few months?

That may be a good idea, but AMEX really isn't one to hold you to spending a large portion of your CL each month. They just want you to get your swipes in and PIF. As long as you're using their cards rather consistently that seems to keep them happy. I'd hold out and see what the manual review yields. Even if it's not an immediate "Yes," AMEX CSRs can usually be fairly candid in giving you the reasons for their decisions, so at least you would have an idea of what they're looking for at that point. Keep us posted on what they say after the manual review, too. Those are always good DPs to have. Good luck on getting that thing to grow! 5 years is a long time to hang out in 1k purgatory.

Re: Zero love from Amex for 5 years

Mayn — Wed, 26 May 2021 02:18:23 GMT

@FinStar @Well I took a little hit paying off my car and I have a paid collection on my report as well. I also have a decent balance that reported on 1 of my cards (about 60%).

Re: Zero love from Amex for 5 years

babygirl1256 — Wed, 26 May 2021 07:21:47 GMT

@Mayn Are there any adverse items on your report? I experienced the same thing with Chase and just now thought about perhaps I never received an auto CLI was due to my BoA $429.00 charge-off that was reflecting on Experian. I am grateful that EX deleted the adverse item on 5/15/2021 . . . my file is 100% clean . . . so now my EX score increased by 78 points.

Re: Zero love from Amex for 5 years

Ficoproblems247 — Wed, 26 May 2021 10:53:37 GMT

@Mayn wrote:
@FinStar @Well I took a little hit paying off my car and I have a paid collection on my report as well. I also have a decent balance that reported on 1 of my cards (about 60%).

I would venture a guess that it's the CO that is holding you back the most. Util may certainly be compounding things, but if your util has been back and forth yet your efforts still to no avail, it's probably that derog. AMEX is known to hold people to 1k limits with COs still reporting on their CRs; we see DPs from that quite often. In my own situation, I was denied a CLI on my Delta Gold (it was at 1k at the time) until my one and only CO fell off of my reports. After that, they completely opened the flood gates for me. They don't seem to mind old late payments, however they have an issue with COs.

Re: Zero love from Amex for 5 years

K-in-Boston — Wed, 26 May 2021 13:15:33 GMT

@Ficoproblems247 wrote:
@Mayn wrote:
@FinStar @Well I took a little hit paying off my car and I have a paid collection on my report as well. I also have a decent balance that reported on 1 of my cards (about 60%).
I would venture a guess that it's the CO that is holding you back the most. Util may certainly be compounding things, but if your util has been back and forth yet your efforts still to no avail, it's probably that derog. AMEX is known to hold people to 1k limits with COs still reporting on their CRs; we see DPs from that quite often. In my own situation, I was denied a CLI on my Delta Gold (it was at 1k at the time) until my one and only CO fell off of my reports. After that, they completely opened the flood gates for me. They don't seem to mind old late payments, however they have an issue with COs.

Yes, it's definitely the CO.

Re: Zero love from Amex for 5 years

Anonymous — Thu, 27 May 2021 00:37:53 GMT

@Mayn wrote:

Hello all, I really need some advice. I have a Amex BCP that I've had for 5 years, never missed a single payment BUT I have carried a balance on it for long periods of time. I have yet to receive and increase from the original $1000 which is very small compared to other cards I have. Scores are lower 7's across the board. Any help would be appreciated cause I'm bout to downgrade cause $1000 is just about worthless to me. Thanks for your input.

I did call a couple days ago and they said they'd do a manual review.

Usually those like myself that get a $1000 starting limit will not get much love from AMEX. I'm actually thinking of closing mine because I have never gotten an increase in the past 2 years I have had this card. It's pretty much worthless for me.

Re: Zero love from Amex for 5 years

Mayn — Fri, 28 May 2021 23:17:56 GMT

Well, they increased my limit but only by $1000. Better than nothing I suppose. It's a start

Re: Zero love from Amex for 5 years

FinStar — Fri, 28 May 2021 23:52:44 GMT

Thanks for the update and congrats on the CLI @Mayn. Sounds like the manual review was worth it. Locking this thread as you have been approved.