topic Re: Amex rules for CLI (have they changed recently?) in Credit Cards

Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 13:56:02 GMT

I am getting ready to request a CLI on one of my Amex credit cards.

One is at $34,500

2nd is at $9,000

I am planning on requesting a CLI on the 2nd to 3x (27k) and see what happens.

However, I wanted to know if doing this will trigger possibly income verification or Financial review, to be prepared.

I understand YMMV, however, what are the data points you guys know point towards?

I guess I am trying to ask if in my situation, having 2 cards under 35k won't be causing me more work than it is worth.

I am trying to increase my limits on a schedule.

Thank you for any insights on this particular scenario and the rules.

Re: Amex rules for CLI (have they changed recently?)

SouthJamaica — Tue, 19 Sep 2023 14:24:14 GMT

@Superduper2014 wrote:
I am getting ready to request a CLI on one of my Amex credit cards.
One is at $34,500
2nd is at $9,000

I am planning on requesting a CLI on the 2nd to 3x (27k) and see what happens.

However, I wanted to know if doing this will trigger possibly income verification or Financial review, to be prepared.

I understand YMMV, however, what are the data points you guys know point towards?
I guess I am trying to ask if in my situation, having 2 cards under 35k won't be causing me more work than it is worth.
I am trying to increase my limits on a schedule.

Thank you for any insights on this particular scenario and the rules.

1. I don't think the old rules (91 days from denial, 181 days from approval) apply any more, because there have been too many reports here of quicker approvals.

2. No one can say for sure, but I think asking for the 18k CLI on the 9k card will probably not lead to an income verification request. (Income verification requests are much more common than actual "financial reviews").

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 14:31:40 GMT

thank you @SouthJamaica you are always helping out!

You read my mind, I was thinking about maybe just doing 2x on that card to be more "conservative" in my request.

If you feel that may be the to go, in order to avoid following up with them etc. I will do that. Although, hate to leave potential credit line increase on the table lol.

Re: Amex rules for CLI (have they changed recently?)

Brian_Earl_Spilner — Tue, 19 Sep 2023 14:32:11 GMT

If it asks for income verification simply back out and lower the number until it doesn't.

Re: Amex rules for CLI (have they changed recently?)

SouthJamaica — Tue, 19 Sep 2023 14:34:18 GMT

@Superduper2014 wrote:
thank you @SouthJamaica you are always helping out!

You read my mind, I was thinking about maybe just doing 2x on that card to be more "conservative" in my request.
If you feel that may be the to go, in order to avoid following up with them etc. I will do that. Although, hate to leave potential credit line increase on the table lol.

Be sure to let us know how it turns out

Re: Amex rules for CLI (have they changed recently?)

Priory_Man — Tue, 19 Sep 2023 14:37:20 GMT

This thread https://ficoforums.myfico.com/t5/Credit-Card-Applications/AMEX-3x-CLI/td-p/6707825 is very similar to what you have asked. It should not trigger an IV of FR. I myself have an accumulation of above 35k on my cards and have not had to prove income.

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 14:47:04 GMT

@Brian_Earl_Spilner Oh gotcha.. good tip. So before submitting the page loads all the pertinent disclaimers based on the amounts for you to see? That is just gold.

I just wonder if it is considering just the account you are requesting the CLI or the other card sitting just under 35k as well.

I will try this shortly. Thank you

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 15:18:29 GMT

UPDATE:

So,

I did get request for 34,500 to test if I could then back out.

I was followed with a screen that asked for three most rescent bank statements.

There was an exit button, but instead I did the browser back button

Then I tested 27k (hoping you could test again)

this time I got:

"We are currently reviewing your previously submitted Credit Limit increase request and you are unable to submit an additional request at this time."

Whatever I did, it is done, so now I can only ask, is a review of the 34500 or the 27k since I did the back button instead of the exit button?

I am sure there is a difference and I should have used the exit one to reset the request instead browsing back.

They emailed me: Need to provide bank statements by Oct 3rd or they will close the request.

Oh well..

Should I try again on Oct 4th? and use the "exit" button this time and obviously only 2x ?

bummer.

Re: Amex rules for CLI (have they changed recently?)

Jeffster1 — Tue, 19 Sep 2023 15:18:15 GMT

FYI for anybody from whom Amex is requesting income verification:

If they ask for a 4506-C, make sure you affix a wet signature. The form will be kicked back otherwise. They don't tell you that in the instructions.

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 15:19:26 GMT

So this doesn't get burried:

They emailed me: Need to provide bank statements by Oct 3rd or they will close the request.

Oh well..

Should I try again on Oct 4th? and use the "exit" button this time and obviously only 2x ?

bummer.

Re: Amex rules for CLI (have they changed recently?)

Priory_Man — Tue, 19 Sep 2023 15:47:47 GMT

You should have used the exit button.
Once the request is closed submit again, so if they close it on the 3rd then as you have stated the 4th will be the soonest you can try again.

Is it for personal reasons you are not wanting to share your income with Amex in order to get the increase you wanted? Reason I ask is because once provided you can go beyond the 35k trigger amount and they may even offer you a bigger increase than you are asking for.

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Tue, 19 Sep 2023 15:55:41 GMT

thanks @Priory_Man Thinking about it, I will probably just send them the last 3 bank statements they ask for, if that could help with getting even bigger increases.

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Thu, 05 Oct 2023 20:04:50 GMT

UPDATE: I requested a CLI again after they closed the previous unsuccesful CLI request.

I did it for just 50% more and got the boot.

We are currently reviewing your previously submitted Credit Limit increase request and you are unable to submit an additional request at this time.

My other card is $26500 and this one is $8500 ( I asked for 13k)

Oh well.

When should I try again, or does this mean I reached a ceiling with them for my income? My credit has never been better before.

Re: Amex rules for CLI (have they changed recently?)

Superduper2014 — Thu, 05 Oct 2023 20:07:02 GMT

ok I received an email again:

Here’s something to keep in mind

You’ll need to provide us this information by October 19, 2023. If we don’t receive it by then, we may close your request.

Re: Amex rules for CLI (have they changed recently?)

1LostArk — Thu, 05 Oct 2023 21:34:27 GMT

@Priory_Man wrote:
You should have used the exit button.
Once the request is closed submit again, so if they close it on the 3rd then as you have stated the 4th will be the soonest you can try again.
Is it for personal reasons you are not wanting to share your income with Amex in order to get the increase you wanted? Reason I ask is because once provided you can go beyond the 35k trigger amount and they may even offer you a bigger increase than you are asking for.

Does the 35k trigger amount apply to all cards, business and personal? Or is it just for personal? Reason being I have $35k across all my Amex cards, but could use a CLI on my BBP.

Re: Amex rules for CLI (have they changed recently?)

youngandcreditwrthy — Fri, 06 Oct 2023 16:05:19 GMT

@Superduper2014 wrote:
I am getting ready to request a CLI on one of my Amex credit cards.
One is at $34,500
2nd is at $9,000

I am planning on requesting a CLI on the 2nd to 3x (27k) and see what happens.

However, I wanted to know if doing this will trigger possibly income verification or Financial review, to be prepared.

I understand YMMV, however, what are the data points you guys know point towards?
I guess I am trying to ask if in my situation, having 2 cards under 35k won't be causing me more work than it is worth.
I am trying to increase my limits on a schedule.

Thank you for any insights on this particular scenario and the rules.

imo it seems like you're doing quite well with them. have had amex for over a decade now and had to fight once or twice to get my 20K+ limits back once. I wouldn't f*** with them, you might find out and waste time. At the end of the day, if you have the time (ie money ) to waste.. on a financial review then go ahead.. otherwise, might be better to STAY ahead lol. just my .02. amex soft pulls me like crazy and idk why. they even FR[ed me and tried to CLD me when I was paying balances in full on my BCE. I think I'm at 36k exposure. the old 35k exposure rule def doesnt apply anymore. inflation has turned 35k t 70k over the last decade.

Re: Amex rules for CLI (have they changed recently?)

youngandcreditwrthy — Fri, 06 Oct 2023 16:06:16 GMT

@Brian_Earl_Spilner wrote:
If it asks for income verification simply back out and lower the number until it doesn't.

i dunnno dude this is risky. they can literally see all your online account activity. I've seen what it looks like on the backend. its scary and strange.