topic Re: My Amex increased my limit but... in Credit Cards

My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 00:40:16 GMT

I have amex blue cash card with $2000 CL

It is opened 6 months ago and I was working hardly for 2 years to increase my credit score.

So I decided to request CLI from Amex next month december, I wanted to request $10,000

Sadly I received today an email from Amex that they automatically increased my credit limit to $5000, now I'm confused: should I request a CLI next month as planned "$10,000"? Does the automatic CLI that they did for me is really the maximum? or they might consider increasing my limit more if I do a manual request?

THANKS

Re: My Amex increased my limit but...

Anonymous — Sun, 21 Nov 2010 00:59:24 GMT

I would take that and wait another 6 months but that is me.

Re: My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 01:03:14 GMT

I will take it... but will there be any negative actions from asking for more next month? or no need bcause they already gave me the maximum ?

Re: My Amex increased my limit but...

Anonymous — Sun, 21 Nov 2010 01:26:20 GMT

They wouldn't have given you $10,000 anyway, because 3x is the maximum CLI if I'm not mistaken.

ere is a 3X Re: My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 01:31:23 GMT

I never heard there is a 3X cap, I just heard that they are generous that they will even give 3X of CL

Also, now my CL is $5000 according to the email I received from AMEX after the auto CLI, so I can ask for 3X = $15,000

Re: ere is a 3X Re: My Amex increased my limit but...

Anonymous — Sun, 21 Nov 2010 02:27:58 GMT

If it we me, I wouldn't press my luck with AmEx. Asking for too much that quickly might trigger a FR.

Re: ere is a 3X Re: My Amex increased my limit but...

mross1080 — Sun, 21 Nov 2010 02:43:20 GMT

@Anonymous wrote:
If it we me, I wouldn't press my luck with AmEx. Asking for too much that quickly might trigger a FR.

Re: My Amex increased my limit but...

smc733 — Sun, 21 Nov 2010 04:27:06 GMT

3x current CL is indeed Amex's CLI cap. They told my brother this when his Blue went from $2k to $6k, they rep told him to wait 6 months to apply to get the $10k he requested.

Re: My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 04:33:10 GMT

Oh well... I guess I will wait

Thank you for the info... I appreciate it.

I think I should be thankful for the $5000 CL and stop dreaming of the $10,000

Re: My Amex increased my limit but...

joestay — Sun, 21 Nov 2010 05:08:30 GMT

Do you need the $10k CL now?

Re: My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 05:19:15 GMT

Need? No

Want? yes

Why? I don't know.

I want to have higher CL, it gives me satisfaction, I was so happy when Kohls increased my CL with 2 minutes phone call from $400 to $1500, it was 3 days ago and still didn't reflect on my CR. "this is why I want to request the Amex CLI next month, so they will see Kohls CLI"

Also I paid a persona loan few days ago, it is with zero balance now and will show up in my CR next month.... if only Amex waited few days

Re: My Amex increased my limit but...

Ron1 — Sun, 21 Nov 2010 05:44:06 GMT

I don't think they will give another CLI after they gave you CLI last month. I heard you can request one CLI every six months. Six months, I only requested $1K CLI for my Costco Amex because I didn't want to trigger F/R.

Ron.

Re: My Amex increased my limit but...

Creditaddict — Sun, 21 Nov 2010 05:59:40 GMT

One CLI every 6 months with Amex and 3x current CL.

Re: My Amex increased my limit but...

larinoriani — Sun, 21 Nov 2010 17:18:34 GMT

@Creditaddict wrote:
One CLI every 6 months with Amex and 3x current CL.

I think they base your increases on your income too. I've read somewhere that usually they try to keep you between 20-25% of your income.

Re: My Amex increased my limit but...

haulingthescoreup — Sun, 21 Nov 2010 17:33:39 GMT

@Raziel77 wrote:
I have amex blue cash card with $2000 CL

It is opened 6 months ago and I was working hardly for 2 years to increase my credit score.

So I decided to request CLI from Amex next month december, I wanted to request $10,000

Sadly I received today an email from Amex that they automatically increased my credit limit to $5000, now I'm confused: should I request a CLI next month as planned "$10,000"? Does the automatic CLI that they did for me is really the maximum? or they might consider increasing my limit more if I do a manual request?

THANKS

Traditionally, AmEx "only" granted CLI's of 3X over the current CL. So if you had requested a CL as you planned in December, the best you could have hoped for would have been $6K. If you had asked for $10K (5X), you might have really stirred up a hornet's nest, and still not gotten your limit.

Try again for $10K in six months. It would have taken you that long anyway.

Re: My Amex increased my limit but...

Anonymous — Sun, 21 Nov 2010 17:34:19 GMT

@larinoriani wrote:

I think they base your increases on your income too. I've read somewhere that usually they try to keep you between 20-25% of your income.

Lots of speculation. That's the problem on this forum. Who knows? Your comment would make sense but is that how it is really handled?

When I got my Amex, I was a graduate student with a small income which I stated truthfully. Now, my CL is at more than half of what my income at the time of application was. About 60%. However, these days I have a full-time job, so technically your comment would be right with regard to my current salary and my CL. However, Amex does not know that I earn more. Thus, their calculation doesn't work that way, does it? And I have a feeling they don't want us to know.

Re: My Amex increased my limit but...

ficonightmare — Sun, 21 Nov 2010 17:47:05 GMT

@larinoriani wrote:

@Creditaddict wrote:
One CLI every 6 months with Amex and 3x current CL.
I think they base your increases on your income too. I've read somewhere that usually they try to keep you between 20-25% of your income.

If they do, they don't do that with everyone.
When my DH got his blue, they gave him about 8% of his income at the time.

Also, unless they verify- I don't think Amex, or any creditor would give a CL based soley on what the applicant states as their income on the app.

Re: My Amex increased my limit but...

joestay — Sun, 21 Nov 2010 18:01:22 GMT

In May, I will ask for another CLI to make it an even $10k CL.

Re: My Amex increased my limit but...

Raziel77 — Sun, 21 Nov 2010 23:56:08 GMT

Can I apply for another Amex card "might get $5000 CL" then combine the new card limit with the old one?

Do Amex still do credit limit transfer??

Re: My Amex increased my limit but...

haulingthescoreup — Mon, 22 Nov 2010 01:19:31 GMT

Since you only have 6 months' worth of history with them, I think there'd be a very good chance that they'd just split your current limit between the two cards.

In other words, you're not necessarily good for an unlimited number of $5K cards. You're good for $5K now, and who knows, maybe another $1K on an additional card, but very possibly not more than that.

I have to say that it kind of seems, on reading, that you've got some personal thing going on here about your credit limit. What on earth is wrong (or insulting, or whatever) about having a $5K limit after only six months? Despite how it might read here sometimes, there's no competition going on for accumulating credit limits. And remember, people can claim anything here they want about what their CL's are, but no one but they know for sure if it's true.

If I'm reading too much into it, I apologize. I would just note that American Express is NOT the bank that you want to be gaming. If you're at $10K in a year, I think that's a pretty sweet deal.