topic Re: Amex CLI in Credit Cards

Amex CLI

Anonymous — Sat, 31 Mar 2012 18:36:08 GMT

Just got the SPG and the give me $1000 CL...

However, the offer was spend $5000 in 6 month...with 1K CL..

Plan to use 50% every month and pay off before statement..($0 on statement)

Then ask a CLI of 1K after two month

good or bad?any suggestions?

Re: Amex CLI

crunching_numbers — Sat, 31 Mar 2012 18:40:16 GMT

You can use the card as heavily as you want as long as you pay it off before statement due date. If you are worried about how AMEX will feel about the high charges, make a midmonth payment to reset your balance to zero. Run as much as you want through to get to your $5000.

Re: Amex CLI

Anonymous — Sat, 31 Mar 2012 18:43:20 GMT

@crunching_numbers wrote:
You can use the card as heavily as you want as long as you pay it off before statement due date. If you are worried about how AMEX will feel about the high charges, make a midmonth payment to reset your balance to zero. Run as much as you want through to get to your $5000.

Are you sure a midmonth payment is a good idea...?

I just read something like this..

http://ficoforums.myfico.com/t5/Credit-Cards/FR-AMEX-WHAT-DID-I-DO-WRONG/m-p/1251643/highlight/true#M348667

Re: Amex CLI

h4ldol — Sat, 31 Mar 2012 18:47:40 GMT

You can also request a CLI at 61 days to give yourself some more breathing room.

Re: Amex CLI

jamesdwi — Sat, 31 Mar 2012 18:54:48 GMT

@Anonymous wrote:
@crunching_numbers wrote:
You can use the card as heavily as you want as long as you pay it off before statement due date. If you are worried about how AMEX will feel about the high charges, make a midmonth payment to reset your balance to zero. Run as much as you want through to get to your $5000.
Are you sure a midmonth payment is a good idea...?
I just read something like this..

http://ficoforums.myfico.com/t5/Credit-Cards/FR-AMEX-WHAT-DID-I-DO-WRONG/m-p/1251643/highlight/true#M348667

if you read the full thread you will see that the person basicly triggered the FR by doing every known FR trigger in the book, short credit history, short relationship with AMEX, charging his brothers business expensves on his card in the amount of thousands of dollars each month, doubling his spending each month he had the card far exceeding his income, applied for a lot of extra credit after he got his card. His authorized user (his brother) was using the card more than the user was. and the list went on and on

Re: Amex CLI

bichonmom — Sat, 31 Mar 2012 18:55:01 GMT

@Anonymous wrote:
@crunching_numbers wrote:
You can use the card as heavily as you want as long as you pay it off before statement due date. If you are worried about how AMEX will feel about the high charges, make a midmonth payment to reset your balance to zero. Run as much as you want through to get to your $5000.
Are you sure a midmonth payment is a good idea...?
I just read something like this..

http://ficoforums.myfico.com/t5/Credit-Cards/FR-AMEX-WHAT-DID-I-DO-WRONG/m-p/1251643/highlight/true#M348667

I remember that thread, so I'm intentionally NOT putting thru more than 1 pmt a month. I also read here that some people have trouble pulling a second payment in the same month and have to "push" it from their bank.

They did kind of make it hard to get the rewards, didn't they? You could call and explain that to CSR and see if they might CLI, even to $2k. Otherwise, I'd use it up to the CL and PIF every month. Then 61 days after activation (some say approval date, but YMMV and better safe than sorry), ask for a CLI of 3x your CL. Hopefully you'll get approved. Otherwise, at that point, you've used the card for a couple of months and if you did double-up the payments for a few months to get the rewards, it would probably be okay. You might even ask them about this, so maybe they'll note your acct and then they'll know why you're doing it.

Re: Amex CLI

jamesdwi — Sat, 31 Mar 2012 18:56:15 GMT

@Anonymous wrote:
Just got the SPG and the give me $1000 CL...
However, the offer was spend $5000 in 6 month...with 1K CL..

Plan to use 50% every month and pay off before statement..($0 on statement)
Then ask a CLI of 1K after two month

good or bad?any suggestions?

AMEX has approved CLI of upto 3x the current CL or 25k which ever is less.

Re: Amex CLI

Anonymous — Sat, 31 Mar 2012 19:00:47 GMT

Thanks for the good suggestions guys.

It's just kind of hard to stay low and still spend 5k with 1k limit.

I'll just take it slowly...

Re: Amex CLI

h4ldol — Sat, 31 Mar 2012 19:06:25 GMT

@Anonymous wrote:
Thanks for the good suggestions guys.
It's just kind of hard to stay low and still spend 5k with 1k limit.
I'll just take it slowly...

Request 3x at 61 days to get to $3k. Good chance you'll get it, or if not, they'll probably counteroffer a lower CLI which is better than nothing (and with only a SP typically).

Re: Amex CLI

Anonymous — Sat, 31 Mar 2012 19:37:52 GMT

I make several payments a month for the past 3 years and have never, ever had ANY problems. I had the PRGold & Hilton HHonors to begin with now I have the Zync & BCP.

Re: Amex CLI

Anonymous — Sat, 31 Mar 2012 19:46:55 GMT

@Anonymous wrote:
I make several payments a month for the past 3 years and have never, ever had ANY problems. I had the PRGold & Hilton HHonors to begin with now I have the Zync & BCP.

Re: Amex CLI

Open123 — Sat, 31 Mar 2012 19:51:59 GMT

Mulitple payments (2-3 not 10+) per month per se shouldn't trigger any adverse action.

In most cases, FRs are triggered by a variety of factors including some "randomly" selected people to review, such as the IRS. I think Cashnocredit (?) posited this hypothesis, and from my perspective, it makes lots of sense.

The only possible negative effect is that it appears Amex considers avg payment amount when considering CLIs.

In my estimation, I tihnk it's fine to pay multiple times to meet the spending requirement. For SPG, the 15k points are definitely worth the added effort.

Re: Amex CLI

clocktick — Sun, 01 Apr 2012 04:05:20 GMT

A few months ago I was exploring the Amex site and found somewhere where they actually encouraged making several payments a month. I would spend/pay how you want but have it to 0 when you ask for your CLI.

Re: Amex CLI

Anonymous — Sun, 01 Apr 2012 04:43:22 GMT

@Anonymous wrote:
I make several payments a month for the past 3 years and have never, ever had ANY problems. I had the PRGold & Hilton HHonors to begin with now I have the Zync & BCP.

Thanks for the reference! How long is your AAoA?

I have around 9 month, (SPG not shown on CRA yet) and longest 2.3 years...

Re: Amex CLI

Anonymous — Sun, 01 Apr 2012 04:45:19 GMT

@Open123 wrote:
Mulitple payments (2-3 not 10+) per month per se shouldn't trigger any adverse action.

In most cases, FRs are triggered by a variety of factors including some "randomly" selected people to review, such as the IRS. I think Cashnocredit (?) posited this hypothesis, and from my perspective, it makes lots of sense.

The only possible negative effect is that it appears Amex considers avg payment amount when considering CLIs.

In my estimation, I tihnk it's fine to pay multiple times to meet the spending requirement. For SPG, the 15k points are definitely worth the added effort.

Thanks. What's "Cashnocredit"?

Re: Amex CLI

Open123 — Sun, 01 Apr 2012 06:05:15 GMT

@Anonymous wrote:
@Open123 wrote:
Mulitple payments (2-3 not 10+) per month per se shouldn't trigger any adverse action.

In most cases, FRs are triggered by a variety of factors including some "randomly" selected people to review, such as the IRS. I think Cashnocredit (?) posited this hypothesis, and from my perspective, it makes lots of sense.

The only possible negative effect is that it appears Amex considers avg payment amount when considering CLIs.

In my estimation, I tihnk it's fine to pay multiple times to meet the spending requirement. For SPG, the 15k points are definitely worth the added effort.
Thanks. What's "Cashnocredit"?

Sorry, he's a member of this forum.

Re: Amex CLI

DrJim — Sun, 01 Apr 2012 11:17:13 GMT

I have had my AMEX for two years. I always make 2-4 payments a month. The only response from AMEX has been to raise my CL from $2K to $18K. At the end of July I'll request $25K which is the highest they will do through their automated system.

Re: Amex CLI

LS2982 — Sun, 01 Apr 2012 13:11:23 GMT

@jamesdwi wrote:
@Anonymous wrote:
@crunching_numbers wrote:
You can use the card as heavily as you want as long as you pay it off before statement due date. If you are worried about how AMEX will feel about the high charges, make a midmonth payment to reset your balance to zero. Run as much as you want through to get to your $5000.
Are you sure a midmonth payment is a good idea...?
I just read something like this..

http://ficoforums.myfico.com/t5/Credit-Cards/FR-AMEX-WHAT-DID-I-DO-WRONG/m-p/1251643/highlight/true#M348667
if you read the full thread you will see that the person basicly triggered the FR by doing every known FR trigger in the book, short credit history, short relationship with AMEX, charging his brothers business expensves on his card in the amount of thousands of dollars each month, doubling his spending each month he had the card far exceeding his income, applied for a lot of extra credit after he got his card. His authorized user (his brother) was using the card more than the user was. and the list went on and on