topic Re: AMEX Counteroffer on CLI? in Credit Cards

AMEX Counteroffer on CLI?

TNTransplant — Sun, 22 Jul 2012 15:57:16 GMT

I'll soon be asking for my 61 day CLI, but I'm not sure it will be approved at 3X my current limit as that will push me way beyond any of my current CLs.

Does AMEX typically counteroffer with a lower limit if not approved at the 3X request? Or, should I minimize my risk of denial and ask for a lower CLI (i. e. maybe 2X) which may be more likely to be approved?

Re: AMEX Counteroffer on CLI?

RockinRay — Sun, 22 Jul 2012 16:27:03 GMT

My original line was $10k. At 61 or so days, I tried for $25k and the systejm countered back with $22.2k which is where it sits today. So yes, you should get a counter offer from them.

Re: AMEX Counteroffer on CLI?

LS2982 — Sun, 22 Jul 2012 17:27:30 GMT

Is go for the full 3x, if your not eligible they should counteroffer. Good luck!!

Re: AMEX Counteroffer on CLI?

webhopper — Sun, 22 Jul 2012 20:25:18 GMT

I think 25k is their Max when it comes to CLIs without providing backup data such as financials. So if your 3x increase would put you up above 25k then ask for 25k exactly.

Re: AMEX Counteroffer on CLI?

Mailak — Sun, 22 Jul 2012 20:47:32 GMT

@TNTransplant wrote:
I'll soon be asking for my 61 day CLI, but I'm not sure it will be approved at 3X my current limit as that will push me way beyond any of my current CLs.

Does AMEX typically counteroffer with a lower limit if not approved at the 3X request? Or, should I minimize my risk of denial and ask for a lower CLI (i. e. maybe 2X) which may be more likely to be approved?

I jusked asked for $6k (my CL was $2k). The last time AMEX softed me, my highest non-AMEX CL on my reports was $300 with CapOne. They still approved me for way beyond what they knew my other CLs to be. But, I had everything else in my favor (FICO, income, utilization). So, you should take that into account.

Re: AMEX Counteroffer on CLI?

TNTransplant — Sun, 22 Jul 2012 21:06:18 GMT

@Mailak wrote:
@TNTransplant wrote:
I'll soon be asking for my 61 day CLI, but I'm not sure it will be approved at 3X my current limit as that will push me way beyond any of my current CLs.

Does AMEX typically counteroffer with a lower limit if not approved at the 3X request? Or, should I minimize my risk of denial and ask for a lower CLI (i. e. maybe 2X) which may be more likely to be approved?

I jusked asked for $6k (my CL was $2k). The last time AMEX softed me, my highest non-AMEX CL on my reports was $300 with CapOne. They still approved me for way beyond what they knew my other CLs to be. But, I had everything else in my favor (FICO, income, utilization). So, you should take that into account.

Yes, I'm a little worried about that. Scores are about the same, but overall utilization is right at 30% (still a little better than when I applied). I've got a $1000 balance right now on my BCP, and will pay that down to $0 on 7/27 - I plan to ask for the CLI after it posts to my account. I PIF every month, so hopefully that will be a factor in their decision (been charging about $1500/month on it since I got it 5/21, so we'll see). I also have been using my Green card and PIF, so maybe that will also help.

If they will do a counteroffer I will be more than happy to ask for the full 3X amount. I just don't want to get a decline and not get countered. It seems like I've been reading several posts lately that speak of a decline when asking for a CLI, and there has been no mention of a counteroffer.

Oh well, I'll know in about one week - wish me luck!