topic Re: Typical CLI from AMEX in Credit Cards

Typical CLI from AMEX

CreditPacMan — Tue, 03 Jul 2012 14:45:59 GMT

I'll hit my 61 day with AMEX in a few days and I was wondering how much should I ask AMEX to increase my CL?

I was approved for a $1000 CL for the BCE card. What's the typical CLI for the first time with AMEX?

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 14:47:04 GMT

Go for 3X your CL.

It makes sense when you get a lower credit limit like $1,000.

Re: Typical CLI from AMEX

CS800 — Tue, 03 Jul 2012 14:51:15 GMT

@Anonymous wrote:
Go for 3X your CL.
It makes sense when you get a lower credit limit like $1,000.

+ 1

When I did my CLI, the CSR did say that they couldnt go for more than 3X of your current limit. So go for the full 3X

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 15:00:13 GMT

+1 go for 3k. Remember to have card at 0 balance.

Re: Typical CLI from AMEX

OhioCPA — Tue, 03 Jul 2012 15:00:49 GMT

Actually, the recommended increase is 2x your current limit, e.g., if at $1k, ask for a new CL of $3k.

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 15:04:56 GMT

@OhioCPA wrote:
Actually, the recommended increase is 2x your current limit, e.g., if at $1k, ask for a new CL of $3k.

Isn't an increase from 1K to 3K, 3X the current limit?

Re: Typical CLI from AMEX

OhioCPA — Tue, 03 Jul 2012 16:30:40 GMT

I understood him to ask how much of an increase he should ask for, not what the new credit line should be. Yes, the new CL would be 3x the old, but the CLI is 2x.

Re: Typical CLI from AMEX

CreditPacMan — Tue, 03 Jul 2012 16:59:39 GMT

Thank you guys for the advice.

Is this something with a guaranteed approval? I mean do I have to do the things that I would need to do when apping for a new card (i.e. getting my util% low) ?

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 17:01:10 GMT

Yes is the short answer. However, AMEX uses the last soft pull on your credit report and your history with them to evaluate whether or not to give you CLI.

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 18:06:54 GMT

@OhioCPA wrote:
I understood him to ask how much of an increase he should ask for, not what the new credit line should be. Yes, the new CL would be 3x the old, but the CLI is 2x.

I don't think so. IIRC, AmEx asks for requested limit, not requested increase.

Re: Typical CLI from AMEX

Creditaddict — Tue, 03 Jul 2012 18:22:55 GMT

@OhioCPA wrote:
I understood him to ask how much of an increase he should ask for, not what the new credit line should be. Yes, the new CL would be 3x the old, but the CLI is 2x.

If you take the "X" after your 2 then might be more understandable.

The Policy is 3x current line.

You are saying ask for $3k which is 3x current line or $2,000 more = $3k but that won't work with higher lines.

Re: Typical CLI from AMEX

OhioCPA — Tue, 03 Jul 2012 18:25:14 GMT

I wasn't trying to make this complicated. I just know in the past there has been confusion with the way the 3x is presented.

If someone is at $1k currently, the maximum CL that they should ask for is $3k. The OP asked how much of a CLI is typical for a new member, which is what I thought I was addressing.

Re: Typical CLI from AMEX

Anonymous — Tue, 03 Jul 2012 18:25:26 GMT

@Anonymous wrote:
@OhioCPA wrote:
I understood him to ask how much of an increase he should ask for, not what the new credit line should be. Yes, the new CL would be 3x the old, but the CLI is 2x.
I don't think so. IIRC, AmEx asks for requested limit, not requested increase.

This is correct.

At least this is how it was asked to me and what caused me confusion initially.

Re: Typical CLI from AMEX

CK_Charles_Lover — Tue, 03 Jul 2012 21:15:26 GMT

OP,

Ask for $3000 which is 3X your current limit. Please let us know what the outcome is!

Re: Typical CLI from AMEX

CreditPacMan — Sun, 22 Jul 2012 08:24:18 GMT

Sorry for the very late update guys. I didn't request the increase on the 61st day , I waited for a few days to do that.

I was denied a CL of $3,000 which is 3x my current limit. The reason had to do with my low credit score!

Re: Typical CLI from AMEX

gettnthere — Sun, 22 Jul 2012 21:11:48 GMT

@altayar wrote:
Sorry for the very late update guys. I didn't request the increase on the 61st day , I waited for a few days to do that.
I was denied a CL of $3,000 which is 3x my current limit. The reason had to do with my low credit score!

sorry to hear that. what was your score at the time of approval vs now? and also, did they not counter with a diffrent cli

Re: Typical CLI from AMEX

RockinRay — Sun, 22 Jul 2012 23:07:28 GMT

Sorry to hear this!

But on the flip side, you are in with them and they will for sure grow with you. As your scores rise, so will your CL's. Keep doing what you are doing and it will all work out!