topic Re: Amex CLI vs. new CC in Credit Cards

Amex CLI vs. new CC

bichonmom — Fri, 30 Nov 2012 05:58:53 GMT

So, I have had Amex Costco since Feb. I got a 61-day CLI from $2k to $6k. I don't use the card much, except for Costco, incl Costco gas. Mostly because I want to stay under 10% bal reporting. Also, I don't like having to wait a year for the rewards. But if I had a higher CL, I would probably be using it more for restaurants at 2%.

My plan had been to get a CLI in November and then app for either BCE or BCP in Jan for the full year of backdating, to help boost my AAoA. Also, for better grocery rewards.

So, my question is, should I try for a CLI now and app for BCE/P in Jan, or is that too much too soon. I've really worked to fly under their infamous FR radar. I'm concerned that trying for 3x CLI to $18k and then apping for BCE/P barely 2 mos later might not be a good idea.

I'd love to know what others have been successful with in that area with them. I'm also aware that banks have a ceiling for what they're willing to extend to a single person, and if I do get a CLI, I wonder if that might lower my chances for a BCE/P in Jan.

On the other hand, I would really like the additional CL to help with overall util.

Thanks, all, for your input.

Re: Amex CLI vs. new CC

daybreakgonesXe — Fri, 30 Nov 2012 06:03:40 GMT

I would wait on that CLI if you're going for BCE/BCP, or just do a lower CLI, like 2x. Don't wanna affect getting disqualified for BCE/BCP! Sometimes though you can recon and switch some credit line over from your current AMEX to the new card.

Also apply for BCE/BCP at the one year mark of your Costco card can't hurt to wait for a better chance of approval!

Re: Amex CLI vs. new CC

Creditaddict — Fri, 30 Nov 2012 06:06:54 GMT

I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that

Re: Amex CLI vs. new CC

bichonmom — Fri, 30 Nov 2012 07:31:13 GMT

I don't want to start transferring CLs from one card to another. I'm not even sure if Amex does that. But I want to stay as far under the radar w/them as I can. I'd just as soon leave my Costco @ $6k if it will make the diff in being approved for BCE or BCP.

Also, I do have a couple of balances that I didn't before, so I'm concerned that that might prevent an approval of one or both. I'll be paying down some of it in Dec, but if Amex uses an old SP, then they won't see it. I have $6k bal on $10k card and $5500 bal on $10k card. With those balances, I wonder if they'll even approve me.

Re: Amex CLI vs. new CC

cutemarty1 — Fri, 30 Nov 2012 13:29:36 GMT

@Creditaddict wrote:
I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that

Can you guys help me out. Am so depressed. It's been six months since I had my AMEX Hilton. I have been denied 3x for a CLI. My TU score is 702.

Recently got approved for a CSP, Hyatt Sig and a CLI for my Discover.

Re: Amex CLI vs. new CC

Cdnewmanpac — Fri, 30 Nov 2012 14:25:07 GMT

While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.

Re: Amex CLI vs. new CC

Cdnewmanpac — Fri, 30 Nov 2012 14:27:03 GMT

@cutemarty1 wrote:
@Creditaddict wrote:
I would do the CLI and as far as not asking for 3x because of app for another card down road will not change rather you can "apply" and get approved... the computer already has that CLI ready most likely... so 2x, 3x it won't matter... ask for the 3x, they counter.... if next year you apply and they say no because of CLI, just wait 2 more months or whatever and it should be fine... but i don't think new accounts count towards that
Can you guys help me out. Am so depressed. It's been six months since I had my AMEX Hilton. I have been denied 3x for a CLI. My TU score is 702.

Recently got approved for a CSP, Hyatt Sig and a CLI for my Discover.

Did you have a balance reporting at time of request? What reasons did letters give for rejection? Same each time?

Re: Amex CLI vs. new CC

bichonmom — Fri, 30 Nov 2012 22:14:45 GMT

@Cdnewmanpac wrote:
While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.

Yes, I definitely have Ficoforumitis. That's why I have to take a break every so often.

I'm a little confused about the timing of the CLIs... So, if I get a new Amex AND get a CLI on my old Amex in Jan, then I can't get the 61-day CLI on the new one, and I have to wait the regular "6 mos since last CLI" for the new one. Is that right? I guess I hadn't really thought about it, but thought that the 61-day CLI applied regardless of any other CLIs you got on your other Amex cards.

Maybe I'm misunderstanding, but it sounds like you can only get ONE Amex CLI every 6 mos period, regarless of how many Amex CCs you have. Or, is it every 6 mos PER CC?

Would really appreciate some clarification here. I haven't had more than 1 Amex CC (only Zync and Costco), so it hasn't been an issue.

Re: Amex CLI vs. new CC

TNTransplant — Fri, 30 Nov 2012 22:44:45 GMT

@bichonmom wrote:
@Cdnewmanpac wrote:
While I think you are overthinking/overworrying this (ficoforumitis!), why not app for bce/p on jan 1, then request CLI jan 2? Yes, that means you won't be able to get CLI on bce/p until July instead of June, but this would stop you from worrying about whether the CLI request impacted your bce/p outcome. And Amex absolutely shifts limits from card to card, just a simple phone call. So if your bce/p limit is small and you get a big bump on Costco, you can just push some onto bce. no risk of fr in shifting available credit, because their exposure doesn't change.
Yes, I definitely have Ficoforumitis. That's why I have to take a break every so often.

I'm a little confused about the timing of the CLIs... So, if I get a new Amex AND get a CLI on my old Amex in Jan, then I can't get the 61-day CLI on the new one, and I have to wait the regular "6 mos since last CLI" for the new one. Is that right? I guess I hadn't really thought about it, but thought that the 61-day CLI applied regardless of any other CLIs you got on your other Amex cards.

Maybe I'm misunderstanding, but it sounds like you can only get ONE Amex CLI every 6 mos period, regardless of how many Amex CCs you have. Or, is it every 6 mos PER CC?

Would really appreciate some clarification here. I haven't had more than 1 Amex CC (only Zync and Costco), so it hasn't been an issue.

This.

Re: Amex CLI vs. new CC

bichonmom — Sat, 01 Dec 2012 06:34:02 GMT

Wow. Thanks! In all of the reading I've done on the forum (which is A LOT!), somehow I never caught that.