topic Re: American Express CLI question in Credit Cards

American Express CLI question

Anonymous — Sun, 23 Dec 2012 22:18:22 GMT

Ive read on here that when you request one online , if they decline you that they may offer you a lower amount to settle for. CAn someone who has done this explain how this works , does the computer come back with a number or does someone call you?

just not in the mood to have to explain anything to a rep

Thanks

Re: American Express CLI question

nicholasyud — Mon, 24 Dec 2012 00:07:08 GMT

I need to known this as well.........

Re: American Express CLI question

chnceit — Mon, 24 Dec 2012 00:22:17 GMT

The computer comes back with a counter offer or you could go thru the automated line

Re: American Express CLI question

Creditaddict — Mon, 24 Dec 2012 01:39:17 GMT

@Anonymous wrote:
Ive read on here that when you request one online , if they decline you that they may offer you a lower amount to settle for. CAn someone who has done this explain how this works , does the computer come back with a number or does someone call you?

just not in the mood to have to explain anything to a rep

Thanks

You request 3x your current CL at 62 days and then every 6 months from then... YES 3X current CL (up until recently it's always been 3x UNLESS that will put you over the $25k limit and supposedly you can't really do that without some paperwork and stuff but some have posted they have... not sure) $25k is fine for most i know unless they start going up and above that with other banks too or just pour money into amex.

Anyway 3x and it will come back INSTANT with either that full amount you asked for or with what they can do.

and no asking for 3x current cl and staying under $25k if not approved at all or countered is NOT because you asked for to much, it just means they do not want to offer any more credit for now!

Same process online, automated phone, and or with rep on phone. all the same!

Re: American Express CLI question

HiLine — Mon, 24 Dec 2012 01:59:14 GMT

Do you know if Amex would grant a higher than 3X credit limit increase?

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 02:02:35 GMT

thanks for the response credit , also do you know if it matters if its 62 days or more. Ive seen some people post that it only works at exactly 62 days and got declined after that , Im at like 100-120 days.

Re: American Express CLI question

Creditaddict — Mon, 24 Dec 2012 02:06:12 GMT

no you can't ask for more than 3x

and no it's after 62 and then every 6 months.... if you request at 95 days and are approved or denied, you can then request at 6 months from that request... if you don't ask close to the 62 and close to every 6 months you are missing out on free increases! at least if you get approved for them all! haha

Re: American Express CLI question

bichonmom — Mon, 24 Dec 2012 02:08:50 GMT

@Anonymous wrote:
thanks for the response credit , also do you know if it matters if its 62 days or more. Ive seen some people post that it only works at exactly 62 days and got declined after that , Im at like 100-120 days.

I waited longer than 61 days because I wanted a buffer and there was leap day in there, too. 61 days is just the minimum you have to have the card before you can request the CLI.

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 02:51:47 GMT

@Creditaddict wrote:

YES 3X current CL (up until recently it's always been 3x UNLESS that will put you over the $25k limit and supposedly you can't really do that without some paperwork and stuff but some have posted they have... not sure)

From recent discussion and experience:

1) If your current CL is $25K, any request for increase requires additional paperwork, in particular you need to send in a form so that they can get a transcript of your tax returns.

2) At least one person had a CL below $25K, and got a CLI that took him above 25K, without any additional paperwork. However, not clear if this was an auto-CLI or one requested by the user.

One person who could have tested this decided not to because he already had a lot of open credit and didn't want to raise concerns with Amex....

Re: American Express CLI question

youngandcreditwrthy — Mon, 24 Dec 2012 13:54:25 GMT

I got my 3xcli at 61 days from acct opening exactly. I think you must have 61 days under your belt, as well as a good recent SP from Amex to get it. Don't wait, whatever you do!

Re: American Express CLI question

FutureBillionaire — Mon, 24 Dec 2012 16:44:17 GMT

So, what happens with me if I have a 12.5k limit?

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 17:03:33 GMT

@FutureBillionaire wrote:
So, what happens with me if I have a 12.5k limit?

Then you can be our next test case! Ask for a 3x CLI (or anything over two) and see if they give it to you without requesting tax information.

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 17:05:33 GMT

do not try lol..a fr is not worth it..i started out at 15k and im just gonna request 20k..you dont need much more than that and a fr just aint worth the hastle

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 17:20:26 GMT

@Anonymous wrote:
do not try lol..a fr is not worth it..i started out at 15k and im just gonna request 20k..you dont need much more than that and a fr just aint worth the hastle

These are not the dreaded FRs! I just had to submit the IRS form. Your account is not frozen, they just say that if they do not hear from you within 30 days, they will assume you no longer need the CLI. So really very different.

If of course your tax return transcript would show something very different from what you originally told Amex, that's a different story.

Re: American Express CLI question

Creditaddict — Mon, 24 Dec 2012 18:42:00 GMT

@Anonymous wrote:
@Anonymous wrote:
do not try lol..a fr is not worth it..i started out at 15k and im just gonna request 20k..you dont need much more than that and a fr just aint worth the hastle
These are not the dreaded FRs! I just had to submit the IRS form. Your account is not frozen, they just say that if they do not hear from you within 30 days, they will assume you no longer need the CLI. So really very different.

If of course your tax return transcript would show something very different from what you originally told Amex, that's a different story.

I just don't know how much clearer it can be that AMEX says to ask for up to $25k or 3x current cl and asking for $20k because you are at $15k and don't actually need it and you think they won't FR you if you don't ask you are wrong... Amex FR is pretty random if you ask me and you are only getting in your own way for Amex to do what Amex does which is approve or counter your 3x request or up to $25k.

I don't think I have ever seen a credit card company that gives you so much information on policies of SP only once you have the account and how often and for how much you can ask for in a CLI yet Amex still dominates the boards of how it works!

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 19:33:15 GMT

ok so i finally had the courage to do it and got a 7-10 day message..does that mean declined

Re: American Express CLI question

Creditaddict — Mon, 24 Dec 2012 19:45:41 GMT

@Anonymous wrote:
ok so i finally had the courage to do it and got a 7-10 day message..does that mean declined

Yes. mark it in calendar and try again in 6 months.

Sorry!

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 19:47:01 GMT

and this is why you dont listen to idiot bystanders..especially kids with 10000 posts who have no life

Re: American Express CLI question

Anonymous — Mon, 24 Dec 2012 20:00:11 GMT

@Anonymous wrote:
and this is why you dont listen to idiot bystanders..especially kids with 10000 posts who have no life

What did you ask for, $20K? And what was the wording of the message? I think mine said about needing more information, but not sure.

Re: American Express CLI question

Creditaddict — Mon, 24 Dec 2012 20:15:08 GMT

@Anonymous wrote:
and this is why you dont listen to idiot bystanders..especially kids with 10000 posts who have no life

UMMM, I can only assume since I'm just over 10,000 posts you are making this statement about me? I don't know what getting declined for a CLI has to do with me as an idiot, kid, or 10k posts... I am no kid either... as much as I might want to be a little younger, I am not even close.