topic Re: Amex BCE cli question. in Credit Cards

Amex BCE cli question.

SteveUrkel — Thu, 29 Aug 2013 22:18:05 GMT

so about 4 days ago i requested a increase from 1000 to 1,500. i got message saying we will send a written response with 7-10 days. today i got the letter which i thought would be a denied message. but i actually got a message saying they need my IRS 4506T form. is this common for such a little increase? and wat are my odds of approval?

Re: Amex BCE cli question.

Omnipotent — Thu, 29 Aug 2013 22:40:28 GMT

Details on your history please

Re: Amex BCE cli question.

09Lexie — Thu, 29 Aug 2013 22:42:25 GMT

As a student, what did you use as income?

Re: Amex BCE cli question.

SteveUrkel — Thu, 29 Aug 2013 22:53:56 GMT

im not a student, income 32,000

Re: Amex BCE cli question.

SteveUrkel — Thu, 29 Aug 2013 22:57:05 GMT

Year and a half of credit history, no baddies ever. no late payments. about 45% util overall

Re: Amex BCE cli question.

Anonymous — Thu, 29 Aug 2013 22:59:03 GMT

So first question is, do you want to play? Some people don't, feeling that providing tax forms is too intrusive. For such a small potential increase, I might decide not to in this case. If you don't, your CLI request goes away, you just keep your current limit.

Have you had the card long? Have you been spending a lot compared to your income?

Re: Amex BCE cli question.

09Lexie — Thu, 29 Aug 2013 23:03:14 GMT

Ok, I saw the College Card and assumed you were a student.

If you do not execute the firm, the CLI will probably be declined. I agree, that's a sm amount for income documents.

45% util is kinda high. Were the balances being carried?

Re: Amex BCE cli question.

SteveUrkel — Thu, 29 Aug 2013 23:31:45 GMT

yes im 45% util on all my total credit, since i dontplan on apping anytime soon ive been using my credit lines. and i was a student 2 years ago but not anymore.

Re: Amex BCE cli question.

SteveUrkel — Thu, 29 Aug 2013 23:32:35 GMT

ive had it for about 3 months. i spend on it frequently

Re: Amex BCE cli question.

Dubious — Thu, 29 Aug 2013 23:36:28 GMT

Were you a student with a different income when you first got the BCE? That might be why they want docs.

ETA: Just saw your post. Then idk. There must be something else going on...

Re: Amex BCE cli question.

SteveUrkel — Fri, 30 Aug 2013 00:49:56 GMT

is it bad if i go ahead and fax the form? or should i just ignore it?

Re: Amex BCE cli question.

Dubious — Fri, 30 Aug 2013 02:30:13 GMT

Only you can decide if it's "bad." Think about what's on your tax return. If you don't mind AmEx seeing it, then fax the form.

Re: Amex BCE cli question.

SteveUrkel — Fri, 30 Aug 2013 02:36:19 GMT

well what would be considered "bad"? Last year was my first time that i filed taxes, so i dont know if there is something bad therE?

Re: Amex BCE cli question.

SnackTrader — Fri, 30 Aug 2013 03:19:08 GMT

I don't consider anything on my tax returns "bad". But, for those who are more private they take offense to others knowing their income, who provided the income, other members of their family, deductions they took, etc.

My experience is that companies can find many, many ways to get more private info about you if they wanted to. But here's the deal: they probably don't care. Most companies who get detailed tax info (mortgage lenders, for example) likely take the form, note the income, stick it in a file, and leave it alone.

It's up to you if you want to go for it, but the truth is that most people have reported that they don't see a CLI on that card until they send that form once they get the notice. When you try again in 90 days, the experiences posted on the forums say they will ask for the form again.

Re: Amex BCE cli question.

missjae — Fri, 30 Aug 2013 03:21:04 GMT

@CarlosC88 wrote:
well what would be considered "bad"? Last year was my first time that i filed taxes, so i dont know if there is something bad therE?

If the income you stated does not match your tax return, that could be bad. Someone on the forum posted a link to a blog post about Amex's FR/income verification. If you read it, it will give you tons of information about your situation.

If everything is on the up and up and you want the increase, then submit the info.

Re: Amex BCE cli question.

SteveUrkel — Fri, 30 Aug 2013 03:35:14 GMT

my income on my tax returns was 28K, i got a raise since then and i put that i wpould make around 32K this year. think thats a problem?

Re: Amex BCE cli question.

wHiTeSoL — Fri, 30 Aug 2013 06:29:45 GMT

with a 12% difference like that there wont be a problem. If you meant to put 19K but slipped an extra 1 in front then that would be a problem.

Re: Amex BCE cli question.

JonStur — Fri, 30 Aug 2013 10:11:56 GMT

Since you have nothing to hide I would just send in the paperwork... If you ever want an increase your going to have to do this anyway. They already know where you live, work, income, your soc sec#, so if you don't have 15 pages of documents that you need to fax and and don't have a secret Swiss Bank acct you don't want to disclose, I would just do it. Then in 6mos you can breathe easy when you go for that 3X CLI!!!!!!

Re: Amex BCE cli question.

takeshi74 — Fri, 30 Aug 2013 14:42:06 GMT

@CarlosC88 wrote:
today i got the letter which i thought would be a denied message. but i actually got a message saying they need my IRS 4506T form. is this common for such a little increase?

It's not uncommon for all sorts of CLI's -- it just depends on the person's credit.

@CarlosC88 wrote:
yes im 45% util on all my total credit, since i dontplan on apping anytime soon ive been using my credit lines.

It's not just apping that matters. CLI's matter as well. Get your utilization down before apping or requesting CLI's.

Re: Amex BCE cli question.

SteveUrkel — Fri, 30 Aug 2013 15:53:59 GMT

So i faxed it over. any idea how long it takes before a decision is made?