topic Re: Amex auto CLIs in Credit Cards

Amex auto CLIs

red259 — Fri, 17 Jan 2014 05:18:17 GMT

I know you can apply for CLIs with amex, but do they also do auto cli's and if so how often?

Re: Amex auto CLIs

myjourney — Fri, 17 Jan 2014 05:23:00 GMT

Nope ....Nada....Zip

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 05:23:11 GMT

They seem to be fairly infrequent, though I may be wrong. It seems that these offers are usually extended to people who do not initiate for any CLIs on their own, so Amex takes the initiative instead.

Re: Amex auto CLIs

Creditaddict — Fri, 17 Jan 2014 05:27:29 GMT

@red259 wrote:
I know you can apply for CLIs with amex, but do they also do auto cli's and if so how often?

why wait when they are clear on the CLI policy and it's alway sp!

Re: Amex auto CLIs

Jamisonke — Fri, 17 Jan 2014 05:32:53 GMT

I didn't think AMEX did either, but I just got one last month on my Costco TE card. Who knew?

Re: Amex auto CLIs

red259 — Fri, 17 Jan 2014 06:02:50 GMT

@Creditaddict wrote:
@red259 wrote:
I know you can apply for CLIs with amex, but do they also do auto cli's and if so how often?
why wait when they are clear on the CLI policy and it's alway sp!

This is a good question. Here is one of my concerns. I just got the BCP card a 5.7k starting credit line. Obviously this credit line can grow fairly large if I get a CLi on the 61 day mark and six month mark. At some point down the line I would like to get the SPG card (probably august). I am a little concerned that if my BCP gets up around the 25k mark and then I apply for the spg card I may be at risk for a FR, which I don't really feel like submitting the tax documents for. I have read some posts that say this is not really an issue if you have less than 25k on two different cards, but I am worried about the overall culmative effect. I think I would prefer the larger credit line to be on the spg card, because when I switch over to it that would be my go to card and the bcp would only be used for grocery spend. Given my goals I am not sure if it would be smart to try to grow my bcp card to a high balance. I'm just speculating though and would appreciate any feedback from people who have experience with multiple amex revolvers.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 06:29:41 GMT

@red259 wrote:
@Creditaddict wrote:
@red259 wrote:
I know you can apply for CLIs with amex, but do they also do auto cli's and if so how often?
why wait when they are clear on the CLI policy and it's alway sp!
This is a good question. Here is one of my concerns. I just got the BCP card a 5.7k starting credit line. Obviously this credit line can grow fairly large if I get a CLi on the 61 day mark and six month mark. At some point down the line I would like to get the SPG card (probably august). I am a little concerned that if my BCP gets up around the 25k mark and then I apply for the spg card I may be at risk for a FR, which I don't really feel like submitting the tax documents for. I have read some posts that say this is not really an issue if you have less than 25k on two different cards, but I am worried about the overall culmative effect. I think I would prefer the larger credit line to be on the spg card, because when I switch over to it that would be my go to card and the bcp would only be used for grocery spend. Given my goals I am not sure if it would be smart to try to grow my bcp card to a high balance. I'm just speculating though and would appreciate any feedback from people who have experience with multiple amex revolvers.

Remember it's not a real FR, just a request for permission to get your tax returns. If you decline, your cards remain open, they just don't process your CLI request.

But when I read your original question I guessed that was the case: if Amex can give you an auto CLI, you certainly won't be asked for your returns!

The one "case" I know is my daughter but maybe not quite an auto CLI. She got approved for the BCE for $1K. We then remembered she had been an AU on my BCP a whole year earlier, so she got her MSD updated. Without comment, her replacement card came indicating an $8K limit. So it's possible they rescored or something but we were surprised. Later, due to lack of income, she was denied 61 day CLI, which was a reach anyway!

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 11:19:35 GMT

+1 to what longtimelurker said.

Also to remember, the 25k CL rule isn't true for all cases. There are people with 30k+ CLs whom have never been asked for any docs.

On the other hand, there are people whom were asked for tax docs even for a 1k to 3k CLI request.

And there's always a chance Amex may just want to do income verification. Any kind of account opening sprees or major changes to your credit report, including amassing a lot of CL over a short period of time through CLI requests, is more likely to trigger income verification for risk management purposes.

Its best to just assume you will eventually need to submit these documents. It's really no big deal in my opinion. People just blow things out of proportion and make it seem all bad, but it's really just signing a form and just sending it back. I don't see how it infringes / intrudes upon someone's privacy.

Re: Amex auto CLIs

Walt_K — Fri, 17 Jan 2014 13:46:09 GMT

I have received an Auto CLI on my Amex SPG card, which took me from $25K to $27K. That was some time ago. I have three Amex revolvers totaling $50K across three cards. I also have two Amex charge cards. I have not been asked for tax documents when I have applied for new cards.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 13:55:39 GMT

enharu wrote:urposes.

Its best to just assume you will eventually need to submit these documents. It's really no big deal in my opinion. People just blow things out of proportion and make it seem all bad, but it's really just signing a form and just sending it back. I don't see how it infringes / intrudes upon someone's privacy.

Oh, I think there are real valid privacy concerns, just for many people need to be balanced against the desire for a CLI or keeping the account. The most obvious is where you are filing jointly. Your spouse may have no relationship with Amex but now some information that at least includes him/her (income, capital gains etc on the return) and some unique to him/her (SSN) + names and SSN of dependents all go to Amex.

Now they may have some or all of it by other means anyway, but I think it is obvious that there can be at least questions about this practice!

Re: Amex auto CLIs

takeshi74 — Fri, 17 Jan 2014 15:26:38 GMT

@red259 wrote:
I am a little concerned that if my BCP gets up around the 25k mark and then I apply for the spg card I may be at risk for a FR, which I don't really feel like submitting the tax documents for.

A 4506T in response to a CLI request is not an FR. FR's involve freezing your accounts while they review.

@red259 wrote:
I think I would prefer the larger credit line to be on the spg card, because when I switch over to it that would be my go to card and the bcp would only be used for grocery spend. Given my goals I am not sure if it would be smart to try to grow my bcp card to a high balance. I'm just speculating though and would appreciate any feedback from people who have experience with multiple amex revolvers.

Experience doesn't really matter so much as your goals and priorities. If you want the larger CL on the SPG and don't want to turn in the 4506T then don't request CLI's on the BCP unless you need the additional available credit on the BCP. Keep in mind that you don't have to requst 3X. You can request less if you want to leave headroom for the SPG but slightly increase the BCP.

@Anonymous wrote:
Also to remember, the 25k CL rule isn't true for all cases. There are people with 30k+ CLs whom have never been asked for any docs.

I'm at 31.9K without a 4506T. Last CLI request triggered the 4506T.

@Anonymous wrote:
I don't see how it infringes / intrudes upon someone's privacy.

It's a subjective matter. Each needs to decide for his/her self. I didn't feel like submitting the 4506T above. CLI would have been nice but it wasn't a must-have for me.

Re: Amex auto CLIs

red259 — Fri, 17 Jan 2014 18:29:26 GMT

If I got the CLI on the BCP would I later be able to easily move some of it over to the SPG card? If Amex requests tax info on a CLI and I refuse and reapply months later will I automatically be asked for tax information the next time I request a CLI?

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 20:15:19 GMT

The donor card will need to be 12 months.

If you refuse to submit tax docs for CLI, they will simply cancel the request. You may or may not be asked for tax docs again for future requests. It can go both ways.

Re: Amex auto CLIs

maksimfa — Fri, 17 Jan 2014 21:01:10 GMT

I am sure for some people it may have to do with the fact that they "adjusted" their income higher than it really is.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 21:34:12 GMT

@maksimfa wrote:
I am sure for some people it may have to do with the fact that they "adjusted" their income higher than it really is.

Well, in those cases (where the difference is very high) submitting might lead to closure anyway, so no point in going through with it. But a lot of people really do worry about the privacy aspects, and most of them have not been dishonest in their app.

Re: Amex auto CLIs

red259 — Fri, 17 Jan 2014 22:08:45 GMT

@Anonymous wrote:
@maksimfa wrote:
I am sure for some people it may have to do with the fact that they "adjusted" their income higher than it really is.

Well, in those cases (where the difference is very high) submitting might lead to closure anyway, so no point in going through with it. But a lot of people really do worry about the privacy aspects, and most of them have not been dishonest in their app.

+1 I'm not really interested in giving over additional personal information of myself or my partners to lenders for credit lines that I don't really need.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 22:15:06 GMT

And views can change as well.

When Amex asked for a transcript (when I wanted a CLI) I didn't really think about it, and sent it in.

Later on, reading more, I decided I wouldn't do it again (even though they now have one copy of my data).

But now I have the Blue Cash, that I intend to use in ways that might attract an FR but still be in line with my income, if FRd I probably would supply the documentation, simply because to me the benefits of the card outweigh privacy concerns, again for me, at this time.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 22:19:36 GMT

@Anonymous wrote:
enharu wrote:urposes.

Its best to just assume you will eventually need to submit these documents. It's really no big deal in my opinion. People just blow things out of proportion and make it seem all bad, but it's really just signing a form and just sending it back. I don't see how it infringes / intrudes upon someone's privacy.
Oh, I think there are real valid privacy concerns, just for many people need to be balanced against the desire for a CLI or keeping the account. The most obvious is where you are filing jointly. Your spouse may have no relationship with Amex but now some information that at least includes him/her (income, capital gains etc on the return) and some unique to him/her (SSN) + names and SSN of dependents all go to Amex.

Now they may have some or all of it by other means anyway, but I think it is obvious that there can be at least questions about this practice!

I agree with your viewpoint, and I'm not saying what I think is absolutely right. With regards to issues like this, it's really a personal thing. I think its okay, but there are obviously others who think differently and neither of us are right nor wrong.

From my view point, people who file jointly are at an advantage instead, since their reported income will be higher than what they actually reported on the app itself. And of course, when you look at it the other way, your viewpoint is valid too.

The biggest reason why I think it's no big deal is because most lenders are somehow able to obtain these info anyways one way or another, and I personally think my info is in safer hands with Amex than say the NSA, which already has my info anyways. In most cases it's no big deal (to me). My take is that they just want to verify your income, and that's it. It's not like my family will soon be bombarded with all sorts of frivolous offers.

@Anonymous wrote:
@maksimfa wrote:
I am sure for some people it may have to do with the fact that they "adjusted" their income higher than it really is.

Well, in those cases (where the difference is very high) submitting might lead to closure anyway, so no point in going through with it. But a lot of people really do worry about the privacy aspects, and most of them have not been dishonest in their app.

+1. if the income difference is very high for no good reason, you are better off not submitting it. The only few examples where one can explain a big difference in income is when you're self employed. Most people are not stupid enough to commit fraud over a credit app, though you will also be amazed at how stupid those select few can get.

Re: Amex auto CLIs

red259 — Fri, 17 Jan 2014 22:24:31 GMT

How do credit apps work if you are married but file separately? You can't declare your partner's income as part of your annual income if you share everything? I know people who file separately for a number of reasons, but they still pool all their money.

Re: Amex auto CLIs

Anonymous — Fri, 17 Jan 2014 22:26:54 GMT

@red259 wrote:
How do credit apps work if you are married but file separately? You can't declare your partner's income as part of your annual income if you share everything? I know people who file separately for a number of reasons, but they still pool all their money.

they work in the same exact way as they work now.

if the bank is asking you for your personal income, you fill in your personal income only. if they are asking for household income, then you can include your partner's. If they do ever need household income verification, you may just need to submit pay stubs / proof of income for both you and your partner.