topic Re: Apprehensive to ask for Amex CLI in Credit Cards

Apprehensive to ask for Amex CLI

chrisw1968uk — Fri, 08 Aug 2014 01:01:19 GMT

Hi All

I have a BCE with an $8k limit - my balance did at one point, get to around $2500 before i started paying it down pretty heavily. Over the last 2 months, I have got my balance down to $800 or 10% - I have not been using my card for about 2 months, because I have been trying to get the balance down and not put more on it.

It has been around 9 months since I last apped for a CLI (approved) - I just asked for a 2x CLI and went from $4k to $8k - I do not NEED a CLI, but it could finally break the $10k barrier - I wouldn't ask for more than the 10k

I have 7 cards with 3 reporting balances (0%) available credit around $45,000 with balances of around $5,800 - Discover Fico 744

Should I go for it - or wait for a while? Thanks All

Re: Apprehensive to ask for Amex CLI

wacdenney — Fri, 08 Aug 2014 01:14:46 GMT

I can't think of any reason not to ask for the full 3X 24k.

Why wouldn't you go for it? What do you have to loose? I think they counter if they aren't willing to give the full amount.

Re: Apprehensive to ask for Amex CLI

Anonymous — Fri, 08 Aug 2014 01:30:30 GMT

I would go for at least 10K but I'm like you, I'm hesitant to go for 3X then 3X again. I plan to take my 6K to 10K in December then leave it alone. Good luck whatever you decide.

Re: Apprehensive to ask for Amex CLI

Creditaddict — Fri, 08 Aug 2014 01:40:14 GMT

I get so confused with everyones worry and fear of asking for what Amex sets as the policy... they are very clear on the 3x policy so why wouldn't you just do it and get the instant counter... it's what the computer is waiting for!!!

Re: Apprehensive to ask for Amex CLI

chrisw1968uk — Fri, 08 Aug 2014 01:47:38 GMT

So you think it would be instant approval or counter? - It shouldn;t be a 7 - 10 day message or anything like that (presuming I have no lates or baddies, of course) - Don't know if my nerves could handle it lol

Re: Apprehensive to ask for Amex CLI

wacdenney — Fri, 08 Aug 2014 02:00:54 GMT

@Creditaddict wrote:
I get so confused with everyones worry and fear of asking for what Amex sets as the policy... they are very clear on the 3x policy so why wouldn't you just do it and get the instant counter... it's what the computer is waiting for!!!

Nothing ventured, nothing gained... The worse they can say is "no". If I worried and got all worked up over every "no" I've gotten throughout my journey, I'd be a nervous wreck by now. Just type it in and hit submit. If they so "no" then fine... At least you asked. They don't have an oportunity to say "YES!" if you never ask. Then there's always the chance that they counter which is fine too.

Re: Apprehensive to ask for Amex CLI

chrisw1968uk — Fri, 08 Aug 2014 02:02:20 GMT

Thanks all I appreciate it

Re: Apprehensive to ask for Amex CLI

wacdenney — Fri, 08 Aug 2014 02:07:33 GMT

@chrisw1968uk wrote:
So you think it would be instant approval or counter? - It shouldn;t be a 7 - 10 day message or anything like that (presuming I have no lates or baddies, of course) - Don't know if my nerves could handle it lol

I think it's an instant decision. I've never heard of anyone getting a 7-10 day message, but even if you did that doesn't change the three possible outcomes.

Just go for it! Or don't... Ultimately, you gotta do whatever you think is right. I just don't understand the apprehension is all. What exactly are you afraid of?

Re: Apprehensive to ask for Amex CLI

Anonymous — Fri, 08 Aug 2014 02:12:36 GMT

@chrisw1968uk wrote:

Should I go for it - or wait for a while? Thanks All

I'vre a Amex CostCo since 5/11 with a initial CL of $14.1k. Did not ask for a CLI un 12/12 and was bumped to $24k flat. Through all that time I charged up, paid down, maxxed it out, paid it off 100%, then maxxed it one more time and paid just over the minimum payment every month until a few weeks ago, where I paid it down to $10k. I logged in, hit the CLI, requested $10k more and received the 7 - 10 day response.

I'm sure it is because of going over the $25k CL, so I called into the Credit to see if I could get a reason. The response was, you will have the reason in the mailing and can call back then. It also leads me to believe that Amex might not be as easy as it once was, unless I'm missing something.

Just my 2 cents.

AdCred1

Re: Apprehensive to ask for Amex CLI

Dalanar — Fri, 08 Aug 2014 02:18:00 GMT

I would agree with everyone about just going for the full triple amount. I have a similar credit limit with the BCE and I will definitely be going for 24k+ once I hit the 61 days.

Re: Apprehensive to ask for Amex CLI

chrisw1968uk — Fri, 08 Aug 2014 02:19:46 GMT

I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon

Re: Apprehensive to ask for Amex CLI

wacdenney — Fri, 08 Aug 2014 02:28:50 GMT

@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon

It does suck to waste an HP. I didn't realize it ever resulted in an HP. That makes sense then...

They do counter. So if you plan to ask for 10k you might as well ask for 24k. If 10k is all they're willing to grant they will counter with that amount.

My BCE started at 2k and went to 6k after my 31st day. The 3X boost has been a major blessing as it put me in a different range of limits. At the time I was granted the 3X from AMEX, most of my limits were in the 2k range, now most of the newer ones at least are starting in the 5k range. I owe that entirely to AMEX. They have been a MAJOR help in my journey and I will definately be going for 18k in October. Even if they countered with 8 or 9 I would be thrilled!!

Re: Apprehensive to ask for Amex CLI

lonelyisland — Fri, 08 Aug 2014 03:01:58 GMT

The 3X CLI is a SP, not a hard pull no matter the result.

If they dont want to give it to you, they counter offer.

I got the 7-10 day message, and got a email later in the day, which led me to a decision portal that told me that my increase was approved.

I did not ask for 3X, just 2X as that's all I wanted on this card, and plan to apply for another in 6 months.

But I dont think there is any reason to "not" do the 3X if you dont have reasons other than nervousness.

I think you have confused another bit - if you apply for a new AMEX card and are declined, its a SP. If you approved, its a HP.

Re: Apprehensive to ask for Amex CLI

Creditaddict — Fri, 08 Aug 2014 03:03:13 GMT

@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon

you are confusing your things with amex.

ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.

Re: Apprehensive to ask for Amex CLI

Anonymous — Fri, 08 Aug 2014 05:41:29 GMT

@Creditaddict wrote:
@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon
you are confusing your things with amex.
ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.

There have been cases here (and indeed this happened to my daugher earlier this year) where there is no counter. I think some of this advice, while it may be true, may also be simplistic. The assumption is that asking 1.5X, 2X or 3X (for example) always leads to the same outcome, via counter. We don't know if that is true (and it's very hard to test!).

So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.

Re: Apprehensive to ask for Amex CLI

Anonymous — Fri, 08 Aug 2014 06:01:28 GMT

@Anonymous wrote:

So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.

Yep, I have a very similar suspicion. It's very easy for a Third Party to yell, "go for it" "What do you have to lose?" Well, certainly the third party has nothing to lose. But, the OP ends up an involuntary subject of a credit experiment.

Maybe it is because I have a distaste for over-blown CLs, which many others in MyFIico are rather addicted to, but I like to take CLI slow and to a point. I don't NEED the 25k Amex limit right now, frankly, I don't need the 18k initial limit they gave me, but I can live with that I guess. The thing is, like in many other areas of life, some like to move slowly, gradually, enjoying the ride, while others want it all over before it starts...

Re: Apprehensive to ask for Amex CLI

TeeGee — Fri, 08 Aug 2014 06:25:26 GMT

@wacdenney wrote:

My BCE started at 2k and went to 6k after my 31st day. The 3X boost has been a major blessing as it put me in a different range of limits. At the time I was granted the 3X from AMEX, most of my limits were in the 2k range, now most of the newer ones at least are starting in the 5k range. I owe that entirely to AMEX. They have been a MAJOR help in my journey and I will definately be going for 18k in October. Even if they countered with 8 or 9 I would be thrilled!!

I'm confused....I thought it was the 61st day, not the 31st day?

Re: Apprehensive to ask for Amex CLI

lonelyisland — Fri, 08 Aug 2014 10:02:16 GMT

@Anonymous wrote:
@Creditaddict wrote:
@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon
you are confusing your things with amex.
ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.
There have been cases here (and indeed this happened to my daugher earlier this year) where there is no counter. I think some of this advice, while it may be true, may also be simplistic. The assumption is that asking 1.5X, 2X or 3X (for example) always leads to the same outcome, via counter. We don't know if that is true (and it's very hard to test!).

So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.

Sure, the statement is wrong if you ignore the rest of the sentence he/she posted after it. It says they'll always counter "if you qualify for something". If you don't qualify, it's a denial, and if they aren't sure, it could lead to Amex requesting the 4506, but those are both cases in which the person didn't qualify for an auto CLI. Unless it's your belief that Amex will not make a counter if someone qualifies, but that seems opposite of everything that's in the Amex 3x CLI guide thread?

Re: Apprehensive to ask for Amex CLI

Anonymous — Fri, 08 Aug 2014 10:07:17 GMT

@lonelyisland wrote:
@Anonymous wrote:
@Creditaddict wrote:
@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon
you are confusing your things with amex.
ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.
There have been cases here (and indeed this happened to my daugher earlier this year) where there is no counter. I think some of this advice, while it may be true, may also be simplistic. The assumption is that asking 1.5X, 2X or 3X (for example) always leads to the same outcome, via counter. We don't know if that is true (and it's very hard to test!).

So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.
Sure, the statement is wrong if you ignore the rest of the sentence he/she posted after it. It says they'll always counter "if you qualify for something". If you don't qualify, it's a denial, and if they aren't sure, it could lead to Amex requesting the 4506, but those are both cases in which the person didn't qualify for an auto CLI. Unless it's your belief that Amex will not make a counter if someone qualifies, but that seems opposite of everything that's in the Amex 3x CLI guide thread?

But what does that mean "if you qualify for something" other than "you will get an offer if you get an offer"?

Re: Apprehensive to ask for Amex CLI

lonelyisland — Fri, 08 Aug 2014 10:39:41 GMT

@Anonymous wrote:
@lonelyisland wrote:
@Anonymous wrote:
@Creditaddict wrote:
@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon
you are confusing your things with amex.
ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.
There have been cases here (and indeed this happened to my daugher earlier this year) where there is no counter. I think some of this advice, while it may be true, may also be simplistic. The assumption is that asking 1.5X, 2X or 3X (for example) always leads to the same outcome, via counter. We don't know if that is true (and it's very hard to test!).

So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.
Sure, the statement is wrong if you ignore the rest of the sentence he/she posted after it. It says they'll always counter "if you qualify for something". If you don't qualify, it's a denial, and if they aren't sure, it could lead to Amex requesting the 4506, but those are both cases in which the person didn't qualify for an auto CLI. Unless it's your belief that Amex will not make a counter if someone qualifies, but that seems opposite of everything that's in the Amex 3x CLI guide thread?
But what does that mean "if you qualify for something" other than "you will get an offer if you get an offer"?

I understood the advice to mean IF you qualify, you won't waste/spoil your request by asking for a larger CLI than AMEX is willing to give because they'll counter it. Which reading through the entire CLI post, it seems that didn't used to be the case.