topic Re: AMEX 3X CLI - First Time and SPs in Credit Cards

AMEX 3X CLI - First Time and SPs

Anonymous — Fri, 03 Oct 2014 23:39:38 GMT

My first AMEX 3X CLI is coming up in about 3 weeks.

I've been monitoring my EX scores and inquiries.

I noticed they SP'd on 9/22 and 9/28. My scores dropped about 5 points due to inqs.

My intial CL is $10k so I'm going for it and asking for the full $30k.

Question: Does AMEX look back at my 9/28 SP report or the most recent SP (assuming they pull another one within the next 2 - 2 1/2 weeks) or do they based my CLI on a SP the day I ask for it? btw, my util is less than 5%, high 600's, no lates.

Thanks.

Re: AMEX 3X CLI - First Time and SPs

joltdude — Sat, 04 Oct 2014 01:14:55 GMT

Your aware of the possible FR?

Re: AMEX 3X CLI - First Time and SPs

Anonymous — Sat, 04 Oct 2014 01:20:43 GMT

@joltdude wrote:
Your aware of the possible FR?

Yes.

And so what does that have to do with my question(s)?

Re: AMEX 3X CLI - First Time and SPs

Middleswarth — Sat, 04 Oct 2014 01:21:00 GMT

On October 1st I asked for $30k for my 61 day CLI. They countered with $19,800 and I accepted. I just checked my Experian report and Amex softed me that same day.

Looks like Chase and DirecTV also softed me on 10/1. Not sure why DirecTV suddendly decided to check my credit. I"ve only had an account with them since 1997....

Re: AMEX 3X CLI - First Time and SPs

Anonymous — Sat, 04 Oct 2014 01:24:57 GMT

@Middleswarth wrote:
On October 1st I asked for $30k for my 61 day CLI. They countered with $19,800 and I accepted. I just checked my Experian report and Amex softed me that same day.

Looks like Chase and DirecTV also softed me on 10/1. Not sure why DirecTV suddendly decided to check my credit. I"ve only had an account with them since 1997....

Thank you.

Btw, did you go online, did you live-chat or did you call with speak with a CSR? How soon take your new CLI show up on your card?

Re: AMEX 3X CLI - First Time and SPs

Middleswarth — Sat, 04 Oct 2014 01:27:32 GMT

Did it all online. The message stated it would be available in 15 minutes. I checked about an hour later and the increase was there.

Good luck.

Re: AMEX 3X CLI - First Time and SPs

Middleswarth — Sat, 04 Oct 2014 01:30:44 GMT

One other thing...

I got an email titled "Decision: Credit Limit Increase Request" that had a link to check my status (this was sent AFTER my instant approval). I clicked on the link and it still said my approval was pending. This is when I checked online and confirmed the increased limit was there.

I just now clicked on the link again and it still says pending. I think there's a bug in their system.

Re: AMEX 3X CLI - First Time and SPs

coldnmn — Sat, 04 Oct 2014 01:31:57 GMT

@Anonymous wrote:
@joltdude wrote:
Your aware of the possible FR?
Yes.

And so what does that have to do with my question(s)?

Nothing, just a friendly heads up. I guess we know better not to now.

Re: AMEX 3X CLI - First Time and SPs

Anonymous — Sat, 04 Oct 2014 01:36:49 GMT

@Middleswarth wrote:
One other thing...

I got an email titled "Decision: Credit Limit Increase Request" that had a link to check my status (this was sent AFTER my instant approval). I clicked on the link and it still said my approval was pending. This is when I checked online and confirmed the increased limit was there.

I just now clicked on the link again and it still says pending. I think there's a bug in their system.

@Anonymous @Middleswwarth -- very helpful information to preapre me for the next step. Congrats on your CLI!!!

Re: AMEX 3X CLI - First Time and SPs

joltdude — Sat, 04 Oct 2014 01:40:11 GMT

I was going to say it was a friendly heads up.. And possibly suggest 24000 if you were going to play it safe and was questioning your eligibility but go for it, but don't complain if you lose and have to deal with the paperwork. Caveat emptor! And for family members 3x they did another SP on the day of approval. Thankless and ungrateful. Was just trying to explain the consequences but feel free to go for broke

Re: AMEX 3X CLI - First Time and SPs

Anonymous — Sat, 04 Oct 2014 01:51:43 GMT

@joltdude wrote:
I was going to say it was a friendly heads up.. And possibly suggest 24000 if you were going to play it safe and was questioning your eligibility but go for it, but don't complain if you lose and have to deal with the paperwork. Caveat emptor! And for family members 3x they did another SP on the day of approval. Thankless and ungrateful. Was just trying to explain the consequences but feel free to go for broke

I do appreciate the feedback, just wasn't quite sure how to take it - but again,thanks for responding.

It's funny that you brought up that number because I actually have been playing with the $24k in my head. I read on another post something to the effect that Amex will watch you like a hawk if you ask for more than $25k. Is this true?

Anyway, by the time I get to the magic date, I will think hard about going for broke $10k x 3 or keep in conversative at $24k which would be a nice $14k increase.

Re: AMEX 3X CLI - First Time and SPs

joltdude — Sat, 04 Oct 2014 01:58:55 GMT

I'm just not a fan of paperwork... It's not hard, though it does give up some privacy, but the whole idea over stressing about the release of the FR just doesn't seem worth it esp if you have other cards. And in theroy, you still could get auto clis without triggering it. Don't have experience with amex but have had to deal with other banks playing balance chasing for others and it's a similar feeling of fear

Re: AMEX 3X CLI - First Time and SPs

Middleswarth — Sat, 04 Oct 2014 02:07:35 GMT

I personally didn't care if they wanted to verify my income or not. And I won't care again in 180 days when I ask for $60k

I don't see them approving $60k since that would put my limit past the 40% of income mark but that won't deter me from asking. I figure what's the worst that could happen? They want me to verify my income before they give me enough credit to buy a nice car? I can live with that.