topic Re: No Amex Credit Limit Increase in General Credit Topics

No Amex Credit Limit Increase

WyomingJonMadeIt — Mon, 15 Apr 2024 18:10:22 GMT

Hello,

I have an amex blue account I recently upgraded to the preffered. This account has been open and in good standing since 2016. I have never received a credit limit increase. Account is still at $1,000. Ive closed accounts from 3 other banks that had limits in the $30k range. I recently tried and was told no online. Now it wont let me try again. Im at a 750 credit score, only debt is a mortgage that is in good standing. If i call amex will they give me a better response? Any tips? Thank you.

Re: No Amex Credit Limit Increase

FicoMike0 — Mon, 15 Apr 2024 19:53:25 GMT

I would think so. I opened the bce last June, they went $6000. Six months later they automatically upped it to $9000. I think my fico was 750-775.

Re: No Amex Credit Limit Increase

CreditPoor — Mon, 15 Apr 2024 21:07:33 GMT

What is your reported income?

How much spend do you put on the card?

Do you often carry balances?

Any derogatories?

This would be helpful

Re: No Amex Credit Limit Increase

NoHardLimits — Mon, 15 Apr 2024 21:29:15 GMT

@CreditPoor wrote:
What is your reported income?
How much spend do you put on the card?
Do you often carry balances?
Any derogatories?

This would be helpful

Yes, there must be something in your profile that is making Amex nervous. Amex is usually one of the most generous lenders when it comes to CLIs. Did you perhaps have some negative past relationship with Amex? Also, the $1k starting limit in 2016 indicates that your approval was very marginal at that time.

Re: No Amex Credit Limit Increase

SouthJamaica — Mon, 15 Apr 2024 22:26:23 GMT

@WyomingJonMadeIt wrote:
Hello,

I have an amex blue account I recently upgraded to the preffered. This account has been open and in good standing since 2016. I have never received a credit limit increase. Account is still at $1,000. Ive closed accounts from 3 other banks that had limits in the $30k range. I recently tried and was told no online. Now it wont let me try again. Im at a 750 credit score, only debt is a mortgage that is in good standing. If i call amex will they give me a better response? Any tips? Thank you.

When you get turned down for a CLI application, you're supposed to get an adverse action letter. Did you get a letter? If so, what did it give as the reason(s) for the denial?

Re: No Amex Credit Limit Increase

WyomingJonMadeIt — Tue, 16 Apr 2024 00:49:30 GMT

That was my first credit card in college. Ive had about 4 other fixed lines of credit from amex since then. Im down to two other fized from them. The checking account i have with them has more in it that the credit potential of all accounts.

I do not currently keep any balance. Put about $800 a month on this card, pay it off constantly to keep it under $500.

My income is reported at $145,000 a year.

Never got the letter.

No negatives, never had an issue. Used to have the amex green and gold, once put an $8k purchase on that. Paid it off same month.

Really no credit issues. My monthly mortgage payment is twice this limit.

Re: No Amex Credit Limit Increase

NoHardLimits — Tue, 16 Apr 2024 01:26:26 GMT

Amex isn't really known for "bucketing" cards like Cap1, but it seems odd that they won't budge on a CLI when you've had other positive lines of credit with them. A deposit relationship doesn't seem to help with the credit card lending decisions at Amex. Your stated income also doesn't seem to imply any high debt to income issues.

If you are open to the idea, it might be worth trying to apply for a new Amex credit card. It will probably be a soft inquiry. See if you are pre-approved for anything. Amex allows credit limit reallocations, so that could be a workaround for you to increase the limit on your old card by moving some limit from a new card.

Re: No Amex Credit Limit Increase

Barkius — Tue, 16 Apr 2024 02:43:23 GMT

I have a BCE that is stuck at $1000.

Otherwise I have a Gold plus a BBC and a BBP, both of which have around $10,000 CLs 🤔

Re: No Amex Credit Limit Increase

Shooting-For-800 — Tue, 16 Apr 2024 04:11:23 GMT

Any prequals for other Amex cards?

Re: No Amex Credit Limit Increase

WyomingJonMadeIt — Tue, 16 Apr 2024 11:51:41 GMT

I called amex and they declined me. They stated their reasoning was the citi bank card I had 8 grand on the begginning of the year. Citi had given me a $8k no interest for 2 years offer. When the 2 years expired in november citi raised interest to 45% and started lowering credit limit $200 a month. Never missed any payments but i was paying them about $700 a month for an account to show i was $200 over credit limit every report. So i harassed them back a bit until they agreed to give me 6 months of no interest to pay it off. I voluntarily closed it, and my other 3 citi card accounts. My other post on here shows i paid off $55k of card and unsecured loan balances last month. I still have $1,500 to pay off on this one citi account. I wonder if amex will be happy once that is done. I will never do business with citi again.

Amex agreed to submit my credit limit increase for a person to review after i explained 8 years of no missed payments, never got an increase, monthly expendured exceeding their limit, etc.

Re: No Amex Credit Limit Increase

Rogue46 — Tue, 16 Apr 2024 19:24:26 GMT

@WyomingJonMadeIt wrote:
I called amex and they declined me. They stated their reasoning was the citi bank card I had 8 grand on the begginning of the year. Citi had given me a $8k no interest for 2 years offer. When the 2 years expired in november citi raised interest to 45% and started lowering credit limit $200 a month. Never missed any payments but i was paying them about $700 a month for an account to show i was $200 over credit limit every report. So i harassed them back a bit until they agreed to give me 6 months of no interest to pay it off. I voluntarily closed it, and my other 3 citi card accounts. My other post on here shows i paid off $55k of card and unsecured loan balances last month. I still have $1,500 to pay off on this one citi account. I wonder if amex will be happy once that is done. I will never do business with citi again.

Amex agreed to submit my credit limit increase for a person to review after i explained 8 years of no missed payments, never got an increase, monthly expendured exceeding their limit, etc.

That sounds like a logical reason since you were over your limit with Citi they didn't want to extend more credit to you. Maybe in a few months once the dust settles try again

Re: No Amex Credit Limit Increase

SouthJamaica — Tue, 16 Apr 2024 19:41:30 GMT

@WyomingJonMadeIt wrote:
That was my first credit card in college. Ive had about 4 other fixed lines of credit from amex since then. Im down to two other fized from them. The checking account i have with them has more in it that the credit potential of all accounts.

I do not currently keep any balance. Put about $800 a month on this card, pay it off constantly to keep it under $500.

My income is reported at $145,000 a year.

Never got the letter.

No negatives, never had an issue. Used to have the amex green and gold, once put an $8k purchase on that. Paid it off same month.

Really no credit issues. My monthly mortgage payment is twice this limit.

How long ago did you apply?

Re: No Amex Credit Limit Increase

SouthJamaica — Tue, 16 Apr 2024 19:44:51 GMT

@WyomingJonMadeIt wrote:
I called amex and they declined me. They stated their reasoning was the citi bank card I had 8 grand on the begginning of the year. Citi had given me a $8k no interest for 2 years offer. When the 2 years expired in november citi raised interest to 45% and started lowering credit limit $200 a month. Never missed any payments but i was paying them about $700 a month for an account to show i was $200 over credit limit every report. So i harassed them back a bit until they agreed to give me 6 months of no interest to pay it off. I voluntarily closed it, and my other 3 citi card accounts. My other post on here shows i paid off $55k of card and unsecured loan balances last month. I still have $1,500 to pay off on this one citi account. I wonder if amex will be happy once that is done. I will never do business with citi again.

Amex agreed to submit my credit limit increase for a person to review after i explained 8 years of no missed payments, never got an increase, monthly expendured exceeding their limit, etc.

Sounds to me like you know exactly why they denied your CLI application.

Also there seems to be a typo, where you state Citi raised the interest to 45%, which would be illegal in every state in the Union.