AMEX 3X CLI: Impact on Apps & When it Reports

[Anonymous]

I'm coming up on going for a 3x on my AMEX Magnet. I was wondering if people could share their experience of how long after a 3x CLI it takes AMEX to report the new limit to the bureaus, and what impact the new limit has had on any apps they've done after the increase has posted. I've heard that creditor's may not give much weight to a spending limit without much age behind it, but that was from a non myFico source, and I trust this board's collective wisdom and shared data points more than one undocumented say so. I specifically have in mind if the Amex would help me qualify for other Visa Signature cards with a high initial minimum credit limit.

[Anonymous]

If you receive a CLI with Amex, it should report at your next statement closing date. I think it will absolutely help your case when applying for Visa Signature cards if you have a CL that is 5k or more. Lenders will want to see history with such limits if they are going to be required to give you a 5k SL right off the bat. IME, once I got my first 5k credit card, the credit cards to follow came with similar SLs.

[MrDFinance]

I agree..... It's on the of the reasons I wanted to get a Navy Fed and penfed card... They are known for monster limits and once you acquire those high limits and when you go for CLI's or new apps the history with those high limits tend to start a change reaction of higher spend limits... No one wants to be the first one to lend you huge limits ...It either takes time or you get your foot in the door with lenders that do....