AMEX 3X CLI - is this even possible with my SL?

[Anonymous]

I've read a lot of threads regarding the 3X CLI at 61 days with AMEX which is what pushed me to app for the BCE in the first place. 

What I was NOT expecting was the SL of 15K. Income is 130K. Is it even possible/recommended to go for 3X CLI at 61 days considering my SL?

Also, I just want to verify that it will indeed be a SP since I'm in the garden. ;-)

Let me know if I'm missing any DPs to assist in answering my questions.

[Anonymous]

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@Anonymous wrote:

I've read a lot of threads regarding the 3X CLI at 61 days with AMEX which is what pushed me to app for the BCE in the first place. 

What I was NOT expecting was the SL of 15K. Income is 130K. Is it even possible/recommended to go for 3X CLI at 61 days considering my SL?

Also, I just want to verify that it will indeed be a SP since I'm in the garden. ;-)

Let me know if I'm missing any DPs to assist in answering my questions.

Yes its entirely possible but you may be asked to provide income verification.  If Amex doesn't think you're ready for a $45K credit limit they will make a counter-offer.  Also, if you're denied at 61 days, you can make another request 151 days after the approval date.

[HeavenOhio]

@Anonymous, AMEX will probably ask for income verification (IV) for requests over 34.9k. If you try for a number beyond that and get the IV request, hit your browser's back button and try again with a lesser amount. You can do this multiple times if necessary. Any IV request forms that come in the mail can be ignored.

Once you're close to 34.9k, AMEX will probably grant a 5k increase without verification. And they'll likely be willing to grant 5k increases every six months beyond that. Larger requests will probably require IV.

That said, my suggestion would be to ask for 30k this time around.

[CreditInspired]

Welcome to my FICO

Here are my DPs. I also got a &15K SL.

First, be on the safe side and count out 62 days. I swear I counted out 61 days and was denied. Called and CS rep said I applied too early. I applied again in 2 days.

Second, I asked for 3X CLI and was asked for a 4506T. So I decreased to $35K, $30K and $28K, but all still requested the 4506T. My offers were never countered. Finally at $25K, I got the approval w/o the request.

Third, I don’t make make a six-figure income.

Yes, it was a SP.

[Anonymous]

I have an Everyday and went from $15.5k to $45k without an IV request.  Good luck!

[HeavenOhio]

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@Anonymous wrote:

I have an Everyday and went from $15.5k to $45k without an IV request.  Good luck!

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We've seen a handful of those of late. Yours is the third that I recall specifically. It's not yet enough to decide that there's been a policy change, but it's a ray of hope. The bottom line is that as long as you know the drill with the back button and that IV forms can be ignored, you can play around a bit.

[Anonymous]

The CLI was back in July/August.

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@HeavenOhio wrote:

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@Anonymous wrote:

I have an Everyday and went from $15.5k to $45k without an IV request.  Good luck!

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We've seen a handful of those of late. Yours is the third that I recall specifically. It's not yet enough to decide that there's been a policy change, but it's a ray of hope. The bottom line is that as long as you know the drill with the back button and that IV forms can be ignored, you can play around a bit.

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[PointsBonus]

I personally would not request for more than $33,750 which is 2.25% of your SL- this will do a few things.

1. If approved you will get it with no Financial Review

2. If countered you will still have a CLI

3. It won't make the system trigger for a Financial review and then you counter, which makes it seem like you countered because you didn't want them to review your financial.

Just my humbler opinion.

Keep us posted

[Anonymous]

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@PointsBonus wrote:

I personally would not request for more than $33,750 which is 2.25% of your SL- this will do a few things.

1. If approved you will get it with no Financial Review

2. If countered you will still have a CLI

3. It won't make the system trigger for a Financial review and then you counter, which makes it seem like you countered because you didn't want them to review your financial.

Just my humbler opinion.

Keep us posted

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You don't get a Financial Review by simply requesting a credit line increase.  Amex might as for a Form 4506-T in order to review your income but that's not the same as a FR.  A Financial Review is basically similar to a tax audit and it is much more invasive than being asked to provide a Form 4506-T.

[PointsBonus]

Good catch ! Sorry, I didn’t mean Financial Review I meant the Form 4506-T, verification of income.