AMEX 3x cli question/stratgy

[dynamicvb]

So I'm coming up on my 61-day mark with my Cash Magnet. I was reading the definitive guide a few weeks ago and it said some have gotten these earlier, so I pulled the trigger early and got a 7-10 day message, then an email to call. I called and the rep told me they could not offer me anything right now and would be sending me a letter. I asked if I was just too early and the answer yes I needed to wait 60 days.

Anyway, the letter has never arrived. Maybe just slow because of the hurricane or maybe he never processed it since he told me the reason. 

Anyway, next Tuesday is my 61 day of opening the card and I was considering trying again, but then got to thinking. Since AMEX pulls EX for CLI's and my EX is a few points lower now than when I got the approval, perhaps I should wait until January when I can request an EE from EX on my BK 13 and the other two negative accounts left on it before trying again. I am expecting to go solidly into the 700+ range once these fall on the CRA. I don't really have a need for the CLI right now and by then I will have some positive payment history with them and a higher EX score.

I just don't want to blow my chance of growing this card to 12K, if the 3x cli only works at the 61-day mark. Does anyone have an insight or see an issue with me waiting another couple of months? and perhaps requesting on the 120 day mark?

[ChessChik47]

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@dynamicvb wrote:

So I'm coming up on my 61-day mark with my Cash Magnet. I was reading the definitive guide a few weeks ago and it said some have gotten these earlier, so I pulled the trigger early and got a 7-10 day message, then an email to call. I called and the rep told me they could not offer me anything right now and would be sending me a letter. I asked if I was just too early and the answer yes I needed to wait 60 days.

Anyway, the letter has never arrived. Maybe just slow because of the hurricane or maybe he never processed it since he told me the reason. 

Anyway, next Tuesday is my 61 day of opening the card and I was considering trying again, but then got to thinking. Since AMEX pulls EX for CLI's and my EX is a few points lower now than when I got the approval, perhaps I should wait until January when I can request an EE from EX on my BK 13 and the other two negative accounts left on it before trying again. I am expecting to go solidly into the 700+ range once these fall on the CRA. I don't really have a need for the CLI right now and by then I will have some positive payment history with them and a higher EX score.

I just don't want to blow my chance of growing this card to 12K, if the 3x cli only works at the 61-day mark. Does anyone have an insight or see an issue with me waiting another couple of months? and perhaps requesting on the 120 day mark?

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You're fine to wait, OP...the 3x can work anytime past the 61 days. Good luck!

[Felony_Phil]

You can wait until your score comes up or you can request and if you get denied... you'll be waiting at least 91 days... your choice. Either way, you'll be waiting.

[Anonymous]

Last weekend I read through the entire 479 page thread. I did notice that pretty much everyone with a BK on their reports got denied their 3XCLI on day 61 for just that reason.

IMO, I'd wait till it falls off, but if you go ahead & request on day 61 and do get denied for that reason, you only have to wait 90 days to try again and by then you'd have requested your EE for the BK and it would be off your reports.

So maybe it does make sense to try instead of wait.....the timing is in your favor if you do get denied on day 61.

Good luck to you!

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[AverageJoe1970]

I have found AMEX to be exceptional at automatically increasing credit limits. When I opened my first account they gave me a limit of $2500 (my other cards all had limits over 10K - except for 2 old CapOne cards). Within 3 months, they had automatically doubled my limit and within a year, it was over 10K. Now that card has a limit of $25K - entirely automatic.

I know how much people want to get CLIs... I was one of them. I suggest you chill and let the account age, let your credit score improve. Put it into heavy rotation and keep your utilization super low.

@dynamicvb wrote:
. . . . I don't really have a need for the CLI right now and by then I will have some positive payment history with them and a higher EX score.

I just don't want to blow my chance of growing this card to 12K, if the 3x cli only works at the 61-day mark. Does anyone have an insight or see an issue with me waiting another couple of months? and perhaps requesting on the 120 day mark?

[dynamicvb]

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@Anonymous wrote:

Last weekend I read through the entire 479 page thread. I did notice that pretty much everyone with a BK on their reports got denied their 3XCLI on day 61 for just that reason.

IMO, I'd wait till it falls off, but if you go ahead & request on day 61 and do get denied for that reason, you only have to wait 90 days to try again and by then you'd have requested your EE for the BK and it would be off your reports.

So maybe it does make sense to try instead of wait.....the timing is in your favor if you do get denied on day 61.

Good luck to you!

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Thanks for that information. I had not read the entire thread and missed this. I think I will just wait until I can get the EE on my BK.