AMEX - Approval very low

[Anonymous]

Just was approvel for the godl skymiles with a paltry $1k limit. I have really good credit info (775 on their pull, not late / derogatory marks or anything). I have to spend $3k to hit the signup bonus, which is hard with a $1k limit. 

Short of waiting 60days what can I do to get the limit up? I tried calling a couple times with no success. 

[Anonymous]

Any past history with Amex before this one?  Years ago?

[Anonymous]

Nope. Entirely new to Amex. 

My wife also applied for the same card, and got a $10k limit. We have very similar credit reports, although AMEX pulled a higher score for me. This really throws me off. 

[Shadowfactor]

There’s not really a whole lot you can do if you called to recon the limit.

Amex just needs to see some history with usage and payments and they will open up to you big time. Something made them start on the low side ? Any ideas what ? High Util ?

You said your score was 775 ? Is that FICO?
What about new accounts ? Total credit lines to income reported ? New inquiries?

[Anonymous]

You don't have to call them before your account reaches at least 2 months, as it most likely won't help. So your best bet is actually waiting for 61 days and request the 3x increase.

Alternatively you can make payments when your balance is getting high before the statement cut so you can get the available credit back. This is not a credit limit increase, though.

[Anonymous]

My Util is low (<5%). I pay off every card in full every month. 

New accts: most recent prior opened was Sept. 15.

Inquiries: Bought a house 2 months ago. I have 2 inquiries showing there. I also applied for a couple cards now that I don't have to maintain credit for the home purch. So has my wife tho. The total showing in 2 years is probably 5 or so.

[Anonymous]

Please list your bank cards (not store or credit union) and their credit limits.

Amex definitely relies on the "prybar effect" to decide what limits to offer people.  FICO score doesn't matter as much as the prybar with Amex.

[Anonymous]

That's probably the problem. 

I have a chase at $4k. 

I'm an AU on capital1 at $10k.

I just opened 2 lines at $24k, and $30k, but those were approved, but not posted when I did the AMEX app.

[Anonymous]

Hmm that is incredibly interesting.  That Chase at $4k should have been matched or beat by Amex -- I would have guessed $5000 SL if you posted before apping asking for guesses.

May not hurt to call Amex collections and ask if you have any negative history with them, just to make sure.

[Anonymous]

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@Anonymous wrote:

Please list your bank cards (not store or credit union) and their credit limits.

Amex definitely relies on the "prybar effect" to decide what limits to offer people.  FICO score doesn't matter as much as the prybar with Amex.

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What is prybar? searched forum...no luck