I want to ask for the 3X CLI with amex again this would be 3rd time, last 2 requests were met with a denial due to my fico score too low. Now my score is 675 and carrying small balances on my cards with them. I read balances dont matter much. I will call in to the credit limit specialist this time and see what they say. I really dont want another denial because my first amex card is 1 year old now and never got an increase on it yet, and i want to transfer my limits around to my Hilton Surpass and Blue Business.
Starting Score: 512
Unfortunately, due to your lower score the chances of being approved for 3x is highly unlikely. You may get something, but Amex doesn't tend to open up until you get to about 700. Plus, they use 1-2 month old pulls for the decision so if it's a recent increase, they probably won't see it.
My most recent pull from my EX Fico from Amex is 675. Its currently 682, so even though its in the "Good" range, id have a higher chance closer to 700 ?
@Mdowning30 wrote:My most recent pull from my EX Fico from Amex is 675. Its currently 682, so even though its in the "Good" range, id have a higher chance closer to 700 ?
Amex has no problems extending credit to people with fair to good credit. They just keep them on a short leash. Obtaining a core card or growth typically requires 690+ scores for the best results. Since you're close you might get something, but it's highly unlikely to be 3x. The fact that your Hilton has a $1000 limit further backs that as it's considered a borderline approval. There are reports of people growing that limit fairly quickly, but the majority report 2-3 years or scores hitting 700 before having any change.
Agreed with the other posters I was denied multiple times for CLI but once my scores were in the 700+ range the purse strings opened and I was able to get increases on all my Amex cards
I am sorry to hear about your denial! I will share my experiences with this situation and hopefully it will help you. When I got my first Amex card in my name, the Blue Cash Preferred (I was an AU on my Dad's Amex before getting this), I got approved with a score of 720 on Experian. Starting limit was $10,000.
I had been applying for a few other cards around this time that also pulled Experian so my Experian Score dropped down to 712. When I asked for my limit increase they denied me for my score being too low.
I waited 6 months to ask again and by then my score had bounced back to 735 on Experian. I asked for 2x my limit and they approved me for $20K. Didn't wanna do 3x since that would put me at $30K on one card.
I have found that 712 seems to be too low for a limit increase so I am guessing your current score is likely also too low to be granted a limit increase. Also as others have mentioned Amex tends to use a credit report for their soft pull that is 1-2 months old. So when your score gets above 700 you'll probably want to wait a month or 2 before making your limit increase request. Best wishes to you when you try again!
I have a different take on this. My first Amex (Blue Cash Everyday) was a borderline approval - probably around 640 when approved, with an $1800 SL. Used it as my primary, and asked for 3x at 91 days, with approval for full 3x when my score was barely over 650. After 181, asked for another 3x, when score was mid 670s, and was again approved for full 3x. After the next 181, I was over 700, but not by alot, and while I didn't request another 3x, I did get another increase.
If your profile supports it, and your usage is what they like, they'll approve it. I was using mine for everyhting, and PIF every month. I have never carried a balance with Amex, as I've always heard that even witht their revolvers they want PIF. If you're floating a balance (even a small one), trying PIF for a couple of months.
My FICO on their app is 675, my Vantage 3.0 on their app is 693. I usually do both, i PIF statement balance when possible and sometimes carry a balance.