AMEX CLI

[Anonymous]

My 61 days on the BCP is coming up in 6 days.  The latest Fico 8 Amex has pulled is 7 points lower than when I opened and if they pull fresh it will likely be ~19 points lower than when I opened it.  The inquiries and card openings from my spree had that much of a hit.  Should I still click the luv button or should I give it a few months to let the dust settle before I try?

[AverageJoesCredit]

Having your report looking its best is optimal but if you are ok giving it a try and not getting it and dont mind waiting some more time, id say go for it, you never know

[Anonymous]

My other concern is that AMEX is doing the AMEX thing.  I have received 2 statements and the card is still not showing on any of the bureaus.  It could set me back a bit because it is a new young TL, but it also puts me across the 3K revolving creit limit.  I have seen a few places mention that 3K is an important mark for some FICO scoring models.

[Anonymous]

Obviously you want to wait for it to show up on your report so they know the account exist.

[K-in-Boston]

I don't want to smash your dreams, but I don't think a CLI is very likely with your current EX score.  The CL and score point to a marginal approval, and many people get denied for Amex CLIs with scores 70-100 points higher.  Stranger things have happened, though.  If you try at 61 days, the worst that can happen is they say no and you have to wait 91 days to ask again.  During that time hopefully you'd have a chance to get your scores boosted up.

[Anonymous]

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@K-in-Boston wrote:

I don't want to smash your dreams, but I don't think a CLI is very likely with your current EX score. 

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No worries.  I am well aware I got lucky with the BCP at this phase of my rebuild.  Just having the card in my wallet is still shocking to me!

I was under the impression the NO triggered a 181 day wait.  I checked today for the precise scores and they approved me at 642, but they pulled again over the weekend and I was 618.  I doubt my EX will be over 642 again until November, so I may as well hit the button at the 61 day mark and try my luck.  I have been charging well over my credit limit each month, but making weekly payments of the entire balance.  I then pay the whole balance a few days before my statement and just let a few small ticket items show on the statement itself.  I am trying to show them as much love as I can to express how much I appreciate them taking a chance on me.  

[K-in-Boston]

Yes is 181 days, no is 91 days (unless the no was because you were not eligible due to the amount of time that has passed which won't reset the clock). It sounds like you've been using the card quite a lot and have shown them that you actually need a CLI, so it could well be worth asking! Best of luck!

[Anonymous]

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@Anonymous wrote:

My 61 days on the BCP is coming up in 6 days.  The latest Fico 8 Amex has pulled is 7 points lower than when I opened and if they pull fresh it will likely be ~19 points lower than when I opened it.  The inquiries and card openings from my spree had that much of a hit.  Should I still click the luv button or should I give it a few months to let the dust settle before I try?

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Perhaps some data points might help in making your decision. When I applied and got approved for the BCE my EX Fico was 742, did a mini app spree between March and April adding Discover, the BCE and the Green Card, brought down the age of my accounts and had a significant hit on my score, from 742 i saw it going down to 708 then to 692 at the time when my 61 days were up. Needless to say, I was denied when I requested for the CLI because of high internal risk score and recent applications seeking credit hurt my chances to get the CLI, so even if my score was still considered good as a FICO score, rememer that AMEX has an Internal risk scoring criteria that gets factored in as well. You will optimize your chances of getting approved for the CLI when you get close to near your original score or better, when you got the approval. Just keep using the card, pay it on time and give yourself a couple of mos. for your scores to rebound. I did just request for my CLI yesterday 91 days post my previous denial and finally got out of the 1K bucket. Patience is key and it's what I learned from this Forum. 

[Gregory1776]

Good luck to your CLI request in 6 days! Mine is tomorrow!! 😃😃 I'm very excited. I have not put as much spending on mine as you are, but I spent over a grand and PIF. I've only had two statements and the world doesn't know I have two AmEx accounts yet.... tomorrow I'm going to put some pay some of my card and call for the CLI. 

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@Anonymous wrote:

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@Anonymous wrote:

My 61 days on the BCP is coming up in 6 days.  The latest Fico 8 Amex has pulled is 7 points lower than when I opened and if they pull fresh it will likely be ~19 points lower than when I opened it.  The inquiries and card openings from my spree had that much of a hit.  Should I still click the luv button or should I give it a few months to let the dust settle before I try?

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Perhaps some data points might help in making your decision. When I applied and got approved for the BCE my EX Fico was 742, did a mini app spree between March and April adding Discover, the BCE and the Green Card, brought down the age of my accounts and had a significant hit on my score, from 742 i saw it going down to 708 then to 692 at the time when my 61 days were up. Needless to say, I was denied when I requested for the CLI because of high internal risk score and recent applications seeking credit hurt my chances to get the CLI, so even if my score was still considered good as a FICO score, rememer that AMEX has an Internal risk scoring criteria that gets factored in as well. You will optimize your chances of getting approved for the CLI when you get close to near your original score or better, when you got the approval. Just keep using the card, pay it on time and give yourself a couple of mos. for your scores to rebound. I did just request for my CLI yesterday 91 days post my previous denial and finally got out of the 1K bucket. Patience is key and it's what I learned from this Forum. 

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Wow, that's a big decrease in your scores.... my scores maybe went down 10 points on EX and EQ. 

[Anonymous]

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@Gregory1776 wrote:

Good luck to your CLI request in 6 days! Mine is tomorrow!! 😃😃 I'm very excited. I have not put as much spending on mine as you are, but I spent over a grand and PIF. I've only had two statements and the world doesn't know I have two AmEx accounts yet.... tomorrow I'm going to put some pay some of my card and call for the CLI. 

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@Anonymous wrote:

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@Anonymous wrote:

My 61 days on the BCP is coming up in 6 days.  The latest Fico 8 Amex has pulled is 7 points lower than when I opened and if they pull fresh it will likely be ~19 points lower than when I opened it.  The inquiries and card openings from my spree had that much of a hit.  Should I still click the luv button or should I give it a few months to let the dust settle before I try?

---

Perhaps some data points might help in making your decision. When I applied and got approved for the BCE my EX Fico was 742, did a mini app spree between March and April adding Discover, the BCE and the Green Card, brought down the age of my accounts and had a significant hit on my score, from 742 i saw it going down to 708 then to 692 at the time when my 61 days were up. Needless to say, I was denied when I requested for the CLI because of high internal risk score and recent applications seeking credit hurt my chances to get the CLI, so even if my score was still considered good as a FICO score, rememer that AMEX has an Internal risk scoring criteria that gets factored in as well. You will optimize your chances of getting approved for the CLI when you get close to near your original score or better, when you got the approval. Just keep using the card, pay it on time and give yourself a couple of mos. for your scores to rebound. I did just request for my CLI yesterday 91 days post my previous denial and finally got out of the 1K bucket. Patience is key and it's what I learned from this Forum. 

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Wow, that's a big decrease in your scores.... my scores maybe went down 10 points on EX and EQ. 

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It did take a big hit, but mainly because my Credit History is short. When I had applied for these three cards, my oldest account was 6 mos. old. The secured card was recently graduated to Unsecured platinum. So as each new account gets reported, my scores went down and it was depressing to look at, between March through May. Then when June came, my EX score got it's first 29 points increase. Raising it from 692 to 721 and will hopefully keep rising since I am staying put in the garden until all my inquiries fall off in 2019. By then my credit age would be significantly longer with more payment history to support one application for a Chase Visa Card.