AMEX with Steps help

[Anonymous]

Hello,

I spent past few months reading forums, but still have some questions. Let me first talk about my experience.

I have a checking with bofa since 2016, last january I applied for BofA everyday card and was approved with 1500$ cl. been using it without late payment, always paying in full after statement (always less than 30% of cli) . 3 weeks ago, the link to request cli appeared  so I tried (even if my fico score isn't available, because credit history was less than 6 months). I gave it a try with 5000$ and wasn't autoapproved. 24h i received an email with approval at 5000$.  I was so happy, I decided 2 days later to apply to amex bce (to receive univesal studios bonus) and I guess this was the strategic error I've made : I was approved but only with 500$ cl and with email steps stating that I needed to to carry balance for 6 months etc...

So my question, according to your experience, what would best move now : use my amex and request 3x after 61 days or wait for the 6 months period ? what would be the best usage ? less than 100$ statement every month and pif ?

Many thanks for your help !

[Shadowfactor]

Welcome to the forums.

Some things to note with Amex “credit steps”
1. Must let a balance report on each statement. You don’t need to carry a balance month to month and pay interest. You just have to let each statement cut with a balance.
2. You must make on time payments and pay atleast the minimum each month
3. Those who are offered the “steps” program normally do not receive a SUB.
4. Must complete all terms in email to receive 2X CLI after 5 statement.

Since you were placed on the “steps” program, you will most likely not be eligible for any kind of CLI before you complete the required terms laid out in the email. This includes the 61 day 3X CLI that is talked about on this forum.

The balance that reports is not important as long as it’s over $5-$10 bucks. Your statement just has to cut with a balance. Once it cuts you can then pay the amount you like. Always PIF if able to.

Use the card as much as you like, just try to keep the reported balances under 30% ideally under 8.9%.

[Anonymous]

thanks !
I asked the question because in another thread I saw that some persons requested 3x cli after 61 days and got approved (even with steps program)

Thanks again, any help is much appreciated.

[Anonymous]

Just use the card normally and pay in full if possible.  You will not get the 3X CLI at 61 days; if you request a CLI you will be auto-denied with an e-mail suggesting you call them.  If you call they will tell you that you applied too early.

When you exit the "credit steps" program at the end of 181 days (the e-mail says after 5 statement cuts) you will automatically receive a 2X CLI.  After the 2x CLI is granted you can immediately request 3x CLI.  Despite what the e-mail says you do not have to carry a balance but you have to make sure you use the card each month while in "credit steps."

---

@Anonymous wrote:

Hello,

I spent past few months reading forums, but still have some questions. Let me first talk about my experience.

I have a checking with bofa since 2016, last january I applied for BofA everyday card and was approved with 1500$ cl. been using it without late payment, always paying in full after statement (always less than 30% of cli) . 3 weeks ago, the link to request cli appeared  so I tried (even if my fico score isn't available, because credit history was less than 6 months). I gave it a try with 5000$ and wasn't autoapproved. 24h i received an email with approval at 5000$.  I was so happy, I decided 2 days later to apply to amex bce (to receive univesal studios bonus) and I guess this was the strategic error I've made : I was approved but only with 500$ cl and with email steps stating that I needed to to carry balance for 6 months etc...

So my question, according to your experience, what would best move now : use my amex and request 3x after 61 days or wait for the 6 months period ? what would be the best usage ? less than 100$ statement every month and pif ?

Many thanks for your help !

---

[Anonymous]

Many thanks.
I believe using it as little as 10-20$ per month is still okay ?
appreciate

[Anonymous]

That person had a significant credit profile and history that supported getting a 3X increase early.  In comparison, you may not even have a credit score yet so you should wait for a few months to develop a credit history.

Below is a summary of an Amex account that was in "credit steps."  Notice that a balance was carried only for Month 1 but the account still got the 2X CLI after 5 statement cuts (181 days).  Be sure to read the fine print in the Terms & Conditions section of the email you received.  Although the body of the email says you will get a CLI after 5 statement cuts, the fine print clarifies that it is actually a month later.

[Anonymous]

I am in Amex steps with BCP (SL 1000). They always decline my CLI requests since i have my BCP in January 2018. The last decline was right 5 days before I applied and got approved for Delta Gold and Hilton Honors in the same day for 6k each. I did not now the "2cards per day rule" And i don't care about CLI at least for now)

[Anonymous]

I literally came out of "steps" Monday. Got the BCE on 12/16 for $1200. The "steps" increase was for only $500 but I was pre-approved for nearly every card on Tuesday. Tried for 3x at 61 and 91 days but was auto declined.

Decided to app another card and got $15k on the Magnet. Possible Amex is "bucketing" certain people, a la Cap1, only time will tell on my BCE. Treat Amex right and they will take care of you.

[Anonymous]

Many thanks for the comments and examples given.

I will keep using it (at least 10-20$ ) for 6 months and PIF after statement.

as suggested, I won't request cli before leaving the steps program

[Anonymous]

@dimitrii @SinjCeridan

Did you guys receive emails from American Express specifically stating that you were in "credit steps?"