AmEx 3x CLI declined :(

[Anonymous]

yeah because think about it. if you get approved for $3k (which is low and possibly average) then you can get it to $9k in UNDER 2 months, in 6 months get it to $25k without documentation (most likely, ymmv of course) and so in around 7 months you go from $3k to $25k... tell me why that's reasonable or needed lol. they were crazy for doing that.

[Anonymous]

i would like mine to at least match my nfcu at $5k, although it isn't necessary

[Anonymous]

I did think that was absurd when I read about it, but I certainly wouldn't mind! I'm sure the people who got it didn't mind either, though perhaps a large enough number of them got in trouble and caused AmEx to re-evaluate their policy.

[Anonymous]

of course it's nice, but lenders have X dollars they can lend for credit cards and when you're over lending you're limiting how many people you can lend to. i would rather lend 4 people $5k than 1 person $20k beside odds are i will make more off of those four people than that one.

[Imperfectfuture]

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@Anonymous wrote:
of course it's nice, but lenders have X dollars they can lend for credit cards and when you're over lending you're limiting how many people you can lend to. i would rather lend 4 people $5k than 1 person $20k beside odds are i will make more off of those four people than that one.

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Agreed.

[Discover2016]

Sucks about the denial! When you do a 61 day CLI, does it have to be exactly 3x of CL? Or can you do a more modest request? Such as for example: $3,000 to $5,000? I plan to apply for the Amex BCE in a few months and I am curious about that.

[Anonymous]

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@Arielnyc2006 wrote:

Sucks about the denial! When you do a 61 day CLI, does it have to be exactly 3x of CL? Or can you do a more modest request? Such as for example: $3,000 to $5,000? I plan to apply for the Amex BCE in a few months and I am curious about that.

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You don't have to ask for 3X but there is no reason not to as they will counter offer if they want to give you less.  And there is no such thing as a 61 day CLI any longer.  You can ask for one at anytime after you activate your card.

[Imperfectfuture]

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@Arielnyc2006 wrote:

Sucks about the denial! When you do a 61 day CLI, does it have to be exactly 3x of CL? Or can you do a more modest request? Such as for example: $3,000 to $5,000? I plan to apply for the Amex BCE in a few months and I am curious about that.

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I started with 3500, and only raised it to 5k.  But got denial on SimplyCash.  Got to the root of the problem (not my fault), but could tell they were starting to tighten up.  Later part of June.

[kdm31091]

I feel there are reasons not to ask for 3x. Your limits vs income does come into play with apps. So if you dont need 3x on your Amex dont ask for it just because. You could be hurting future approvals.

CLIs lower utilization which is good but it doesnt mean thats the only factor and that you always should request the maximum. Unless you are very wealthy you can only have so much in credit. Tying up a ton of it in one card may be overkill if you wont go anywhere near it with usage.

[Anonymous]

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@kdm31091 wrote:
I feel there are reasons not to ask for 3x. Your limits vs income does come into play with apps. So if you dont need 3x on your Amex dont ask for it just because. You could be hurting future approvals.

CLIs lower utilization which is good but it doesnt mean thats the only factor and that you always should request the maximum. Unless you are very wealthy you can only have so much in credit. Tying up a ton of it in one card may be overkill if you wont go anywhere near it with usage.

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KDM, if it were up to you, no one would ever be able to ask for a CLI :-)

j/k