AmEx CLI: Should I wait or Should I apply?

[Anonymous]

Hello and Season's Greetings!  As of January 5th (according to the Amex Chat CSR), I will be eligible to apply for my 61 3x CLI.  I've been using my card A LOT in the past two months.  PIF the first month and about to PIF yet again for this statement.  Utilization is 88% but I am paying it off, in an attempt to show that I will use the card, and that I am responsbile enough to pay the bill as well.  My opening credit limit is $1k.  

Here are the pertinent details:

24 Total Account

No lates/baddies on anything new.

1 judgement (medical) ready to age off in May 2015.  Other than that:  Clean reports.

Inquiries: 7

Total Credit Limit: $60.5 k

Total Used: $6.6k

Average Age: 4 years

Income:  just under 6 digits

Credit Scores as of today:  Walmart TU 675, MyFico Equifax 678, TU 702, Experian 732, Discover 718

Here's what scared me:  I applied for the Delta (Gold) AmEx shortly after I was approved for the Amex Everyday card and was denied due to "derogatory" accounts (meaning that 1 judgment which is ready to age off in a few months) and insufficient credit experience (I am guessing they were referring to some type of internal factor).  This happened in early November (the denial).

Should I wait for my medical judgment to age off before I apply for my CLI?  It's already been removed as a gesture of Goodwill by Transunion, but remains on my Equifax & Experian reports.  Experian is telling me to call back April 1st and they will consider a goodwill removal of the entry.  

Summarily, should I apply for the CLI or wait until my credit reports have been totally cleaned up and for more of a payment history with Amex to be established?

[coldnmn]

If your utilization is 88% I hope it's on that one card and not total utilization. If you get your total utilization down under 20% if it was me I would go for the 3x CLI. I would wait at least 6 months between AMEX cards to show responsibility with the response they gave you. Good Luck!

[Anonymous]

Yes, 88% utilization on the Amex.  I've ran the same utilization the 2 months I've had the card.  I'll make the PIF a couple of days before I apply (if I apply) for the CLi.  And, thank you for the input regarding waiting to apply between AmEx cards (6 months).  I can definitely wait 6 or so months!  

[DiabolicallyRandom]

You should be good to go after paying the balance off. I would just wait until the payment is processed and posted.

[tcr300]

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

[Anonymous]

---

@tcr300 wrote:

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

---

Thank You for the advice!  And, yes, I've been hitting a spending wall with the $1k limit.  They like lots of swipes, but that becomes hard to do with such a small credit line.  On the whole though, no complaints yet about AmEx, but having a larger credit line would be helpful.

[taxi818]

---

@Anonymous wrote:

---

@tcr300 wrote:

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

---

Thank You for the advice!  And, yes, I've been hitting a spending wall with the $1k limit.  They like lots of swipes, but that becomes hard to do with such a small credit line.  On the whole though, no complaints yet about AmEx, but having a larger credit line would be helpful.

---

its not exactly true they like lots of swipes. but they just want responsible use. you should be fine. but 88 percent is high. pay down at least. and yes its ok to carry a balance with amex. they know you have no choice with that 1k let us see if we can trust you limit.

[Anonymous]

---

@taxi818 wrote:

---

@Anonymous wrote:

---

@tcr300 wrote:

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

---

Thank You for the advice!  And, yes, I've been hitting a spending wall with the $1k limit.  They like lots of swipes, but that becomes hard to do with such a small credit line.  On the whole though, no complaints yet about AmEx, but having a larger credit line would be helpful.

---

its not exactly true they like lots of swipes. but they just want responsible use. you should be fine. but 88 percent is high. pay down at least. and yes its ok to carry a balance with amex. they know you have no choice with that 1k let us see if we can trust you limit.

---

Sound advice and well received!  I figured the $1k paltry limit was some type of test limit.  Hopefully, they see I've responsible and are receptive to increasing my limit.  I found out today that I can officially apply for a 61 day increase on January 11th.  I've already paid off the balance on my Amex account.  I know I will need to make some small purhases between now and the 11th, but I will keep it minimal (roughly $75-$100 on the $1k credit limit). 

[ojefferyo]

---

@Anonymous wrote:

---

@taxi818 wrote:

---

@Anonymous wrote:

---

@tcr300 wrote:

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

---

Thank You for the advice!  And, yes, I've been hitting a spending wall with the $1k limit.  They like lots of swipes, but that becomes hard to do with such a small credit line.  On the whole though, no complaints yet about AmEx, but having a larger credit line would be helpful.

---

its not exactly true they like lots of swipes. but they just want responsible use. you should be fine. but 88 percent is high. pay down at least. and yes its ok to carry a balance with amex. they know you have no choice with that 1k let us see if we can trust you limit.

---

Sound advice and well received!  I figured the $1k paltry limit was some type of test limit.  Hopefully, they see I've responsible and are receptive to increasing my limit.  I found out today that I can officially apply for a 61 day increase on January 11th.  I've already paid off the balance on my Amex account.  I know I will need to make some small purhases between now and the 11th, but I will keep it minimal (roughly $75-$100 on the $1k credit limit). 

---

You should try it now, I did the 3x on my Hilton card today and was approved. That's 2 weeks ahead of 61 days

[DiabolicallyRandom]

@ojefferyo wrote:

---

@Anonymous wrote:

---

@taxi818 wrote:

---

@Anonymous wrote:

---

@tcr300 wrote:

+1 imho.

Pay it off, assure that it's posted, and go for the increase.  They should understand you need a little more breathing room on the card I'd think.

---

Thank You for the advice!  And, yes, I've been hitting a spending wall with the $1k limit.  They like lots of swipes, but that becomes hard to do with such a small credit line.  On the whole though, no complaints yet about AmEx, but having a larger credit line would be helpful.

---

its not exactly true they like lots of swipes. but they just want responsible use. you should be fine. but 88 percent is high. pay down at least. and yes its ok to carry a balance with amex. they know you have no choice with that 1k let us see if we can trust you limit.

---

Sound advice and well received!  I figured the $1k paltry limit was some type of test limit.  Hopefully, they see I've responsible and are receptive to increasing my limit.  I found out today that I can officially apply for a 61 day increase on January 11th.  I've already paid off the balance on my Amex account.  I know I will need to make some small purhases between now and the 11th, but I will keep it minimal (roughly $75-$100 on the $1k credit limit). 

---

You should try it now, I did the 3x on my Hilton card today and was approved. That's 2 weeks ahead of 61 days

---

My spouse has gotten to auto increases from amex in the last two months. The first one in october and the second one this week.  Im not sure whether or not that is normal considering everyone here is generally requesting their increases.