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American Express Wait 5-6 months?

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Frequent Contributor

Re: What to do if requested information is needed?


@ALK11 wrote:

Isn't the obvious answer here to provide them with the requested information? If they request it, why not just give it to them?


Yes...but sometimes people are afraid to furnish info because it could lead to AA if the bank determines their use/income is not sufficient to the request. I agree with you though, why not just provide the info! 






Message 11 of 22
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Moderator

Re: American Express Credit increasement back button browser

@californiadreaming87, you can also reference the following link, especially the most recent/last few pages, to gain some context on the 3x CLI process and what some individuals have done to leverage those efforts.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811...
Message 12 of 22
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Regular Contributor

Re: American Express Credit increasement back button browser

Thank you for the reponses everyone!

 

I'll wait it out for a few days and apply for 3 times the credit limit. I'd prefer not to have to submit financials. My income vs what I actual bring in are above my work income and I would rather not submit this intel to Amex.

 

Example I make over $100,000 per year give or take $5,000. But my bank account shows that I have over $250,000 in income coming in each year from investments. that I do not want to share with American Express. Everyone has their reasons. I love Amex and would trump my two Amex cards above all other 20 plus credit cards that I have.

Message 13 of 22
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Regular Contributor

Amex credit line increasement

When applying for an Amex credit line increasement, should you have a balance on your card? I always keep it paid to a 0. I have a $9,000 credit limit but have $1,500 use on the card this month from a trip to the beach. 

 

I plan to request a line of credit increasement 3x in 2 days. Would you pay the balance off or partial?

Message 14 of 22
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Community Leader
Senior Contributor

Re: Amex credit line increasement

I’d pay it off simply because AmEx already knows you spend on the card. You don’t need to keep a balance on it for them to know you use it. Paying it off shows them again that you handle your debts. In my eyes, that would make your position stronger.


Rose Gold NPSL | BCP | Delta Gold | Hilton Surpass | Hilton Honors | IT Cash | IT Chrome | GHS Visa Plat | Quicksilver | Target | VS | Home Depot | Lowes | Firestone | Wayfair | Overstock | Kohl’s

5/24, 1/24, 76445/24, who cares #HappyWithAmex





Entering the garden 5/27/2019, staying until 2020
(Lol so much for that grand plan...)
Message 15 of 22
Highlighted
Frequent Contributor

Re: Amex credit line increasement


@californiadreaming87 wrote:

When applying for an Amex credit line increasement, should you have a balance on your card? I always keep it paid to a 0. I have a $9,000 credit limit but have $1,500 use on the card this month from a trip to the beach. 

 

I plan to request a line of credit increasement 3x in 2 days. Would you pay the balance off or partial?


I've never had an issue getting an increase with AMEX with a balance reporting.  I guess it's YMMV.  If the rest of your profile looks good, I don't think it matters.  Using $1500 of $9000 isn't high utilization at all for that card.  What's your overall utilization and EX score looking like?

Message 16 of 22
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Community Leader
Senior Contributor

Re: Amex credit line increasement

You're going to be fine with either choice… or anything in between.

Message 17 of 22
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Super Contributor

Re: Amex credit line increasement

I agree with everyone else.  What matters is your spend/payment pattern, specifically whether or not you're paying in full.  You could be spending $8999/mo on that card and paying in full that $8999, but reporting an $8999 balance all the time (maxed out).  This wouldn't be a negative at all in their eyes (although it would hurt your FICO scores), as you'd be showing them that you're a low risk Transactor that's paying in full every cycle.  In fact, you'd be showing them that they (not just you) could possibly benefit from giving you a [large] CLI, as perhaps that $9000 limit is your constraint to spending more.

Message 18 of 22
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Established Contributor

Re: American Express Wait 5-6 months?


@dragontears wrote:
They are sticklers for that 6 months, in fact you will get denied if you request an increase 179 days after your last one

So if I get denied when asking after 60 days, I have to wait another 60 days before they'll (possibly) approve another request? I mean, they let you request until you're blue in the face, but they won't give you an actual increase until that 60 days has passed from the initial request? Did that make any sense at all? lol

I think I've found the sacred map that may lead me to this garden everyone keeps talking about.



Officially collection free as of 3/19/19!!
STARTING SCORES: 377 (11/2013) & 580 (3/2018)
Message 19 of 22
Highlighted
Regular Contributor

Re: American Express Wait 5-6 months?

If Amex just gave me a CLI without me asking can I ask for another one or do I have to wait 180 days?




Message 20 of 22
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