American Express Wait 5-6 months?

Five6Two · ‎04-10-2019

@Anonymous 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!

Siggy under construction

FinStar · ‎04-10-2019

@Anonymous, 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/1811071

Anonymous · ‎04-10-2019

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.

Anonymous · ‎04-16-2019

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?

Anonymous · ‎04-17-2019

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.

ChessChik47 · ‎04-17-2019

@Anonymous 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?

HeavenOhio · ‎04-17-2019

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

Anonymous · ‎04-17-2019

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.

Queen_Etherea · ‎04-17-2019

@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.