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Amex BCP CLI Question

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Super Contributor

Re: Amex BCP CLI Question

Yes, I'm catching up now.

 

3X = 3x your current CL as the limit to how high you can go for your credit limit increase. So from your initial $3k, you could have asked for $9k at that moment.

 

It is not " Three requests for CLI and then you stop ".

 

If you are certain you want only this one AMEX card (I'd be sad if that were my situation) and you really want to max out the credit limit, then go 3x this current limit, ask for $38k. They will likely come back and request you submit a form 4506-T which gives them access to your last two years filed tax returns, to verify income. As long as that reported income is in order, you will find out what your max AMEX Revolver limit will be, and can end the games for how to ask for which CLI amount Smiley Happy

 

Although there IS a fun version of this game you could play. Every 183 days, just ask for a $1,000 CLI, and be happy that it is quietly accepted. You could play this game for years and likely be very happy with the results.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 11 of 17
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Mega Contributor

Re: Amex BCP CLI Question


@NRB525 wrote:

Yes, I'm catching up now.

 

3X = 3x your current CL as the limit to how high you can go for your credit limit increase. So from your initial $3k, you could have asked for $9k at that moment.

 

It is not " Three requests for CLI and then you stop ".

 


It hadn't occurred to me that the 3x CLI could be interpreted in this way.   But now that someone clearly did, thinking about it, it seems that this would be the "natural" meaning.  Wonder if others have been confused in the past and stopped after 3 times.

Message 12 of 17
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Super Contributor

Re: Amex BCP CLI Question


@longtimelurker wrote:

@NRB525 wrote:

Yes, I'm catching up now.

 

3X = 3x your current CL as the limit to how high you can go for your credit limit increase. So from your initial $3k, you could have asked for $9k at that moment.

 

It is not " Three requests for CLI and then you stop ".

 


It hadn't occurred to me that the 3x CLI could be interpreted in this way.   But now that someone clearly did, thinking about it, it seems that this would be the "natural" meaning.  Wonder if others have been confused in the past and stopped after 3 times.


oh, the horror... the horror...

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 13 of 17
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New Contributor

Re: Amex BCP CLI Question

Thanks to all for all the helpful feedback. I think the “mega sticky post” labeled 3x CLI infers you can get X amount of increases 3x times then you hit the $25k paper wall. I’m actually disappointed now knowing I could have requested more but am glad we’re all on the same page and ppl understand why I did what I did with the 3x (going for my 4th now). The $1000 per XYZ days is also an interesting decent philosophy or approach. to pursue if you don’t need access to allot of cash sometimes.

Anyway. Glad all that’s sorted out now and feel better about going back to the well for my 3rd or 4th time. I’ll still keep below the $25k (35k?) paper 📝 wall though as I’ve got enough going on that I don’t need that hassle added right now with tax season here. But to someone else’s prior remarks about only having 1 (or 2) Amex cards? Help me understand that comment pls? I’ve got their Blue cash card and my Platinum - then a corporate green and an old Plum card for ages ago (now discontinued IIRC) and looking to beef up our Corp side. But I’m assuming you’re saying get more than 2 personal Amex cards? What else is there and why? The AF for the platinum I have no issue with because a few biz trips and pitstops in clubs with a shower 🚿 so sweet! and luggage fees takes care of that to break even after just one international trip. I’m just trying to understand your long term game or rationale? Can you get 2 Amex blues cards with $25k each vs 1 Amex blue with 50k? Six one way - Half a dozen the other, no? unless your floating something between cards?

Anyway. Thanks for all the helpful and positive feedback. Am gonna wait till business hours to apply again so if there’s any snags it’ll get addressed immediately.

Cheers

BB
Message 14 of 17
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Established Contributor

Re: Amex BCP CLI Question


@BoozeBaron wrote:
Thanks to all for all the helpful feedback. I think the “mega sticky post” labeled 3x CLI infers you can get X amount of increases 3x times then you hit the $25k paper wall. I’m actually disappointed now knowing I could have requested more but am glad we’re all on the same page and ppl understand why I did what I did with the 3x (going for my 4th now). The $1000 per XYZ days is also an interesting decent philosophy or approach. to pursue if you don’t need access to allot of cash sometimes.

Anyway. Glad all that’s sorted out now and feel better about going back to the well for my 3rd or 4th time. I’ll still keep below the $25k (35k?) paper 📝 wall though as I’ve got enough going on that I don’t need that hassle added right now with tax season here. But to someone else’s prior remarks about only having 1 (or 2) Amex cards? Help me understand that comment pls? I’ve got their Blue cash card and my Platinum - then a corporate green and an old Plum card for ages ago (now discontinued IIRC) and looking to beef up our Corp side. But I’m assuming you’re saying get more than 2 personal Amex cards? What else is there and why? The AF for the platinum I have no issue with because a few biz trips and pitstops in clubs with a shower 🚿 so sweet! and luggage fees takes care of that to break even after just one international trip. I’m just trying to understand your long term game or rationale? Can you get 2 Amex blues cards with $25k each vs 1 Amex blue with 50k? Six one way - Half a dozen the other, no? unless your floating something between cards?

Anyway. Thanks for all the helpful and positive feedback. Am gonna wait till business hours to apply again so if there’s any snags it’ll get addressed immediately.

Cheers

BB

Amex doesn't have a known cap on number of cards you can have, whether personal or business. That being said, they usually cap people at 5 revolving credit cards, though they have been known to give people 6 or even 7, at times. There is also no known cap on charge cards, nor is there known to be a limit for overall credit issued to you. Of course, this is all YMMV and probably dependent on your income, credit history, history with Amex, and more factors that us mere mortals will never know. 

 

Anyway, feel free to ask for triple what your current limit. It's easily done online and doesn't take more than a couple minutes. If they ask for income verification, simply hit the "back" button on your browser and try incrementally smaller limits until they approve you without asking for an IV. 





[2/2019]
Message 15 of 17
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Super Contributor

Re: Amex BCP CLI Question

With the AMEX cards you have, you are split between Cash Back and MR Points. That's fine if you want to do that, but it can mean you aren't building up oodles of MR points for meaningful redemptions.

 

Does the Corporate Green apply to a business you own, so you get the MR, or it's just a true corporate card for reimbursed expenses?

 

There are a whole list of Personal cards, such as the Gold, which contributes MR for dining and groceries, or Co-Branded cards for various levels of benefits on Delta, with Hilton, or Marriott. If you want a Personal "Blue" card that contributes MR, then the EveryDay or EveryDay Preferred do that. With multiple MR cards, everyone is rowing in the same direction.

 

On the Business side, Business Gold gets MR points in several categories.

 

If you want to just max out this one Personal card, that's a choice you can make. But it sounds like you may not have looked at the rest of the AMEX cards available. Might be worth a bit of research before pulling the trigger on the CLI. Even if you do the Max CLI, the CLI is not the end of the road. You can still app for other cards, and they will reallocate Credit Limit to those other cards, if you already maxed out your total available limits with AMEX.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 16 of 17
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New Contributor

Re: Amex BCP CLI Question

Well.... this just got ugly - wasn't expecting THIS response from my Amex CLI....

 

(before I forget, thanks to all for clarifying things with my many Q's before this - Live and learn I suppose)

 

That said, I paid everything down to 12% util b/c part of the reason I'm trying to get my Amex Blue CLI bumped up, is I have an engagement ring/wedding in the near future and as I look at my various cards and savings, and knowing some of the expenses coming up (honeymoon mostly) I just don't want ANY issues to be stressing over after the big day and the door shuts on our flight to the S. Pacific for 3 weeks (voice of experience there as I tried juggling a similar situation 15 yrs ago on just 2 CC's with lower limits) Back then I made 25% of what I do today and didn't know hotels and rental cars placed holds or charged your full stay on your card upon check-in and that ate up my credit line as we traveled - That made for a couple of "McDonald's breakfasts" in Maui - not exactly the most romantic way to kick off a marriage, let alone ones honeymoon - But that was then - this is now...

 

All that aside (and all that was totally off topic - so don't mind me - my head is spinning atm) But I pulled my EXP report looking for my last Amex soft pull, and couldn't find ANY?? And much to my dismay, when I checked my score (direct from EXP via post mail) it's still the same score as it's been for the past 9 months? (during which; I was issued a personal Amex Rose Gold and Platinum Biz card??) - So I honestly don't know what more EXP want from me?

 

My TU AND EQ scores are still climbing and are now almost 80pts higher than my EXP score(?!?) and when I checked online thru Amex's "check your FICO score" it was 3 pts lower than the prior reported value - but still within their "good" window... so decided to go ahead to pull the CLI trigger but only requested $6K (from $12K) as I thought that was reasonable and not insane like doubling to $24K or more (the 3x CLI thing again) and was also ready to hit the back button or receive a counteroffer - but honestly, after 12 months since my last CLI (and all those having been instantly approved and this only being my 3rd request in 2 yrs) - I wasn't overly concerned about having to play any 'back key' games - though I was prepared to take on a counter offer... INSTEAD? Well, I got the infamous K.O.D. (kiss of death): when I hit submit - and got instead the "7-10 notice" - Say WHAT?

 

Request a Line of Credit Increase Your request for a line of credit increase has been submitted. You will receive a written response within 7-10 days. AUGH!

 

So - Now I'm slightly freaked out / and quietly kinda ticked off - as I'm 99% certain a post mail rejection letter is now coming my way... Grrrr.... I can only imagine if I'd gone for $24K? (the next logical progression ($3K-$6K-$12K-$24K).... In reading other posts on myFICO about Amex CLI's, plus our exchanges here within this thread, of all the possible responses.I was prepped to respond to (along with "CONGRATS, HERE'S YOUR CLI !!- Bzzz wrong) - So yeah - I am pretty gutted this morning never expecting this - So I'll see what they have to say in their denial letter (based on what I've read, I've yet to hear anyone say it's "good news" and approved - right?) - $6K won't trigger an IV I don't think? - or pray it doesn't - Someone above says you can ignore that if they do mail me one? (IV) - I was just reading the fine print before hitting 'SUBMIT" for my CLI request, and had some interesting language surrounding IV and that your 'overall relationship would be re-assessed with AMEX') - That sent. a chill down my spine... So I dunno ... I can't imagine why this was denied?? (and found that the 7-10 day thing removed the backspace / resubmit option too) Wasn't prepared for that either. Has anyone ever been approved with the 7-10 day letter thing? I've never heard of anyone getting good news? I also see allot of ppl upset or pissed with AMEX for not getting approved on their 3rd try after 90 days (or whatever the tight schedule is) - and I can def understand Amex being careful there - But 12 months since my last request?? and I pay when my statement arrives (electronically) that day - and never go over 5% Amex balance - I can only think that the credit score drop from the holiday is the red flag that got me? I dunno (oh, so my point was - unlike others' moaning about not getting approved on their 3rd try after just 90 days or whatever)

 

I'm in no way upset as Amex and Discover (and Synchrony) have all treated me like gold since getting my 1st card from each - and been very generous getting me to this point from just 2-4 yrs ago... so I have no room to complain - I just wish I could sort out this Bankcard09 system on EXP as they're killing me anytime I hit a merchant that uses EXP only....

 

The hardest card for me to get was my Barclays Elite M/C ... I got denied and had to backdoor call them 3x before finally getting someone willing to hear me out and once they heard I had Barclay's London accounts, and she then pulled my TU and EQ reports too- (this was like 11 months ago now) but those were near 800 yet EXP was dragging me down (yet again) but only had 2% util etc etc - and she finally approved me for $5K to start and since then have built that up to around $14K... but they aren't fooling around - but point was. once I got a reasonable CSR and I proved my case - she approved me instantly over the phone - But all 3 bureaus took a HP hit and are still on my reports even today - but should drop off either this month or next - I guess what I'm saying is I was feeling good about asking Amex for a CLI after waiting a year and if one can get Barclays to approved you for a M/C Elite - and Amex has treated me so well to date - plus I was requesting only1/2 of what most ppl would request - I just wasn't expecting that response??!! So I dunno...

 

Sorry, I just needed to vent - for of all the outcomes I was expecting (approved.- Denied hit // the back button - or a counter offer) the 7-10 day letter was NOT even on my radar - and so I guess as everyone says "YMMV" when it comes to CLI's ....

 

I'm not sure what I'm gonna do with EXP either? I called them 2 weeks ago when 3 HP's mysteriously popped up on my report one night and got an email alerts from them warning me of the change - but by the time I called the 3 affected cards that were supposedly 'hit' they had no record of anyone doing anything?? - So I logged back onto EXP and then they were gone??? (thankfully I screen grabbed them before they were removed) but point is the 1st CSR I spoke with said it was a computer glitch b/c my monitoring service was expiring (which was incorrect) then the next lady I spoke with - just woke up on the wrong side of the bed and wasn't hearing me - so I requested a Mgr. - and she wasn't much better - as they all said there were no new hard pulls - but that took my EXP HP tally from 2 to 5 overnight! and pulled my score down some too - but then the next day all the freebie score sites that showed the new INQ's too - they they removed them too?? So who knows what happened? - but whilst they removed the erroneous HP's and am back to just 2 now - my score did NOT go up?? so I'm at the end of my rope with EXP and their 'system' -

 

Sadly my banking and savings and mortgage are all tied to Wells Fargo who just changed from Backcard08 to 09 (which is supposed to de-emphasize any medical bills) yet my score dropped another 15 pts with Bankcard09?? Yet with TU and EQ my scores shot up +37 pts?? so I don't know how to fix this? My payment history is 100% perfect and usually PIF - my UTIL is around 12%, and after today (1st) will go back to less than 10% .. and have no baddies on TU or EQ - just that 6 yr old ER bill I paid 1/2 of (insurance was supposed to cover it ALL) but wanted it off my report ASAP so paid as much as I could 6 yrs ago - yet they're now holding out for the other 50% (it's only $388 left and would gladly pay that too, but I want the record deleted too - but the C/A won't do it ... (you know they paid 10 cents on the dollar to get my account) so I dunno...

 

Again, sorry for the lengthy rant and please don't feel obligated to reply to anything I've said - unless you have a top secret backdoor password to EXP where I can up my score LOL Smiley Happy But seriously, I just don't understand EXP and what more I can do to get my score back up?? And def don't know why things with Amex went off the rails too?

 

I show places my TU and EQ scores (almost 800 now) and then they pull my EXP and they can't figure out the disparity either? So I am out of answers... Guess I'm saying if you're doing the 3x CLI with Amex and things aren't as good as they were when you did your 2nd CLI - don't be surprised if you get the "7-10 day letter" response...

 

If anyone has any wisdom to add - I'm all ears? Otherwise - how long do I have to wait w/Amex now? 90 days? I'll just leave it as I'm okay with what I have on my other cards - but just wanted a $$ cushion for the wedding/honeymoon - Oh well - will give that biz to Discover and Barclays!

 

Peace -

 

BB

Message 17 of 17
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