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Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?

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Established Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?


@Caught750 wrote:
+1, income verification is dependent on several things. There is no set number. There are common themes, but nothing set in stone.

Agree with above.  I have a $30k limit on one card with Amex and have never had FR/income verification.

 

Also, it is the card that I carried a large balance for a while and I asked for and received CLI on multiple occassions.  At one point I was at ~90% UTL and asked for CLI to bring UTL down and was moved up to the $30k mark.

Last HP: 01/10/19 | Latest Scores: EQ FICO8 - 850 | TU FICO8 - 850 | EX FICO8 - 850
Amex BC | Amex HHonors | Amex HHonors Aspire | Amex Marriott Business | Amex Platinum | BoA Alaska Airlines | CF | CFU | CSR | Chase Ink+ | Citi DC | Citi AA UP | Discover IT
Message 11 of 17
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Valued Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?

1. When was the last time you requested a CLI from amex? (i.e. are you even eligible at this time)
2. As others said it will not result in a financial review but could result in a income verification request (which can be ignored).
3. You currently owe Amex $13,000, depending on your reported income they may not be comfortable extending you more credit.
Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 12 of 17
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Valued Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?


@dragontears wrote:
1. When was the last time you requested a CLI from amex? (i.e. are you even eligible at this time)
2. As others said it will not result in a financial review but could result in a income verification request (which can be ignored).
3. You currently owe Amex $13,000, depending on your reported income they may not be comfortable extending you more credit.

It's kind of funny that they would not be comfortable extending more credit with a fairly large balance. That implies they would be more comfortable extending more credit when it's not needed or used as much. You would think the purpose in doing so is because it is needed lol. Of course, it's all due to risk assessment. 

Scores, HPs/24 mos. (updated 3/30/20):
    Experian FICO Score 8 = 827, 2/24
    Experian FICO Score 9 = 836, 2/24
   TransUnion = 832, 1/24
    Equifax = 834, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07

2019 Spend:
    BCE: $4,066.59
    BoA Cash Rewards: $6,819.88
    Savor: $7,256.77
    CF: $3,104.62
    DC: $13,827.18
    Discover IT: $2,666.30
    Lowes: $147.59
    PNC Cash Rewards: $733.13
    Propel: $4,942.08
=================
Total Spend: $43,564.14

Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $264,500

Cards (hover over for CL | interest rate | Date Opened):
Message 13 of 17
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Valued Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?

That is the nature of the credit world. Banks love to extend credit when it is NOT needed but will turn you down if/when you actually show need for it....
Scores hover around 800
Haven't been AZEO in over a year
Rome was not built in a day, neither is a good credit profile
Message 14 of 17
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Valued Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?


@dragontears wrote:
That is the nature of the credit world. Banks love to extend credit when it is NOT needed but will turn you down if/when you actually show need for it....

Oh, I know. Most other industries don't pull their product or service away when its sought after, rather they increase production or offering to fit the demand. But because of risk, higher demand (or worse, urgent demand) can be construed as intent to harm.

Scores, HPs/24 mos. (updated 3/30/20):
    Experian FICO Score 8 = 827, 2/24
    Experian FICO Score 9 = 836, 2/24
   TransUnion = 832, 1/24
    Equifax = 834, 0/24

Total 2019 rewards, incl. offers/deals = $1,709.07

2019 Spend:
    BCE: $4,066.59
    BoA Cash Rewards: $6,819.88
    Savor: $7,256.77
    CF: $3,104.62
    DC: $13,827.18
    Discover IT: $2,666.30
    Lowes: $147.59
    PNC Cash Rewards: $733.13
    Propel: $4,942.08
=================
Total Spend: $43,564.14

Avg. rewards rate, incl. offers/deals = 3.92%

Total CL: $264,500

Cards (hover over for CL | interest rate | Date Opened):
Message 15 of 17
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Valued Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?

If you charge $2-3K per month and PIF, you're good customer. Carry a $13K Balance over course of whatever 0% APR offer, and you're likely seen differently. Carrying same balance without the 0% APR and you might be seen slightly better because they're making some Money off of you at least. Also paying minimums versus 2-4 times that matters as well, so several factors play into it I'm sure. 

 

The first option is always looked upon as best because they're getting 3.5%(?) swipe fee for every transaction, with almost no risk.

Balances always carry a potential risk of default. 

 

They probably feel if you want/need to carry a balance, you should just get a loan. Plus the APR is always cheaper than on a CC, so it even seems the more logical choice. However, a person can still default. So I'm not sure why it matters where you carry that balance, both are unsecured. From a business stand point, you'd make more money from them on the CC interest than on the loan. 

 

I can seem rather comical to see repeated CLI on a CC with no use or Util, but then they get skittish when you actualy use said CL fo its intedned purpose. 






Message 16 of 17
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Super Contributor

Re: Amex CLI beyond $26500 with another amex at $5k. Will it trigger financial review?


@dragontears wrote:
That is the nature of the credit world. Banks love to extend credit when it is NOT needed but will turn you down if/when you actually show need for it....

Funny how that works. The time to get credit is absolutely when you do not need it!   IMHO

 

Message 17 of 17
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