I'm at 7 yrs 5 mo post bk7 and finally received my first CLI from Amex so it's possible with it still on your reports
@Catb43 wrote:I just tried to get a cli today on my blue cash card and received an email with a denial that states that I have a BK (that is nearly 6 years old) on my credit report. I was actually shocked. It's my lowest SL cards with only 1k. I've obtained several credit cards in the 6 years since my BK including the platinum and gold Amex. I've never been denied a cli. Here I thought I finally got past the BK but Amex let me know it will haunt me til it's off my report for good next year. I will be shelving mine til then. Not much I can do with a 1k credit limit.
FYI a BK will remain on your report for up to 10 years.
@OmarGB9 wrote:
@Ali_baba wrote:
I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.
I agree. I had an Amex Delta with a $1k limit that I closed in late 2016 prior to filing Ch 13. I never got a CLI with that card... but then again I never used it much.
Last month (5+ years after BK) I was approved for the same card with a $10k limit... totally amazing and the desire for a CLI isn't as great being I got an awesome SL. Amex has also increased the perks for using the card so it will be my go to card for the forseeable future.
@bigseegar wrote:Pretty much yes you do. AmEX rarely gives a CLI on new cards with a BK still reporting. Once it's off that changes. I know this from experience.
Good to know. My Ch 13 doesn't fall off till next year. I'll probably just wait till then to request a CLI... with a $10k limit on my new card it's not a pressing need anyway. Such an amazing SL.
@bigseegar wrote:
@OmarGB9 wrote:
I don't think the BK is the reason for denial. Generally, when you get approved for an Amex revolver with a $1k SL, it means you barely got in and it can be a bit hard to grow it at first.
The BK is actually very mucgh the reason they were denied a CLI and also the reason for the SL of $1K and "barely" getting in. While AmEx will let you in with a BK after 5.1 years they still use that to keep you on tight reins until it's no longer reporting. I know this first hand.
They're like any other creditor... no rhyme nor reason to what they do. I closed my prior $1k card specifically because I didn't want to burn them... then 5+ years later they give me the same card with a $10k SL with the Ch 13 still reporting for another year or so.
@JLRDC909 wrote:I had a BK showing and tried for years to get past the $1000 CL. Every denial stated "due to bankruptcy/derogatory credit report".
I think that's Amex's way of saying "we are trusting you with a small limit until that mark is removed". Several years ago Amex wouldn't even approve you with a derogatory mark, let alone a BK. They used to want spotless reports.
Once the BK fell off I had no problem getting increases.
As said... no rhyme nor reason to what they do. I closed my $1k card... filed Ch 13 and didn't burn them... 5+ years later I get the same card with a $10k limit with the Ch 13 still reporting for another year or so.
@Flfico wrote:I've received several Amex cli's with my ch7 reporting so it is possible. YMMV as always.
https://ficoforums.myfico.com/t5/Credit-Card-Approvals/2nd-Amex-CLI-with-BK-Reporting/m-p/6402122
Yep... now you've got me thinking maybe I should go for a CLI on day 91... LOL...
@sznthescore wrote:FYI a BK will remain on your report for up to 10 years.
Correct... and I've been asked why Ch 13 quite a few times...
"Because I made too much money."
The perk though of making payments for 5 years is the BK falls off after 7 years... not the 10 years you wait if you file a Ch 7.