Amex Low SL CLI schedule with 2 cards?

[CreditInspired]

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@jedifrogman2 wrote:

I have a couple cards up there but total utilization is around 14% right now. I always make it a point to PIF on the Amex ones though since I know they don't like balances. I have this Google sheet that I use to track everything. 

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Whoa, 11 new accounts opened in less than a year! That’s a huge no-no for a CLI. IMHO, you should garden so the accounts can age, the inquiries stop having an impact on your scores, and reduce the high UT card to less than 28.9%. 

Nope AmX does not hate you. They see you as high risk at this moment in time. 

[Anonymous]

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@jedifrogman2 wrote:

That makes sense. I did not know that about them. I will see what the letter says, I'll bet it will say "proportion of balances too high" in that case. I just met Minimum Spend on Citi AAdvantage, so I really don't have a reason to be using any cards right now anyway, other than to keep them open so that my overall utilization stays down.

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I mean nobody really knows what goes into their algorithms but looking at the debt load someone is carrying definitely goes into it with Amex, they have sent denial letters something to the effect of balances being too relative to ability to pay or some such. I don't remember the exact verbiage.

[jedifrogman2]

So I got the letter. The top reason? Inquiries. "The number of creditors who have reviewed your credit report"

Second reason: The length of time a customer too short.

Third reason: "The number of credit card accounts on which, in our estimation, you have not paid a majority of the balance in recent months as indicated in your credit report."

Yup, it's that darn CU Visa. Unless I get a decent hand-pay on a slot machine, that's not coming down below 30% any time soon. And yet, it says I'm pre-approved for Platinum. Ha ha, nice April Fools joke, Amex...I'm not convinced, though...I'm not touching it.

[joltdude]

I like the Google Spreadsheet btw..

Think of putting a link to an unpopulated copy on here?

-J

[jedifrogman2]

Hmm...never thought of that...*goes and punches a few keys*...here ya go! I put a sample card in there to illustrate what each column expects. There's room for 17 cards, which is what I have, but it's fairly easy to add or remove rows.

[Anonymous]

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@jedifrogman2 wrote:

Hmm...never thought of that...*goes and punches a few keys*...here ya go! I put a sample card in there to illustrate what each column expects. There's room for 17 cards, which is what I have, but it's fairly easy to add or remove rows.

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thanks a bunch, love the spreadsheet, very very handy.