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At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

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Anonymous
Not applicable

At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

I let my gold and BCE post high balance, used for vacation expenses..also missed the statement closing date so they were posted maxed out.

 

BCE: $965/1000

Gold is $2100 balance(now $3100 "limit")

 

I'll be paying the gold in full tomorrow, and then the BCE in full, or at least below 30% in 2 days. Also just got out of a financial review a week-2 weeks ago(which explains the higher gold limit lol.)

 

Should I attempt the 3x CLI for the BCE since I'm at 61 days or wait until next month when my balances aren't posted high? I'm thinking wait another month, especially since I was just FR'd, which ended up better than expected but still.

7 REPLIES 7
Anonymous
Not applicable

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

The 1K limit is harder to CLI than others with Amex, just saying

 

I'd wait until balances and scores are at their best and go for a smaller (not 3x) CLI

Message 2 of 8
Irv02
Established Contributor

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)


@Anonymous wrote:

The 1K limit is harder to CLI than others with Amex, just saying

 

I'd wait until balances and scores are at their best and go for a smaller (not 3x) CLI.

 

I totally agree with Dumbee.  Have patience, get those balances low and you will be more successful. Good luck!


 

Message 3 of 8
Ficoproblems247
Valued Contributor

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)


@Anonymous wrote:

The 1K limit is harder to CLI than others with Amex, just saying

 

I'd wait until balances and scores are at their best and go for a smaller (not 3x) CLI


Definitely agree 1k purgatory is more difficult to get out of. That's just them keeping you on a short leash while they get to know you. I would disagree with asking for a lower number than the 3x. They'll either approve you for the full amount you asked, approve you but for a lesser amount, or say no soup for you right now. I don't see any harm in asking to take the card from 1k-3k. If the limit were 10k, maybe asking for 30k might be a bit more risky, but starting with a low CL I would certainly think that is a very reasonable request. Not trying to contradict the other good advice already given, that's just MY own 2 pennies on it. 

 

I also agree with waiting until balances and scores are at their best. The SP that they will use in their decision is normally a bit behind. If they update your FICO with a fresh pull and you try it the next day, they will VERY likely be using your previous pull. It typically takes another 2-3 weeks for that to update internally with them but that's a YMMV thing. Whatever you decide to do, good luck, and let us all know how it pans out!





FICO 8 Sep '23 EX 755 EQ 765 TU 739
TCL $199,800
Message 4 of 8
ccquest
Established Contributor

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)


@Ficoproblems247 wrote:

The SP that they will use in their decision is normally a bit behind. If they update your FICO with a fresh pull and you try it the next day, they will VERY likely be using your previous pull. It typically takes another 2-3 weeks for that to update internally with them but that's a YMMV thing. Whatever you decide to do, good luck, and let us all know how it pans out!

 

I was going to bring this point up too and imo that just says go for it now. I'm not sure if the CLI is *necessary* for anything in two months or not, but if it isn't, what is the difference in waiting an extra 30 days for the CLI at that point? You can try now, and if you're denied you can try again in 91 days. If you wait for your score changes to update, you could be waiting almost two months from now so you'd already by halfway to the 91 day wait anyway. Otherwise, if you're approved you get the CLI now.

 

Since it won't really impact me either way, I'm going to ask for 25k next week (9100 SL, don't want 4506-T) when I hit my 61 days. I'll be surprised if I actually get much though because my score has dropped quite a bit since the original approval (see difference in sig), but I am kinda hoping they use the old score data instead of anything more current.

as of 1/1/23
Current Cards:
Message 5 of 8
SecretAzure
Valued Contributor

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

I say wait another 5 months for the HP to age, your scores to rise, and make sure to keep your util below 10% (while you're new).This way they see that you are reliable and of a lower risk.

 

This has the added benefit of making your CLI a much bigger one. I know you don't need a particularly large one but it is good for padding. Also, creditors are spooked right now and being super cautious about how much they're lending. Things may be different in 5 months. 

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MCMust garden until 2/1/2022 to hit my goal AAOA. Smiley Indifferent
Message 6 of 8
Ficoproblems247
Valued Contributor

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

LOL @ccquest  says go big or go home! 😂 Actually you make good points on the timeline of things because if OP does try and gets denied than they're not out much of a waiting period. I disagree with lenders being "spooked" right now (well at least AMEX in that regard.) I think they're being more cautious than they normally would be, but if your profile supports what you're asking for, they're still handing out CLIs. My profile is far from perfect and they gave me a 4K-12K increase on a 3 month old card this morning. I guess the main point I see in this particular situation is that OP will be asking for a total of an extra 2k on his CL. To me this just hardly seems like a request that would turn any heads, both real or virtual.





FICO 8 Sep '23 EX 755 EQ 765 TU 739
TCL $199,800
Message 7 of 8
Anonymous
Not applicable

Re: At my 61 day mark for AMEX, should I try the 3x CLI or wait another month? (High balance)

Definitely! I'll wait until next month when my uti will be low, I'll make a new post linking this one with an update on what happens! I'll request the normal 3x.

Message 8 of 8
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