Chance of Amex 3x CLI if paid off before statements

[Anonymous]

I paid off the first month to zero before statement came. Because the bonus credit after my spending of $500 also came before the statement, so I got negative balance on my first bill. I don't expect I will spend much to cancel the negative balance for the second month, but I am considering to have a ~3x CLI after the second statement arrives. Do you recommend me to do so, do it later or request less CLI?

Thanks.

[Anonymous]

The more time you wait, the more history you'll have to show them. There is no harm in waiting longer than your 2nd statement to ask for the 3x CLI, it gives the lender an opportunity to see your spending and payments patterns, which will lead to a better chance of the CLI request being approved. But it's your call; some people try for a CLI upon activation, some wait 61 days, and others wait longer - it's totally up to you. Good luck!

[Anonymous]

Thanx for responding. What spending and payment pattern would they like to see? I would rather keep the Amex card at either zero or low balance before statement, because I have a few other cards reporting balances. The Amex card was intended to serve as a high CL account initially for future apps. This may not be good...

[Anonymous]

Amex likes you to use their card heavy (as do all lenders). Many will say they prefer if you PIF, but I had a balance on mine when I requested the 3x CLI and I still got it (I was denied my first attempt, but I was new to Amex, I barely got approved in the first place, and I tried for the 3x CLI at activation - 91 days later I tried again and got it). So really, just use it the way you want to use it and don't worry too much about it. If you try for a CLI and are denied, you can try again in 91 days. It's just a SP so no harm done.

[Anonymous]

Thanx. I also feel they like me to use their cards heavily. They give me the bonus a few days after my $500+ spending on the first second week after I activated my card. BoA gave the bonus firmly after the 3 month timeline no matter how fast I reached the spending goal.

I will use the card normally, as you said, maybe PIF afterwards and do the CLI request later than expected.

[Anonymous]

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@Anonymous wrote:

Thanx. I also feel they like me to use their cards heavily. They give me the bonus a few days after my $500+ spending on the first second week after I activated my card. BoA gave the bonus firmly after the 3 month timeline no matter how fast I reached the spending goal.

I will use the card normally, as you said, maybe PIF afterwards and do the CLI request later than expected.

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Sounds like a great plan! Good luck!!

[Anonymous]

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@Anonymous wrote:

Amex likes you to use their card heavy (as do all lenders). Many will say they prefer if you PIF, but I had a balance on mine when I requested the 3x CLI and I still got it (I was denied my first attempt, but I was new to Amex, I barely got approved in the first place, and I tried for the 3x CLI at activation - 91 days later I tried again and got it). So really, just use it the way you want to use it and don't worry too much about it. If you try for a CLI and are denied, you can try again in 91 days. It's just a SP so no harm done.

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+1  

I received my Amex ED approval end of December and used it for everything and was soooo careful to keep it PIF.  I believe I had a balance owed when I requested my first 3x cli and it was instant!  Hoping for 181 day 3x cli end of August or early September, although I'm quite nervous about that one since I have a lot of new accounts this year.  We'll see how it goes.  Good luck to you!

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Amex likes you to use their card heavy (as do all lenders). Many will say they prefer if you PIF, but I had a balance on mine when I requested the 3x CLI and I still got it (I was denied my first attempt, but I was new to Amex, I barely got approved in the first place, and I tried for the 3x CLI at activation - 91 days later I tried again and got it). So really, just use it the way you want to use it and don't worry too much about it. If you try for a CLI and are denied, you can try again in 91 days. It's just a SP so no harm done.

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+1  

I received my Amex ED approval end of December and used it for everything and was soooo careful to keep it PIF.  I believe I had a balance owed when I requested my first 3x cli and it was instant!  Hoping for 181 day 3x cli end of August or early September, although I'm quite nervous about that one since I have a lot of new accounts this year.  We'll see how it goes.  Good luck to you!

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If it makes you feel any better, by the time I did my second attempt at the 3x CLI (the one that was finally approved) I had 7 new accounts reporting, and all of them were less than 6 months old (and most were opened after I was approved for the Amex), so don't be too nervous and good luck with your next CLI request!

[Anonymous]

I received an ED card with a 15k opening line of credit in May. Used it for a $1500 balance transfer and averaged $500 per month in spending. Requested reopening an old senior gold card that I was told to close by an Amex rep but my score went down. Balance is paid in full and I am still using the card. My income is 53k. Wonder if I should apply like the OP for a bigger line or would that hurt my other 5 cards and my relationship with Amex. Utilization is 1% of 35k total credit.

[Anonymous]

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@Anonymous wrote:
I received an ED card with a 15k opening line of credit in May. Used it for a $1500 balance transfer and averaged $500 per month in spending. Requested reopening an old senior gold card that I was told to close by an Amex rep but my score went down. Balance is paid in full and I am still using the card. My income is 53k. Wonder if I should apply like the OP for a bigger line or would that hurt my other 5 cards and my relationship with Amex. Utilization is 1% of 35k total credit.

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You could definitely request a credit limit increase on your ED card. You can ask for 25k and should be able to get that easily, and you can do it online with only a SP. It won't hurt your relationship with Amex to ask for a CLI.