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No AMEX decrease, but no increase either! Making those minimum payments.

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Frequent Contributor

No AMEX decrease, but no increase either! Making those minimum payments.

Was going to add this to the "Amex Decreasing Unused Limits

 thread but locked, so mods feel free to edit/move as you wish.

 

Many had mentioned about just making minimum payments. In my situation, I have 3 Amex revolvers, 2 with zero balance which I have had for many years and 1 which is on a 0% interest promo since I opened that card a few months ago. Owe less than 1K on it as of today with 10K limit and have a few months left which I will pay off fully before the end of promo. I also like just doing minimums when on promo time, and decided since I have never asked for a CLI to try. Did it online, kept coming back 7-10 days. Got message to call in for answer, but figured would wait for letter, which came today. No big deal either way as I never exceed 10% util on any individual card, <3% TCLU, but wanted to add my results for data point.

20190312_115045.jpg

 

 

 

 

Amex Cash Mag 10K | Amex ED 10K | Amex BCE 7.5K | 5/3RD SU2C 10K | 5/3RD SU2C 6.5K | Barclays Cash Fwd 6K | Citi® Diamond Preferred 8.3K | Citi® Simplicity 7.4K | Citi® TY 4.5K | Citi® DC 4K | Cap One QS Visa 14.6K | Cap One WM MC 11K | Discover It 19.5K | Discover Miles 6K | BOA Cash 13.2K | BOA 7K | State Farm Visa 4K | US Bank FlexPerks Select+ AMEX 18K | US Bank Plat 11.5K | US Bank Cash+ 11.2K | Chase AARP 3.5K | FNBO Rewards 20K | Huntington Voice 6,250K | Huntington Voice Rewards 7.2K | HSBC Rewards 4.7K | HSBC Gold 1.2K | PNC Cash Rewards 15K | PNC Core Visa 15K | PNC Points 4K | Fidelity Visa Sig 15K | Target MC 11K | TD Bank Cash 4.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | Rakuten Visa 10K | Ebay MC10K | Marvel MC 10K | Paypal Credit 10K | Apple Card 4.5K | F8 Scores 5/20 EX759; TU781; EQ792. New car lease 1/20.
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Super Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Congrats on the $44k of AMEX revolver limits.
The reason listed is in relation to payment on balances, rather than spend rate. Are you using Plan It, or just minimum payments on the account? Plan It puts you on a specific payment pace rather than extending.

The existing limits likely put you near their internal limit they are comfortable with.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 2 of 10
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Frequent Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Just regular minimum payment ($35) plus extra $5 more every so often since it is still on 0% interest introductory offer. I saw in previous replies MF members were wondering if making minimum payments could affect limits, so yes it can.

Amex Cash Mag 10K | Amex ED 10K | Amex BCE 7.5K | 5/3RD SU2C 10K | 5/3RD SU2C 6.5K | Barclays Cash Fwd 6K | Citi® Diamond Preferred 8.3K | Citi® Simplicity 7.4K | Citi® TY 4.5K | Citi® DC 4K | Cap One QS Visa 14.6K | Cap One WM MC 11K | Discover It 19.5K | Discover Miles 6K | BOA Cash 13.2K | BOA 7K | State Farm Visa 4K | US Bank FlexPerks Select+ AMEX 18K | US Bank Plat 11.5K | US Bank Cash+ 11.2K | Chase AARP 3.5K | FNBO Rewards 20K | Huntington Voice 6,250K | Huntington Voice Rewards 7.2K | HSBC Rewards 4.7K | HSBC Gold 1.2K | PNC Cash Rewards 15K | PNC Core Visa 15K | PNC Points 4K | Fidelity Visa Sig 15K | Target MC 11K | TD Bank Cash 4.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | BB&T 6.5K | Rakuten Visa 10K | Ebay MC10K | Marvel MC 10K | Paypal Credit 10K | Apple Card 4.5K | F8 Scores 5/20 EX759; TU781; EQ792. New car lease 1/20.
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Regular Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

Interesting data point.  Thanks for sharing.

 

I'll be trying to get a CLI on an AMEX 0% card in a month or so.  I'm also paying the minimum.  From what you show I won't be getting my hopes up. 

 

But it doesn't make sense to me to pay faster than minimum to get a CLI on a 0% card so I might be able charge more than I can now.  "Bird in the hand" and all that.

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Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

I've been an amex customer for 26 years with 800 score.. recently paid off the balance on my Amex HHonors card (about $4k on a $35k CL). I figured I'd ask for a CLI. Got 7-10 response. Waiting for the letter.
Credit Score - 780+, Gardening , TCL - $367k, Largest CL - $96k (Chase Southwest Priority), Oldest Card - 27 years (Amex).
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Community Leader
Mega Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

You know this cycle will go round and round. Everyone has a different opinion on paying minimum . With Amex, its said they prefer pif over pot but even paying min on a 0% might not make them inclined to increase spending limits if all the customer is willing to pay is the minimum. I understand your view as well. I get those denial reasons and i usually just pay in full as the charge post. I just decided i dont wont to owe Amex anything if ever i get in a bad situation like my previous bk. On my income, i dont have the highest Amex limits but i think im done asking for good. Just dont want to poke too muchSmiley Wink
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Established Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

I would fret it. I'd you got a 0%, keep paying until the promotion ends then pif. I would not spend more to please them.
Message 7 of 10
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Community Leader
Super Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

This is just my 2cents

 

Both my AmX cards are 0% for 15 months. I have put very large charges on the ED and have paid 10-15x the minimum pymt due. The reason I do this is basically Murphy’s law. I didn’t want promotion to expire, and like some, scrambling around lookin for a BT to cover the outstanding balance before the outrageous interest rate kicks in.

 

So one of my charges was $5K. I just divided that by 14 so that not only is it paid off before expiration date but that AmX was getting sizeable monthly payments ($357.14/mo). Since they love transactors, I felt this would look good since at this moment in time I was a revolver. 

 

But, of course, each his own. 


DEC 2019: EX 816, TU 820, EQ 810
DEC 2018: EX 777, TU 783, EQ 799

|| AmX Cash Magnet $40.5K || NFCU CashRewards $30K || Discover IT $24.7K || Macy's $20K || NFCU CLOC $15K || CitiCostco $12.7K || NFCU Platinum $12.5K || Apple Card $6.5K ||
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New Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.


@CreditInspired wrote:

 

So one of my charges was $5K. I just divided that by 14 so that not only is it paid off before expiration date but that AmX was getting sizeable monthly payments ($357.14/mo). Since they love transactors, I felt this would look good since at this moment in time I was a revolver. 

 


I've done that with PayPal and some large purchases off eBay under their "no interest if paid in X months" deals.

Message 9 of 10
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Established Contributor

Re: No AMEX decrease, but no increase either! Making those minimum payments.

I can safely say that AmEx hates the idea of carrying a balance on their own cards. They do not discriminate on if that account is a charge card or a revolver. They will not give you a CLI for paying the minimum, ever. They want to see PIF and even better if the numbers are higher but they prefer PIF most of all. If you do a BT as a payment method for their cards they will love you as they are paid off and the amount due is someone else's problem. The only reason they offer anything other than their charge cards is because everyone else beat them to revolvers and they had to offer something similar or fall behind.

TU:758 06/19/20 Bank of America--EX: 776 06/10/20 Experian--EQ:810 09/25/18 Citi--Gardening since 07/02/20
Active:
Bank of America (Better Balance Rewards M, Cash Rewards WM, Cash Rewards VS), Blispay V, Capital One (Quicksilver VSC, Walmart WMC), Chase(AARP VSC, Amazon Prime VSC, Freedom VSC, Slate VC), Citi Dividend MC, Citizens GreenSense MC, Discover It C, FedEx Employee Credit Association V, FNBO Ducks Unlimited VS, HSBC Cash Rewards WMC, PenFed Platinum Rewards VSC, Synchrony Bank(PayPal Credit, PayPal 2% Cashback M), UMB Bank Simply Rewards V[Milford Federal], US Bank (Altitude Go VSC, Cash+ VSC)
Wishlist: AOD Signature, Bellco Colorado Rewards, EBates, Marvel, Nusenda Platinum Cash Rewards, PenFed Pathfinder, Security Service Power Travel Rewards, Vantage West Connect Rewards, Wells Fargo Propel
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