The Definitive Amex 3X CLI Guide

[daybreakgonesXe]

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@wHiTeSoL wrote:

I looked at my letter, and it says 8/8/2013 but when i called in a gentleman said 8/7/2013

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Hmm...interesting. Then maybe I'm wrong! Could be then that that code is the date the letter is printed out, instead of account creation date! Welp, worth a try XD

[jake619]

Mustang, there are some seemingly odd income to overall credit calculations.  You posted income/overall credit, which to me reads income divided by overall credit, which for example means if I made $100,000 and had $50,000 in available credit, I would divide $100,000 by $50,000, returning a quotient of 2.0.  Is this the formula you're after or have I misinterpreted this? I'm a bit math-obsessed by nature, sorry if I'm the only one needing this clarification. Thanks.

[MustangSaluki]

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@jake619 wrote:

Mustang, there are some seemingly odd income to overall credit calculations.  You posted income/overall credit, which to me reads income divided by overall credit, which for example means if I made $100,000 and had $50,000 in available credit, I would divide $100,000 by $50,000, returning a quotient of 2.0.  Is this the formula you're after or have I misinterpreted this? I'm a bit math-obsessed by nature, sorry if I'm the only one needing this clarification. Thanks.

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Yes that is the ratio that I am after, as one of the key variables in determination of the outcome of a CLI request. In theory it is possible to do regression and data analysis to come up models that take all of the other variables into account as well. The only difficulty is to find data points and that is where it becomes a community driven exercise. I have been thinking about hosting a google forms page which will make it easier for everyone to submit their data points.

Regarding the ratio specifically, lenders tend to get a little more conservative after the ratio tends to go below 1.00. Meaning once we have more credit available that what we earn, we appear more risky to the lenders.

[Joesh]

Tried to go from 15k to 25k and got this,,, AHHH

 Our systems are updating.
Your request for a line of credit increase cannot be processed at this time.
We apologize for the inconvenience, please try again in 24 hours.

[tinom1234]

I just got approved the other day, haven't received my card yet, but 61 days will be sometime mid-October...will call in a couple weeks to get the account open date and go from there w/ my 61 day calculation.

Household income is $110K, credit lines I have are listed below. I'm nervous to ask for the 3x increase...I've never even had a card with a limit as high as 10k. I feel like I should just be happy with that. But, I'm also one to push the envelope, hehe. The 4506t they could potentially ask for doesn't worry me, I didn't lie about our income. However, the 4506t wouldn't include some income I have, because it is (legally!) non-taxable. What would I do in that situation?

[Petraeus]

ouch please let us know the outcome as I have mine coming up next week!

[tinom1234]

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@Joesh wrote:

Tried to go from 15k to 25k and got this,,, AHHH

 Our systems are updating.
Your request for a line of credit increase cannot be processed at this time.
We apologize for the inconvenience, please try again in 24 hours.

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Keep us posted! Fingers crossed that you get your increase.

[jake619]

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@tinom1234 wrote:

I just got approved the other day, haven't received my card yet, but 61 days will be sometime mid-October...will call in a couple weeks to get the account open date and go from there w/ my 61 day calculation.

Household income is $110K, credit lines I have are listed below. I'm nervous to ask for the 3x increase...I've never even had a card with a limit as high as 10k. I feel like I should just be happy with that. But, I'm also one to push the envelope, hehe. The 4506t they could potentially ask for doesn't worry me, I didn't lie about our income. However, the 4506t wouldn't include some income I have, because it is (legally!) non-taxable. What would I do in that situation?

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Be mindful there are lots of threads around here discussing the concept of stating your income vs. your household income.  Not saying it wasn't OK to list household, I've done it, too, just giving you a heads-up.

[tinom1234]

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@jake619 wrote:

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@tinom1234 wrote:

I just got approved the other day, haven't received my card yet, but 61 days will be sometime mid-October...will call in a couple weeks to get the account open date and go from there w/ my 61 day calculation.

Household income is $110K, credit lines I have are listed below. I'm nervous to ask for the 3x increase...I've never even had a card with a limit as high as 10k. I feel like I should just be happy with that. But, I'm also one to push the envelope, hehe. The 4506t they could potentially ask for doesn't worry me, I didn't lie about our income. However, the 4506t wouldn't include some income I have, because it is (legally!) non-taxable. What would I do in that situation?

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Be mindful there are lots of threads around here discussing the concept of stating your income vs. your household income.  Not saying it wasn't OK to list household, I've done it, too, just giving you a heads-up.

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Aye..I hope I didn't screw up. I read on an AMEX post (maybe even this one) that a recon rep told her to list both her and her husband's income...hopefully it's OK...

ETA: The prospect that I may have done something wrong regarding the income worries me...

[jake619]

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@tinom1234 wrote:

Aye..I hope I didn't screw up. I read on an AMEX post (maybe even this one) that a recon rep told her to list both her and her husband's income...hopefully it's OK...

ETA: The prospect that I may have done something wrong regarding the income worries me...

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Ehhh, I bet you're fine, I wasn't trying to scare you.  Anyway, the credit profile page on amex.com has this as the income footnote, which begins with five words generically arranged to cover just about any income.......at least that would be my defense.

1 Include income from all sources including employment, retirement, investments, rental properties, etc. Alimony, child support, or separate maintenance need not be revealed if you do not wish to rely upon it.