I opened AmEx ED earlier this month and as given steps program. I’m willing to do this to help get my foot in the door with AmEx. What is the best practices AmEx wants to see with respect to usage, multiple payments, and reported utilization (aka statement balances)?
Are they going to get cranky with me if I have heavy usage and do multiple payments to PIF?
Do I need to ensure my statement closes at 30% utilization or lower?
Do I need to use this card sparingly and only post a single payment?
@SomewhereIn505 wrote:I opened AmEx ED earlier this month and as given steps program. I’m willing to do this to help get my foot in the door with AmEx. What is the best practices AmEx wants to see with respect to usage, multiple payments, and reported utilization (aka statement balances)?
Are they going to get cranky with me if I have heavy usage and do multiple payments to PIF?
Do I need to ensure my statement closes at 30% utilization or lower?
Do I need to use this card sparingly and only post a single payment?
Use it at will and PIF. Unless you have to pay multiple times to keep utilization below 29%. Setup autopay and let them take their money. If you have household members that are trust worthy. Grab a couple of AU cards for them as well. They LOVE the swipers and the pay in full folks. Every time I call in for something they ask me if I want to add another AU. AUs equals more swipes for them. My AUs use the cards more than I do! lol
With a modest income compared to many here. I'd never thought for one minute Amex would give me as much credit as they have! I went from $4k two and a half years ago to just over $65,000 with Amex alone.
*Correction, just realized I was due for another 180 day shot on my BCP. Figuring I'm maxed out I walked the request down until I received an instant approval. They gave me $1900 which took the card from $21,900 to $23,800. I'll take it, since I didn't expect anything. lol
Amex exposure is at $67,400.
Kind of a strange day for me. I was denied for another 3X cli. Here is some info:
Amex Delta - $1000 - Opened 8/1 and denied today for 3X cli. Did not recon. I spent about $2000 in 2 months and PIF every week. I have not used it lately and just put it in my safe for now.
Amex Hilton - $1000 - Opened 10/2 and denied today for 3X cli. Tried to recon and should hopefully hear back in 24-48 hours. I have been using this almost exclusively since I got it. I have put a total of $4000 and pay off every week.
So after all that, I popped on to the Amex site and decided, what the heck and apply for the SPG (which I've been denied 2x already this year). I was instantly approved but again for only $1000.00.
EQ - 676
TU - 668
EX - 653
Utilization is 3% right now of about $79,000.
Any advice? I read somewhere that those that were given low SL's have not really had much luck in getting increases. Has anyone that started off with 1k received any good cli's?
Thanks!
@Anonymous wrote:
1k SL can sometimes take longer then 61 days before the initial CLI. Furthermore, Amex treats all your Amex accounts as one giant account when it comes to CLIs, you can't request another CLI on any card until 91 days after the Delta denial, no need to recon the Hilton denial.
Good to know. Thanks!
@PackWiz wrote:
Did you get an e-mail from Amex explaining Terms & Conditions when you opened either the Delta or Hilton cards? As far as I know people who are in essentially Amex's "credit steps" program with low limits have to wait at least 5 statement cuts before applying for CLI. They may grant you an auto CLI before five statement cuts, but an application from you will be declined. This should be explained in the email you may have gotten from Amex.
I did not. I will look online at my account to see that. If I am a credit steps program, that would explain it
Thanks for the info.
They're still stingy on my CLIs for the BCE...gave me 1900 bringing me up to 5900...
So I opened an ED for funsies...SP...only 2k SL...blah
Mid November (see my post at the top of this page), I was approved for EDC but put onto their version of steps. It’s okay but I wanted to get me foot in the door with AmEx with the goal of ultimately getting BCP.
My scores have increased over the past 2 weeks. Curiosity got the best of me and I tried the incognito method and had a solid APR for BCE. Tonight I tried another computer, incognito again and app/denied BCP. Thought to myself what the hell, it’s only a SP, now they have an updated report. Not making the brightest of moves, apped for BCE and approved SL $1,400 and my best APR to date!
EDC inquiry is showing on EX, but nothing since my 1st statement hasn’t occurred yet. My plan with it is to use it the minimum amount and allow it to grow from AmEx steps. With BCE, I’m hoping to grow it.