The Definitive Amex 3X CLI Guide

[SummerOf17]

Yep, I figured that was it.

In 90 Days the 3 ENQ would be more that a year old(... those the only ones I have) and I am not planning to have balances on the Cards at all, well one maybe.

I am not opening any more tradelines in a near future. I have 2 Chase Cards with 0 Balances and  3 other cards with balances: Amex is 0%  till October. Cap1 Venture with 0% for the next 17 month and Disco IT with 0% for the next 11 month. The last 2 were BT Offers that I have recently accepted. So $0 Interest will be paid!

I've been throwing most of my income towards Downpayment for the past several month and trying to improve scores on my side. My spouse's scores are in solid 800ds(i am full of envy, psssst...)!.

The Goal is the House and the Future is Solid!

P.S. All though it felt like a kick in the ...., it was a good exercise to get that ego down a bit

[SummerOf17]

SO I gave them a call for a quick recon and was said to that the CLI was declined due to the following reasons:

1. High frequency in recent cash advances(Never asked for cash advances in my life).

2. Debt to income ratio(currently 120K+ income vs 10K parked on 3 0% credit cards).

3. Insufficient Fico Credit Score(EXp is 755).

4. Short time with Amex on this account(11 month now).

5. Too many ENQ on credit report(Currently 3 - 1 10 month, 2 11 month).

The CSR was nice enough to resubmit the request for reconsideration to underwriters. Said I should call back in 48 hours.

"Reconsideration" comes from a Greek Word "conside" which has 2 roots, "con" & "side"... and there you go!

Made me feel like I went against all the odds.

P.S. Summer Out till the next episode....

[Gregory1776]

Best of luck 7/17/18!!

[Anonymous]

Time for CLI...  181 days from the last.

I asked for 39k, IV request.  asked for 35k again IV request.  asked for 26k, another IV request.  Finally 24k and still IV request.

I have four revolvers and a personal loan with Amex.  The one I asked for CLI was SPG @13k opened in Jan.   I have been paying statement balances all along, leaving small balances each months.  High income reported...Ex score 750+, aggregated utilization 4%.

In Jan, I got a loan and SPG from Amex, total 38k and car loan from Audi around 58k.   It could be the reason?

What could be my next approach?

[SummerOf17]

Called for Recon. Underwriters looked at it. Still in the same spit bicket.

I dont get it, I am good for it, good for it, good for it...

Just paid entire balance to $0 on Amex. This card goes in a Sock for next few month....

[Gregory1776]

You could be at, or very close to their cap for you?.....

[Anonymous]

Accept that Amex offered you an 85% CLI  without income verification after only 2 months? Send them the information for income verification?

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@Anonymous wrote:

Time for CLI...  181 days from the last.

I asked for 39k, IV request.  asked for 35k again IV request.  asked for 26k, another IV request.  Finally 24k and still IV request.

@I have four revolvers and a personal loan with Amex.  The one I asked for CLI was SPG @13k opened in Jan.   I have been paying statement balances all along, leaving small balances each months.  High income reported...Ex score 750+, aggregated utilization 4%.

In Jan, I got a loan and SPG from Amex, total 38k and car loan from Audi around 58k.   It could be the reason?

What could be my next approach?

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[Anonymous]

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@Gregory1776 wrote:

You could be at, or very close to their cap for you?.....

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It was my impression.  Somewhere I read that Amex max exposure is 40% of income.  My exposure at 100k is roughly at that max level.

BUT, at the same time I applied for Hilton Aspire which went pending.  I got a call this morning I need to close one revolver to approve Hilton since max # of revoler is 5.  I was told Amex loan is counted as one revolver.  Now I am above 40% mentioned.

[UncleB]

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@Anonymous wrote:

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I was told Amex loan is counted as one revolver. 

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This is a valuable data point.  It's not intuitive but makes sense considering how their installment loans display on the website dashboard... thanks for sharing! 

[HeavenOhio]

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@Anonymous wrote:

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Somewhere I read that Amex max exposure is 40% of income.  My exposure at 100k is roughly at that max level.

It's more than that. I was approved with a starting limit that was 43% of my income, increased to 55% after 61 days, and increased to 60% 181 days after that. The first CLI was a counter, and I think my overall limits at the time came into play. The second time around, I requested a small increase and may have left money on the table.