The Definitive Amex 3X CLI Guide

[Risingup1]

True, on my first statement @ 30 days with the EveryDay card I was approved from 10k to

$24,500 instantly. The reason I got this card was for AAOA so this is a small consolation prize. 

[Anonymous]

I was wondering if I should apply right now. I was just approved on 04/15/2015 for an Amex Everyday with a 9k limit 688 Exp score. If I request a 3x increase wouldn't that push me to 27k, but I read in the forum that after 25k there could be an audit. Should I try for the just the 25k? My first statement is supposed to come out tomorrow and I have spent 5.5k so far since getting the card on 4/25. Made a payment for 2k.

[Anonymous]

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@Anonymous wrote:

I was wondering if I should apply right now. I was just approved on 04/15/2015 for an Amex Everyday with a 9k limit 688 Exp score. If I request a 3x increase wouldn't that push me to 27k, but I read in the forum that after 25k there could be an audit. Should I try for the just the 25k? My first statement is supposed to come out tomorrow and I have spent 5.5k so far since getting the card on 4/25. Made a payment for 2k.

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Welcome to the forums.

It is entirely up to you whether to apply now or wait.  Just remember if you are declined then you will need to wait 90 days before trying again.

The $25K cutoff for potential income verification is not set in stone.  Many people have gone over that amount and never had to submit documentation.  Even if you did, it's not treacly an audit but awing Amex to see your tax returns for the last few years.  Again, whether to try for $24.5K or $27K is up to you. Good luck in either approach.

[Anonymous]

So I ended up getting the dreaded 7-10 days and after calling them they said that the reason for my denial was that my tenure with Amex was too short. So it appears that there is a risk in applying for the CLI when you are a new Amex customer. i.e. the 61 day rule is still in effect. I also saw this: Please note, we do not increase an account's credit line during the first 60 days after it has been opened, or for at least 6 months from the last credit line increase. Possibly they mean that if you have had previous history with Amex, i.e. a previous card with them then you can get a CLI, but if you have a completely brand new account then the 61 day rule counts? I'm just speculating.

[Existentialist]

Just to reiterate:

Although the 61day 3xCLI threshold no longer exists, earlier approval requests are no more a guarantee than they were @ original 61 days. The only difference in app'ing sooner is that a subsequent denial would shorten the length of time b4 next CLI request (90 days from denial).

Pragmatically speaking, its always best to judge your current credit status and let that guide your decision when requesting ANY increase (for ANY card) however on the flip side...

Its true that (with Amex) theres actually little-to-no down side to requesting sooner given that its only an SP (within 30days from app). And establishing a payment history prior to requesting CLI (as suggested by some) is also no guarantee of approval. Therefore it essentially comes down to letting your conscience be your guide.

**IF denied however this would certainly qualify as the time in which to strengthen any weak elements in credit profile in order to bolster it to an acceptable level that would 'hopefully' result in approval of subsequent CLI requests (as theres also NO guarantee the 2nd request will be any more successful than the first)**

Consider this... Food for Thought

[EW800]

Can anyone tell me if moving a CL between two Amex accounts resets the 180 day clock for either account?  A couple of months ago I moved about $7K from my Optima Account to my ED Account and just wondering if I might have reset the clock by doing that.  

Thanks!

[Anonymous]

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@EW800 wrote:

Can anyone tell me if moving a CL between two Amex accounts resets the 180 day clock for either account?  A couple of months ago I moved about $7K from my Optima Account to my ED Account and just wondering if I might have reset the clock by doing that.  

Thanks!

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No, no reset.

[Anonymous]

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@Existentialist wrote:

Just to reiterate:

@Although the 61day 3xCLI threshold no longer exists, earlier approval requests are no more a guarantee than they were @ original 61 days. The only difference in app'ing sooner is that a subsequent denial would shorten the length of time b4 next CLI request (90 days from denial).

Pragmatically speaking, its always best to judge your current credit status and let that guide your decision when requesting ANY increase (for ANY card) however on the flip side...

Its true that (with Amex) theres actually little-to-no down side to requesting sooner given that its only an SP (within 30days from app). And establishing a payment history prior to requesting CLI (as suggested by some) is also no guarantee of approval. Therefore it essentially comes down to letting your conscience be your guide.

**IF denied however this would certainly qualify as the time in which to strengthen any weak elements in credit profile in order to bolster it to an acceptable level that would 'hopefully' result in approval of subsequent CLI requests (as theres also NO guarantee the 2nd request will be any more successful than the first)**

Consider this... Food for Thought

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Very well said.  The 61 day 'rule' doesn't exist any longer but far too often people assume these CLIs are automatic when they never were before and are not now.  

[Anonymous]

Just got approved for a CLI. From 12K to 25K. Here are the numbers:

FICO score from experian website: 711 Credit Karma: Transunion 726 Equifax 726

Credit Utilization: 20% (5500 out of 29000)

My balance on Amex BCE was 0$. It's my only Amex account.

I had applied in January but was denied due to low Fico score (696 I think). 

Original CL was 2K, was auto CLI to 4K, then I read this thread and went to 12K. And now it's 25K. Very happy and thank you for all the valuable info!

[Anonymous]

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gett_money wrote:

Just got approved for a CLI. From 12K to 25K. Here are the numbers:

FICO score from experian website: 711 Credit Karma: Transunion 726 Equifax 726

Credit Utilization: 20% (5500 out of 29000)

My balance on Amex BCE was 0$. It's my only Amex account.

I had applied in January but was denied due to low Fico score (696 I think). 

Original CL was 2K, was auto CLI to 4K, then I read this thread and went to 12K. And now it's 25K. Very happy and thank you for all the valuable info!

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I also just applied for an Everyday credit card, but I was given the "Thank you for applying ... your application is under review." message. My only other Amex card is the BCE card with the recent CLI to 25K. Anyone have any idea if my recent CLI hurts my chances of getting a new card? Any info on this would be appreciated.