The Definitive Amex 3X CLI Guide

[Anonymous]

Hi! 

I am new to the Community but have been following this thread for quite some time since I got my Amex Everyday Preferred card last november 2014. 

I started with a CL of 6600 and requested for a 3x CLI on January 27, 2015. I was given 19900. I am set for another credit limit increase next month (July 27, 2015). I just need advice if I should request the maximum 3x CL which would be 59,700 or should I be play safe and just request 25,000? I read that they might request for 4506T which would be a hassle, if you exceed 25000 in one credit limit increase request?

Thank you so much for this informative thread and all the info shared.

[Anonymous]

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@Anonymous wrote:

Hi! 

I am new to the Community but have been following this thread for quite some time since I got my Amex Everyday Preferred card last november 2014. 

I started with a CL of 6600 and requested for a 3x CLI on January 27, 2015. I was given 19900. I am set for another credit limit increase next month (July 27, 2015). I just need advice if I should request the maximum 3x CL which would be 59,700 or should I be play safe and just request 25,000? I read that they might request for 4506T which would be a hassle, if you exceed 25000 in one credit limit increase request?

Thank you so much for this informative thread and all the info shared.

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Welcome to MyFico.  Asking for the full amount and the request for your tax transcript will all depend on your profile with Amex, income and your credit report.  Some people have been able to get an increase without the request so it is up to you what you are comfortable with.

But if you want to play it safe, just ask for $25k.

[Anonymous]

Hey all, so learning so much on these forums. I've had the Costco TrueEarnings card for several years now, didn't know anything about the 3X CLI until recently reading this forum. I went ahead and requested a 3X CLI (first time I've ever manually requested on this card) got the 7-10 day message. Went ahead and called to find out why and was told a variety of things (utilization, score, etc.) after asking for details found out they used an old (2 months or so) SP to decline and I've made significant changes to my credit profile in the last two months (scores over 700 now, utilization WAY down, etc.) the CSR said she could submit the request for manual review, I asked multiple times if that would require a Hard Pull she said no several times, is that true? I know they have the right to do it whenever, but just curious if that is an accurate statement. I'm assuming a manual review will generate a new SP, yes?

[Anonymous]

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@Anonymous wrote:

Hey all, so learning so much on these forums. I've had the Costco TrueEarnings card for several years now, didn't know anything about the 3X CLI until recently reading this forum. I went ahead and requested a 3X CLI (first time I've ever manually requested on this card) got the 7-10 day message. Went ahead and called to find out why and was told a variety of things (utilization, score, etc.) after asking for details found out they used an old (2 months or so) SP to decline and I've made significant changes to my credit profile in the last two months (scores over 700 now, utilization WAY down, etc.) the CSR said she could submit the request for manual review, I asked multiple times if that would require a Hard Pull she said no several times, is that true? I know they have the right to do it whenever, but just curious if that is an accurate statement. I'm assuming a manual review will generate a new SP, yes?

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There are no guarantees but it should remain a SP for them to review the CLI application.

[Anonymous]

Throwing more info your way, community. 

Approved for first, ever AMEX card beginning of April for $15,300.  Requested the CLI through my online account today 6/29 (completely forgot to do it earlier); instantly approved (see below).

AAoA: about 4-5 years; no derogs.  FICO scores just a tad bit higher than what's reported in my sig.  Annual income is about $42k.  Utilization (for this card only) was 7% prior to CLI.  Figured a 3x CLI to $45,900 was just insane. 

Surprisingly, I was instantly approved.  Was a bit hesitant;  I'll push the boundaries more during my next CLI.  

[Anonymous]

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@Anonymous wrote:

Throwing more info your way, community. 

Approved for first, ever AMEX card beginning of April for $15,300.  Requested the CLI through my online account today 6/29 (completely forgot to do it earlier); instantly approved (see below).

AAoA: about 4-5 years; no derogs.  FICO scores just a tad bit higher than what's reported in my sig.  Annual income is about $42k.  Utilization was 7% prior to CLI.  Figured a 3x CLI to $45,900 was just insane. 

Surprisingly, I was instantly approved.  Was a bit hesitant;  I'll push the boundaries more during my next CLI.  

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Very good info and grats on the CLI...

[Anonymous]

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@Anonymous wrote:

Throwing more info your way, community. 

Approved for first, ever AMEX card beginning of April for $15,300.  Requested the CLI through my online account today 6/29 (completely forgot to do it earlier); instantly approved (see below).

AAoA: about 4-5 years; no derogs.  FICO scores just a tad bit higher than what's reported in my sig.  Annual income is about $42k.  Utilization was 7% prior to CLI.  Figured a 3x CLI to $45,900 was just insane. 

Surprisingly, I was instantly approved.  Was a bit hesitant;  I'll push the boundaries more during my next CLI.  

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Congrats on the great new limit.  On the next one just be prepared ahead of time to provide tax verification to them in the form of a 4506-T

[Anonymous]

Thanks!

@Irish80    Yeah.  I was hoping they didn't ask me to fill out the form.  Prior tax returns show much less income since I was only working part-time and a full-time student.  Not sure how that would've played out; unless they would just go off of paystubs?  

[Anonymous]

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@Anonymous wrote:

Thanks!

@Anonymous    Yeah.  I was hoping they didn't ask me to fill out the form.  Prior tax returns show much less income since I was only working part-time and a full-time student.  Not sure how that would've played out; unless they would just go off of paystubs?  

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Nah they wouldn't take pay stubs afaik.  Once they request the 4506-T, that's what they want,  tax return information. But in this case, it's good that they didn't ask even though you went over the supposed boundary of $25K.  Nice limit.

[Anonymous]

Ah.  Lucky me