cancel
Showing results for 
Search instead for 
Did you mean: 

The Definitive Amex 3X CLI Guide

Regular Contributor

Re: The Definitive Amex 3X CLI Guide

 

Carrying Balance vs PIF & Other Utilization Factors

===========================================================

 

This section is a work in progress. 

 

  • To see how charge cards affect credit scores, please check Post 204
  • Amex clearly dislikes carrying balance. Check Post 189 to see more details and the official reason for denial as "one or more payments received in the past 12 months on your american express account were too low given the outstanding balance and repayment history"

 

 

 

 

 

 

 

 

 

 

Change Log
===========================================================

 

06/23/2013: All changes since last update marked in RED

 

  • Added method to check Amex softs in official EX report
  • Added time and date calculator
  • Added verbiage to 7-10 message section to reflect recent experiences.
  • Modified CLI > 3X point in generic CLI guidelines.
  • Modified verbiage for moving credit limits to reflect 13 statement cycles for donor account only. Added links on how to move credit limits and restriction clause to move limits between personal and business cards.
  • Added a new work-in-porgress Carrying Balance vs PIF section.


03/30/2013: "Letter in 7-10 business days" interpretation added in "What happens if you are denied CLI?" section thanks to Revelate

03/29/2013: Modified verbiage on method (c) to find account eligibility date, corrected some typos, added new 4506T section, updated generic CLI guidelines.

01/26/2013: a) Added section "Some Generic CLI Guidelines") b) Added pic for another way to access CLI online c) Modified verbiage in "What happens if denied CLI".

01/14/2013: Minor edits in formatting and ready for sticky.

01/13/2013: Initial document. Changes incorporated via posts from bradpitt (GEMB), OptimasPrime (cropped pic) and Walt_K (4506T documentation)

 

 

Message 21 of 4,440
Valued Contributor

Re: The Definitive Amex 3X CLI Guide

Nice job, MustangSaluki!  Smiley Happy

Message 22 of 4,440
Established Contributor

Re: The Definitive Amex 3X CLI Guide

Great information, Thank you!!!!!


Starting Score: EQ=665,TU=618 on Oct 9,2010
EQ=702,TU=725 on Apr 11, 2012 EQ=705 on Oct 31, 2012 Current Score: EQ=702, TU=714 on Dec 8, 2012
Goal Score: 750

Take the FICO Fitness Challenge
Message 23 of 4,440
New Contributor

Re: The Definitive Amex 3X CLI Guide

 

So in my example, if my calculations are correct, would be March 3rd 2013?

Message 24 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide

Thanks to this handy guide, I was able to get my 3x CLI today. My initial CL was $2500 and I was just approved for $7500 making this my first CL over $5k!

-------------------------------------------------------------------------------------------------
Starting Score - 575 (4/10)
Current Score - EQ - 750, TU - 752, EX - 728 11/4/12

Current Cards:
AMEX SPG ($7.5k), Amazon.com Visa ($3k), Discover More ($2k) all since 11/4/12

Fighting the good fight!
Message 25 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide


Revelate wrote:

OK we're going to try something new, may not work so bear with us Smiley Happy.

 

Going to link to this thread from the other thread; this one will be used for discussions going forward in attempts to keep the sticky item clean.

 


Thanks Rev. This looks great. Smiley Happy

Message 26 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide

Ok, I have a question about counter offers, can you get a counter offer online or only by phone?

Current Cards: AMEX Everyday ($15k), AMEX BCE ($20k), Amex Platinum, Arrival ($11.5k), Merrill+ ($7.5k), Freedom ($5k), Double Cash ($6.5k)

2/16 - 864 Fico EQ (CITI); 818 Fico Ex (AMEX)
Message 27 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide


Anarchy wrote:

 

So in my example, if my calculations are correct, would be March 3rd 2013?


 If your first statement has not been cut then your calculations are right. 

 

Account open date = Jan 1.

 

Completetion of 60 days is on March 2nd (30+28+2), so March 3rd is correct.

Message 28 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide


getmycreditright wrote:

Thanks to this handy guide, I was able to get my 3x CLI today. My initial CL was $2500 and I was just approved for $7500 making this my first CL over $5k!


Congrats!

Message 29 of 4,440
Regular Contributor

Re: The Definitive Amex 3X CLI Guide


ceemee2203 wrote:

Ok, I have a question about counter offers, can you get a counter offer online or only by phone?


Both process work the same way. If anyone has recently experienced anything different please let us know.

Message 30 of 4,440