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The Definitive Amex 3X CLI Guide

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UncleB
Credit Mentor

Re: The Definitive Amex 3X CLI Guide


@Anonymous wrote:
Now is income verification just sending in pay stubs, or is it also involve the whole tax forms and all accounts frozen until verified thing. If it’s just pay stubs for income verification, what’s the big deal. If it’s the whole T -whatever form and a drawn out process I could Maybe see the issue. But if only had to do it once to unlock higher limits what’s the big deal?

Amex usually only accepts a 4506-T (Income Tax Transcript) for income verification. 

 

There have been many (many) conversations on the pros and cons of this, and some people are fine with it while others aren't.

 

I'll only add that providing information about my dependents (including their SS#) for a credit card CLI isn't something I would personally be interested in.

Message 4261 of 5,432
iDShaDoW
Regular Contributor

Re: The Definitive Amex 3X CLI Guide

Been away from the forums for awhile and finally dropped back in.

 

My FICO scores have actually dropped from what they used to be at the peak (~820) and I managed to recover it back to around the 760-780 range - long story.  Income has gone up quite a bit as well.

 

AMEX had auto-CLI'd me from $10.5k to $18.7k about 6 months ago or so.

 

Decided to try the 3X CLI yesterday.

 

Denied CLI's -

$55k

$50k

$45k

 

Succeeded at $40k.

 

Set a reminder for myself to try for $45k when the 180 days have passed.

 

Good luck to everyone else!

 

 





Message 4262 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide

Nice work iDShaDoW! That’s a great increase!! I’d personally try for more than 45k in six months. I’d shoot for the stars and back down if necessary like you did this time. They might just surprise you!
Message 4263 of 5,432
iDShaDoW
Regular Contributor

Re: The Definitive Amex 3X CLI Guide

Thanks.  I'll try the same 3X and work my way down then.

 

I definitely have a bit of reading to get caught up on, in regards to these large threads.

 

I read that people typically get hit for income verification at $35k CL and up, so was thinking I'd have to back down to $34k.

 

Now if only there were an easy way to get my other credit card companies to match AMEX... Maybe I'll just have to take the hit on a bunch of hard pulls.





Message 4264 of 5,432
iDShaDoW
Regular Contributor

Re: The Definitive Amex 3X CLI Guide

Lol... So I just came home to a stack of envelopes from AMEX.

 

Had at least 4 different ones asking for 4506T and one that showed the approved $40K CL.

 

I figure I have to wait about 6 months before trying again so no point in submitting the form now.

 

Does anyone know of some sort of a hard cap CL for 3X CLI's before they absolutely require a 4506T and/or start doing HP's to consider extending more credit to an individual?





Message 4265 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide

In regards to returning the 4506, you can just disregard them. Nothing will happen if you don’t return them. I’m not sure about a hard cap limit before requiring a hard pull on a credit report. I’d be curious about that as well.
Message 4266 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide


@AnonymousNice work iDShaDoW! That’s a great increase!! I’d personally try for more than 45k in six months. I’d shoot for the stars and back down if necessary like you did this time. They might just surprise you!

Once you get above a $35k limit with Amex, standard protocol for non-IV seems to be $5k/6mo.  That being said, I don't believe him going for anything above $45k would be beneficial, as he'll likely be prompted with IV.  No harm in trying, sure, but I think his expectations shouldn't be set higher than a $5k CLI.

Message 4267 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide

To me, if there’s a chance at a substantially higher cli and the only real drawback is a harmless stack of 4506 letters, I’d take the chance every time. Although it may be a long shot it’s a shot none the less. If it fails a 5k increase isn’t bad at all.
Message 4268 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide

I've read this entire thread as well as many other Amex threads and don't believe I've seen anyone report a > $5k CLI when at a $35k+ CL and without providing IV.  That's not to say that it's never happened or couldn't happen, but I would say that's pretty strong data to suggest that obtaining a substantially higher CL isn't going to happen.

Message 4269 of 5,432
Anonymous
Not applicable

Re: The Definitive Amex 3X CLI Guide

Thanks to the forum and this thread, I took my AMEX ED from a SL $15k to $45K.  Here's to life's small victories!

Message 4270 of 5,432
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