Assuming that we replace balance with credit line, Amex denied you for a credit line increase because they determined that your income does not support the amount of credit you are using.
income you provided is insufficient relative to your overal debt obligations
What income did you report? What is the current balance reporting on your credit reports from all credit cards, and what is the total credit limit among all of them? Do you have loans such as student, auto, or mortgage? What is the monthly payment on those?
Your recent payments are too low relative to your requested total line and your debt obligations with Amex
Are you making only minimum payments or slightly above on your Amex accounts? For best results, and of course to avoid paying interest, you should pay the full statement balance each month prior to the due date. Do you have other cards with Amex? What is the current balance on those and what are their credit limits?
I’m sorry to hear you were denied.
From your credit line, I think you’re on AmEx version of credit steps. I think the wording says they’ll increasing 6 months after your 1st payment (roughly around your 7th statement).
You didn’t indicate how long your account has been open. We’re you hoping after 61 days for a CLI? I believe it’s very much YMMV thing for those on the steps.
@Anonymous wrote:
I reported 30 000$ income. current balance reporting on my credit reports from all credit cards is 7500$ and I use 1300$ from all of them. I do not have any loans student loans , auto, or mortgage. I do not even use this card much because there only $ 500 I sometimes buy coffee from it or small expenses for $ 40 which I always pay in full.
It's not clear from your post if you're still using 'balance' and 'credit line' interchangeably. "Balance" generally refers to an amount you currently owe a creditor, not your credit lines.
In any case, if your credit profile is either new or you're rebuilding that would likely be bringing their attention to the other factors... IMO it's likely the combination of all of these that's holding you back.
Someone with modest income but a strong credit profile will generally see good CLIs with Amex, even if they are carrying some balances. But when you combine modest income, carrying balances and rebuilding and/or a new(ish) credit profile it's not surprising they are holding back.
Don't worry, though... time will cure this. With consistent usage and a good payment history Amex will eventually open the purse strings. 