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Why does Amex make you wait 90 days after CLI denial?

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SRT4kid93
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

@Vinjints 

 

That's not at all what I'm saying? When did I ever say anything about conspiracy theories or keeping people down? Don't put words in my mouth and make me seem like something I'm not. It was a legitimate curiosity about how much of their revenue comes from the top 1%. Nothing more. If you read more into it, that's on you. 

Professional athletes etc make up part of the 1%. There's nothing wrong with Acknowledging that fact. Pretending that it doesn't happen, or pretending to be blind is just ignorant.
 

I'm just saying the top 1% all tend to have Amex's, not every 1%'er has a chase card.  1 look at social media and you will find tons of videos about it. There was even a video where a store accidentally charged a rapper $250 grand instead of 25 grand on his black card. and the rapper just said to give him store credit. Meaning the $250,000 charge went through. 

The top 1% make up a lot of revenue by themselves and yes this includes professional atheketes, music artists, etc.  So I'm just curious how much of their total revenue is from the top 1%. 

Blue Cash Preferred




Message 11 of 34
Jnbmom
Credit Mentor

Re: Why does Amex make you wait 90 days after CLI denial?

Wow this is going off track real quick seems like a pattern ?

 

As others have said it's AMEX rules , but yes some  other creditors make you want 6 months , so 90 isn't that bad .


And your  one scenario if you knew you were going to reduce your utilization one would tend to wait until that  happen before pulling the trigger early .

 

 

EXP 780 EQ 796 TU 810
Message 12 of 34
SRT4kid93
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

@Jnbmom 

i agree, Its ridiculous.

 

someone correctly answered my question , part of his comment was talking about Amex's total revenue. I tried to tell him he made a good point, and added a sentence about Amex's revenue. Stating it wasn't a serious question just my curiosity. Wasn't meant to be anything serious. 


and others felt the needed to go off topic and start talking about conspiracy theories and put words in my mouth and attempt to ruin the thread. And I just won't stand for it. There's no reason for that. i love this forum and I want to see it succeed.

 

Part of being successful means people need to feel comfortable saying something without someone else coming in and putting words in their mouth. If you want to act like that, go to Reddit

 

yea if you knew you were going to reduce your util the smart thing to do would be to wait the couple extra days and then request. That scenario was more just to demonstrate that a profile can change quickly, although like you said this example wouldn't have real world implications most of the time. 

unless you somehow ran into some money you weren't expecting like winning some money on the lotto or casino, getting an unexpected bonus. But those situations are rare. 

 

Blue Cash Preferred




Message 13 of 34
Patient957
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?


@SRT4kid93 wrote:

Why does Amex do this? 

...

any ideas?


 

The same reason parents send misbehaving kids to their room for 90 minutes.  It's called a cool off period. 

 

Message 14 of 34
Seatac
Regular Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

From this comment::

. But still, It doesn't really cost them anything to let you request increases daily. Since the decisions are all done by computers and made in seconds. 

 

It becomes obvious that you have zero idea what the actual costs to process, retrieve,  analyze secure, store, and transport data is.

 

Just as every cycle (flip flop) of every computer chip has a pre-defined cost. A typical home PC or Laptop today just reading email 15 minutes will use in excess of 10 million cycles 

 

Multiply that by the Billions of Trillions of cycles used by a bank every day just to process requests and transactions,  you can see it is not cheap to request an increase. 

 

This doesn't include human capital costs, and all other operating costs.

 

The business makes a choice about how to spend money. Amex Cost Benefit Analysis likely says daily requests are too costly for the return

 

You may not like or understand their reasons for decisions but

 Know claiming it (whatever thing you don't like/get) doesn't cost "anything" is way off the mark.

 

Try building a business and then have to listen to customers demand/grumble about some thing not costing "anything " when in fact it costs you Billions . 

Message 15 of 34
creditrizz
Frequent Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

These Cblow threads.  They shall continue in perpetuity until death, like romances in nicholas sparks novels.  




Equifax:822, TransUnion:823, Experian: 819
Message 16 of 34
SRT4kid93
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

@Seatac 

 

Thank you, that is exactly the type of answer I was looking for. 

 

yes I'm not in IT, and I don't know much about the inner workings of computers. 

I assumed that a giant company like Amex would already have the back end stuff to support this kind of thing. Whatever servers etc they needed.  And therefore assumed that the up front cost would be relatively low. 

to be able to handle that kind of volume from scratch would require a ton of up front cost, but I assumed that they already had the set up to handle that sort of thing, and wrongly assumed it would be a pretty simple programming/software change since everything is done by computers. 

but you made it clear to me my thinking was way off, and now their decision makes way more sense. So thank you

 

Blue Cash Preferred




Message 17 of 34
Seatac
Regular Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

@SRT4kid93 

Glad it gave you a different perspective. 

 

Full disclosure AMEX used to be my client for SOX compliance.  I built and managed their initial SOX storage and analysis vaults.  The initial build was 100 million USD in 2002/3 .

 

Since then the expansion costs of new builds,  expansion equipment and replacement hardware budget is consistently 80 million a year. Just hardware  not salaries not internet not ANY other fixed cost.

 

The total budget for SOX,  including techs is in excess of 1 Billion dollars to handle, secure, and analyze data with a value north of 6 trillion dollars. 

 

The data forCLIs are in those vaults. Along with tons of other stuff.

 

Another cost data point is electricity.  Just look at companies like Meta, Microsoft, Amazon etc announcing they are building Nuclear Plants to power their data centers.  Their power bills are insane when a nuke power plant or 2, is the cost effective option.  I happen to know Chase and AMEX, BOTH former clients, have electricity deals from existing Nuke plants for their data centers and have for over 15 years.

 

The cost of doing business can be ridiculous 

Message 18 of 34
SRT4kid93
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?

@creditrizz 

 

I get your probably just trying to bust my chops, but I just wanted to say.

 

look I get it. You may find me annoying, maybe you even find my threads even slightly amusing. But I just want to say I genuinely do care about this forum and everyone in it. In fact if someone on here PM'ed me and needed a favor. I would do whatever I could to help. It's just the type of person I am.

 

Do I sometimes ask questions that seem stupid or obvious? Yes, but maybe the answer isn't obvious to everyone, and maybe it helps someone. that's all I'm here for, to try to help.  I will always try to do my part to make it a better place.

 

i tried to start a thread on a topic I hadn't really seen on here before. Which is all I ever try to do. I just try to do my part, I'm not trying to be annoying or anything. 

Blue Cash Preferred




Message 19 of 34
Patient957
Established Contributor

Re: Why does Amex make you wait 90 days after CLI denial?


@Seatac wrote:

@SRT4kid93 

Glad it gave you a different perspective. 

 

Full disclosure AMEX used to be my client for SOX compliance.  I built and managed their initial SOX storage and analysis vaults.  The initial build was 100 million USD in 2002/3 .

 

Since then the expansion costs of new builds,  expansion equipment and replacement hardware budget is consistently 80 million a year. Just hardware  not salaries not internet not ANY other fixed cost.

 

The total budget for SOX,  including techs is in excess of 1 Billion dollars to handle, secure, and analyze data with a value north of 6 trillion dollars. 

 

The data forCLIs are in those vaults. Along with tons of other stuff.

 

Another cost data point is electricity.  Just look at companies like Meta, Microsoft, Amazon etc announcing they are building Nuclear Plants to power their data centers.  Their power bills are insane when a nuke power plant or 2, is the cost effective option.  I happen to know Chase and AMEX, BOTH former clients, have electricity deals from existing Nuke plants for their data centers and have for over 15 years.

 

The cost of doing business can be ridiculous 


 

So it costs to much in electricity and processor cycles to process @SRT4kid93's desired daily CLI requests?

 

I'm gonna say this is probably not the reason.  I think the actual reason can be summed up in three words:

 

"Settle down, Beavis!"

Message 20 of 34
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