is AmEx 3X CLI for me?

[Anonymous]

hello, I was reading about the famous amex 3x cli and even if it is a great opportunity I don't know if it would be beneficial for me. 
The reason for my doubt is that I'm a full time student and my income is low (~10k).

my BCE has a 4k , I would go for 10k instead of 12.
do I even have a chance? would it help me? could it help me get a CSP in the future? (I read that one of the benefits of doing the 3XCLI is that having high limits helps you get other high limits, since the CSP minimum is 5k I wonder if having my BCE at 10k would make chase be friendlier toward giving me higher limits). thanks in advance.

[jacetx]

Hi Jvan. Having high limits doesn't necessarily mean that you can get approved for cards such as the CSP. Lenders look at several factors, utilization, income, length of credit history, FICO scores, some even have their own internal scores. What are your limits, scores, age of your accounts? You can definitely request a CLI with Amex and since you are already a chase customer you might have a better chance at getting the CSP. Have you tried doing a pre qualify on their site?

[BeeH11]

If you get the 3x CLI I would take it as long as you can be responsible with it. I don't really see the different b/tb$10k & $12k in your case (again, as long as you can be responsible w/ it).

And yes, in my experience, having a higher limit helped me get higher limits w/ other cards. I've heard that Chase doesn't like to give out $5k (or signature cards) without someone else giving you at least $5k first (that's what I heard and it was true in my case). CSP, as you probably know, is a signature visa. Again, in my experience, I already had 2 cards w/ $5k+ limits before Chase gave me a signature card. However, chase was the first to give me limits in the 5 digits. 

[taxi818]

yes. you have a chance. many students have more credit than their income so its not a big deal. just go for the full 3x cli and you will be good. im sure. for amex. these are long term relationships. not just what you are doing right now. but 10 years from now. keep it in good standing. and they will stand with you now. its just that simple. no need to over think it.

[NRB525]

OP, in the process of asking for the AMEX 3X CLI, you put in two critical numbers: The CL you would like to see, and your annual income. AMEX takes three basic approaches:

1) Approve your request

2) Counter with another CL amount

3) Deny the request

Each of these can be modified by:

4) Ask for additional information to verify your income and complete their file.

As long as you are prepared to document your income amount, that's the main thing going in.

[Santi78342]

I agree with what has been said above. Go for the full 3x & the worst they can say is no. Especially since its SP only!

[onstar]

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@BeeH11 wrote:

If you get the 3x CLI I would take it as long as you can be responsible with it. I don't really see the different b/tb$10k & $12k in your case (again, as long as you can be responsible w/ it).

And yes, in my experience, having a higher limit helped me get higher limits w/ other cards. I've heard that Chase doesn't like to give out $5k (or signature cards) without someone else giving you at least $5k first (that's what I heard and it was true in my case). CSP, as you probably know, is a signature visa. Again, in my experience, I already had 2 cards w/ $5k+ limits before Chase gave me a signature card. However, chase was the first to give me limits in the 5 digits. 

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This was my initial thought. If you are confident that you will be responsibile with the extra CL, then go for the full $12k. As already stated, you may not get the full $12k, but at least go for it.

As for the Chase experience, for me, it was the opposite. When I got my Chase Southwest, my highest CL among my other cards was $4500 with Capital One. Chase started me off with $9000, and this was my first Signature. Since getting the Southwest at $9k, the other $10k+ cards started flooding in.

[Anonymous]

well this is all good news then. I'll hit that button on the 61 day. I always keep in mind to be responsible. thanks again everyone.

[TURNERHOOVER]

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@BeeH11 wrote:

If you get the 3x CLI I would take it as long as you can be responsible with it. I don't really see the different b/tb$10k & $12k in your case (again, as long as you can be responsible w/ it).

And yes, in my experience, having a higher limit helped me get higher limits w/ other cards. I've heard that Chase doesn't like to give out $5k (or signature cards) without someone else giving you at least $5k first (that's what I heard and it was true in my case). CSP, as you probably know, is a signature visa. Again, in my experience, I already had 2 cards w/ $5k+ limits before Chase gave me a signature card. However, chase was the first to give me limits in the 5 digits. 

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Chase gave me 4000 upon approval, my then highest limit was AMEX at 2500.

[Jerry45]

Good Luck