AMEX BCE Approval

[Anonymous]

Congrats on your AMEX BCE!  I actually recently returned to this board after getting prequalified for one online and applying last Friday.  I got the 14 day message, have called 2 different numbers, and gotten a stern (in effect)"we told you to wait the 3-5 business days" the 2nd time, as he noted seeing I had called once before(the 2nd call was supposedly a backdoor number, on the master thread of them, but it seemed llike the same department as the number on the status page.

From the sounds of it, it seems like you didnt prequal and jumped right in?  Those can be the most excited for sure.  Congrats again!

[DaveInAZ]

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@Anonymous wrote:

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@medicgrrl wrote:
My sister's been carrying a balance on her card the last couple of months and received her 3x CLI about a week ago. She's making very large payments every month though.

Congrats on your approval!!

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I'll elaborate. Amex will deny CLI based on "balances relative to payments" or something like that. So if you're carrying balances but not paying much off, it can cost you the CLI. Since we don't know the exact number its best to pay as much of the balance as possible off every month. Especially if you have a high limit already and want that HUGE 3x CLI.

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Even when you're only two months into a 15 month 0% intro period? What's the point of offering you a 0% intro APR as an enticement to get you to app if they're going to penalize you for making use of it? But then, coming up on my 61st day I have no intention of requesting a CLI - I'm more than happy with my $15k SL, and will be very careful to do nothing to trigger the request for tax return (I forget the form #) Amex is so fond of. I have nothing to hide, I just won't do it. For a 1.99% car loan or 4% Home Equity loan sure, no problem, but not for a high interest CC.

Congrats on your approval OP!

[Total80sKid]

Thank you again, everybody!

@CaptainJ

The only prequal I have ever seen when checking was Merrick about 2 months ago.

AMEX app was through a referral link.

It would be nice to take advantage of the 0% BT and maybe get my CreditOne card taken care of and closed, but I don't want to be penalized by carrying a balance, either.

So I don't know what to do.

I don't want to rock the boat and risk missing out on a great CLI.

[Anonymous]

Total80sKid, while I dont wish to make a suggestion of any sort at this point, I agree with what Dave said.  

The best thing you might do is to look at this from a number of angles.  Someone can correct me if I'm wrong, but I dont know that actual practical use of the great BT offer will prevent you from getting a nice CLI, at least once you pay if off or substially down.  You may wish to ask yourself which will be more important to you in 61 days, not having paid interest during that time or the immediate future, or an immediate and higher CLI on a card you arent carrying a balance on?

I am facing the same question myself(if my BCE ever gets approved), so I appreciate any other points of view folks wish to add.

[Anonymous]

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@Anonymous wrote:

Total80sKid, while I dont wish to make a suggestion of any sort at this point, I agree with what Dave said.  

The best thing you might do is to look at this from a number of angles.  Someone can correct me if I'm wrong, but I dont know that actual practical use of the great BT offer will prevent you from getting a nice CLI, at least once you pay if off or substially down.  You may wish to ask yourself which will be more important to you in 61 days, not having paid interest during that time or the immediate future, or an immediate and higher CLI on a card you arent carrying a balance on?

I am facing the same question myself(if my BCE ever gets approved), so I appreciate any other points of view folks wish to add.

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That's are good thoughts. The 3x CLI is huge especially because you only have to wait 61 days. Yeah sure you can't really carry a balance in those first 60 days if you want to get the increase. But if you successfully get the bump up in your credit limit, you still have 10 months or so of that awesome 0% period. Just my 0.02

[Total80sKid]

@GlennTheAgent777

I think that's what I am going to do.

Wait until after the 61 days and keep a PIF balance and see what happens.

If I don't get a CLI or if given one, then I might do the BT.

One concern is that during my application process it specifically asked me if I was going to use the card for a BT and I said no.

[DaveInAZ]

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@Total80sKid wrote:
@Anonymous

I think that's what I am going to do.

Wait until after the 61 days and keep a PIF balance and see what happens.

If I don't get a CLI or if given one, then I might do the BT.

One concern is that during my application process it specifically asked me if I was going to use the card for a BT and I said no.

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Did you get a spend bonus offer? Mine was $150 statement credit for charging $1k within the first 3 months. I did it in 1 month, by paying things off, like my home/auto insurance that billed monthly but were happy to take my payment in full. If you got a spend bonus I suppose you could get it done between day 62 & day 90.

[Total80sKid]

@DaveInAZ

I did not get a spend bonus offer.

Not sure if it's because I applied through a referral link or not, but I am just happy to have received the SL that I got and with the 12 month 0% apr!

$1k is a toy limit to a lot of people, but for me, it's showing that my hard work at improving my credit is finally paying off!

My biggest non-store SL's have all been $500 or less.

[DaveInAZ]

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@Total80sKid wrote:
@DaveInAZ

I did not get a spend bonus offer.

Not sure if it's because I applied through a referral link or not, but I am just happy to have received the SL that I got and with the 12 month 0% apr!

$1k is a toy limit to a lot of people, but for me, it's showing that my hard work at improving my credit is finally paying off!

My biggest non-store SL's have all been $500 or less.

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No, a $1k starting limit with Amex is great, and certainly not a "toy limit" as with their 3x CLI you'll turn it into $3k in 2 months, and well on your way with Amex. Congratulations.

I was just asking if you got a spend bonus because Amex is upping the game with spend bonus offers. Spend bonuses are always nice, but approvals are even better.

[Total80sKid]

@DaveInAZ

Agreed.