AMEX CLI Request...Should I?

[Anonymous]

Hi All, 

I'm looking for advice on whether or not I should request a CLI on my AMEX card.  I applied for the Gold Delta SkyMiles card last December while booking a flight and was instantly approved with an initial CL of $12,500.  I was a bit surprised as this was more than double the CL of the next highest card in my wallet at that time ($6,000 on my Amazon Prime Visa from Chase).  Anyway, I was considering asking for an increase and wondered what my chances are.  My bill has been paid in full every month since signing up, my total utilization is about 3% across the board, and my Experian FICO score is currently 769.  I also applied for and was approved for the Gold Card back in May (with just a soft pull, too, as I was pre-approved).  Let me know what you all think.   Thanks!!

G

[simplynoir]

Welcome to the forums, @Anonymous!

Assuming your income is good, it sounds like you'll get an increase if you request one. The question is how much are you looking to get. The maximum is 3X the current CL and there is always a possibility of income verifcation being asked if you ask for too much. If you haven't read it yet the AMEX 3X CLI could help answer any questions you have.

https://ficoforums.myfico.com/t5/Credit-Card-Applications/The-Definitive-Amex-3X-CLI-Guide/td-p/1811071

I would shoot for as high as you're comfortable with. Let them counter you if possible.

[Anonymous]

3x the 12.5K I already have seems a bit absurd as my total credit limit has started to exceed my annual income, and I didn't want to trigger a financial review, so I went conservative and only asked for a 5K increase.  It came back approved instantly (literally).  Maybe next time I'll ask for a bit more.  Thanks!

G

[simplynoir]

Congrats on the increase!

[M_Smart007]

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@Anonymous wrote:

so I went conservative and only asked for a 5K increase.  It came back approved instantly (literally).  Maybe next time I'll ask for a bit more.  Thanks!

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Welcome To myFICO Forums and

[AverageJoesCredit]

Congrats, requesting a 3x does not trigger a FR, fyi

[Anonymous]

I seem to recall reading somewhere that hitting $25K on a single card or $34.5K overall in available credit with AMEX would trigger a financial review, or that they would at least require some sort of income verification.  

[Cred4All]

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@Anonymous wrote:

I seem to recall reading somewhere that hitting $25K on a single card or $34.5K overall in available credit with AMEX would trigger a financial review, or that they would at least require some sort of income verification.  

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Op congrats on the increase!  Many data points suggest that on average, that is a good baseline for where income verification would trigger yes.  There are those (likely based on profile and spend history) that exceed that, so it's also a YMMV situation.

[AverageJoesCredit]

FR , Financial Review and Income Verification are completely different.

[Meanmchine]

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@Anonymous wrote:

3x the 12.5K I already have seems a bit absurd as my total credit limit has started to exceed my annual income, and I didn't want to trigger a financial review, so I went conservative and only asked for a 5K increase.  It came back approved instantly (literally).  Maybe next time I'll ask for a bit more.  Thanks!

G

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First off, congrats on your CLI

Im a little bit of a coward myself so I know what you might have been feeling