AmEx Cash Magnet CLI

[FalconSteve]

12 days after receiving a message that I would need to link Plaid or upload 3 months of statements within 10 days or my request for an increase from a $30k CL to a $45k CL would be closed, they finally closed it. I'm just not comfortable with Plaid integration or a 4506C personally. So, when I logged in, I requested an increase to $40k, I receving a partial approval for $35k. I wish the didn't ask you to pick a number, it stresses me out. They already know what they're comfortable approving, so they should just tell you.

Even though it's "only" $5k, I'm pretty happy with it. I don't think AmEx will be raising my limit much more. Actually, that reason code might mean I'm done. If anyone can explain it, I'm all ears (or eyes).

[eyam]

Congrats on your CLI!

[CreditAggie]

Congratulations on your Amex CLI!

[FinStar]

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@FalconSteve wrote:

12 days after receiving a message that I would need to link Plaid or upload 3 months of statements within 10 days or my request for an increase from a $30k CL to a $45k CL would be closed, they finally closed it. I'm just not comfortable with Plaid integration or a 4506C personally. So, when I logged in, I requested an increase to $40k, I receving a partial approval for $35k. I wish the didn't ask you to pick a number, it stresses me out. They already know what they're comfortable approving, so they should just tell you.

Even though it's "only" $5k, I'm pretty happy with it. I don't think AmEx will be raising my limit much more. Actually, that reason code might mean I'm done. If anyone can explain it, I'm all ears (or eyes).

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I think you answered your own question. 

While it's great that AENB provides some flexibility when it comes to CLIs, it sounds like you may have reached (or getting close to) maximum revolving exposure unless you're willing to provide IV or Plaid access.

If you're not willing or feel uncomfortable about it, then temper your expectations with any future CLI requests. I mean, unless you're using a great portion of the current CL on a frequent basis and/or cycling it often, and while you've mentioned having high CLs can be cool, AENB makes it very flexible to get a decent CL if you're willing to provide IV (or any requested docs) to support having a higher limit.

[FalconSteve]

@FinStar 

I can't tell if they're saying that  I'm at a product limit or a personal limit. With or without IV, I don't use this card a lot (it's basically utilization padding, a backup, and an emergency card), so any increase is icing (and scratching that MyFICO itch so that I don't apply for anything

[Papa_Bear]

Congrats on your CLI!

[FinStar]

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@FalconSteve wrote:

@FinStar 

I can't tell if they're saying that  I'm at a product limit or a personal limit. With or without IV, I don't use this card a lot (it's basically utilization padding, a backup, and an emergency card), so any increase is icing (and scratching that MyFICO itch so that I don't apply for anything

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Well, you'll be able to determine what reasons, if any, they provide with the next round should you decide to test the waters at the next CLI window. AENB won't exactly tell you per se, but if they requested IV or Plaid access for the very first request amount that you attempted, then that's a sign.

Algorithms are sophisticated enough to discern patterns, especially if you're not using the card. AENB takes into account your history, internal score (not FICO, not Vantage), other data sources (external and internal), etc. So, if all of a sudden you're requesting an amount that their computer sees as exceeding a specific threshold (based on your usage patterns, reported income, etc.) that's likely what triggered IV or Plaid access.  Otherwise, you would've been approved for $40K or $45K.

[Reviewers]

Congratulations on your AMEX CLI!

[gdale6]

Grats on your move up

35K is pretty much known as the top number without income verification, some manage to get by it and those tend to have high ficos and no derogs on file.

[Elpadrino1]

Congratulations on your CLI!!