American Express Blue Cash Everyday CLI

[OG_54]

Received an email for American Express that they increased my credit line to 12,000 from 6,000. I was going to try to 3xCLI after I closed on my house in a couple weeks not sure now. But I'll take it. Thanks American Express 🙂

[BPebbles]

Congrats on the Auto CLI!! That's great! 

[Total80sKid]

Awesome! Congrats!!

[Capital1]

Awesome how long have you had this card before the cli?

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@OG_54 wrote:

Received an email for American Express that they increased my credit line to 12,000 from 6,000. I was going to try to 3xCLI after I closed on my house in a couple weeks not sure now. But I'll take it. Thanks American Express 🙂

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[OG_54]

I have had the card 1 year 3 months. This is my first auto cli. Last increase was in December to 6,000.

[austinguy907]

When AMEX gives you money it doesn't reset the wait clock.  I would suggest going for your 3X when you've got your keys in hand.  Might as well take the bump and boost your highest reported limit.  Then wait to make sure it reports before spreeing for other cards after closing.

[OG_54]

I will try that after closing. Might not go for 36,000 lol maybe the 20,000s

[austinguy907]

If you don't want to provide POI/4506-T then $34.5K seems to be the cut off for most these days before having to jump through hoops.  Otherwise there's a good chance of getting the full 36K by providing the form.  Or aim for the middle and a nice round 30K for the time being and let your other cards catch up to it.  

It's all a personal decision when it comes down to it though.  I just hate waiting 6 months between pushing the envelope with them or anyone else. I started with 10 then went to 30 and then 50 (4506) and then threw a dart at them for 150K for giggles and they bumped it $700 because of lack of use prior to the request.  50K is enough to use it and not think about it though when it comes to scoring and micromanaging things.  

Since you've been used to 6K for awhile before they made the move, 30K would probably be enough w/o much hassle.

[OG_54]

30k sounds good will try that. That would be crazy if they approved it.

[austinguy907]

If you can get a mortgage closed you can easily get 30K from amex.  When you get some more confidence you can bump it up to 50K with a 4506.  If you don't use more than a couple of grand per year that's about the ceiling on it.  If you use it a ton and make 100K+ bumping past 50K shouldn't be a problem either.  It's all a game when it comes to creditors and CLI's.  If you approach it with only using up to 10% of the CL you'll never get into trouble.... well provided you don't lose income or something more drastic.  

Cash in the bank is always better than a 0% card anyday....especially when they pay you 2.5% APY on it each month