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Congratulations on the increase.....You always seem to have great information contained in your posts, and this one is no exception.
How or why did you decide to start walking up the "5k cli ladder" at 30k?
@LittleSal wrote:
Nice. Can’t wait to see how high you get it!
I'm hoping to get it around $70k eventually, as I'd like to do some testing surrounding the limit at which FICO 8 begins to "ignore" a revolver from utilization. I'm not sure we have much concrete data on that here on the forum, so it would be nice to be able to contribute something worthwhile regarding that subject at some point.
@Floyduda wrote:
How or why did you decide to start walking up the "5k cli ladder" at 30k?
Not so much a decision, but rather a necessity with Amex in order to avoid having to provide IV. The first well-known threshold encountered with Amex is believed to be at $35k. Trying to cross $35k usually results in IV being prompted. This has been the case for people with a (say) $12k-$15k limit that try to go for a 3X CLI, which would result in crossing that point. Most everyone states that if they back out of their browser and try again, lowering the amount, usually approval happens without IV at $35k.
For me, I started with a $10K SL and took it to $30k via 3X CLI at 64 days. My next CLI 6 months later could only be to $35k. I tried $50k to start, then backed down in $1k increments all the way to $40k, each time being prompted with IV language. I then started at $500 increments from $39,500 through $35,500, still being prompted with IV each time. Finally, an instant approval at $35k. Getting a rubber-banded bundle of 20 Amex IV letters in the mailbox a week or so later for each failed CLI attempt was quite amusing, I must say
Ever since that $35k approval, I've been able to increase $5k/6mo without IV... but attempts at > $5k have yielded IV prompts, thus allowing me to conclude that $5k/6mo is the standard max Amex allows for my profile (perhaps everyone?).
@credit_endurance wrote:
If I may ask, what is your fico score with them looking like these days?
I've been at an 850 since May of last year.
My Amex score history: Original approval EX FICO 8 was 736 (when my file was dirty) in June of 2016. EX went clean by April 2017, which took my EX FICO 8 to 822. I did a 3-CC spree to give myself "congrats" on a clean file, dropping my score to 804. It then took a good year of gardening to build my score back up to ~825-830 and I then saw a nice jump (847) with my AoYA reaching 12 months (from those spree accounts). Shortly after, I hit 850, presumably from AAoA and/or AoOA crossing a threshold.
Congrats and thanks for sharing your method! I tried it myself and went from $34K to $39K!
Ok cool....I guess what I'm trying to figure out is how much your reported salary comes in to play as to where the line for IV language appears.....
If 2 people have identical credit files but their salaries are different do you think they would have different thresholds for being prompted for IV?
let's say person A makes 90k and person B makes 60k........??