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Amex Cash Magnet - Approved low sl...again

Rosey1
Regular Contributor

Amex Cash Magnet - Approved low sl...again

Checked preapprovals on Amex online account and was pre-approved for Cash Magnet.  Since it was a SP went for it and was approved with a sl $2000.00.  Not too happy with this sl because was approved back in August 2017 cold app ED sl $2000 and in September 2017 cold app BC approved sl $1000.  Both have been stuck at the original sl with NO cli, requesting several times and denied. 

 

Can I recon for a higher sl on the Cash Magnet and what are the chances since the other Amex cards have been denied for cli?

 

                 Inq. 12 mths     AAOA

EQ 702         8                    4yrs, 4 mnths

TU 724         10                  4yrs, 0 mnths 

EX 724         13                  3 yrs, 11 mnths

 

Message 1 of 8
7 REPLIES 7
VoltronM
Senior Contributor

Re: Amex Cash Magnet - Approved low sl...again

Congrats on approval

8-2019 / Fico 8 EX 8013 , EQ 8016 , TR 810
Amex ED 22k , CSP 17k , Discover iT 12.5k , Fifth Third Bank S2C 12k , BofA Cash Rewards 10k , Avianca Vida 10k , State Farm Good Neighbor Visa 10k , Citi DD 6k , Union Bank Rewards 5k
Message 2 of 8
AverageJoesCredit
Community Leader
Mega Contributor

Re: Amex Cash Magnet - Approved low sl...again

Congrats, when you get the lower end sl, it's just what Amex is comfortable giving at the moment. Remember if denied on cli requests have to wait 90 days to request again. Maybe give this 61 days and try again.
Message 3 of 8
bookworm316
Valued Member

Re: Amex Cash Magnet - Approved low sl...again

So the Amex Cash Magnet card is a SP? Do you already have to have a card with Amex for it to be an SP? 



      
Message 4 of 8
Rosey1
Regular Contributor

Re: Amex Cash Magnet - Approved low sl...again


@bookworm316 wrote:

So the Amex Cash Magnet card is a SP? Do you already have to have a card with Amex for it to be an SP? 


Yes, I have Everyday and Blue Cash and set up online account for these cards.  The online account has offers which will let you know if you are Pre-Approved for a card.

Message 5 of 8
AverageJoesCredit
Community Leader
Mega Contributor

Re: Amex Cash Magnet - Approved low sl...again

Most people who are already members of Amex usually end up with an sp approval but it is not 100% guaranteed . All depends on how your profile looks to them.
Message 6 of 8
Rosey1
Regular Contributor

Re: Amex Cash Magnet - Approved low sl...again


@AverageJoesCredit wrote:
Congrats, when you get the lower end sl, it's just what Amex is comfortable giving at the moment. Remember if denied on cli requests have to wait 90 days to request again. Maybe give this 61 days and try again.

The situation is I do not remember the date I was denied.  Received snail mail letter which I may have shreaded.  If I call Amex will they tell me the date of denial?

Message 7 of 8
AverageJoesCredit
Community Leader
Mega Contributor

Re: Amex Cash Magnet - Approved low sl...again

Probably so. Lol, I'm actually shredding all my 2017 cli denial letters as I post haha. You should see how many I got from Amex. My last one was for a 1k increase, that I'll keep so I now know when 6 months will beSmiley Wink
Message 8 of 8
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