Amex SPG Approved...Maybe I Should Have Waited...

Andy77 · ‎08-07-2016

So last week, 7/31 applied for Amex Platinum and was approved. The nice lady on phone used same hard pull for Amex Everyday. Declined for : Score too low.

My EX was 645.

More debt was paid off and my EX score through my fico is 661...got impatient and pulled the trigger.

Instantly approved for 1000.00 (SOOOO LOW)

I know if I would have waited two weeks my EX my fico would have been at 681...now mot sure if the 20 pt increase would have helped me get a startling limit over 1000.00...

BUT

How can I get my limit increased NOW ? OR do I have to wait ?

If I use the card to its max and PIF would that help get me a CLI faster ?

Anonymous · ‎08-07-2016

I would wait. You were a borderline approval at a starting limit of 1k. I've heard what they look for in an Amex revolver, as far as credit goes, they have stricter underwriting for their revolvers than they do their charge cards. Just use it for six months, PIF every month, then try for a CLI. Congrats on your approval!

Andy77 · ‎08-07-2016

OK....one last question...when I applied for the Blue Cash Everyday on 7/31 my applicaiton was denied because my EX was too low....645.

Today my score is 16 points higher and this is prob part of the reason I got apporved for the Starwoods card

Should I have new accounts re-evaluate my BCE application since my score was high enough to get approved for the Starwood, I am sure it is high enough for the BCE

Thoughts ?

Anonymous · ‎08-07-2016

It couldn't hurt, since you already got the HP. Worth a shot. But since you just got 1k on the SPG, you may be denied again or offered $500, which I think is what Amex revolver limits start at. But like I said, up to you, might be worth a shot.

Andy77 · ‎08-07-2016

Here is what I am gonna do....

Amex said I had 30 days to have my application re-evaluated....so I am gonna wait a week or so until my EX is 681, that is what the simulator said I should be around, after my remaining debt that I paid off , updates and when my CLI from Penfed of 15k updates, too.

On another note though...when I called the rep just now to inquire about the 3k spend in 3 months on the SPG, I asked about having my CLI increased now and she said they could do a manual review.... BUT I think I will just sit back and wait and use the hell out the SPG and get my 25k starwood points

Credit-hoarder · ‎08-07-2016

OP: Just to put your mind at ease, even with a 680 EX you still probably only would have gotten $1000. That's what my score was when I app-ed for AMEX ED almost a month ago and I only got $1000--plus I already had a BCE at $17K. $1000 seems to be the norm as fas as SL's on a lot of their cards lately unless you're scores are well into the 700's. And I wouldn't go for the BCE until you actually have a 680 or better score--it's just like the previous posted stated--more than likely you'd only get the min. $500 SL.

BUSINESS

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Anonymous · ‎08-07-2016

@Credit-hoarder wrote:
OP: Just to put your mind at ease, even with a 680 EX you still probably only would have gotten $1000. That's what my score was when I app-ed for AMEX ED almost a month ago and I only got $1000--plus I already had a BCE at $17K. $1000 seems to be the norm as fas as SL's on a lot of their cards lately unless you're scores are well into the 700's. And I wouldn't go for the BCE until you actually have a 680 or better score--it's just like the previous posted stated--more than likely you'd only get the min. $500 SL.

I beg to differ, I have seen quite a few data points shared where your first revolver is low and the next one you get 5-10x SL. I did notice that BCE is a bit harder to obtain than the BC cash or BCP. But for another data share points, my EX was 620 when I was approved for $500 on BC and then at 650 EX I was approved for 5,000. So I dont really know what triggered what but I have read many others shared the same story where they got a small SL on first and their second they got a hefty one.

I wont waste your request for CLI at this time... just wait the 61 days because $1,000 is really their SL and harder to get to 3x from activation. (again data points shared from so many things I've read on here). Good Luck to you!

Credit-hoarder · ‎08-07-2016

@Anonymous wrote:
@Credit-hoarder wrote:
OP: Just to put your mind at ease, even with a 680 EX you still probably only would have gotten $1000. That's what my score was when I app-ed for AMEX ED almost a month ago and I only got $1000--plus I already had a BCE at $17K. $1000 seems to be the norm as fas as SL's on a lot of their cards lately unless you're scores are well into the 700's. And I wouldn't go for the BCE until you actually have a 680 or better score--it's just like the previous posted stated--more than likely you'd only get the min. $500 SL.
I beg to differ, I have seen quite a few data points shared where your first revolver is low and the next one you get 5-10x SL. I did notice that BCE is a bit harder to obtain than the BC cash or BCP. But for another data share points, my EX was 620 when I was approved for $500 on BC and then at 650 EX I was approved for 5,000. So I dont really know what triggered what but I have read many others shared the same story where they got a small SL on first and their second they got a hefty one.

I wont waste your request for CLI at this time... just wait the 61 days because $1,000 is really their SL and harder to get to 3x from activation. (again data points shared from so many things I've read on here). Good Luck to you!

Well in that case mine must have been inverted b/c I was initially approved for $10K on the BCE--recently CLI'd to $17K---then I took the Everyday pre-selected offer that was sent to me afterwards and only got $1K. One very high limit and one terribly low one that I can't do anything with!

BUSINESS

Rewards Pts.-Miles: UR-MR-TYP-Venture

Anonymous · ‎08-07-2016

@Andy77 wrote:

So last week, 7/31 applied for Amex Platinum and was approved. The nice lady on phone used same hard pull for Amex Everyday. Declined for : Score too low.
My EX was 645.

More debt was paid off and my EX score through my fico is 661...got impatient and pulled the trigger.

Instantly approved for 1000.00 (SOOOO LOW)

I know if I would have waited two weeks my EX my fico would have been at 681...now mot sure if the 20 pt increase would have helped me get a startling limit over 1000.00...

BUT

How can I get my limit increased NOW ? OR do I have to wait ?

If I use the card to its max and PIF would that help get me a CLI faster ?

Congratulations to you!...Thanks for sharing.

Anonymous · ‎08-09-2016

Right now, just focus on building your relationship with AMEX. They are a bit conservative in the beginning, but will be more generous down the line. I know $1K is low, but if you use it like a debit card and PIF several times each month, they will up your limit in no time. AMEX doesn't really seem to have any problem with multiple payments like some lenders do.