Hi Fico Family,
I recently got approved for the everyday card and gold charge card. I have read here that at 61 days you can request increase and its usually granted. My question is, the 61 days from the day you applied and got approved or 61 days after the first statement?
What is the best way to request increase, on the App or calling them?
Also I assume its better to request when the charge card doesn't have a balace?
thanks in advance
Congratulations on the approval! "Usually granted" would be a bit misleading; usually granted to those whose profiles merit an increase would be a better way to state it. You can ask 61 days after applying for the card, and I would just do it directly on the Amex website. You can ask for up to 3x your current credit line. If approved, you'll need to wait 181 days before asking again on any account, and if denied you'll need to wait 91 days before asking again on any account. Amex likes their cards to be used; no need at all to have $0 balances before asking. I think my "current balance" among my Amex cards was around $25,000 the last time I asked for a CLI.
I think the only official statement from American Express is "Our records show that you have received a credit increase within the past 180 days. Our policy requires at least 180 days between credit line increases." (Also similar language for 30 days between credit line reallocations.) As for being able to receive an increase in fewer than 181 days after receiving one I've got numerous personal data points showing it won't happen, and there are tons of datapoints on the forums for being automatically denied if asking fewer than 91 days after a denial. Asking too soon never resets the clock. I've accidentally asked on day 180 a few times, but then asked again after midnight Central Time and received them. There may be a similar letter for asking too soon after a denial.
If today is 92 days after you were denied, you're good to ask again. It today is 92 days after you applied for the card and you were denied 31 days ago for any reason other than asking too soon, you will be automatically denied until another 59 days have passed.
@Anonymous wrote:
@K-in-Boston wrote:Congratulations on the approval! "Usually granted" would be a bit misleading; usually granted to those whose profiles merit an increase would be a better way to state it. You can ask 61 days after applying for the card, and I would just do it directly on the Amex website. You can ask for up to 3x your current credit line. If approved, you'll need to wait 181 days before asking again on any account, and if denied you'll need to wait 91 days before asking again on any account. Amex likes their cards to be used; no need at all to have $0 balances before asking. I think my "current balance" among my Amex cards was around $25,000 the last time I asked for a CLI.
Thanks K! This is such a good summary of that huge Amex thread.
STICKY