Sometimes, $1000 can (not always) be their "Credit Step Program". Once you get your welcome kit with your limit and APR etc, it will tell you if it is or not. If not, my recommendation would be, 1st find out when your billing cycle ends and I would max out the card and pay off everything but $50.00 THE DAY BEFORE the billing cycle ends, for 2 reasons 1. it will report to your bureau as a $50 balance 2. AMEX loves when you pay them BEFORE. 2nd, 65 Days later ask for a 3X CLI and see what happens, I will caution you, they like to see North of 600 Beacon before they approve for a CLI. If you get declined, keep doing what your doing and 65 days later ask for another 3X CLI. Once your CLI is approved, wait 6 months for another CLI and next thing you know it will just keep growing.
Congrats and good luck with that! I've reported many times that I've been denied for the increase on this card. Still stuck at 1K. My strategy now is to build up either my SPG or my Everyday and move some credit lines around.
My scores were similar to yours last year when I received the Gold Delta.
Congrats, great thing is if you handle it correctly it can grow in no time.
@PointsBonus wrote:Sometimes, $1000 can (not always) be their "Credit Step Program". Once you get your welcome kit with your limit and APR etc, it will tell you if it is or not. If not, my recommendation would be, 1st find out when your billing cycle ends and I would max out the card and pay off everything but $50.00 THE DAY BEFORE the billing cycle ends, for 2 reasons 1. it will report to your bureau as a $50 balance 2. AMEX loves when you pay them BEFORE. 2nd, 65 Days later ask for a 3X CLI and see what happens, I will caution you, they like to see North of 600 Beacon before they approve for a CLI. If you get declined, keep doing what your doing and 65 days later ask for another 3X CLI. Once your CLI is approved, wait 6 months for another CLI and next thing you know it will just keep growing.
Your post is helpful and well-meaning, so please do not be offended that a few things need to be corrected.
- Using the card heavily and paying it off or nearly off prior to the statement closing date (even multiple times in a single statement period) is indeed generally a very good way to show Amex that you need a higher credit line, but Amex is no happier with early payments than with payments made on the due date, as long as they're paid on time.
- Many cardholders may be eligble for a CLI at 61 days, not 65.
- Amex does not use a Beacon score, which would be based on Equifax data. They use Experian FICO 08, and it will be the score that shows in your American Express account from your most recent pull.
- If a credit line increase is denied on any Amex account, the cardholder must wait a minimum of 91 days before they are eligible for a CLI on any of their Amex accounts; asking again at 65 days will result in an automatic denial.
- A cardholder is eligible for a CLI on an Amex card a minimum of 181 days after being granted a CLI on any of their Amex cards.
@Anonymous congratulations on your approval. A $1000 approval is generally a very marginal approval. I am not sure how your current scores are in relation to the ones in your signature, but you will certainly want to work on increasing your Experian FICO 08 score if it is still anywhere in the 600s. The good news is that Amex cards can and do grow quite well.
