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My 16 Year Amex CL Rollercoaster Ride

Octopus
Regular Contributor

My 16 Year Amex CL Rollercoaster Ride

I've had a lot of CL ups and downs in my 16 year relationship with Amex. They were my first prime card when my CH13 fell off in '02, starting me off with a generous $8.5k. They quickly auto-bumped me up to $21.5K over the next 18 months. However, financial woes returned and led me to max out all my cc's in the mid 2000's. During the financial meltdown of '08, they balance chased me all the way down to $5.8k. I was never late and always paid over the minimum, but utilization was constantly high... over 90% on all cards.

 

In '09-10, my financial health took a major turn for the better. I finally paid off the massive $65k debt in and vowed to never carry a balance of more than a few bucks ever again. Despite maxing my scores while keeping utilization under 1% over the ensuing years, Amex never auto raised my CL again. (I should point out, none of my other cards -BoFA, Discover, Chase, Cap1- auto raised my CL's during this time either). 

 

While always knowing I could easily get CL increase by request, the hard pull deterred me. Thanks to this forum, I learned there was no hard pull and about the 3X CLI method. Last year, I went from $5.8k to $17k, almost a decade after bottoming out under $6k.  Fast forward to the present, I didn't want to push it asking for 3x ($50k+) this time. So yesterday, I requested $30k and was instantly approved Smiley Very Happy

EX-8 850
TU-8 850
EQ-8 824
Message 1 of 8
7 REPLIES 7
avp99
Frequent Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Great story and congrats on the new limit!





No Preset Spending Limit Hilton - $20K  Cash Magnet $18k Blue Cash Preferred $28K   Discover IT HSN Card  FurnRow $20K  Rooms To Go Synchrony $16.5K $5k Amazon Prime Card $10k  Home Mortgage 280K 3% 39K Car Loan 1.9%





 







 

Message 2 of 8
AverageJoesCredit
Community Leader
Mega Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Great storySmiley Happy. With your scores, and ability to get 30k limit, im assuming high income, 50k should be a cake walk. Eat wellSmiley Wink
Message 3 of 8
drboxing
Established Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

That’s pretty nice, congrats. Hopefully 1 day I’ll see a $5000 Amex limit, I’ll be satisfied.
Message 4 of 8
sleeplessinsf
Valued Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Congratulations!  Your AMEX love story is inspiring!Heart





Message 5 of 8
Octopus
Regular Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Thanks for the comments everyone!  Amex Blue is my favorite card along with Discover. A couple years ago, I bought a mid-level laptop on Amex. Within a week, I accidentally dropped it cracking the screen. Amex purchase protection covered it in full, no questions asked. 

 

It's nice to hear my story was inspiring. Another bit of inspiration...a friend of mine still has a ch13 reporting. About 6 months from filing, his mailbox was flooded with sub-prime offers. 4 years after filing with consistent PIF payment history,  his scores are in the 730 range. He isn't able to land an Amex or Discover card yet but has BoFA, Cap1, and Barclays. His Cap1 limit is $15k, the other 2 are close to $10k. 

EX-8 850
TU-8 850
EQ-8 824
Message 6 of 8
JamP
Valued Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Amazing story and congratulations.

 

Thank you for sharing with us. Way to stick with it.

 

We see so many bad stories about credit cards these days.

 

I myself went 15 years with no credit cards or loans. This definitely makes me glad I have my BCE card though.

 

 

250k+ CL and climbing.
Message 7 of 8
c00mtg
Valued Contributor

Re: My 16 Year Amex CL Rollercoaster Ride

Great story and thanks for sharing!



FICO 8 Scores EQ 704 / Goal 750, EX 706 / Goal 750, TU 724 / Goal 750

FICO 9 Scores EQ 726 / Goal 750, EX 683 / Goal 750, TU 726 / Goal 750
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