My 2nd Amex CLI? [UPDATE]

[MrDisco99]

A bit of background...

Amex has been very good to me. In the last 8 months or so they've been the most happy to approve me with great limits out of all my issuers, and I've enjoyed some kiler bonuses. Here's my revolver lineup with SLs and current limits:

4/17 - BCE $4K - 61-day 3x CLI to $12K
8/17 - EDP $20K
9/17 - Hilton $15K - transferred $14K to Surpass then cancelled
11/17 - Hilton Surpass $3K - transferred $14K from Hilton NAF to $17K
12/17 - Delta Gold $10K

I'll be hitting the 180 day mark from my last CLI on Christmas. I'm wondering if I should even bother trying for another CLI. Every little bit helps to keep my Util low. But I don't want to risk poking the FR bear. Should I sit on what I have or should I go for it? And if I go for it, should I go big for $60K on the EDP? Or maybe just another $10K somewhere?

What would you do?

UPDATE: Took a risk and it paid off (see below)

[Anonymous]

What's the ratio of your Amex revolvers to income? All revolvers to income? Personally I wouldn't request anymore. You're sitting on a pretty sizeable total CL with Amex and honestly any further increase is going to have a negligible effect on util, at best. Unless you start floating huge balances but that's a whole different problem itself.

I can't judge your FR risk having never experienced it but ask yourself if you really need more or if it's worth risking. I say no but that's just me. I'm approaching 1:1 total credit to reported income and considering CLD before seeking cli on cards I want to boost just to play it safe. Even if you make it through intact, a FR /AA sounds like a major pain in the ass I won't risk

[AverageJoesCredit]

Good advice SlightlyRemoved. I tend to agree. Amex has been great for you, unless you absolutely must have more credit lines, enjoy an Amex brewski and maybe pester " DISCOVER" for awhile

[simplynoir]

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@Anonymous wrote:
What's the ratio of your Amex revolvers to income? All revolvers to income? Personally I wouldn't request anymore. You're sitting on a pretty sizeable total CL with Amex and honestly any further increase is going to have a negligible effect on util, at best. Unless you start floating huge balances but that's a whole different problem itself.

I can't judge your FR risk having never experienced it but ask yourself if you really need more or if it's worth risking. I say no but that's just me. I'm approaching 1:1 total credit to reported income and considering CLD before seeking cli on cards I want to boost just to play it safe. Even if you make it through intact, a FR /AA sounds like a major pain in the ass I won't risk

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Basically this. In a nutshell this is one of those situations where you yourself have to assess how much more credit you need and if you're willing to give documentation to get it. For some people they're risk-adverse or not willing to give AMEX IV to so they stay content with what they have, for others whether it's wanting to squeeze every drop from creditors, UTIL, or what have you they want those lines as big as they can make them so whatever AMEX wants they'll provide. It's a judgement call.

[HeavenOhio]

You're not likely to poke the financial review bear, but you may be asked for income verification. You're almost certain to be asked if you try for a 3X limit on a 20K card. If you're asked, back out and try for a lower amount.

I think I'd ask, but I'd go for something modest, like maybe 20K on the BCE or Delta. Or 25K on the Surpass. I'd choose the card where the CLI would be most valuable to you and go from there.

[wasCB14]

You're at $59k plus two charge cards. A 3X on EDP would take you to $99k plus two charge cards.

All added in the last 8 months, along with a lot of new credit from other lenders.

I'm surprised you've not been FRed or asked for proof of income already.

[MrDisco99]

It's certainly not a matter of need. I'd be in pretty big trouble if I was requesting a CLI from where I am out of necessity.

I'm just trying to figure out what I might be able to get away with.  I didn't want to pass up an opportunity at increasing my util buffer, but it did seem risky considering my current limits.  Seeing as most of you seem to agree, I think I'll sit tight with what I have, which is probably what I was going to do anyway.

Thanks for the feedback!

[MrDisco99]

I couldn’t stand not knowing and hit the love button for a CLI to $25K on the BCE. I figured it’s the card I’ve had the longest and with the lowest limit and $12K to $25K wouldn’t be as crazy as trying to triple it again.

No income verification was requested. Response was a message saying they’d let me know by mail in 7-10 days which made me think it was a denial. However when I looked at my available credit it showed a new limit of $25K!

I’ll probably just use this as a donor to my other cards since I intend to either sock drawer the BCE or cancel it to app for something else.

[credit_endurance]

Congrats Mr Disco on the increase! I am considering this very same approach with my BCE which is my oldest card SL $1k toy limit. Took me a couple attempts to get it to $2k then with some reallocations to $8k. Figure I would 3x this card instead of my other eligible HH currently at $18k. Trying to raise that one to $54k surely would poise a more difficult task.

[credit_endurance]

@MrDisco how are you keeping track of your cli request dates? I’m currently using time & date to keep track. Although when I put in 181 days from my last increase it’s just short of 6 calander months. I know some just request at 180 days out. What was your approach?