AMEX 3x CLI???

[Johnnyblaze1986]

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@Hcontreras wrote:

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@Creditaddict wrote:

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@-Wade- wrote:

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@Hcontreras wrote:
I just got approved this morning for the AMEX Everyday card. They started me out at a 15k CL. Do they still offer 61 day 3x CLI's on these types of starting limits? Do I possibly have 45k to look forward to in 61 days??? I plan on running a lot of spend through this card monthly.

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Congrats on your approval if you go for 45K get ready for a FR 

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I'm crossing my fingers and toes right now that you ask for it and get it and don't get asked for any docs because then we can start to lay this silly rumor to rest!

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I'm wondering if there is anyone on here that has ask for 45k and got it without an FR? I'm tempted to do so at 61 days.

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Go for it, I have no idea why some of are afraid of amex's FR, unless you lied on your application. Personally if I was a creditor, I would definitely ask for some type of document before I extend a large CL, specially for something like 45k.

Can't wait for mine (11 more days to go).

[Hcontreras]

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@longtimelurker wrote:

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@Creditaddict wrote:

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. most have not reported any issues with FR's if the income they stated matches taxes and usually actually get the CLI's... it's really over stressed negatively.

it's not that big of a deal.

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Yes, it is overstressed in that it is really not common.  However, the true FR CAN be very inconvenient, especially if you are abroad or cannot quickly get all docs asked for.  

On the CLI front, it is certainly not as automatic as is suggested. but I have got it twice!  Whether it is a big deal or not depends on your privacy concerns with the 4506-T.  But again, if that is a concern, simply drop the CLI request.

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Twice without a docs request? 

I appreciate the info.

[Hcontreras]

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@Johnnyblaze1986 wrote:

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@Hcontreras wrote:

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@Creditaddict wrote:

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@-Wade- wrote:

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@Hcontreras wrote:
I just got approved this morning for the AMEX Everyday card. They started me out at a 15k CL. Do they still offer 61 day 3x CLI's on these types of starting limits? Do I possibly have 45k to look forward to in 61 days??? I plan on running a lot of spend through this card monthly.

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Congrats on your approval if you go for 45K get ready for a FR 

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I'm crossing my fingers and toes right now that you ask for it and get it and don't get asked for any docs because then we can start to lay this silly rumor to rest!

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I'm wondering if there is anyone on here that has ask for 45k and got it without an FR? I'm tempted to do so at 61 days.

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Go for it, I have no idea why some of are afraid of amex's FR, unless you lied on your application. Personally if I was a creditor, I would definitely ask for some type of document before I extend a large CL, specially for something like 45k.

Can't wait for mine (11 more days to go).

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You gonna ask for 45k? Let us know how it goes!

[09Lexie]

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@Hcontreras wrote:

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@longtimelurker wrote:

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@Creditaddict wrote:

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. most have not reported any issues with FR's if the income they stated matches taxes and usually actually get the CLI's... it's really over stressed negatively.

it's not that big of a deal.

---

Yes, it is overstressed in that it is really not common.  However, the true FR CAN be very inconvenient, especially if you are abroad or cannot quickly get all docs asked for.  

On the CLI front, it is certainly not as automatic as is suggested. but I have got it twice!  Whether it is a big deal or not depends on your privacy concerns with the 4506-T.  But again, if that is a concern, simply drop the CLI request.

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Twice without a docs request? 

I appreciate the info.

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You will only have an issue if you are asked, you comply by signing the 4506-t and your income is way off.  If that is not the case and you don't mind complying, I don't see the problem. 

[Hcontreras]

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@09Lexie wrote:

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@Hcontreras wrote:

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@longtimelurker wrote:

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@Creditaddict wrote:

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. most have not reported any issues with FR's if the income they stated matches taxes and usually actually get the CLI's... it's really over stressed negatively.

it's not that big of a deal.

---

Yes, it is overstressed in that it is really not common.  However, the true FR CAN be very inconvenient, especially if you are abroad or cannot quickly get all docs asked for.  

On the CLI front, it is certainly not as automatic as is suggested. but I have got it twice!  Whether it is a big deal or not depends on your privacy concerns with the 4506-T.  But again, if that is a concern, simply drop the CLI request.

---

Twice without a docs request? 

I appreciate the info.

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You will only have an issue if you are asked, you comply by signing the 4506-t and your income is way off.  If that is not the case and you don't mind complying, I don't see the problem. 

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I won't have an issue. My income is exact what I put in my app :-)

[longtimelurker]

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@Hcontreras wrote:

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@longtimelurker wrote:

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@Creditaddict wrote:

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. most have not reported any issues with FR's if the income they stated matches taxes and usually actually get the CLI's... it's really over stressed negatively.

it's not that big of a deal.

---

Yes, it is overstressed in that it is really not common.  However, the true FR CAN be very inconvenient, especially if you are abroad or cannot quickly get all docs asked for.  

On the CLI front, it is certainly not as automatic as is suggested. but I have got it twice!  Whether it is a big deal or not depends on your privacy concerns with the 4506-T.  But again, if that is a concern, simply drop the CLI request.

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Twice without a docs request? 

I appreciate the info.

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No, I have asked for CLI three times, and twice I got the doc request.

[bada_bing]

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@longtimelurker wrote:

It's NOT a FR.   Let me repeat that a few times. OK, won't bother.

When you ask for CLI, and, for whatever reason, Amex has questions, they will ask you to complete a 4506-T.  Yes, they do the same in a FR, but in this case your accounts are not frozen.  

I just got one of these, and the key paragraph:

"Please assist us by returning this letter, along with the requested information [completed 4506-T], by mail or you can fax it in.....    If we don't receive this information from you within 30 days of the date of this letter, we will be unable to provide additional consideration to your request"

Yes, Amex can certainly do with some "Plain English" help with their communications ("unable to provide additional consideration to your request"!!!) but in an FR, failure to provide the info in a much shorter time frame leads to closure of your accounts.

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If you don't mind sharing, what was the request that generated the income verification?

I have a 20 year AMEX - currently as a BCP - that has been stuck at ~$25k CL for about

8 years. No auto cli and I've made no requests since $25k.  I have a BoA card that Amex can

see that has a $50k CL and was thinking eventually they might  want to match, but no

go. I suspect that if I make a cli request for $75k it will generate an income verification, which

is not a real problem. I'm considering doing it after this years taxes are posted.

The CL zone above ~$25k with Amex is somewhat undocumented and definitely more

convoluted than with other banks. At least in my case there is some sort of boundary

at $25k because I've sat there for so long.

[longtimelurker]

My card was at $25K, and I asked for a CLI (can't remember, maybe to $35K) and got my first 4506T request.  When I posted about it, I was told "Of course, EVERYONE knows that newbie!  Anything above 25K.... Why didn't you search..."   So it certainly was conventional wisdom!   Since then, a number of people have posted about going above $25K without incident so there is no fast and hard rule.

Amex gave me a CLI just to $28K, citing (correctly) that I was hardly using the existing credit line (true, maybe $2K per month) and the account was too new (9 months or so at that stage, backdated 26 years though).   Later I asked to increase it to $34K (to beat my Cap One $33K) and got immediate approval.  All of these were unneccesary, just for fun type CLI requests.

After combining limits, I just asked for a CLI on my Blue Cash (now at $42K). I'm pushing more and more (bad) spending through here, and even though alerts ceased after the first week, Amex seems to care about total spend compared to CL on this card, so I want this CLI for safety!  After a few days, I got another 4506T which I just faxed in.  We will see.

[Johnnyblaze1986]

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@Hcontreras wrote:

You gonna ask for 45k? Let us know how it goes!

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45K? I wish, but looking forward to that day! LOL

[WillTeasle]

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@longtimelurker wrote:

My card was at $25K, and I asked for a CLI (can't remember, maybe to $35K) and got my first 4506T request.  When I posted about it, I was told "Of course, EVERYONE knows that newbie!  Anything above 25K.... Why didn't you search..."   So it certainly was conventional wisdom!   Since then, a number of people have posted about going above $25K without incident so there is no fast and hard rule.

Amex gave me a CLI just to $28K, citing (correctly) that I was hardly using the existing credit line (true, maybe $2K per month) and the account was too new (9 months or so at that stage, backdated 26 years though).   Later I asked to increase it to $34K (to beat my Cap One $33K) and got immediate approval.  All of these were unneccesary, just for fun type CLI requests.

After combining limits, I just asked for a CLI on my Blue Cash (now at $42K). I'm pushing more and more (bad) spending through here, and even though alerts ceased after the first week, Amex seems to care about total spend compared to CL on this card, so I want this CLI for safety!  After a few days, I got another 4506T which I just faxed in.  We will see.

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They gave me an auto CLI that put me well over the $25k "limit".  Never seen a 4506T from them though.