AMEX BCP CLI - Need Clarification

[ChessChik47]

Hi All,

I've been a lurking on this forum for several months now and I've learned so much, so first let me say thank you to all of you!  

My question is this:  I was approved for an AMEX BCP with a SL of $15K on April 10, 2017.  I read the AMEX Guide to CLI on this forum and I now know about the 61 day 3 times CLI request that can be done.  I also read that $25K (or $34, 500 - I saw this amount floating around too) is the "max" to request without a FR.  Given that my SL was $15K and 3 times that would be $45K, should I (if I so choose to request the CLI at the 61 day mark) ask for the $45K, $34,500, or $25K?  

My scores are good, I'm around 750 across the board and rising.  UTL will be around 7% by the 61 day mark and income is over $130K.  I have two credit cards (CFU- 10K and AMEX BCP - 15K) and one charge card (AMEX PRG - NPSL).  I'd like the larger limit for various reasons:  I'd like to have more wiggle room with UTL if/when I carry a balance (right now I'm enjoying the 0% APR which is why I have a balance on my CFU), I may be doing some HGTV-type yard renovations and I'd like to put those purchases on my card to get the rewards then PIF, and I'd prefer to limit the number of credit cards I have to manage.  Three/four cards are plenty for me and if the CLs are generous, then I'm set.

If you need more info to make a recommendation, let me know.  Thanks in advance for your suggestions/recommendations.  

[Anonymous]

You can ask for the 3X CL, and in my opinion why not go for it? If you get the income verification notice you can back out and try again for lower limits until it doesn't show (if you don't feel comfortable providing that information). 

[Anonymous]

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Asking for a CLI to $24,500 or $34,500 does not result in an FR (Financial Review). It may result in a request for proof of income via tax returns (4506-T).  There is a huge difference between the two.  A real FR will result all of your Amex cards being locked until they review your account(s) which may include POI.  If you don't provide any requested information or they are not satisfied with the review, your accounts may be permanently closed or limits decreased.  When you request a 3X CLI and they request POI, you can drop down your requested amount until they no longer request the POI if you don't want to provide your tax returns.  Posters here often use the two situations interchangeably and they're not close to being the same.

[ChessChik47]

I like the way you think, smc4getnot!  I guess I don't have anything to lose.

[ChessChik47]

Thanks for the clarification.  I didn't realize the FR and the POI were different things.  I'm fine with satifiying any POI requests.  It seems like the FR is much more intense and I don't want to get involved with that.  I certainly don't want my accounts frozen, et al.  

[JamP]

My BCE was at $13,500 so 3x would be $40,500.

I requested $40k and they asked for proof.

So backed out and requested $34,500 and was instantly approved. I may try again someday or I may not.

You can request any amount up to 3x if they want proof it will prompt you. You can back out and request lower until they instant approve you.

On a side note, this also has to do with what your max exposure is with Amex. I only have one card with them at the moment. Its possible they will not approve that much on one card if you have multiple. This maybe the reason some people only get $25k on one card.

[AverageJoesCredit]

With your scores and income why not go for it. If we are truthful when applying, there should be no fear of income verification

[ChessChik47]

Thanks, AverageJoesCredit, I just may go for it! I certainly don't worry about the POI since I was truthful when I applied. I didn't realize that the FR was a different animal than the POI that can freeze one's accounts and since I'm running a significant amount of monthly bills thru the card I don't want a FR to negatively impact me. Sounds like I shouldn't have to worry about the FR, so we'll see when my 61st day rolls around.

[Anonymous]

Play it safe, $24,500.

[ChessChik47]

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@Anonymous wrote:

Play it safe, $24,500.

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Hi MrBuzzsaw, considering you're the only one so far who recommends that I don't "go for it", can you tell me why?  I think your perspective will be valuable to me.  Thanks!