AMEX CLI New Card

[Anonymous]

I have been reading that the 60 day rule has changed and that I can request a CLI now (Got the card yesterday).  Has anyone requested a CLI right after receiving the card?  If you did, any luck?

[Anonymous]

there was some luck for a bit there but it seems lately that people are getting more denials based on the card being under 60 days old. it would behoove you to do it st 61 days. no sense rushing

[Anonymous]

I requested mine 2 weeks after I got my card 2 x cli. There have been some who have gotten 2x and 3x cli on activation. So it is possible.

[Anonymous]

I have delta gold, with a 1k limit. I requested and a denial. The account is too new.....

[Anonymous]

Thank you all who have replied so far.  I was a little disappointed with the starting limit.  I spend more than the CL I received each month on credit cards, but do pay them off.  Not sure why it was so low to begin with.  

I think I will just charge small amounts at a time so I don't go over the 30% and try at day 61.  Not a huge deal, but just a little frustrating that the CL is low.  

My highest is 20K with the Venture Card.  First one I have applied for since I received the Venture which was last may, so almost a year.  

[Anonymous]

well... what was your SL? if it's <$2k then i would recommend against what you said. btw you can still use that card for more than 30% just pay it down before the statement... keep in mind though that they only allow one payment in the first 30 days

[Anonymous]

but after the 30 days you're good to pay weekly or however you so desire. i would use it heavily. also, even if you don't get the CLI you can check your "spend power" and it can be above your CL. so you can technically spend more if necessary

[Anonymous]

When was activating my 1k starting limit card, I was able to get x3 cli.

[takeshi74]

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@Anonymous wrote:

Has anyone requested a CLI right after receiving the card?  If you did, any luck?

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It's not about luck it's about what one's credit profile and income qualify for.  Some have been able to get a CLI.  Some have not.  Everyone does not have the same credit and income so you can't just poll others to determine if you'd get a CLI or not.

Whether or not 60 days is being enforced there's no harm in making a request.  If you requested too early you can request again whenever you're in the appropriate timeframe whether it's 60 days for a new account, 90 days since last denial or 180 days since last CLI.  While it assumes that 60 days is still enforced, the info about being able to request again after the appropriate time has passed and a lot of other useful info is in the 3x CLI Guide so definitely read it.

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@Anonymous wrote:

Thank you all who have replied so far.  I was a little disappointed with the starting limit.  I spend more than the CL I received each month on credit cards, but do pay them off.  Not sure why it was so low to begin with.  

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Because that's what your credit profile and income qualified for at time of consideration.  Usage doesn't really matter.  It can help to some degree in some cases but it will not overrule your credit profile and income as primary factors.  It's likely that if you qualified for a higher limit you would have been granted a higher limit but you'd have to request a CLI to determine if that's the case for you or not.

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@Anonymous wrote:

I think I will just charge small amounts at a time so I don't go over the 30% and try at day 61.  Not a huge deal, but just a little frustrating that the CL is low.   

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You don't have to limit spend.  You can pay down the balance just prior to report date to manage the reported revolving utilization.  If you want a higher limit then you'll need to address the creditor's concern(s) with your credit profile.

[Anonymous]

Thanks Takes.

My credit profile is better than it was a year ago, truthfully speaking.  Credit score is higher, I paid off student loans so I have less debt than I did when I got the Venture.  My savings is higher, 401k is higher, etc...  My income has gone up considerably.  All of these things should have contributed to a CL close to my Venture which is 20,000.  Just a little stunned since CAP 1 tends to be a little more conservative than most other lenders.

I did under report my income on the application, but it was still higher than what I reported on the Venture application.  Just a weird situation. 

Reason I under reported is because I just got a promotion at work that will double my incomre, but that job starts in April, so once I start getting paid, I will update the income on AMEX.