AMEX CLI question

[Anonymous]

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@enharu wrote:
How much do you owe on it right now? Amex is one of the few lenders that care about how much is owed currently vs. original amount borrowed.

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I owe a little under 20k, my original amount was 22k six months ago.

[enharu]

That probably was a factor as well. When I applied back in march, I had a brand new auto loan account reporting that reflected 100% balance presently owed compared to amount borrowed.

Talked to a CSR and was told its best to keep it down below 70%, and then try again.

[Anonymous]

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@enharu wrote:
That probably was a factor as well. When I applied back in march, I had a brand new auto loan account reporting that reflected 100% balance presently owed compared to amount borrowed.

Talked to a CSR and was told its best to keep it down below 70%, and then try again.

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Hmm... 70% is their magic number huh? I'll keep that in mind the next time I app for another card with them. ; )

I kind of wish I went for the BCP instead of the BCE, I didn't think I could put that much use into it to get that much cash back but I already have $90 from pretty average use. (no insane gift card washing, huge purchases, etc)

[enharu]

Not sure if that's a hard requirement, or its just recommended to increase my chances dramatically.

[Anonymous]

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@enharu wrote:
Not sure if that's a hard requirement, or its just recommended to increase my chances dramatically.

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You have some pretty good limits going so I'm sure it couldn't have been anything else. That's probably what they looked at for me too, now that I think of it I got my car and my BCE right around the same time, so neither one had much time to show up on a report for the other to see. I was considering a mini app spree after trying to get CLI's on all of my accounts but now I think I'll wait and just try to get the CLI's and pay down my auto loan a tad.

[enharu]

You technically can go on a mini spree now since its gonna be 6 months until the next CLI request. Kinda enough for the new accounts to age a little. If you don't mind waiting then that's definitely going to be better as well. It's always beneficial to be patient when playing this credit game.

It really depends on your priorities. There's hardly a right or wrong answer