AMEX INITIAL CLI

[Anonymous]

I've been working hard to rebuild my credit and have gotten all my Vantage Scores in the 660 range and my FICO scores in the 640 range. I recently applied for a Blue Cash Everyday card from American Express because Credit Karma said I had good approval odds. I was approved, but without the bonus offer and only a $500 limit. I received an email a couple days later stating that if I made my minimum payment on time and carried a balance each statement for 5 months that I would automatically receive a credit limit increase. I have read in many posts on here to request your initial CLI on the 61st day after account opening. If I do that, however, would that jeapordize my opportunity to receive my automatic CLI? Right now I am using the card just for my gas purchases and plan on paying the full statement balance each month. I would like a lot higher balance so I can also buy groceries and not have it ding my credit score for utilization. Any advice would be appreciated!

Discover IT 2k, Capital One Platinum 1.25k, Fingerhut Advantage 1.1k, Capital One Quicksilver 1k, Target 500, AMEX BCE 500, Dillard's 200

[gdale6]

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@Anonymous wrote:

I've been working hard to rebuild my credit and have gotten all my Vantage Scores in the 660 range and my FICO scores in the 640 range. I recently applied for a Blue Cash Everyday card from American Express because Credit Karma said I had good approval odds. I was approved, but without the bonus offer and only a $500 limit. I received an email a couple days later stating that if I made my minimum payment on time and carried a balance each statement for 5 months that I would automatically receive a credit limit increase. I have read in many posts on here to request your initial CLI on the 61st day after account opening. If I do that, however, would that jeapordize my opportunity to receive my automatic CLI? Right now I am using the card just for my gas purchases and plan on paying the full statement balance each month. I would like a lot higher balance so I can also buy groceries and not have it ding my credit score for utilization. Any advice would be appreciated!

Discover IT 2k, Capital One Platinum 1.25k, Fingerhut Advantage 1.1k, Capital One Quicksilver 1k, Target 500, AMEX BCE 500, Dillard's 200

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Welcome to the board

You can make multi payments in a month and use the card for much more than just the 500..

[Anonymous]

Yeah I know. I'm just mainly concerned that if I asked for the CLI at the 61 day mark, it might bar me from the automatic CLI regardless if I am approved or not. Was hoping maybe someone on here has dealt with a similar situation.

[Anonymous]

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@Anonymous wrote:

Yeah I know. I'm just mainly concerned that if I asked for the CLI at the 61 day mark, it might bar me from the automatic CLI regardless if I am approved or not. Was hoping maybe someone on here has dealt with a similar situation.

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Well ... you're kind of in new territory. 

This new "steps" type program just popped up with Amex and a couple of other people have posted about it too. 

We don't really know if they'll do the CLI at the 61 day mark, or if there are no CLIs available to people in the program until after they received that CLI after the fifth statement

[AverageJoesCredit]

One of our fellow posters, Medicgrrl, her sister is in credit steps and was able to get s 3x cli at day 61 so it is possible. Just YMMV. I would judge it by where your report was when approved and where you are at day 61. If you see a significant improvement, and Amex has updated your Fico reflecting that i would think it might be better to go for it but thats just a thought

[medicgrrl]

Just to follow up what AVJ stated, my sis started with CL of $1800. She uses the card a lot and pays it off or nearly in full twice a month. She had a collection on her report that has since been removed so her score's really jumped. She still has late payments on her report, with her most recent 30 day in October of 2016.

I would call AMEX and ask them if you attempt it now will it take you out of that program or will you still be eligible if denied for the CLI

[Anonymous]

Thanks for the advice! I'll just give them a call first when I hit my 60 day mark. I'm really focusing on keeping low utilation by paying multiple times a month and paying off the statement balance each month. I'm hoping to get some CLIs on my current cards so 6months to a year down the road I'm more attractive to some the cards I really want!