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Achieving Very Large Amex Personal Revolving Limits

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wasCB14
Super Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:


That certainly sounds like a headache.  In your case, though, it's just a matter of Amex being firm that the only allowable documentation for a CLI request is a Form 4506-T and that the previous year's tax return will not be available until after August.  That certainly can be frustrating for those with different scenarios besides being a W-2 employee.  In my own case, I submitted per their rules and requirements and still got no results.


My point, which I should have been clearer about, was that I too have found Amex to have a very rigid view of income...not being interested in your deductions or my irregular documentation.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 21 of 82
Anonymous
Not applicable

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

Yes, I carry mind-boggling balances on a few cards at low/no interest (in hindsight, I should have at least considered filing BK when the markets crashed but instead paid several annual incomes in interest), but they're been on a major downward trend for the past 4 or 5 years after being stagnant for ages.  Other than utilization in the past, no credit issues - not even a 1-day late.


That's what I figured. You don't impress me as one who pays late. And with your long history, there's no way your scores are only around 800 with no balances. 

Message 22 of 82
Remedios
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

Yes, I carry mind-boggling balances on a few cards at low/no interest (in hindsight, I should have at least considered filing BK when the markets crashed but instead paid several annual incomes in interest), but they're been on a major downward trend for the past 4 or 5 years after being stagnant for ages.  Other than utilization in the past, no credit issues - not even a 1-day late.


 

They aren't concerned with your balances. Amex is not exactly shy at expressing their displeasure if they feel like there is a problem in the making. 

They kinda like you.

 

With that said, since you found this forum, you've had a busy and active profile.  You dont rely on them as much as you used to, so their grasp on your finances has lessened somewhat. 

When your entire credit life went through their hands, good or bad, they knew what was going on. 

Now with new accounts, BT here and there, they probably aren't quite sure what to make of it. They will relax as your profile experiences down times. 

 

If you had a misbehaving child (you ain't, but metaphors, yo) you'd feel better if they were misbehaving at home than in the public away from you, because at home you know exactly what they are doing, however pleasant or unpleasant it may be. 

 

While they haven't given you more lately, they haven't taken anything away, which is also a very good indicator on where you stand with them. 

 

 

 

 

Message 23 of 82
Anonymous
Not applicable

Re: Achieving Very Large Amex Personal Revolving Limits


@Peteyglad wrote:

Not sure what I can offer except for a few data points. I have 3 cards with a total limit of 92k. I also put $100k on my cards with roughly $70k of it on my EDP. Credit scores all in the low 800's. Reported income of 200k. I have yet to fill out a 4506, but I have been at my current limits for a year now with no increases. Even when I put in a CLI for 1k they want a 4506.


I am exactly at the same situation.  My income is much higher / fico scores in 770s and I cannot receive a 1,000 increase.  Each time 4506 notice for a whole year.

Last year my spending was around 90k (2 chargea / 5 revolvers)  and my CL stopped at 99.5k since the beginning of 2019.   Considering Amex extended almost 100k in just two years, it is kinda understandable.  I would not release 4506 when I do not really need any substantial extra credit line.   My cards show member since 1989....but rebuiling(?) started only 3 years ago after decades of no credit.  I assume Amex still keeps some form of spending records since 80s.  Otherwise they would not extend 100k in a short period.

Message 24 of 82
Shadowfactor
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

Is there a reason you want it on the personal side and not a sole prop business card ?

 

We have some connections with a business sales rep and underwriter that work as a team. 

 

I can see what I can find out for you, a friend of mine has a manual underwriter that he speaks to on a daily basis for his corporate cards. He's a bill aggregator and charges obscene amounts of money. Sometimes over 10mil a day. I can see if he can ask a specific question. 





Total Revolving Limits $254,800

Message 25 of 82
redpat
Senior Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

K, if Amex is your preferred cc lender would you thin the herd and see if you get any results?

It can't hurt and you can always reload if you don't get the results you want.  I went all in w/ Amex and only have one chase and citi card personally and one chase biz card.  

I had similar issues w/ high util years past and really didn't understand it but always paid on time and everything off.  I think this resulted in getting higher SLs and of course having income to support then along w/ good scores.  The funny thing is now all three of mine are well over 800 and I don't want to apply for cards.  All my cards came with lower scores.

 

Once you climb the mountain and get approved for all the cards you thought you wanted, then finding out you really didn't need them it really becomes "ho hum" after awhile.  Sure I could app for some more cards but wth am I going to do with them. 

 

Personal Cards: Amex Plat | Amex Delta Res | CSR | Citi AA Exec Business Cards: Ink+ | Amex BGR
Message 26 of 82
wasCB14
Super Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@Shadowfactor wrote:

Is there a reason you want it on the personal side and not a sole prop business card ?

 

We have some connections with a business sales rep and underwriter that work as a team. 

 

I can see what I can find out for you, a friend of mine has a manual underwriter that he speaks to on a daily basis for his corporate cards. He's a bill aggregator and charges obscene amounts of money. Sometimes over 10mil a day. I can see if he can ask a specific question. 


My understanding is that K's spend is almost entirely personal.

 

Amex generally doesn't need many details to approve personal guarantee business cards, but they sometimes want a lot more business information before approving significant CLI requests.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
Business use: Amex Bus. Plat., BBP, Lowes Amex AU, CFU AU
Perks: Delta Plat., United Explorer, IHG49, Hyatt, "Old SPG"
Mostly SD: Freedom Flex, Freedom, Arrival
Upgrade/Downgrade games: ED, BCE
SUB chasing: AA Platinum Select
Message 27 of 82
SouthJamaica
Mega Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

So having gone through the 4506-T process with Amex twice with no luck, I'm curious as to what the Amex underwriters are looking for when granting very large revolving credit lines.  I know there are at least a few of you here with exceptionally high limits, and perhaps some I'm not aware of, so I'd be interested to read what's worked for you.

 

A little background - back in early 2018 I had a $21,000 Starwood Preferred Guest card and because I like the float between statement cut and due date, I was consistently running into issues with my organic monthly spend exceeding my credit line by several thousand dollars each month.  I requested a CLI to $63,000, submitted a 4506-T, and after what seemed like ages, I was denied for the information on my tax transcripts not matching stated income.  Income hadn't really changed, but I have significant 5-digit pre-tax deductions that lower my taxable income.  One would think that Amex would keep in mind that this is true for a lot of people, and the variance was only about 10%.  So while it may have been a large raw dollar amount, I can't imagine them denying someone for the same reason if they reported $33,000 income and their tax transcripts showed $30,000.  I called to try to recon it, but was told that the underwriting decisions were final and that I should ask again later.  I waited 91 days, asked again without the 4506-T and got a CLI to $35k then a few months later got approved for a pair of Delta cards with $10,000 starting lines, so it's not like I was really capped since they gave me another $34,000 in revolving credit over the next few months.  And previous playing with the No-No Button (Check Spending Ability) showed me that Amex would approve obscene charges on my Platinum charge card higher than my current combined revolving limits.

 

I've been "stuck" at $74,500 combined revolving limits since March 2019, and my 2018 Amex personal spending exceeded $100k, including over $75k on a single card (SPG/SPG Luxury).  I submitted another 4506-T back in September for a CLI on my Delta Reserve (which is at $50k; I think I asked for a 2x to $100k), my daily driver for all non-category spending.  Same income as last time, and my 2017/2018 tax transcripts were pretty much identical to the 2016/2017 tax transcripts they saw before, but instead of the mismatch reason I got before, I got a revolving limits appropriate for income reason.

 

I have 18 years of experience running huge amounts of personal spending through my American Express cards, as well as income and scores that should easily support higher credit lines.  I see so many others here on the forums with pretty much the same limits and a fraction of the spend.  If I'm putting all of this through them and getting similar results as someone putting a few thousand dollars a year of groceries through a revolver, what do the underwriters want to see in order to raise my limits?


My suggestion would be to ask for more modest limits. It seems to me that you might be calling attention to yourself when you request a 63k limit on a 21k card.

 

FWIW I'm a MUCH smaller customer than you, and have combined limits of 95k, not counting the working capital account. Or is that unrelated because I have mostly business cards?

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 28 of 82
K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits

Cutting cards out isn't something I'm interested in doing at this point, but possibly something to try later on.  Yes, my spending is pretty much exclusively personal.  I'm not at all worried about drawing attention to myself; when Amex asked me for a 4506-T that first time, it was submitted in seconds.  They've had plenty of time to get to know me. 

 

At the time that I asked for a CLI from $21k to $63k, that certainly wasn't an unreasonable amount whatsoever on SPG since by the time my payments would post I was consistently having balances in the $22-25k range (well over the limit) for months on end (with statement balances of $10-15k).  Things have to scale.  If someone were consistenty having balances of $2500 on a $2100 card, it's not unreasonable to ask for a $6300 credit line but often the limits can be astronomical compared to spend.  One of the mild frustrations I expressed in the first post was that I see so many people here with say $35k revolving cards from Amex that are putting a few thousand a year on their cards at most.

 

It occurred to me later that I actually missed one of the $14k CLIs in my first post, so actually in the 9 months after being denied that $21k to $63k line increase, they granted me two new $10k cards and two $14k CLIs, a total of $48k which was more than the $42k I asked for that first time around.  Then about 8 months later, I got an additional $10k when I opened Delta Reserve, to which I moved $40k of the SPG/Marriott card's limit.

 

It's likely that I'll try to open another revolver with them either at the end of the year or beginning of next year, so it'll be interesting to see if they once again grant me a new credit line of $10k or so, or have me reallocate it from other cards.

Message 29 of 82
imaximous
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

K, are you opposed to using business cards? I think it's safe to say that Amex couldn't care less about the type of spend that goes on their cards as long as you pay them back, and that's certainly not a concern.
You mentioned that you enjoy the float period between statement cycles and due dates, but that can be a big concern when dealing with personal cards that report your statement balance. You wouldn't have to worry about that by moving spend to business cards. I realize that I'm stating the obvious and something you already know, but I still believe that should solve part of your problem. We constantly exceed the limit on 2 Amex biz cards by a lot -- sometimes double or close to triple the limits ($20k and $30k limits). Everything gets paid in full by due date. This is something where Amex is miles ahead of the rest. Even though the limits aren't high, just being able to go way beyond the limits and float those figures is a tremendous benefit for us.
Message 30 of 82
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