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Achieving Very Large Amex Personal Revolving Limits

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K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits


@bourgogne wrote:

let me re-frame it, bring up your ex, what are these 2 #s?

 

021120 FILE.PNG


I just answered 9 years and change and 26 years in response to your previous two posts.  The issue is definitely not a lack of experience with credit.  There's no shortage of posters that were in diapers when I opened my first 3 Amex cards that have large Amex revolving limits.

Message 41 of 82
wasCB14
Super Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

@bourgogne wrote:

let me re-frame it, bring up your ex, what are these 2 #s?

 

021120 FILE.PNG


I just answered 9 years and change and 26 years in response to your previous two posts.  The issue is definitely not a lack of experience with credit.  There's no shortage of posters that were in diapers when I opened my first 3 Amex cards that have large Amex revolving limits.


Maybe the large POT limits crowd out higher "true revolver" limits a bit?

 

It may be a factor that apart the your toy Blue, your other revolvers...the cards you're actually seeking CLIs on...have all been opened in the last 3 years?

 

And details might help as to the "mind-boggling" balances you carry at low/no interest.

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 42 of 82
bourgogne
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

@bourgogne wrote:

let me re-frame it, bring up your ex, what are these 2 #s?

 

021120 FILE.PNG


I just answered 9 years and change and 26 years in response to your previous two posts.  The issue is definitely not a lack of experience with credit.  There's no shortage of posters that were in diapers when I opened my first 3 Amex cards that have large Amex revolving limits.


more of a looking than adding kind of person. again all I am going from is my profile and a few people I know.  I have had a lot of amex cards over the years and my sl is always north of 30, biz or personal.  I always adjust the limit to the same value, 30, no matter what they give me.  the only thing that me and my buddies have in common are very long file ages.  my full point recovery no matter what I do is 4-6 months to fully become whole.  I thought it was more like a year but I now have proof with my profile that this is not true as I did an app for something in 7/19 and I my scores are back to where they were.  the only time I have heard of this is with old file age.  never once have i given poi, returns, income proof, etc.  maybe amex just thinks you have enough credit.  maybe you will never find out.  most things in life we never find out so its not really that out there of a concept.  I totally get why you want a high limit if its a consumer card, its the reason I switched to pretty much only biz credit so i wish you luck

Message 43 of 82
K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits

"Toy Blue" 😂 I couldn't bring myself to close it, so I just moved everything to SPG when I opened it.  I never really used Amex revolvers until I opened SPG, and never knew I could even ask for a CLI from Amex prior to finding the forums so that card wasn't very big to begin with.  I was all about MRs until the SPG.

 

Balances are pretty big but have come down *tremendously* over the past few years. Overall utilization is in the single digits.  Experian FICO 8 is currently 803; my scores don't really change with new accounts added.  I've slowed down on new apps the past 2 years.

 

I get what everyone is saying about starting lines, but when you look at it as Amex basically giving me nearly $70k in new revolving limits the past 3 years between new accounts and SLs, I wasn't at all disappointed with the $10k starting lines.  My last credit card apps were Business Platinum last month and a BECU Card in December that had the maximum credit line of $40k as the starting limit.

 

Not sure what impact if any that the $35k POT limits have. Apparently my APR on those is a lot lower than most.  Up to 16s now but they were in the 13s and 14s before Prime Rate changes.

 

I'll probably not ask for a CLI from Amex for a while, but it'll be interesting to see what they do if I ultimately go for another revolver in 10-13 months.

 

There's no question that Amex likes me.  I'm just curious what seems to have worked for those that exceeded the $100k mark, that I haven't been able to do with them yet.  At least with Bank of America, I have the $99.9k and know that they want some Merrill holdings to push me over that.

 

 

Message 44 of 82
Anonymous
Not applicable

Re: Achieving Very Large Amex Personal Revolving Limits

Considering the amount of spend you put though your Amex cards, you would think that they're aware of your contributions. For whatever reasons you've not quite been able to get things to allign with them, though we've seen it many time where people are forced to spend/paydown, spend/paydown to stay under the limit etc. Yet no increases to accomodate said spend.

 

I think your only course of action is to speak to an UW one on one about a specific card that needs to be high enough to not worry about constant and inconvienent paydowns. Or you can take the long road and apply for several small CL card then combine into one, and close the donors.

Message 45 of 82
M_Smart007
Legendary Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@pizza1 wrote:

I have no business in this thread..

I was  trying to get my personal card above $500, LOL...Smiley Wink edit..I no longer have that card either. 


@pizza1, That probably helped someoneSmiley Happy

Message 46 of 82
K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits


@Anonymous wrote:

Considering the amount of spend you put though your Amex cards, you would think that they're aware of your contributions. For whatever reasons you've not quite been able to get things to allign with them, though we've seen it many time where people are forced to spend/paydown, spend/paydown to stay under the limit etc. Yet no increases to accomodate said spend.

 

I think your only course of action is to speak to an UW one on one about a specific card that needs to be high enough to not worry about constant and inconvienent paydowns. Or you can take the long road and apply for several small CL card then combine into one, and close the donors.


I'm not running into issues with the limits, that was 2017.  Never had to pay down, just went over the limit with no issues.  They threw money at me for a few years, it's just recently that it's dried up.  I have a $50k Delta Reserve card that I could add to if needed.  

 

The thread is really just about vanity and wanting an Amex card at $100k.

Message 47 of 82
tacpoly
Established Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

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?


I think Amex has told you the reason they're not granting you $100k+ limits:  not enough income.  Yes, it doesn't seem to make sense that they're still giving you $10k cards or allowing you to spend more every once in a while.  But perhaps there's a reason they're more protective of that high limit -- maybe they have data that suggest giving people $100k+ limits increase their spend but $10k limits don't.  

 

You've cited others with large limits but lower spend.  Do you know what their income and debt obligation are?  It could be that that is where they have a more favorable profile than you.

 

In any case, you are able to combine limits...can you not apply for more cards and combine them to get one card to $100k?  

Message 48 of 82
K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits

The "current limits appropriate for income" seems to be boilerplate.  Yes, I could likely open new cards and combine limits.  $10k approvals aren't exactly "marginal, just barely got in" approvals when there are existing high credit limits with the same lender.  If I look back at just the 9 month period shortly after being denied for an increase on my SPG card with that first 4506-T request, between June 2018 and March 2019, they gave me a $14,000 CLI on SPG, a $10,000 Delta Reserve, a $10,000 SkyMiles Platinum Business, followed by another $14,000 CLI on SPG (which was then in the transitional SPG Luxury stage).  Essentially "You don't have enough income to support a $42,000 credit line increase, but here's another $48,000."

 

I was just musing on a number of people with lower income and far less spend that seemed to also be able to get up to around the ballpark of where my current revolving limits are with Amex.  Economy of scale and all that.  Again, it's not so much a need as it is just to fulfill a personal vanity goal.  If persons X, Y, and Z, can get a $35,000 EveryDay Preferred with $3500 a year of spend per year on say $60k income and not a very long relationship with Amex, it seems plausible that person V might be able to get $100k with $100k+ of spend per year with significantly higher income and a long history with Amex.  Since everyone here exceeding $100k with Amex seems to have at least a decent amount of business spend, perhaps I've set my bar too high doing it solely on personal spend.

 

Again, it's likely that I'll apply for another revolving card product late 2020 or early 2021, and it'll be interesting to see if that results in additional revolving credit extended or a reallocation of credit lines and possible need to close an existing revolving product.

Message 49 of 82
tacpoly
Established Contributor

Re: Achieving Very Large Amex Personal Revolving Limits



Amex actually said you can't have an additional $50k on the Delta Reserve.  The SPG CLI request was denied because of a discrepancy between the tax transcripts and declared income.  So the relevant data would be what happened after your $50k CLI request.

 

Message 50 of 82
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