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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


@tacpoly wrote:


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.

 


Could be.  I expected them to counter the $50k CLI request on Reserve.  For SPG, I was given the same reason as a secondary reason, which is why I said that reason on Reserve seemed a bit boilerplate given all of the additional revolving credit granted in the following year exceeding the original request with no change in income.

 

Again, not something I'm going to find out for sure unless I ask for another CLI or apply for a new product.  Neither are happening any time soon.

Message 51 of 82
MrDisco99
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

I'll just add my data...

 

Most of my revolving credit is less than 3 years old.  It's all in my sig.  I do have an Amex AU on my report that dates back to 1992 (hence the "Member since" date on my cards) but it's an old closed account.

 

I currently have $99K total revolving credit with Amex, 60K personal, 39K business.  Based on my record of success with CLIs and history of Amex pulling credit limits from other cards for new product approvals, it looks like they have me at a $100K cap.

 

This is a teensy bit shy of my reported income.  I've never submitted a 4506.

 

On top of that, I also have a $30K POT limit on my Gold card, which I've never used.

 

I never carry balances, except for a small one on my Barclay Apple card, which has never given me the impression that it's affected anything.

 

I put $3K to $5K of spend on Amex every month, mostly on the Gold and BBP... when I'm not working a bonus spend requirement for some other product, which is often the case.

 

Compared to your experience, it just seems like they are not very consistent with their UW.  But perhaps I'm overlooking something.

 

Message 52 of 82
K-in-Boston
Credit Mentor

Re: Achieving Very Large Amex Personal Revolving Limits

@MrDisco99 thanks for that!  Wow, almost at income parity is awesome.  So I do wonder if their methodology is different for how the revolving lines are split between personal and business cards.  Only $10k of my revolving totals are on the business side.  I used to make heavy use of my two $35k POT limits, but haven't used them at all since 2015.

Message 53 of 82
Anonymous
Not applicable

Re: Achieving Very Large Amex Personal Revolving Limits


@K-in-Boston wrote:

@MrDisco99 thanks for that!  Wow, almost at income parity is awesome.  So I do wonder if their methodology is different for how the revolving lines are split between personal and business cards.  Only $10k of my revolving totals are on the business side.  I used to make heavy use of my two $35k POT limits, but haven't used them at all since 2015.


That is good. Income parity doesn't apply to me though. My 35K line is nowhere near my income.

Message 54 of 82
pizza1
Community Leader
Super Contributor

Re: Achieving Very Large Amex Personal Revolving Limits


@M_Smart007 wrote:

@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


Never know....Smiley Happy

Message 55 of 82
KJinNC
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

I can't answer the main question, but will add an anecdote, the point being that I don't think they are consistent in such decisions. It may depend on someone's whim that day.

 

My anecdote is from last summer. I had a 1-2 month credit history that consisted of secured cards and an Amazon Store Card. Income low six figures. No derogs but quite a few inquiries already. I wanted a Gold Card. I qualify for CAP due to my company and its corporate card. The rumor was that you were guaranteed approval via CAP. I decided to be a test case.

 

So, I applied for Gold. As soon as I clicked the Submit button, I realized I had done it the wrong way (through the normal site, not the CAP site). In a panic, I went and applied again immediately via CAP. Denied for the first application. Second application cancelled. I wasn't sure how long I was supposed to wait to apply again, so I tried again a couple of days later. Also cancelled. Thought, hmm, it's SP and they're just cancelling, maybe there's no harm in trying several times. So I tried several times. My applications kept being canceled. Then eventually, I got a tax transcript demand. Scratched my head a bit, since I was applying for a charge card, and since Amex knew I had a corporate green card, and since my (accurate) claimed income wasn't all that high. Had fun imagining what was going through their minds - a scam artist gets hired by a huge company so he can get a charge card and run up thousands of dollars on it before skipping town. A janitor somehow gets a corporate card, then applies and lies about his income. Like, "what are these people thinking?" My suspicion is that there was some exasperated guy processing my applications who finally said, you know what, if I do the tax transcript demand, he'll have to stop applying.

 

This is going to sound crazy, but I actually had the Amex CEO's email address, and I emailed him to ask why they'd want a tax transcript in this case. He handed me off to a lady who called me to investigate. She got my information, and then eventually, talked with the department that approves and denies applications. She reported back to me that they stand by their decision, and that I should try again when my FICO score is above 700. Now, as it happens, my Experian FICO 8 score was well over 700 at the time. Like 740-ish. I took a screenshot of that and emailed it to her. I did not hear back. I decided I was simply not going to send them a tax transcript, that a card wasn't worth it to me. Kind of forgot about it, added to my secured Discover deposit, went on a cruise. Had spotty Internet connectivity. The last day of the cruise, got an email saying my application for an Amex Gold Card was approved. Read the email five or six times to make sure I wasn't misunderstanding it. Scratched my head some more and celebrated. When I got home, there it was in a thick envelope on my front doorstep.

 

Sorry for the length of that story, but I wanted to capture it in full detail, because it was a mind-bending experience that I still can't explain. Because of that, I would take any specific information you get from Amex about a card of CLI application with a grain of salt. Not sure it's a training issue or if they take advantage of their system to try to eliminate headaches, or what.

 

Speaking of CLIs. I have two Amex credit cards (they are in my sig), and I applied for a CLI on one of them about 65 days after opening them. This means late October or early November. I can't remember the exact date. I was denied. So, aware that it's been somewhere around 91 days since then, I have applied a couple of times lately for CLIs, figuring it would be cancelled if I was a few days too early. I get the message about a letter explaining their decision (ie denial). I have received a couple of letters. The last one said the one reason I was denied was "the length you have been an Amex customer is too short." I don't know if that means I tried before 91 days or if it is an actual credit-based denial with that as the credit reason. But in any case, I mention that to say this: a week ago, I was preapproved for every card Amex offers. Now, I am preapproved for only the Green Card. I might be preapproved for the other charge cards if I didn't already have them. I am not preapproved for any revolver, not even Delta Blue. Nothing has significantly changed on my credit reports in the meantime (Experian FICO 8 is 740+, no derogs, I've always been current with my Amex accounts etc). (Mod cut - these types of discussions are not acceptable nor permitted per the myFICO Forum Ettiquette Guidelines)



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 56 of 82
Anonymous
Not applicable

Re: Achieving Very Large Amex Personal Revolving Limits


@KJinNC wrote:

I can't answer the main question, but will add an anecdote, the point being that I don't think they are consistent in such decisions. It may depend on someone's whim that day.

 

My anecdote is from last summer. I had a 1-2 month credit history that consisted of secured cards and an Amazon Store Card. Income low six figures. No derogs but quite a few inquiries already. I wanted a Gold Card. I qualify for CAP due to my company and its corporate card. The rumor was that you were guaranteed approval via CAP. I decided to be a test case.

 

So, I applied for Gold. As soon as I clicked the Submit button, I realized I had done it the wrong way (through the normal site, not the CAP site). In a panic, I went and applied again immediately via CAP. Denied for the first application. Second application cancelled. I wasn't sure how long I was supposed to wait to apply again, so I tried again a couple of days later. Also cancelled. Thought, hmm, it's SP and they're just cancelling, maybe there's no harm in trying several times. So I tried several times. My applications kept being canceled. Then eventually, I got a tax transcript demand. Scratched my head a bit, since I was applying for a charge card, and since Amex knew I had a corporate green card, and since my (accurate) claimed income wasn't all that high. Had fun imagining what was going through their minds - a scam artist gets hired by a huge company so he can get a charge card and run up thousands of dollars on it before skipping town. A janitor somehow gets a corporate card, then applies and lies about his income. Like, "what are these people thinking?" My suspicion is that there was some exasperated guy processing my applications who finally said, you know what, if I do the tax transcript demand, he'll have to stop applying.

 

This is going to sound crazy, but I actually had the Amex CEO's email address, and I emailed him to ask why they'd want a tax transcript in this case. He handed me off to a lady who called me to investigate. She got my information, and then eventually, talked with the department that approves and denies applications. She reported back to me that they stand by their decision, and that I should try again when my FICO score is above 700. Now, as it happens, my Experian FICO 8 score was well over 700 at the time. Like 740-ish. I took a screenshot of that and emailed it to her. I did not hear back. I decided I was simply not going to send them a tax transcript, that a card wasn't worth it to me. Kind of forgot about it, added to my secured Discover deposit, went on a cruise. Had spotty Internet connectivity. The last day of the cruise, got an email saying my application for an Amex Gold Card was approved. Read the email five or six times to make sure I wasn't misunderstanding it. Scratched my head some more and celebrated. When I got home, there it was in a thick envelope on my front doorstep.

 

Sorry for the length of that story, but I wanted to capture it in full detail, because it was a mind-bending experience that I still can't explain. Because of that, I would take any specific information you get from Amex about a card of CLI application with a grain of salt. Not sure it's a training issue or if they take advantage of their system to try to eliminate headaches, or what.

 

Speaking of CLIs. I have two Amex credit cards (they are in my sig), and I applied for a CLI on one of them about 65 days after opening them. This means late October or early November. I can't remember the exact date. I was denied. So, aware that it's been somewhere around 91 days since then, I have applied a couple of times lately for CLIs, figuring it would be cancelled if I was a few days too early. I get the message about a letter explaining their decision (ie denial). I have received a couple of letters. The last one said the one reason I was denied was "the length you have been an Amex customer is too short." I don't know if that means I tried before 91 days or if it is an actual credit-based denial with that as the credit reason. But in any case, I mention that to say this: a week ago, I was preapproved for every card Amex offers. Now, I am preapproved for only the Green Card. I might be preapproved for the other charge cards if I didn't already have them. I am not preapproved for any revolver, not even Delta Blue. Nothing has significantly changed on my credit reports in the meantime (Experian FICO 8 is 740+, no derogs, I've always been current with my Amex accounts etc). (Mod cut - these types of discussions are not acceptable nor permitted per the myFICO Forum Ettiquette Guidelines)


Yeah, it makes it tough to try to figure out how to get results, or why an account was abruptly closed, or why a CLI is denied, then the next day its approved.

 

Could be software defects.

Message 57 of 82
KJinNC
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

I have no idea what the mod cut is about. To make is as non-confusing as possible as you read the post, the cut part was me speculating a reason someone at Amex may have put a block on applications (pretty much same reason as at the bottom of the third paragraph). But, it may also be some algorithm-based glitch. Who knows? Basic point: I wouldn't take reasons given by Amex for stuff like the OP is asking about as gospel, or permanent.



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 58 of 82
FinStar
Moderator Emeritus

Re: Achieving Very Large Amex Personal Revolving Limits


@KJinNC wrote:

I have no idea what the mod cut is about. To make is as non-confusing as possible as you read the post, the cut part was me speculating a reason someone at Amex may have put a block on applications. But, it may also be some algorithm-based glitch. Who knows? Basic point: I wouldn't take reasons given by Amex for stuff like the OP is asking about as gospel, or permanent.


Please read your PM @KJinNC 

Message 59 of 82
JamP
Valued Contributor

Re: Achieving Very Large Amex Personal Revolving Limits

I have a 55k BCE, I was going to stop at 50k but figured what the heck. I only get 5k every 3 months now.

I wonder where my cl may end up on this card 60k, 65k?

 

I've often thought about applying for another card but don't see any that I need at the moment. 

 

I could not imagine a 100k card, it sounds like what heck of a goal.

 

Good luck.

250k+ CL and climbing.
Message 60 of 82
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