Amex 61 3x advice

[aesl1982]

So My daughter got Amex everyday card 4/6. 1000 limit she Ran 250 through it, first statement cut showing 250 I paid it off day after statement cut. Then She ran 1000 paid it and ran another 1000 through and paid it. Before the second statement cuts Tommorow. My 61 days is SAturday. Did I do enough or do it properly for the 3x. 

[Anonymous]

Big spend isn't technically a requirement for a CLI, though it certainly doesn't hurt either. And there's no guarantee for a 3X increase, a person's income and profile determin that more than how much you ran through the card in 60 days. Heck anyone could do that, and I'm sure by now Amex has learned a few lessons.

Being as it was a $1K SL, I suspect it one of those slower growers, and it will take a couple more CLI attmepts before it really gets going.

All you can do is enter the info, press the button and hope for the best.

[K-in-Boston]

I'd say everything was done right.  Spend alone won't always do it, but the worst that can happen is they say no and you ask again in 91 days.  If you get a 2x or 3x, ask again in 181 days.  As long as there's nothing holding it back like income, negative credit info, or previous unsatisfactory relationship, 2x and 3x CLIs can make it a monster credit line in just a year or two.

[aesl1982]

Thanks, yah her profile is new, but she was an AU in a couple of our cards that were a few years old so she started with a 750. Then her first two cards were 15k from nfcu and 1k from Amex. Same day. 

[notmyrealname23]

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@K-in-Boston wrote:

I'd say everything was done right.  Spend alone won't always do it, but the worst that can happen is they say no and you ask again in 91 days.  If you get a 2x or 3x, ask again in 181 days.  As long as there's nothing holding it back like income, negative credit info, or previous unsatisfactory relationship, 2x and 3x CLIs can make it a monster credit line in just a year or two.

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They definitely said "no" to me on an AMEX Hilton @ 1k at 61 days, though they just gave me an AMEX Aspire for 3.1k, so... net I'm up more than 3x. I might just leave the no-AF card small for now and grow the Aspire since it's mean to be my college age kid's "emergency card" when I'm away.

Reason is FICO: I'm at somewhere in the 650-675 range depending on who you ask. Well, this soon shall pass, modeling on AMEX's site shows I should spike 20 points once I pay off a 0% offer from Discover in a month, and my Ch. 13 will start to fall off once I ask later this summer, all the way through January 2021.

[Anonymous]

@aesl1982  I agree but spend isn't a requirement but it helps. I was approved for a delta gold $2k and an everyday card $1k 70 days ago. I only spent 500 in total over the past 70 days. However, my score did go up 20 points. I would check the Amex fico score soft pull to see if there was an increase and honestly just go for it. I was approved for $2k-$6k on my delta a couple days ago and moved limits around and have $6k everyday $1k delta. Worst case is a denial and just waiting 181 days to go again. 
I believe if you have a score over 700 you're good to go and if you do not but there is a large increase that could suffice as well! I have heard lower limits $1k-$2k usually get declined for the cli but I did not find this to be the case! It did help that my utilization at application went from 10%-1% and my single card utilization went from 60% -0% on one so they saw some very low utilization's. Goodluck! 

[aesl1982]

Hit the love button for her and got the thanks we will reply by mail in 7-10 days with decision. So I'm guessing that's a big no lol

[Remedios]

@aesl1982  I'm sorry 

That's pretty typical for $500-$1000 approvals. It has nothing to do with spend, you could have cycled through the limit 10 times, and the end result would be the same. 

It usually takes a little bit of time for those accounts to receive increase, usually after six months to a year. 

[AverageJoesCredit]

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@aesl1982 wrote:

Thanks, yah her profile is new, but she was an AU in a couple of our cards that were a few years old so she started with a 750. Then her first two cards were 15k from nfcu and 1k from Amex. Same day. 

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Looks good to go, in hands of Amex now though ill add really cant compare Navy to Amex or anyone else lol. Who else would give a new profile 15k out of the gate

[Remedios]

NFCU is "different", to say the least. 

Their approvals tend to cause a lot of confusion though,  because in a way, they create unreasonable expectation that every lender will behave in a similar manner, or that being approved for one high limit will result in others following the same path. 

Almost no one else does, so in my opinion, one should "exempt" navy approvals when setting expectations on future approvals.