Amex 61 DAY cli DENIED and 90 DAY CLI DENIED

[rlx01]

You're using the card wrong. Why would they CLI you if you're putting $200 on it a month?

Your util on the card is irrelevant until your statement closes. You should be putting ALL your spend on it, and if you get close to the limit, pay it down online *before the statement closes*. You should even attempt to close it with a $0 balance. That way AMEX sees you're a heavy spender and you're not a risk -> CLI.

This 10% util thing is really misunderstood on the forums. First, it's wrong. Second, it's only useful when you're planning to app for something. And it's not 10%. It's *one* reported balance on *one* card out of all your cards. This could be $1, but should be less than $500 or 10% of your total CL, whichever is lower. The rest should be reporting $0.

[Pat94108]

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@rlx01 wrote:

This 10% util thing is really misunderstood on the forums. First, it's wrong. Second, it's only useful when you're planning to app for something. And it's not 10%. It's *one* reported balance on *one* card out of all your cards. This could be $1, but should be less than $500 or 10% of your total CL, whichever is lower. The rest should be reporting $0.

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+1 It's only relevant if you plan to app for something and you need the best possible terms, outcome etc. My guess with the OP is that he was using too little of his credit line. Amex likes big spenders so they probably don't see why they should give someone a CLI when they only use 10% of their limit. The new tradelines might have also contributed if they saw them. 

[JediNeo]

When I first got my amex card CL was $8000. One of my first purchases was a $600 vacation package. Along with some groceries and gas. While I didn't let it report my high utilization (prepay) I would say I easily put about $3000 on the card before my 61 days.

When time came to request my reported utl was low, and request my 3x cli, didn't get it all but was offered $12,500.

[BruinTheNursePractitioner]

To the Orignal Poster,

Hi!  I've had my AmEx cards since January of this year.  After 60 days I app'ed for the 3x on each of my revolvers and was declines on both. Each subsequent 90 days I app'ed and was DENIED.  I was like [Mod Cut] I'm not gonna use thier cards then.  They don't deserve my business with my over 100K income per year.

Currently, I'm talking wtih the Executive Offices of AmEx. Hopefully they can raise my limits.  I do have tons of inquires (almost 40), as for I bought a new car and have opened 10 tradelines with the past 1.5 years.  So that's probs why they'r enot granting me a CLI. 

But regadless, INQ mean [edit]nothing!  You know what means something?? PAYMENT hx and util ratio.  Mine is perfect and 1% every month.  

Ugh...so...I'm joining the "The hate AmEx" bandwagon with you.

Mod cut/edit:  attempted to disguise profanity~Lexie

[FinStar]

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@BruinTheNursePractitioner wrote:

To the Orignal Poster,

Hi!  I've had my AmEx cards since January of this year.  After 60 days I app'ed for the 3x on each of my revolvers and was declines on both. Each subsequent 90 days I app'ed and was DENIED.  I was like [mod cut]...I'm not gonna use thier cards then.  They don't deserve my business with my over 100K income per year.

Currently, I'm talking wtih the Executive Offices of AmEx. Hopefully they can raise my limits.  I do have tons of inquires (almost 40), as for I bought a new car and have opened 10 tradelines with the past 1.5 years.  So that's probs why they'r enot granting me a CLI. 

But regadless, INQ mean [edit] nothing! You know what means something?? PAYMENT hx and util ratio.  Mine is perfect and 1% every month.  

Ugh...so...I'm joining the "The hate AmEx" bandwagon with you.

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Your $100K salary means nothing to AMEX if you're not using the CCs as expected or intended.  AMEX is a spend-centric type of lender.  If you're only using a bare minimum on those accounts, don't expect a CLI or the internal CL to go upward.

Inquiries may not mean anything to you.  To lenders, quite a bit... and 40??  Hungry for credit?  That in itself is demonstrative of possible signs of overextension (notable exceptions for auto-financing or mortgage shopping) but still.  ALL factors are weighed by AMEX, your payments are by default a given (not a choice), utilization in it of itself is something they expect you to manage well.

[SunriseEarth]

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@BruinTheNursePractitioner wrote:

To the Orignal Poster,

Hi!  I've had my AmEx cards since January of this year.  After 60 days I app'ed for the 3x on each of my revolvers and was declines on both. Each subsequent 90 days I app'ed and was DENIED.  I was like [mod cut] I'm not gonna use thier cards then.  They don't deserve my business with my over 100K income per year.

Currently, I'm talking wtih the Executive Offices of AmEx. Hopefully they can raise my limits.  I do have tons of inquires (almost 40), as for I bought a new car and have opened 10 tradelines with the past 1.5 years.  So that's probs why they'r enot granting me a CLI. 

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Yeah, probably. 

[BruinTheNursePractitioner]

No offense SunriseEarth, but your sig show you have no AmEx cards...

How do you know how AmEx operates?

[rlx01]

FWIW, I had a credit history of an entire 6 months when AMEX approved a PRG + SPG (for 3.5K).

I put 5K/month through the SPG. 61-day CLI to 10.5K was instant, then another CLI 180 days after that to 23.5K was instant.

I under report my income to 110K (basically my salary on a W-2, minus investment income -- I have zero patience and if they FR me, it would be a very easy process).

Not that I would ever put 23.5K on a card, but if I ever need to book some first class international tickets back to Australia, I know I've got some room.

[FinStar]

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@BruinTheNursePractitioner wrote:

No offense SunriseEarth, but your sig show you have no AmEx cards...

How do you know how AmEx operates?

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I would be willing to bet he is not far off in assuming this was one of the reasons why your AMEX revolvers won't grow.  I have 6 AMEX CCs (biz & personal) dating back to mid-90s.

[BruinTheNursePractitioner]

Congrats, Rlx01!

I'm 24...so...I have time for my credit to grow.