Amex Costco 112 day CLI... DENIED

Creditaddict · ‎11-21-2011

WHAT??? I have not seen one person report Declined or at least countered... Should they call tomorrow and ask if a lower amount would be approved?

It was open with $7500 and have spent almost 2k each month with PIF, payment cleared Friday for last bill and ask for increase to 20k, not even the full 3x... I'm so confused!

LS2982 · ‎11-21-2011

@Creditaddict wrote:
WHAT??? I have not seen one person report Declined or at least countered... Should they call tomorrow and ask if a lower amount would be approved?
It was open with $7500 and have spent almost 2k each month with PIF, payment cleared Friday for last bill and ask for increase to 20k, not even the full 3x... I'm so confused!

I think you asked for too much. Maybe try 10K if they call.

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Creditaddict · ‎11-21-2011

Has anyone been denied and gone back in the next day and ask for say just 2x current CL and got it, or wait the 6 months now?

AndySoCal · ‎11-21-2011

The basis for a CLI approval is not just your payment history with a creditor. The credit evaluates what is termed your credit worthiness. Credit worthiness includes your income and credit history with all creditors IE your whole credit picture. Why do you want a CLI your using about 12% utilzation on the card?

One more question when is the last time you asked for CLI ? One other premise a creditor uses that a consumer only applies for credit that they need. If you have had the card for 112 days or that was the last CLI request you asked way too soon. With AMEX I would wait at least year two would be better.

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Anonymous · ‎11-21-2011

@Creditaddict wrote:
Has anyone been denied and gone back in the next day and ask for say just 2x current CL and got it, or wait the 6 months now?

You have to consider the fact that doubling your CL would take you to $15k (I know you know the math, that's not what I mean). $15k is a pretty high CL, especially for the Amex - Queen of Conservative.

ChemGuy · ‎11-21-2011

@Anonymous wrote:
@Creditaddict wrote:
Has anyone been denied and gone back in the next day and ask for say just 2x current CL and got it, or wait the 6 months now?

You have to consider the fact that doubling your CL would take you to $15k (I know you know the math, that's not what I mean). $15k is a pretty high CL, especially for the Amex - Queen of Conservative.
I agree with this, plus you still have chargeoffs reporting. I know Amex says you can request 3x, but I'd never actually try for that. The highest percentage I ever tried for was 2x (going from 5-10K).

Think about it this way: nearly 4 months ago, Amex gave you 7.5K. It would be kinda odd if in such short a period of time they decided they made a mistake and $20K was more appropriate.....

Walt_K · ‎11-22-2011

@Creditaddict wrote:
WHAT??? I have not seen one person report Declined or at least countered... Should they call tomorrow and ask if a lower amount would be approved?
It was open with $7500 and have spent almost 2k each month with PIF, payment cleared Friday for last bill and ask for increase to 20k, not even the full 3x... I'm so confused!

There actually was a straight decline post not too long ago, week or two. Amex declined with no counter. Re your follow-up post after this one, do you have to wait the full six months after they decline you, or is there a lesser period, say 90 days?

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Creditaddict · ‎11-22-2011

@ChemGuy wrote:

@Anonymous wrote:
@Creditaddict wrote:
Has anyone been denied and gone back in the next day and ask for say just 2x current CL and got it, or wait the 6 months now?

You have to consider the fact that doubling your CL would take you to $15k (I know you know the math, that's not what I mean). $15k is a pretty high CL, especially for the Amex - Queen of Conservative.
I agree with this, plus you still have chargeoffs reporting. I know Amex says you can request 3x, but I'd never actually try for that. The highest percentage I ever tried for was 2x (going from 5-10K).

Think about it this way: nearly 4 months ago, Amex gave you 7.5K. It would be kinda odd if in such short a period of time they decided they made a mistake and $20K was more appropriate.....

oh no, this account is not mine, I'm just helping... no collections or sorts for his credit! I'm not saying the 20k is needed or really even 7k but I would say 90% of what I have been reading for several months now has been the 3x on 61 days...

So does anyone know if he can go back in today and request say 12k or is he locked out for that until 6 months?