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@taxi818 wrote:
No problem. Bottom line. In little over a year. You can go from 1k to 25k. First increase. 61 days. 2nd increase 6 months later. And 6 months after that. You at 25k.
Yes, but to reiterate the obvious, this is by no means guaranteed, Amex can give less or none at all when you ask for a CLI. Too many here seem to have got the impression that it's more or less automatic.
@Jaylima91 wrote:
The thing is I'm not overly concerned with the 30 swipes per month rewards, I am interested in the 15 month 0% apr. I make big purchases a lot and $1k is too little. I agree with the fact that I have to show responsible use so I guess we will see what happens
Why the EDP rather than ED then? It's really the 50% bonus that makes the card worth its AF.
@Jaylima91 wrote:
So because of my limited credit history and my overall history withAmex I was approved for the EDP with a $1k CL. A whopping $1k!!!WTH!!! What should I do since that's just too little for me to use? Should I be patient and just wait? But I would hate to wait for the3xCLI since that would increase it to a whopping $3k! What would you guys recommend?
While the 61day rule for 3 x CLI is no longer set in stone my guess with a 1K approval your chance of success at activation is not looking too good Did you add a lot of new accounts in the past 12 months? I would wait and simply do multiple payments in the first 60 days and then try to CLI to 3K, continue to use and make multiple payments if still needed and request a CLI again after 3/6 months. Amex likes heavy usage and PIF. There are successful 2nd CLIs in less than 6 months as well. Since it is only a SP you could try to CLI earlier. That is what I would try. I would look at the letter from Amex and see what the reason is for the terms you got. Just a little patience now at the beginning but I am sure with increased history the card will grow. Good luck if you try at activation.
You can also always apply for another revolver now, most likely you will get a 5k limit lol.. Amex is weird, first cards they will approve for a low amount second cards a bigger amount.. My case in point Delta opened for 1k, 30 days later approx appplied for ED and got 10k SL and did the 3x on that , well not quite the full 3x but got it bumped to 23k.. Obviouslly that would hit your AAoA, but an option as well such as a BCE. Don't know why Amex operates this way, but alot of proof on this forum second approvals are higher with amex for whatever reason
@Jaylima91 wrote:
Excuse my ignorance but on the EDP when you hit the 30 transactions the 1x on all purchases turn into 1.5x?
Yes, you multioly 1.5, so uncategorized stuff gets 1.5MR per $, groceries get 4.5 and gas 3.