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Amex EDP

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Jaylima91
Established Contributor

Re: Amex EDP

Yeah that's exactly what I pictured. I just have to be patient. I know that I have less than 2 years of credit history and Amex have been kind enough to approve me for 2 charge cards and allow quite a bit of spending ability on those cards. I am thankful for that.
Message 21 of 32
longtimelurker
Epic Contributor

Re: Amex EDP


@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.

Message 22 of 32
longtimelurker
Epic Contributor

Re: Amex EDP


@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.

Message 23 of 32
taxi818
Super Contributor

Re: Amex EDP

Of course ltl. No guarantee.
Message 24 of 32
lg8302ch
Senior Contributor

Re: Amex EDP


@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 Smiley Sad  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.

Message 25 of 32
Jaylima91
Established Contributor

Re: Amex EDP

Excuse my ignorance but on the EDP when you hit the 30 transactions the 1x on all purchases turn into 1.5x?
Message 26 of 32
CreditCuriosity
Moderator Emeritus

Re: Amex EDP

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 Smiley Happy, 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

Message 27 of 32
longtimelurker
Epic Contributor

Re: Amex EDP


@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.   

Message 28 of 32
Jaylima91
Established Contributor

Re: Amex EDP

Thank you LTL
Message 29 of 32
Jaylima91
Established Contributor

Re: Amex EDP

I don't know if I would want to apply for another Amex revolver considering I was barely approved for the EDP and I already have a total of 3 Amex products. What do you guys think?
Message 30 of 32
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