Amex Income Verification

[Anonymous]

Good luck. Hope you get your increase.

[taxi818]

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@DomLS3 wrote:

I've had my AMEX BCP since November of 2014. I did my first 3x CLI back on January 26th, 2015 and was instant approved from $5,000 to $15,000. I've now waited 180 days (a little over actually) to do my next 3x CLI. I called AMEX and asked for a $30,000 increase to a total of $45,000.  The rep stated that in order for me to get approved for this, I would have to fill out an income verification form that would be emailed to me today. What exactly is this form? Will I have to attach bank statements or paystubs? Is this considered a FR?

Thanks

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So you asked for this without doing your Homework? hmm. Yes. as stated. 4506-t. They want to see your Tax returns. You probably can bring it down to 25k without them getting in your personal business. but each his own. no need to have a card that high. when they want to see what all my deductions and everything. They could simply ask for pay stubs and be happy.

[DomLS3]

I've been with AMEX since November of 2014... so about 9 months.

Credit profile is in my signature. All FICO scores are above 765. AAoA is about 3 years

[Anonymous]

Why do you want a $45K limit? That seems insanely high for a $70K income. That kind of exposure could end up being an issue if you try to apply for new cards or credit in the future, and that is not worth a slight help to your utilization. 

You might be never planning to use a significant amount of it, but to a creditor, they see the possibility you could max it out and have a hard time paying back a balance that's 64% of your annual income.

With the $15K, do you ever put more than a few thousand on it? If not, then you don't need $45K. $3K is only 20% of a $15K card, which is still well within the range for "good" utilization.

[NY2014]

I'm sorry I'm not attacking you and I do hope you make the right decision, and very well thought out .
My only going to commit the statement "that's what everyone else here does request CLI",

I've been around for a over a year. Or so I've only seen a small handful pro less than that even,. requesting 6x the initiated CLI prob less with Amex, the Income , 9 months only with Amex .

I've been a member Amex siince 2005 and yes my profile seems high over the limit, but I can support it . But not with one creditor

I totally agree with one Members @agentsmith stated. It will be very difficult to apply for other credit .

I just don't understand the Logic in this ?

But either way the forum is here for support I myself wish good luck and hope everything works out for you ..

[DomLS3]

I appreciate the comments. My reasoning behind "everyone else does this" is simply this: When I first read about the 3x CLI with Amex, I read that on the second 3x CLI, everyone was asking for the 3x in full ... whether it was $6k to $18k, or $10k to $30k. Some people said they were instantly approved for the second 3x CLI, some people said they had to send in more info, or something else. I pretty much just asked for the 2nd 3X CLI and thought "They are either going to say yes, say no, require more info, or immediately counter (I've read this happens a lot as well, which is what I was hoping they were going to do)" Didn't see any realm harm in it. What I'm probably going to do at this point is call them tomorrow and immediately request a CLI to $25k and not go through the remainder of the 4506-T process even though I've already submitted it.

[DomLS3]

I wanted to post an update to this in case anyone might have been in a similar situation. I called AMEX back today and requested to change the initial CLI increase from $45,000 down to $25,000 as suggested by members on this thread and was instantly approved without the need of any forms or verification. Score!

[OmarGB9]

^we told you lol.

[NY2014]

Well Done congrats
I am very happy for you . That's what this forum is about. Only advise and experience of others. Let that card grow , take care of Amex and they will take care of You .
Again You did a great Job
Big Comgrats !!👍🏻💥🎐🎊👑🎉

[NY2014]

Post your approval in the approval Thread
You earned it ! 😎