Hey all-- I searched but didn't see the info I'm looking for here. My AMEX Blue Cash/Everyday card has a reasonably low limit, Appx. $2K. I've had that UTIL up to 80% early last year. I'm now at about 30%, and I'll be paying off the card in about 6 months or so. I also have two "Plan-It's" on the card. One has one payment left; the other's at I think 13 left (My balance won't last that long though.)
Recovering, rebuilding profile. Lots of new activity over the past 12 months on my profile, most of it good. I was denied a CLI by AMEX last month-- First reason, too many inq's; 2nd reason, proportion of balances (yada yada. More on that below.) .
I would like to get back into AMEX's good graces, and I'm afraid of a CLD. (My total UTIL is now at 40%, in part from consolidation loans (one in August; one in December.); I'm also working total UTIL down as assertively as possible.) Anyone have any experience of what 'happens' to AMEX when you pay down a line to $0, and then sit there at $0 a minute?
I'd love to see them (1) Offer me a CLI; (2) Offer me a reduction of rate; (3) Offer me a decent BT offer; (4) NOT say "Hi-- I know your score's improved almost 100 points in the past year, but we're cutting you anyway."
What's my best strategy to entice them toward a decent look my direction? Put money on the card again immediately? Sit for 3 months (or more) at $0.00? Thank you for any info, intel, data, or educated guesses.
Amex usually does not offer bts, they are normally reserved for when you first get the card, and even those are capped.
Apr reductions can be ecentually achieved in time if your reports are good and they are in good mood.
A select few actually get offered cli but the vast majority have to ask for it and there are strict rules in doing so. If you were rejected you must wait 90 days before trying agsin or you will be auto rejected. Best advice is to lower your utilization with them and overall. Good luck
Apr reductions can be ecentually achieved in time if your reports are good and they are in good mood.
A select few actually get offered cli but the vast majority have to ask for it and there are strict rules in doing so. If you were rejected you must wait 90 days before trying agsin or you will be auto rejected. Best advice is to lower your utilization with them and overall. Good luck
Amex rewards low risk credit behaviors, and is wary of high risk credit behaviors.
Carrying large-ish balances, increasing balances, moving balances around - is a sign that a person is having difficulties paying off the money they borrowed/is possibly overextended. This indicates a lender may be at risk for not getting paid back.
Lots of account activity (inquiries/new accounts/credit seeking) can also be a sign that someone is in financial troubles and seeking additional sources of credit. Again-a lender may be at risk for not getting paid back.
If you have past defaults/lates/etc, then you’re already considered a risk-even if your current credit behavior is perfect. Either of the above (balances and/or credit seeking) paired with a profile with past blemishes is going to make a lender even more gun-shy.
What can you do? Reduce your overall debt. Pay down card and loan balances. Let new account activity age. It’s understandable that rebuilders can be aggressive with credit seeking-but the only way to lose the perception of risk associated with it is to not be credit seeking for a period of time.
The best way to be in Amex good graces is to be a low risk credit user. They will reward you handsomely.
They most likely aren’t going to CLD you after 3 months of inactivity. I would NOT recommend putting money on the card just to put money on the card.
Carrying large-ish balances, increasing balances, moving balances around - is a sign that a person is having difficulties paying off the money they borrowed/is possibly overextended. This indicates a lender may be at risk for not getting paid back.
Lots of account activity (inquiries/new accounts/credit seeking) can also be a sign that someone is in financial troubles and seeking additional sources of credit. Again-a lender may be at risk for not getting paid back.
If you have past defaults/lates/etc, then you’re already considered a risk-even if your current credit behavior is perfect. Either of the above (balances and/or credit seeking) paired with a profile with past blemishes is going to make a lender even more gun-shy.
What can you do? Reduce your overall debt. Pay down card and loan balances. Let new account activity age. It’s understandable that rebuilders can be aggressive with credit seeking-but the only way to lose the perception of risk associated with it is to not be credit seeking for a period of time.
The best way to be in Amex good graces is to be a low risk credit user. They will reward you handsomely.
They most likely aren’t going to CLD you after 3 months of inactivity. I would NOT recommend putting money on the card just to put money on the card.
Thanks to you both. This card has been open 6 years, had a balance-chasing CLD in the past (2015/16) and I just want to inch slowly back up with them. $250 at a time would be fine. As I said, my big fear is they close me and my util suffers.
Do they get more anxious from spending or from NON spending? Has anyone ever put them in the SD for 3-6 months after working down from 80%? What happened?
Do they get more anxious from spending or from NON spending? Has anyone ever put them in the SD for 3-6 months after working down from 80%? What happened?
Thank you, @I_love_cards!
I’ve had a couple of $1k Amex cards that have had high Util reported for several months - although I was cycling through the limit (meaning that I was paying off what was reported and the next month was a new high balance).
Those cards have been at $0 for months and no action yet (they aren’t at $1k anymore).
Amex DID get their panties in a wad about my Util in November and they cut the POT limit (that I’ve never used) on my Gold card. I was in the process of doing several balance transfers (one to AMex but otherwise all other lenders) and at the time, many were reporting on both accounts (Amex SP’s me every 2-3 days).
I am a very risky borrower. I have past transgressions, I credit seem like it’s my job, and what they saw as increasing overall balances was the straw that led them to reduce their risk in the event that I defaulted.
I have gotten CLI. I have never attempted an APR reduction (nor would I until my angelic credit user halo is polished up). My one Amex BT was when I opened the card.
But I wouldn’t worry about a card sitting with $0 for a few months.
Those cards have been at $0 for months and no action yet (they aren’t at $1k anymore).
Amex DID get their panties in a wad about my Util in November and they cut the POT limit (that I’ve never used) on my Gold card. I was in the process of doing several balance transfers (one to AMex but otherwise all other lenders) and at the time, many were reporting on both accounts (Amex SP’s me every 2-3 days).
I am a very risky borrower. I have past transgressions, I credit seem like it’s my job, and what they saw as increasing overall balances was the straw that led them to reduce their risk in the event that I defaulted.
I have gotten CLI. I have never attempted an APR reduction (nor would I until my angelic credit user halo is polished up). My one Amex BT was when I opened the card.
But I wouldn’t worry about a card sitting with $0 for a few months.
