Amex cli decline.....I'm freaking out a bit

[TNTransplant]

@ takeshi74 wrote:

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@TNTransplant wrote:

Amex hates me.  I've been declined like clockwork every 90 days since I got my BCP, and I've had it almost 2 years now (May, '14).  I've never had a FR or anything like that.  I think they just don't like my SL debt - it's right at 100k right now.

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AmEx doesn't hate or like you.  It's your credit.  There's really no reason to expect them to suddenly approve you unless whatever they don't like about your credit has changed.  They're not just going to approve because X days have passed.

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Well, duh.  I really don't  take it personally - my "Amex hates me" comment was just an attempt at being facetious.  I have other cards with much higher limits that better suit my purpose, so my BCP is not that useful to me right now relative to my other cards.  I don't expect them to suddenly approve it simply because I've hit the 90-day window, but if I'm eligible to ask for a CLI then I will.  I may get lucky sometime, you never know. 

[TiggerDat]

I got the denial at the 61 day mark, but got an increase at a late date.  I don't use the card much right now, but when I change it to the BCE it will certainly get used a lot more.  I figure when I change it and use it, it will help.  Since my limit now is $5200 I am just going to let it sit there for a while before I even ask.  I don't want to spook them since I don't use the card much and ask for a CLI.  I might not even do it until after I app for a new card from them later this year.  I think I want the BCE and the BCP.  To me their best card is the BCP card.  I looked over all their cards and unless I am doing a lot of traveling then most don't make much sense, however the groceries at 6% rewards and gas at 3% do seem to make it more than worth it to have at least the BCP to max out the points.  In fact, depending on how much I spend on gas, two BCPs might be the best way to go, I will have to do a cost analysis on that at a later date.

You can convert the card to the BCE now and take advantage of the rewards on it.  Using it and getting those rewards would be nice and with good usage they might be better convinced to raise the limit.  After all, they balance things between usage and the CR.

[emptypockets]

They deny me all the time, easy come easy go....I have not had a AMEX CLI for over 1.5 years. My limits with them are fairly low - 12k for Delta, 5k for BCP, 4k on HH.

They said my available credit with others is sufficient, and my total revolving and installment balances are too high, in proportion to my income. My revolving balances are around 4k on 330k avail credit (around 1%). My installment balances are higher, because I recently re-fied a vehicle, and then leased a second vehicle. My income is decent (above 90k). The total I owe on the installments (car loans) is around 34k, so we are not even talking huge car payments either.

I try not to worry about it, I just use the cards regularly and PIF. If they give me a CLI, that would be nice. If not, oh well. They have yet to threaten any kind of AA.

[lhcole77]

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@emptypockets wrote:

They deny me all the time, easy come easy go....I have not had a AMEX CLI for over 1.5 years. My limits with them are fairly low - 12k for Delta, 5k for BCP, 4k on HH.

They said my available credit with others is sufficient, and my total revolving and installment balances are too high, in proportion to my income. My revolving balances are around 4k on 330k avail credit (around 1%). My installment balances are higher, because I recently re-fied a vehicle, and then leased a second vehicle. My income is decent (above 90k). The total I owe on the installments (car loans) is around 34k, so we are not even talking huge car payments either.

I try not to worry about it, I just use the cards regularly and PIF. If they give me a CLI, that would be nice. If not, oh well. They have yet to threaten any kind of AA.

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That's real talk

+1

[09Lexie]

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@emptypockets wrote:

They deny me all the time, easy come easy go....I have not had a AMEX CLI for over 1.5 years. My limits with them are fairly low - 12k for Delta, 5k for BCP, 4k on HH.

They said my available credit with others is sufficient, and my total revolving and installment balances are too high, in proportion to my income. My revolving balances are around 4k on 330k avail credit (around 1%). My installment balances are higher, because I recently re-fied a vehicle, and then leased a second vehicle. My income is decent (above 90k). The total I owe on the installments (car loans) is around 34k, so we are not even talking huge car payments either.

I try not to worry about it, I just use the cards regularly and PIF. If they give me a CLI, that would be nice. If not, oh well. They have yet to threaten any kind of AA.

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Sorry, but I can see their point.  Even though you do not utilize your avail credit, if you ever did that would be an extremely high dti.

[snowkitty]

@emptypockets Wow.....I didn't think any creditor would let you have that much credit over your income. I've been sweating out the fact that I have about 35k over mine. I feel better reading this stuff because I really felt like I messed up with Amex. I need to get over that with them because I've been on the up and up with them on my income. I think I've come so far in my credit journey that I'm always waiting to have the rug pulled out from under me which is silly I know. I've got several cards I want to close but I'm too chicken to do that too! lol

[red259]

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@snowkitty wrote:
@emptypockets Wow.....I didn't think any creditor would let you have that much credit over your income. I've been sweating out the fact that I have about 35k over mine. I feel better reading this stuff because I really felt like I messed up with Amex. I need to get over that with them because I've been on the up and up with them on my income. I think I've come so far in my credit journey that I'm always waiting to have the rug pulled out from under me which is silly I know. I've got several cards I want to close but I'm too chicken to do that too! lol

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+1 I know how you feel about waiting for the rug to be pulled out from under you. I feel this way a lot due to a thin file. In a few years I will feel much more comfortable. 

[emptypockets]

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@09Lexie wrote:

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@emptypockets wrote:

They deny me all the time, easy come easy go....I have not had a AMEX CLI for over 1.5 years. My limits with them are fairly low - 12k for Delta, 5k for BCP, 4k on HH.

They said my available credit with others is sufficient, and my total revolving and installment balances are too high, in proportion to my income. My revolving balances are around 4k on 330k avail credit (around 1%). My installment balances are higher, because I recently re-fied a vehicle, and then leased a second vehicle. My income is decent (above 90k). The total I owe on the installments (car loans) is around 34k, so we are not even talking huge car payments either.

I try not to worry about it, I just use the cards regularly and PIF. If they give me a CLI, that would be nice. If not, oh well. They have yet to threaten any kind of AA.

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Sorry, but I can see their point.  Even though you do not utilize your avail credit, if you ever did that would be an extremely high dti.

Available credit is not debt. I am sure I am not the only person on the board with a large amount of avail credit. It doesn't stop me from getting CLI's elsewhere, or new cards. if it stopped from getting something I needed, I would prob close something out.