@Anonymous wrote:
@Creditaddict wrote:
@chrisw1968uk wrote:
I guess im just afraid of a HP in the event of a decline - Approvals are SP's and Denials are HP's right? I shouldnt really be worried because i do not have high HP's and don't plan on apping for anything else soon
you are confusing your things with amex.
ONCE you have an amex ALL CLI are ALWAYS SP rather they are approved or denied and the system will ALWAYS counter if you do not ask for more than 3x and you qualify for something.
There have been cases here (and indeed this happened to my daugher earlier this year) where there is no counter. I think some of this advice, while it may be true, may also be simplistic. The assumption is that asking 1.5X, 2X or 3X (for example) always leads to the same outcome, via counter. We don't know if that is true (and it's very hard to test!).
So, it MAY be that if you ask for 3x at a certain level, you will get a 4506-T, which you wouldn't have if you had asked for 1.5x. Or you get rejected with no counter offer if you ask for 3x whereas a 1.5 would have been granted. Or not. But statemnets like "ALWAYS counter" are just wrong.
The point is that it doesn't hurt anything to ask and you have no idea what you would be approved for if you don't ask. No, there are no absolutes obviously. The likely outcomes are 1.) they approve the full 3X CLI 2.) they counter 3.) they deny
Sure, I suppose it's possible they could request documentation at 3X especially if 3X puts you over 25k. I would certainly be mindful of exceeding that threshold. It is even totally within their right to request documentation if you do not exceed 25k. In which case you can simply provide it or not. If you do not want to provide documentation you would likely be denied.
And... Sure, assuming 1.5X and 3X both fall below the 25k threshold, maybe if you had only asked for 1.5X maybe they wouldn't have asked for documentation. At this point, however, you are engaging in rank speculation not supported by the majority of available evidence. You can beat yourself to death with what ifs and I assume that's what's happening here or you can request the 3X and see what happens.
There's really nothing to be afraid of. It's not a scary experiment. There is plenty enough reference data available to predict likely outcomes.
If you have no desire to maximize your available credit then there's nothing wrong with that at all, but if you have decided to request the CLI, there's no good reason that I can think of not to request the full amount Having the limit available doesn't mean you have to use it.
