Apprehensive to ask for Amex CLI

[Middleswarth]

My Amex is 10K.  At day 61 I will be asking for 30K.  If I get it great.  If I don't, who cares?  Not I.  

The point is simply that Amex sets up the rules and it is up to you weather you want to take advantage of them.  If you think you cannot handle it then perhaps you should avoid credit completely.

[chrisw1968uk]

I think that my concerns may have been well-founded.

I applied for a 1x CLI to $16,000 from $8,000 - I got a 7-10 with no counter. My credit is fine - NEVER any lates or missed payments, TU Fico of 744 as of last week. I used the site to test if a PRG purchase would be approved, I put in $10k and it said it would be approved. These limits exceed 40% of my salary.

Current BCE balance of $800 - 10% Util, still enjoying 0% intro rate for another 3 months - I will make sure it's cleared off by then.

I spoke online to a CSR last night and asked would I improve my chances if i closed my PRG (which i very rarely use) - she thought it would be beneficial.

I sent a msg to them offering this - let's see what they say - if they do then fine, if they don't then no biggie  

[Bman70]

Aw so there's the 7-10 without counter option. That doesn't mean you're refused - many have later logged in to find an approval. Stop sending them emails and just sit it out. But this is why I'm not applying for my 61-day.. Just don't want to sit out a 7-10 day decision lol. 

[Middleswarth]

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@chrisw1968uk wrote:

I think that my concerns may have been well-founded.

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It is still not clear to me what the conerns are.  Were you afraid of denial? Or the possible 7-10 day wait?  Or even a possible HP (not really the end of the world, IMO)?

I believe in this case there is nothing to lose unless you fear rejection.  Worst case is you do not get the increase and you continue on for another 90 days or so at the current level.  

Then ask again. 

[Creditaddict]

I don't see how that makes it founded results... It's always been that way... My partner wasn't recently declined for no other reason but to many Inq's for other stuff not related to Amex... Not sure what that has to do with rather you request $2k or $6k or whatever your 3x number is... It's not going to change the result!

[TeeGee]

For what it's worth, I applied on the 62nd day for 3X CLI from $2K and asked for $6K and got instant approval.  It's not a hard pull, just based on your account (they don't like balances!) and they do watch your credit activity like a hawk.  

I'm with the "nothing ventured, nothing gained" crowd.  I ventured alot this year and solved a bundle of problems and now have decent scores.  

[chrisw1968uk]

I was denied with no counter, they said my relationship with them hasn't been long enough. I got a 61 day CLI and my account is just at 1 year old now - scores in the mid 7's and no baddies at all - maybe they are tightening their belts?? i can live with it, my existing 8k is fine for me