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So considering I kind of silently used this entire board when apping for my first Amex (and Amex CLI) I decided I'd post this in case other people had similar situations and wanted some kind of reference for their own use.
As far as my general credit history goes, I'm 24 and have pretty good credit history for someone my age. My last FICO score was in the 700-715 range, with 1 open credit line, an 8 month old Kohls card with an $800 limit that is always PIF. My previous lines included my starter card at age 16 with Wachovia (now Wells Fargo) with an $800 limit, and then a Discount tire card with a $1000 limit (that was eventually closed for lack of use.) I've been working since age 16 in the healthcare industry and currently make $34000. I paid off my first car early in March (5 yrs/21,000 financed) and currently have about 25k in student loans which I pay on every month.
I apped for the BCE in July with a 32k income and was approved for $5500 credit limit. In the past four months I've used it extensively for the rewards, and have charged about $4500, making large payments to keep the utilization low (per suggestions I saw on this board about Amex hating balances) though carrying a balance every month of around 500-$1000. I will note the months I posted higher balances I also had made higher payments of 500-1000 to show that even though I was spending I had the acutal funds to support it. My mom always told me if you don't have the money for it now, don't charge it (unless you absolutely MUST.)
Anyways...I've been recently receiving several bulk offers in the mail for credit cards, so I figured Amex had probably pulled me recently, and last month my balance posted at about 350/$5500. I recently received a raise to 34k income, so I decided to request an increase to 10k to see what would happen. I figured I wasn't planning on apping for anything else at the moment, and considering I'd done what they've asked-spent regularly and still made significant payments, if they were to deny me for carrying a balance then no love lost. Imagine my surprise when I was instantly approved! First credit card with 10k limit...and an Amex, no less. Pretty much made my Friday.
So this post is a little bit of braggart and a little bit of wanting to say thanks to all the gurus on this board for the credit advice that really helped me navigate my Amex journey. And I also wanted to put this out there for people who are worried about requesting a CLI without an exorbitant income or monthly PIF. I know it is dependent on several factors, but it is possible to get that increase with Amex, it seems, if you spend and pay within reason. I get that they prefer PIF, but if you're giving me 0% for 18 months you bet your rear I'm gonna utilize it.
Nice one brother! I got all my knowelege from this board to. Yesterday I went on a spree (im 18 by the way) and got a AMEX blue 2k Barclaycard $1.3k and a Discover it Student $500 this on top of my other cards. myFico gurus are the reason Im over 700 also I dont have student loans lol that helps. Enjoy that great increase brother, and stay app free so you can get it to $20,000 next year
Congrats
Congrats! Welcome to the forum. Thanks for sharing.
Congrats!! I love my BCE!!
Welcome to the forums! Thanks for sharing your story. We love success stories here, as many of us have been through the building journey and appreciate all of the hard work that goes into it. It's also an inspiration for those who are still working on their own building efforts. Congratulations on your success, and keep up the good work!
Congrats! I agree with tinny. Great job of managing your credit!