CLI question (regarding Amazon and mainly AMEX)

Anonymous · ‎07-28-2015

My credit had been doing great until a few weeks ago when I faced an emergency. In 2 weeks, I went from around 2% utilization to over 35% (once my new balances begin to report). I'm paying down the balance on each card as fast as I can but it's going to take a while.

My scores have already begun taking a hit but are all still above 700 (checked earlier). I'm a couple weeks away from my 4th statement from Amazon which was to be my cue to request a CLI. However, I'm worried that my scores will continue to drop by then. I was really hoping that a couple of CLIs in conjunction with large payments would help my utilization and soften the hits my scores have been talking. My payment history is perfect right now and will continue to be perfect. My issue right now is my utilization. Should I expect a definite denial regarding my CLI request? Is it even worth an attempt? Right now, any cushion would be helpful while I pay these balances down.

And more importantly, I'll be reaching my 180th day since my last AMEX CLI in about 2 months. I currently have a balance of $4k on a $6k limit due to my emergency. I'll be paying off $2k of the balance before this current statement closes and probably another $1k by the end of the next statement. I'm not sure that I'll be able to pay off the last $1k before my 180th day. I heard AMEX doesn't care for carrying a balance when you request a CLI. If that's the case, is my second 3x CLI potentially doomed?

Anonymous · ‎07-28-2015

Some CLI with banks are from your score and use outside with other accts, and some could be tied directly with your relationship with them. This sounds like something to go into chat feature and try on the Amazon one. Im day 171 with my AMEX ED and i owe them 600 bucks. I took advantage of the 2x Homedepot points in june/july and gotta catch up. I am sure as heck NOT asking for LUV on day 181.

takeshi74 · ‎07-28-2015

No telling for certain. All we can really say is that the CLI you're eligible for depends on your credit and income and that revolving utilization is a significant factor. If you want the best possible odds then get your utilization as low as possible and make sure that the rest of your profile is in the best possible shape.

@Anonymous wrote:
I heard AMEX doesn't care for carrying a balance when you request a CLI.

That's an oversimplified generalization that gets parroted a lot around here. Both my BCP and TE were carrying balances when they received their CLI's. Again, it's about one's credit and income as it is with any creditor. Balances play a part they're factored into utilization. There are many other factors at play that all matter.

Worst case is you get a denial, reason(s) and have 90 days to try again. It's not the end of the world.