CLIs: Post-Credit Crunch

[Anonymous]

Hi All-

When I first joined the forum I remember all the post of people getting 5K-20K in CLIs. Obviously, things have changed significantly since then. And some things haven't (e.g. Chase still requires a hard, WaMu doesn't take requests, and Cap1 usually offers limited/smaller CLIs).

However, what has been your experiences with BoA, Amex, USAA, and others as more of recent, when requesting CLIs? Six months ago it seemed everyone was getting almost whatever the requested, when they requested it. Since then BoA has been asking everyone to wait 3 months between requests, USAA has removed the luv button from their site and asks everyone to wait 6 months between requests, and finally, Amex now requires 6 month waits and the button online isn't as instant (plus no mow CLIs at activation it seems for some). What about the others...any changes in behavior?

Also, with what HHIs and scores are everyone asking for CLIs? And how much are you asking and getting? Back in the day it was easy to go from 5 to 15K with Amex or even 5 to 25K w/ USAA? Still possible?

[Anonymous]

In regards to Amex, generally it's still an instant if approved.  If denied, you'll get a 7-10 day message.

Amex has become more conservative in their CLI rules in the last few months.  When I first started reading this forum, you could be approved for $1K, get a CLI to $5K on activation, and then get another CLI every 30 days.

Then they changed it to no CLI at activation, 30-day wait on new accounts, and every six months after that.

To my knowledge their policy is now a 60-day wait on new accounts and every six months after that.

Their CLIs are still generous, though, when they are approved.

Message Edited by cheddar on 04-02-2008 11:54 PM

[Anonymous]

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cheddar wrote:

In regards to Amex, generally it's still an instant if approved.  If denied, you'll get a 7-10 day message.

Amex has become more conservative in their CLI rules in the last few months.  When I first started reading this forum, you could be approved for $1K, get a CLI to $5K on activation, and then get another CLI every 30 days.

Then they changed it to no CLI at activation, 30-day wait on new accounts, and every six months after that.

To my knowledge their policy is now a 60-day wait on new accounts and every six months after that.

Their CLIs are still generous, though, when they are approved.

Message Edited by cheddar on 04-02-2008 11:54 PM

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Grumble.  At least I'm not going backwards with them!

[Anonymous]

Wow--60 days for Amex now after activation? Cheddar - how do you codify generous?

[Anonymous]

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Pj1369 wrote:
Wow--60 days for Amex now after activation? Cheddar - how do you codify generous?

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I think they've been reading our little forum and getting ideas because when they used to let you get a CLI at activation, everybody here was saying, "Be careful with them.  Best to wait 30 days or so."  Then they changed their rule to 30 days on new accounts, and everyone here started saying, "Be careful with them.  Maybe wait a couple of months."  Now the rule is 60 days!!!

I call the examples you gave in your original post generous: $5K to $15K.  Or, as I mentioned, $1K to $5K.  I still see approvals for CLIs like that, but I also advise to treat them with kid gloves.  When I got my CLI with them, I waited twice the required waiting period and only requested $1K to $2K.  That low CL is still tough to deal with, requiring me to PIF about 3 times per month, but I do so willingly, knowing that I'm building a history with them in anticipation of better things in the future.

I get the impression that for most of their cardholders, they seem to either love you or they just tolerate you.  If they love you, you can get almost anything you want, within reason.  If not, they can cause you all sorts of problems.  There doesn't seem to be much rhyme or reason with regard to who they love and who they just tolerate.  Being an eternal PIFfer always helps, though.

[Anonymous]

uhhhh --- conspiracy theory. But, hey it could happen. I wonder what other CCCs might be checking on our little ol' forum. And yes, I definitly agree, Amex's risk modeling system seems almost randomized -- I wish I could learn more about it.

Anyone else apply for CLIs recently? What were your experiences, scores, and asks?

[MidnightVoice]

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Pj1369 wrote:

uhhhh --- conspiracy theory. But, hey it could happen. I wonder what other CCCs might be checking on our little ol' forum.

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A CSR from Chase told me to come here, as I would learn more than I could any other way 

I told her I had been a member since the first month

[Anonymous]

We'll see how generous Amex is here shortly. On Saturday I am eligible for a CLI on my Blue account as it will have been 60 days. They started me at 8.9k, and I am thinking I am going to ask for CLI to 15k to match my highest limit.

[MidnightVoice]

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FretlessMayhem wrote:
We'll see how generous Amex is here shortly. On Saturday I am eligible for a CLI on my Blue account as it will have been 60 days. They started me at 8.9k, and I am thinking I am going to ask for CLI to 15k to match my highest limit.

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I will be very interested.  They started me at $7.5K and I have had the Blue (applied for it, not a product change) for 3 months.  My EX has gone up over 50 points since then.  But I am waiting for 6 months before I hit the luv button!

[Anonymous]

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FretlessMayhem wrote:
We'll see how generous Amex is here shortly. On Saturday I am eligible for a CLI on my Blue account as it will have been 60 days. They started me at 8.9k, and I am thinking I am going to ask for CLI to 15k to match my highest limit.

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Good luck! I'm coming up to my six months in two weeks. I'm currently at 11K and want to ask for 18K or 20k. But, I can't decide. I think 20K might be risky....However, I PIF each month and I charge anywhere from 2-6K a month. Hmmm.... I'm also waiting to see if I should do it on the 16th (a day after my 6 month aniv) or wait until the end of the month when my score will most likely go up due to recent large payments. My score is currently in 740s on my EX.