Credit Card Help - Amex Gold Pre-set Limit

[CreditInspired]

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@micvite wrote:

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@EAJuggalo wrote:

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@micvite wrote:

@Brian_Earl_Spilner @Anonymous sorry I couldn't figure out how to edit my post, but I wanted to mention I have PC offers for both amex gold to platinum as well as BCED to BC proffered. Also did some preapprovals and I'm pre-approved for another discover it and discover miles. Not really sure what the next steps are for me, I'd prefer to grow what I currently have rather than open new, but seems no one wants to give me a CLI (probably soft pulls haven't updated or they're just wary since I've just paid off all my balances). I'm thinking next steps would be pick a card, put all my spend on that and basically spend 3-4x my SL every month and PIF for 3-6 months and AZEO? But please advise!

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The next step is to do nothing for a year, pay off every card every month and let everything age.  Then you should be fine.  AMEX isn't going to give you a CLI until they are satisfied that you're good enough to have your hard limit turned into a soft limit.  You admitted that you gambled with money you owed to other people, glad it paid off for you, but those whose money you gambled with probably aren't too happy.

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I've given up on amex at this point, I'm gonna put a few bucks on it here and there to keep the cards open and if nothing changes by the time my renewal is up next July just going to close the card. Even Cap1 gave me a decent CLI (I'm sure you guys know it's like pulling teeth) so if amex doesn't want me as a customer so be it, I'm tired of making 20 payments a month to cover my dining expenses. I've put 5-20k a month on that card for the last year almost with no results and honestly not that I can't prepay I can't even use the card for half my dining purchases anyway (bill is usually 1500-2500) so if I get a bill over 2k I'm SOL. For now I'll throw that spending elsewhere like my discover and my citi and let them grow, I wonder what my next citi CLI will be considering I've put 8k a month on it for the last 6 months since my previous increase to 4k

I'm not sure what you mean by gambled exactly? I never gamble.

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OP said, That was in order to make some investments which ultimately paid off and I'm reaping 20-30k a month in passive income

I think what EAJuggo meant, was what if the investment had not paid off. Not gambling per se, but you took a risk. 

[micvite]

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@CreditInspired wrote:

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@micvite wrote:

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@EAJuggalo wrote:

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@micvite wrote:

@Brian_Earl_Spilner @Anonymous sorry I couldn't figure out how to edit my post, but I wanted to mention I have PC offers for both amex gold to platinum as well as BCED to BC proffered. Also did some preapprovals and I'm pre-approved for another discover it and discover miles. Not really sure what the next steps are for me, I'd prefer to grow what I currently have rather than open new, but seems no one wants to give me a CLI (probably soft pulls haven't updated or they're just wary since I've just paid off all my balances). I'm thinking next steps would be pick a card, put all my spend on that and basically spend 3-4x my SL every month and PIF for 3-6 months and AZEO? But please advise!

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The next step is to do nothing for a year, pay off every card every month and let everything age.  Then you should be fine.  AMEX isn't going to give you a CLI until they are satisfied that you're good enough to have your hard limit turned into a soft limit.  You admitted that you gambled with money you owed to other people, glad it paid off for you, but those whose money you gambled with probably aren't too happy.

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I've given up on amex at this point, I'm gonna put a few bucks on it here and there to keep the cards open and if nothing changes by the time my renewal is up next July just going to close the card. Even Cap1 gave me a decent CLI (I'm sure you guys know it's like pulling teeth) so if amex doesn't want me as a customer so be it, I'm tired of making 20 payments a month to cover my dining expenses. I've put 5-20k a month on that card for the last year almost with no results and honestly not that I can't prepay I can't even use the card for half my dining purchases anyway (bill is usually 1500-2500) so if I get a bill over 2k I'm SOL. For now I'll throw that spending elsewhere like my discover and my citi and let them grow, I wonder what my next citi CLI will be considering I've put 8k a month on it for the last 6 months since my previous increase to 4k

I'm not sure what you mean by gambled exactly? I never gamble.

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OP said, That was in order to make some investments which ultimately paid off and I'm reaping 20-30k a month in passive income

I think what EAJuggo meant, was what if the investment had not paid off. Not gambling per se, but you took a risk. 

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Ahhh even if they hadn't paid off I'd have at least gotten my initial investment back and just be down couple hundred dollars in interest haha. I only take extremely calculated risks and never a risk that I will ever have a chance of loosing money on, it's just too painful for me... which is why those investments didn't turn into say 100k a month🤣🤣🤣, less risk, less reward.

[NRB525]

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@micvite wrote:

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@EAJuggalo wrote:

---

@micvite wrote:

@Brian_Earl_Spilner @Anonymous sorry I couldn't figure out how to edit my post, but I wanted to mention I have PC offers for both amex gold to platinum as well as BCED to BC proffered. Also did some preapprovals and I'm pre-approved for another discover it and discover miles. Not really sure what the next steps are for me, I'd prefer to grow what I currently have rather than open new, but seems no one wants to give me a CLI (probably soft pulls haven't updated or they're just wary since I've just paid off all my balances). I'm thinking next steps would be pick a card, put all my spend on that and basically spend 3-4x my SL every month and PIF for 3-6 months and AZEO? But please advise!

---

The next step is to do nothing for a year, pay off every card every month and let everything age.  Then you should be fine.  AMEX isn't going to give you a CLI until they are satisfied that you're good enough to have your hard limit turned into a soft limit.  You admitted that you gambled with money you owed to other people, glad it paid off for you, but those whose money you gambled with probably aren't too happy.

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I've given up on amex at this point, I'm gonna put a few bucks on it here and there to keep the cards open and if nothing changes by the time my renewal is up next July just going to close the card. Even Cap1 gave me a decent CLI (I'm sure you guys know it's like pulling teeth) so if amex doesn't want me as a customer so be it, I'm tired of making 20 payments a month to cover my dining expenses. I've put 5-20k a month on that card for the last year almost with no results and honestly not that I can't prepay I can't even use the card for half my dining purchases anyway (bill is usually 1500-2500) so if I get a bill over 2k I'm SOL. For now I'll throw that spending elsewhere like my discover and my citi and let them grow, I wonder what my next citi CLI will be considering I've put 8k a month on it for the last 6 months since my previous increase to 4k

I'm not sure what you mean by gambled exactly? I never gamble.

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I thought the advice on an earlier thread was to slow down with AMEX to not try to cycle a dozen payments every month? The reason being it is frightening for a bank to see that much unintended cash flow they can't explain. Just use the Gold for one of your dinners then set it aside and use something else or debit card for the other meals that month. Pay off the Gold after the statement prints, then get it out for another dinner that next month.

But slow down. Give the algorithm time to relax, same advice as earlier.  Then once NPSL is noted, do not assume you can charge $30k in a month. Slowly increase the monthly total you put on the Gold, over a slow set of months.  $5k for each of three months, then try $7.5k for three months. $10k for three months. 

Debit is your friend for the time being. 

[micvite]

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@NRB525 wrote:

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@micvite wrote:

---

@EAJuggalo wrote:

---

@micvite wrote:

@Brian_Earl_Spilner @Anonymous sorry I couldn't figure out how to edit my post, but I wanted to mention I have PC offers for both amex gold to platinum as well as BCED to BC proffered. Also did some preapprovals and I'm pre-approved for another discover it and discover miles. Not really sure what the next steps are for me, I'd prefer to grow what I currently have rather than open new, but seems no one wants to give me a CLI (probably soft pulls haven't updated or they're just wary since I've just paid off all my balances). I'm thinking next steps would be pick a card, put all my spend on that and basically spend 3-4x my SL every month and PIF for 3-6 months and AZEO? But please advise!

---

The next step is to do nothing for a year, pay off every card every month and let everything age.  Then you should be fine.  AMEX isn't going to give you a CLI until they are satisfied that you're good enough to have your hard limit turned into a soft limit.  You admitted that you gambled with money you owed to other people, glad it paid off for you, but those whose money you gambled with probably aren't too happy.

---

I've given up on amex at this point, I'm gonna put a few bucks on it here and there to keep the cards open and if nothing changes by the time my renewal is up next July just going to close the card. Even Cap1 gave me a decent CLI (I'm sure you guys know it's like pulling teeth) so if amex doesn't want me as a customer so be it, I'm tired of making 20 payments a month to cover my dining expenses. I've put 5-20k a month on that card for the last year almost with no results and honestly not that I can't prepay I can't even use the card for half my dining purchases anyway (bill is usually 1500-2500) so if I get a bill over 2k I'm SOL. For now I'll throw that spending elsewhere like my discover and my citi and let them grow, I wonder what my next citi CLI will be considering I've put 8k a month on it for the last 6 months since my previous increase to 4k

I'm not sure what you mean by gambled exactly? I never gamble.

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I thought the advice on an earlier thread was to slow down with AMEX to not try to cycle a dozen payments every month? The reason being it is frightening for a bank to see that much unintended cash flow they can't explain. Just use the Gold for one of your dinners then set it aside and use something else or debit card for the other meals that month. Pay off the Gold after the statement prints, then get it out for another dinner that next month.

But slow down. Give the algorithm time to relax, same advice as earlier.  Then once NPSL is noted, do not assume you can charge $30k in a month. Slowly increase the monthly total you put on the Gold, over a slow set of months.  $5k for each of three months, then try $7.5k for three months. $10k for three months. 

Debit is your friend for the time being. 

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Yup that's what I've started doing and will continue to do. I guess I'm just struggling to understand why it's frightening to them that I spend money and pay it off lol...  been using my DC card cap1 and disco and they seem more than happy to take my money and give me CLIs lol. 

[micvite]

My gold card today after my statement cut has finally gone back to NPSL!!! Took a bit longer than I would have liked or expected, but finally done. Current scores are 747 ex, 718 tu, 749 EQ. My previous limit was 2k, just try to see if they'd approve me for 4k with the npsl and they said I was approved so I guess that's settled!

Appreciate all the advice and I guess it just was a matter of waiting that little bit longer... now I can get some bonus when my card is up for renewal and start growing my BCED (lowest limit, it's at 1k)

[cashorcharge]

That's terrific!  Congratulations on your AMEX approval!! 🎉🥂👏🏻

[Anonymous]

lets go!! congrats!

[Rebuild2019]

Congratulations 🎉🎈🍾 on your approval.

[M_Smart007]

"Who let the dogs out"  ..Congrats!!

[greatscott85]

Congratulations!

@M_Smart007My DW introduced my 6-year-old to that song, why hast thou forsaken me?! Haha