Higher than 3x on first CLI possible?

[PointLager]

Hi everyone

Wanted to get your feedback on asking for higher than 3x CLI after my 60d mark.

My background:

8m of US Credit history.
Oldest cards $500 and $500 limits, one which is secured.

At 6 months of credit history approved for Amex PRG and Delta gold ($2k limit)

During first 1-2 billing cycles:

PRG: charged $5k on the card. They had me make a payment at just over initial $3k balance and since then I've paid 1-2k at a time. Initially check spending approval was maxed at $3.5k. Now I tried it and $5k would be approved (that's on top of current balance of $1k)


Delta: zero charges and balance in first statement cycle.
$500 charged during second cycle. PIF before my 2nd statement will cut.

I would like to ask for $9-10k limit on the delta card. $6k is still too small relative to how much I charge. Has there been any luck with approving such limits? Can I just request it and they counter with $6k or don't risk it and ask for $6k?

Also, would they only be looking at my delta card spend, ($0, $500 over my first and second cycle) which was small, or would they see my PRG spend also, which would help justify the request for higher limit?

Thanks!

[PointLager]

I should say that my EX FICO pulled by Amex at time of approval was 719.

My current EX FAKO is 730. CK FAKO 699. 4 HPs on each EX and TU. HPs were done in batches of 2, about 4 months apart.

[Burned2manybridgesB4]

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@PointLager wrote:
Hi everyone

Wanted to get your feedback on asking for higher than 3x CLI after my 60d mark.

My background:

8m of US Credit history.
Oldest cards $500 and $500 limits, one which is secured.

At 6 months of credit history approved for Amex PRG and Delta gold ($2k limit)

During first 1-2 billing cycles:

PRG: charged $5k on the card. They had me make a payment at just over initial $3k balance and since then I've paid 1-2k at a time. Initially check spending approval was maxed at $3.5k. Now I tried it and $5k would be approved (that's on top of current balance of $1k)


Delta: zero charges and balance in first statement cycle.
$500 charged during second cycle. PIF before my 2nd statement will cut.

I would like to ask for $9-10k limit on the delta card. $6k is still too small relative to how much I charge. Has there been any luck with approving such limits? Can I just request it and they counter with $6k or don't risk it and ask for $6k?

Also, would they only be looking at my delta card spend, ($0, $500 over my first and second cycle) which was small, or would they see my PRG spend also, which would help justify the request for higher limit?

Thanks!

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IMO using the installment option on a charge card affects your internal risk with them. Longer it takes, lower it goes.
If you're seeking beyond the 3x on the revolver, be prepared to prove you can handle it, either by tax statement, or proof of assets/finances/income.

[PointLager]

Thanks @Burned2manybridgesB4

I don't installment option on my PRG charged card. My multiple payments to it are all before the next statement so I Can PIF.


If asking for more than 3x CLI would trigger a FR I would then keep it at $6k requested limit.

That should help bring my avg limit to $2k since I have those $500 cards.

For now i am putting any larger spend on my charge card since it's statement balance doesn't affect my utilization ratio

[Burned2manybridgesB4]

Why the rush? You can do the 61, then another (confuse the two..either 90/180 day) behind it. By that time, I'm sure you'll be adding other cards to the wallet too.

[wHiTeSoL]

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@PointLager wrote:
@Anonymous @Burned2manybridgesB4

I don't installment option on my PRG charged card. My multiple payments to it are all before the next statement so I Can PIF.


If asking for more than 3x CLI would trigger a FR I would then keep it at $6k requested limit.

That should help bring my avg limit to $2k since I have those $500 cards.

For now i am putting any larger spend on my charge card since it's statement balance doesn't affect my utilization ratio

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Like the above poster said it will certianly require justification and need to be manually reviewed which will involve proof of income.. The 3x sticky is full of great information and it's well documented that the automated system will not let you get over 3x.

There still is also confusion around american express FRs. You dont get an FR from requesting a CLI, you will however be requested to go through their income verification if you are requesting more than 3x. Main difference is to refuse a FR is to have your accounts shut down, to refuse to verify income is to have your CLI shot down.

There has been success on the board from others going from 5 > 25k + but it required a long stable history and income to warrant the request. 

[PointLager]

I think it's 90d wait if you're denied CLI and 180d if you're approved and asking for another one.

Main reason I would like a higher limit is because in June I want to app for a MC world or visa signsture card and since those usually require $5k limits history having that would be good.

Plus, in June I hit 12m of US credit history. And shortly after that I want to add the SPG card. I figure if the SPG limit is low then I can transfer my delta limit at that point. (I don't plan on keeping the delta at all. It was just my foot in the Amex revolvers. BCP and SPG are what I want to have ultimately). Plus a no-fee premium MC/Visa (no fx fee) for traveling to non-Amex friendly countries

[Burned2manybridgesB4]

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@PointLager wrote:
I think it's 90d wait if you're denied CLI and 180d if you're approved and asking for another one.

Main reason I would like a higher limit is because in June I want to app for a MC world or visa signsture card and since those usually require $5k limits history having that would be good.

Plus, in June I hit 12m of US credit history. And shortly after that I want to add the SPG card. I figure if the SPG limit is low then I can transfer my delta limit at that point. (I don't plan on keeping the delta at all. It was just my foot in the Amex revolvers. BCP and SPG are what I want to have ultimately). Plus a no-fee premium MC/Visa (no fx fee) for traveling to non-Amex friendly countries

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Trying to go from 500 to 5k in that short amount of time would most assuredly set off any/every lender's A/R computer. Some things take time.

[PointLager]

Thanks a lot for chiming in, @wHiTeSoL.

I will stick to 3x only and in the mean time if I can use my PRG as primary spend card.

[Creditaddict]

No, The system will flat out deny you... stick to the 3x as Amex has been very clear and vocal about this policy (one of the better banks about that!)