How High to Push Amex Limit?

Anonymous · ‎04-11-2018

Question: I am eligible for an Amex CLI soon, but I don't know if I should do it.

I'm a college student looking to have several limits above $5k, mostly because that is the threshold for a lot of cards and banks to give out similar limits (I'm looking at you, Chase), and it works well with utilization. Right now, I only have one card above $5k, which is my Amex @ $12k. In a few days, it will be eligible for its next CLI, which I am contemplating raising it to $20k. My income is ~$40k.

My hesitation/question is this:

Right now, my total available credit is $24,000. Will having a higher limit on my Amex push other issuers to raise their limits, or will a new CCC I apply to see that I have a total available credit of $32,000 (80% of my income) and be less likely to approve me?

Also, I am also aware that if I have $20k with one Amex card, it will make it harder to get more Amex cards without reducing the limit. I just want to know if you guys would recomend a CLI, and to what $$$. I know several people on the forums that have total limits of multiple times their income across all banks, but I also know they may be outliers/have far higher income than me.

Anonymous · ‎04-11-2018

I am interested in hearing the theories and/or empirical evidence supporting views people have on this issue...

Anonymous · ‎04-11-2018

I have very limited experience with this but here is what I know. My income is 33K and I have a total credit limit across all cards and issuers of just over 59K. Recently I stopped getting larger starting limits on my cards. This may be because I've reached my total limit across all cards and banks that the banks feel comfortable with. Or it may be something else such as my relatively short and thin profile. I'm thinking it's a combination of both, but more of the first.

Anonymous · ‎04-11-2018

@Anonymous wrote:
I have very limited experience with this but here is what I know. My income is 33K and I have a total credit limit across all cards and issuers of just over 59K. Recently I stopped getting larger starting limits on my cards. This may be because I've reached my total limit across all cards and banks that the banks feel comfortable with. Or it may be something else such as my relatively short and thin profile. I'm thinking it's a combination of both, but more of the first.

I can definitely see your downward trend in CLs....in your case, I would also guess that a majority of the effect your seeing is due to frequency of applications, just as you said, but it is interesting. Income could very well also be influencing that as you near the 2x mark. Though it does instill confidence in me to raise the limit knowing that most of your limits have not throttled until well past the 1x mark of your income!

Viva-LV · ‎04-11-2018

@Anonymous wrote:
Question: I am eligible for an Amex CLI soon, but I don't know if I should do it.

@I'm a college student looking to have several limits above $5k, mostly because that is the threshold for a lot of cards and banks to give out similar limits (I'm looking at you, Chase), and it works well with utilization. Right now, I only have one card above $5k, which is my Amex @ $12k. In a few days, it will be eligible for its next CLI, which I am contemplating raising it to $20k. My income is ~$40k.

My hesitation/question is this:
Right now, my total available credit is $24,000. Will having a higher limit on my Amex push other issuers to raise their limits, or will a new CCC I apply to see that I have a total available credit of $32,000 (80% of my income) and be less likely to approve me?

Also, I am also aware that if I have $20k with one Amex card, it will make it harder to get more Amex cards without reducing the limit. I just want to know if you guys would recomend a CLI, and to what $$$. I know several people on the forums that have total limits of multiple times their income across all banks, but I also know they may be outliers/have far higher income than me.

Looking at your signature, your age, AAOA, and income will be factors for cli's. In my opinion, asking for 20k could be a little much (without knowing your AE history). They will always counter your request at worst. From my experience, Citi and BOA will not consider your other accounts, but will operate within their own guidelines. For me, Citi, BOA and USB are larger creditors than AE, although AE gets the majority of my monthly spend (points). Go for your cli with AE, and good luck. Don't forget Citi (six months for a sp cli) and your BOA card (three to four months, most likely hp cli). BOA smokes AE for cli's, hands down! Nice scores, by the way!

Gmood1 · ‎04-11-2018

Amex will if needed take limit from your one CC to open the other. I doubt you're at your max with them.
They don't seem adverse to other credit lines as long as you pay the bill.😁

Anonymous · ‎04-11-2018

@Viva-LV wrote:
@Anonymous wrote:
Question: I am eligible for an Amex CLI soon, but I don't know if I should do it.

@I'm a college student looking to have several limits above $5k, mostly because that is the threshold for a lot of cards and banks to give out similar limits (I'm looking at you, Chase), and it works well with utilization. Right now, I only have one card above $5k, which is my Amex @ $12k. In a few days, it will be eligible for its next CLI, which I am contemplating raising it to $20k. My income is ~$40k.

My hesitation/question is this:
Right now, my total available credit is $24,000. Will having a higher limit on my Amex push other issuers to raise their limits, or will a new CCC I apply to see that I have a total available credit of $32,000 (80% of my income) and be less likely to approve me?

Also, I am also aware that if I have $20k with one Amex card, it will make it harder to get more Amex cards without reducing the limit. I just want to know if you guys would recomend a CLI, and to what $$$. I know several people on the forums that have total limits of multiple times their income across all banks, but I also know they may be outliers/have far higher income than me.
Looking at your signature, your age, AAOA, and income will be factors for cli's. In my opinion, asking for 20k could be a little much (without knowing your AE history). They will always counter your request at worst. From my experience, Citi and BOA will not consider your other accounts, but will operate within their own guidelines. For me, Citi, BOA and USB are larger creditors than AE, although AE gets the majority of my monthly spend (points). Go for your cli with AE, and good luck. Don't forget Citi (six months for a sp cli) and your BOA card (three to four months, most likely hp cli). BOA smokes AE for cli's, hands down! Nice scores, by the way!

Yeah, I'm not actively seeking out $20k, but when I ask for SOME CLI this weekend, I was just wondering if that was a bad idea or not (in terms of, assuming they approve me, whether it would help get new cards or hurt me getting new cards). If they deny me for any CLI, I'm totally fine as well, I just wanna act in the best manner for my profile, hence this thread!

BronzeTrader · ‎04-12-2018

I'm not a fan to ask for CLI. If I were a college student, I'll be happy to keep a single good card that has adequate CL. My oldest is in college and we have the Uber card with $6,000 CL. This is far more than enough and we care less about utilization and AAOA. Other CCs received some auto CLI, but we do not care and do not use. Over time the CL will just build up by itself.

I do not think it is good to get a CC with high CLs for college kids. That is looking for trouble.

Anonymous · ‎04-12-2018

I guess it really depends on what you plan to do with all that credit. However, IMO you're in a very good place @ 20. With those scores and income. Barring anything from happening between now and graduation, you should be fine where you're at.

That said, pushing one card to a bigger place shouldn't hurt if you plan to be responible with that high CL. Also, being as you're only going for $20K, when Amex would likely give a $36K CL. Shows that you don't want too much credit. I think having this one card at a higher CL will help show responsiblity with higher limits, when it coms time for Chase etc. Credit is a very imortant factor in todays world, and if handled properly now. It will benefit you in your mid 20's as an Adult.

Be mindful, and Good luck!

Gregory1776 · ‎04-12-2018

@Anonymous wrote:
@I guess it really depends on what you plan to do with all that credit. However, IMO you're in a very good place @ 20. With those scores and income. Barring anything from happening between now and graduation, you should be fine where you're at.

That said, pushing one card to a bigger place shouldn't hurt if you plan to be responible with that high CL. Also, being as you're only going for $20K, when Amex would likely give a $36K CL. Shows that you don't want too much credit. I think having this one card at a higher CL will help show responsiblity with higher limits, when it coms time for Chase etc. Credit is a very imortant factor in todays world, and if handled properly now. It will benefit you in your mid 20's as an Adult.

Be mindful, and Good luck!

I doubt Amex would near match his income. But, yea, that’s the maximum they would increase it to if his income were higher.