How Soon for Fidelity Amex CLI??

[trant3]

I was approved last week for the card with only $1k SL, tried to recon SL but was denied. I have cards that are much higher. How soon can I go for CLI and is it a HP? Thanks

[jamesdwi]

the goodnews you can apply for a CLI imediately but it will cost you a second HP. 

The bad news, a 1k approval doesn't bode well, since they are basicly saying we are willing to give you a chance, but we are only willing to give you the lowest limit possible. So it may be better to wait 6 months before trying.  

From what I have seen they offer frequent 12+ month 0% BT deals so waiting won't mean losing out on BT offers. 

[msbia]

+1 what James said. I was approved for Fidelity Amex last month with the same SL; because I had a retirement account with Fidelity that I didn't know about, I immediately called in to request a higher limit. I HAD to take another HP for it, and I asked for $10k and received it. You said you reconned the SL and you were denied? Did they HP again or no, and what were the denial reasons? If they did another hp, take James' advice and wait out 6 months. Fidelity seems to be generous with CLI as long as you're ok with hp. Good luck! 

[kdm31091]

You can ask, but you'll take another HP and honestly, a 1k approval shows they may very well not be willing to give you much more.

Patience is the only answer, IMO. Give it 6 months of responsible usage and then try. You're much more likely to be succesful, IMO. Everyone always wants an instant fix and to have exactly the limit they want. Sometimes it's not possible.

[Anonymous]

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@jamesdwi wrote:

the goodnews you can apply for a CLI imediately but it will cost you a second HP. 

The bad news, a 1k approval doesn't bode well, since they are basicly saying we are willing to give you a chance, but we are only willing to give you the lowest limit possible. So it may be better to wait 6 months before trying.  

From what I have seen they offer frequent 12+ month 0% BT deals so waiting won't mean losing out on BT offers. 

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This^^^^^^....

[takeshi74]

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@trant3 wrote:

I was approved last week for the card with only $1k SL, tried to recon SL but was denied. I have cards that are much higher. How soon can I go for CLI and is it a HP? Thanks

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The low starting limit isn't a good sign.  Don't rely solely on time.  What was the denial reason(s)?  Have you addressed them?

With any creditor it's your credit and income that determine your starting limit and increases.  You can't just assume that because you have much higher cards that another creditor is going to simply match limits.  I have high limit cards but recent activity gave concern with my latest credit applications and those cards were issued with limits that were low for me.

[kdm31091]

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@takeshi74 wrote:

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@trant3 wrote:

I was approved last week for the card with only $1k SL, tried to recon SL but was denied. I have cards that are much higher. How soon can I go for CLI and is it a HP? Thanks

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The low starting limit isn't a good sign.  Don't rely solely on time.  What was the denial reason(s)?  Have you addressed them?

With any creditor it's your credit and income that determine your starting limit and increases.  You can't just assume that because you have much higher cards that another creditor is going to simply match limits.  I have high limit cards but recent activity gave concern with my latest credit applications and those cards were issued with limits that were low for me.

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You raise a good point. Everyone always wants to say "I have other high limits", but the bottom line is that if your recent activity is "risky' (which can simply be a lot of inqs or new accounts etc, nothing actually necessarily risky but percieved risky), you're not going to have the same limits with new apps. Everything with credit takes time and patience, which some people seem to forget/ignore/or think they can make a phone call and get fixed. (not you, takeshi!)