No increase in 8 years! AMEX

[Eddie24CO]

Since 2014 I have had an AMEX everyday card with a $500 limit. Since then I have had opened A gold card with Amex for the last 3 years as well as other cards with major companies. In 2021 I obtained a mortgage no issues and of course car loans and other credit between 2014-2021. 

amex to this day refuses to raise the credit line on this card. I have talked to numerous people at Amex and they all say your account needs to be reviewed. The denial always says "insufficient credit" which makes no sense considering I have been a member for years and use and pay off the balances monthly as well as on all of my other major cards that have zero balances and limits in the tens of thousands. I have never had any late payments or collections or anything negative. Score is well over 720 on all 3. 

any ideas or suggestions on what to do? Can I write to someone at Amex? Do I close this account? 

[coldfusion]

If it were me and I did in fact put meaningful spend each month on the card (i.e. not just a single monthly $1.06 iced coffee from Cumberland Farms or a 50 cent Amazon reload) and routinely PIF I personally would just close the card and move on.

[collics]

I'd close it but that's just me. 

[OmarGB9]

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@coldfusion wrote:

If it were me and I did in fact put meaningful spend each month on the card (i.e. not just a single monthly $1.06 iced coffee from Cumberland Farms or a 50 cent Amazon reload) and routinely PIF I personally would just close the card and move on.

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Agreed. I don't know if Amex bucketing accounts is a thing, but it kinda sounds like your account may indeed be "bucketed" similar to Cap One's starter cards.

I'd close it and/or apply for a new revolving credit card. 

[AverageJoesCredit]

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@Eddie24CO wrote:

Since 2014 I have had an AMEX everyday card with a $500 limit. Since then I have had opened A gold card with Amex for the last 3 years as well as other cards with major companies. In 2021 I obtained a mortgage no issues and of course car loans and other credit between 2014-2021. 

amex to this day refuses to raise the credit line on this card. I have talked to numerous people at Amex and they all say your account needs to be reviewed. The denial always says "insufficient credit" which makes no sense considering I have been a member for years and use and pay off the balances monthly as well as on all of my other major cards that have zero balances and limits in the tens of thousands. I have never had any late payments or collections or anything negative. Score is well over 720 on all 3. 

any ideas or suggestions on what to do? Can I write to someone at Amex? Do I close this account? 

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If you have 0 balances on your cards (even if you dont let a balance report and get penalized on Fico scoring), no lates, etc, why is your score still only 720? Something here doesn't add up and maybe that's why Amex isn't budging on the cli?

[Eddie24CO]

My scores at 720 as of now bc I just purchased a home in February and it reported in April. But this has been ongoing for 8 years with AMEX

[7774x]

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@OmarGB9 wrote:

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@coldfusion wrote:

If it were me and I did in fact put meaningful spend each month on the card (i.e. not just a single monthly $1.06 iced coffee from Cumberland Farms or a 50 cent Amazon reload) and routinely PIF I personally would just close the card and move on.

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Agreed. I don't know if Amex bucketing accounts is a thing, but it kinda sounds like your account may indeed be "bucketed" similar to Cap One's starter cards.

I'd close it and/or apply for a new revolving credit card. 

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Move on.. Amex has tagged your card for negative info, event.. in the past 

[xenon3030]

A localized CC might be somehow bucketed or you may riased some unintentional or intentional flags and you may somehow got bucketed (e.g. glitch in algo). Fico8~720 is marginal, if having 8+ years of credit profile and it might raised some financial risk concerns. It is good to keep Fico8~750-800 to expect more. Due to bucketing, it is less likely to get CLI.

I would say improve Fico8 and later on, try opening a new CC with them to see whether you may get a high CL. If that works, you may allocate some CL from your new card to the old card.

I am not a fan of closing low limit cards. If you PIF, the CL does not matter.

[NRB525]

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@Eddie24CO wrote:

Since 2014 I have had an AMEX everyday card with a $500 limit. Since then I have had opened A gold card with Amex for the last 3 years as well as other cards with major companies. In 2021 I obtained a mortgage no issues and of course car loans and other credit between 2014-2021. 

amex to this day refuses to raise the credit line on this card. I have talked to numerous people at Amex and they all say your account needs to be reviewed. The denial always says "insufficient credit" which makes no sense considering I have been a member for years and use and pay off the balances monthly as well as on all of my other major cards that have zero balances and limits in the tens of thousands. I have never had any late payments or collections or anything negative. Score is well over 720 on all 3. 

any ideas or suggestions on what to do? Can I write to someone at Amex? Do I close this account? 

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How much are you using the Gold card? 

[AverageJoesCredit]

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@xenon3030 wrote:

A localized CC might be somehow bucketed or you may riased some unintentional or intentional flags and you may somehow got bucketed (e.g. glitch in algo). Fico8~720 is marginal, if having 8+ years of credit profile and it might raised some financial risk concerns. It is good to keep Fico8~750-800 to expect more. Due to bucketing, it is less likely to get CLI.

I would say improve Fico8 and later on, try opening a new CC with them to see whether you may get a high CL. If that works, you may allocate some CL from your new card to the old card.

I am not a fan of closing low limit cards. If you PIF, the CL does not matter.

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Actually it's the apr that shouldn't matter but for many the CL does matter. No much you can buy on a $500  cc even if you are a LIEr like me.