People need to re-think Amex's 3x CLI policy

[CreditScholar]

After reading several posts about the topic, I feel inclined to comment on this.

There are so many people asking about how to get higher CLs, how to move out of toy limits, and how to get established. One of the most common answers/strategies is to get an Amex revolver and then ask for a 3x CLI after 61 days. In many other cases, you'll see an extra step added: Amex Zync for 6 months => Amex Revolver => 3x CLI after 61 days.

While this may be Amex's policy to allow a 3x CLI, it doesn't make it anywhere near a sure-thing. A 3x CLI may be granted but only if your spending habits and credit profile justify it. I can't begin to count the number of people who expect a 3x CLI and are disappointed when they don't get it, simply because they aren't spending enough through their card.

It's quite difficult as a lender (even Amex) to give someone with a 2 month old revolver account a 3x CLI, when the person requesting isn't making good use of the initial CL given to them in the first place. If you want to ask for a 2x-3x CLI, make sure you're using the card heavily enough to justify what you're asking for.

[Razeus]

I plan to CLI for 3x my limit in 61 days. I can't do what I need to do with the $1k they give me.  So that's the catch-22 isn't it?

[CreditScholar]

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@Razeus wrote:

I plan to CLI for 3x my limit in 61 days. I can't do what I need to do with the $1k they give me.  So that's the catch-22 isn't it?

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I think the key is how you're using your current 1k limit. If you're charging $500-800 every month and PIF, then you have a case for asking about a CLI.

However if you're only charging say $150 per month, Amex will likely look at you and say "you're barely using what you've got. Why should we give you more?" This second scenario is what I was referring to in my original post.

[Anonymous]

I saw lots of cases where people got 3x CLI without spending much on their CC. The most important things are income and util

[Anonymous]

+1  Too many people think that merely having an Amex Zync for 6 months will get them a revolver and then after 61 days their CL will triple almost automatically.  If you want to "establish a relationship" with Amex, you'll need to actually use that Zync.  And there's certainly no guarantee you'll qualify for a revolver any time in the future, you'll still need to have the credit for it, though Amex will consider your Zync usage.  Also, while it is Amex policy to allow CLI requests after 61 days and allow customers to request up to 3x their current limit, that certainly doesn't meen anything is guaranteed.  You'll need to show that you would have a use for a higher limit and have the credit and income to back it up.

[jamesdwi]

I agree the 3x CLI isn't a given, I see people with people getting a 3x of there current highest CL and then they are expecting it again in 60 days when no other limit is even close to what AMEX gave them the first time. I don't think it happens often unless they have a long AAoA. For example if AMEX gave you a 6k CL and your next highest CL is 2k, I don't see them giving a 3x CLI to 18k in 60 days or even 6 months if other cards don't step up to what AMEX has allready granted. When your CL is more than 2-3 months of your income I don't see it growing much more for a while. You may see people getting 3x CLI's but I think they also are making in the 100k plus range. 

[jsucool76]

Another thing about the 3x CLI "Policy." 

It's not necessarily a policy. The reason people suggest that member's request a 3x CLI is because 99.97% of the time, the computer system will come back with a counteroffer if what they've requested is too high. It's better to ask for too much and get a counteroffer, then ask for too little and be stuck with a small limit when you could've had more. 

[CreditScholar]

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@jamesdwi wrote:

I agree the 3x CLI isn't a given, I see people with people getting a 3x of there current highest CL and then they are expecting it again in 60 days when no other limit is even close to what AMEX gave them the first time. I don't think it happens often unless they have a long AAoA. For example if AMEX gave you a 6k CL and your next highest CL is 2k, I don't see them giving a 3x CLI to 18k in 60 days or even 6 months if other cards don't step up to what AMEX has allready granted. When your CL is more than 2-3 months of your income I don't see it growing much more for a while. You may see people getting 3x CLI's but I think they also are making in the 100k plus range. 

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+1.

[CreditPacMan]

I don't see why you relate spending with credit limit. A lot of people including myself apply for CLI because they want to keep their utilization low having a fixed spending habit. 

[jsucool76]

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@altayar wrote:

I don't see why you relate spending with credit limit. A lot of people including myself apply for CLI because they want to keep their utilization low having a fixed spending habit. 

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To me a CLI relies more on income rather than spending. You may not spend much on a card, but you may still get a CLI. On the other hand if you have an extremely love income, no one is going to give you a 25k CL.