Question About Amex..

[Madyun1982]

I was wondering if Amex prefer multiple payments impose to 1 large payment?

I'm asking because I used my new amex card.. Spent roughly 2,000 to meet the SUB.. I paid it back on due date. Spent another 1,000 on the card,  and paid it back Statement doesn't cut until the 7th of this month. However when I asked for a Cli they denied it stating not enough payments.. So moving forward should I pay the balance down over time? I currently have the 0%apr for 15 months.. Just wanna know how to play this so when I try again for a Cli I won't get denied for the same reason. 

Thanks in advance everyone..

[M_Smart007]

It is my humble opinion that Amex wants to see a longer term track record before opening of the purse.

While making large payments is good, put yourself in their shoes .. I am not saying you would burn them,

but trust me, they have been burnt probably more times than we could ever count.

They are just lending on the side of caution. Extension of credit is a privilege.

Whatever amount that extension may be.

[Madyun1982]

Thanks for replying..I def understand them wanting to use prudence! I have only had the card since Jan.. And I work for a financial institution and I see it everyday when it comes to being burnt. However I don't spend what I cannot afford to pay back.

I'm just curious of what type of spend or payments they like or dislike. 

[Anonymous]

I think they count payments in relation to statements, not necessarily the amount of physical payments you have made.   If you only got the card in Jan you have only really had 3 or so statements.  I think they want a little more history.  

I also got my Amex in Jan and am itching for a CLI, but with the current economy I'm sitting back for a few more months to give them more history with them under my belt.

[Madyun1982]

I guess I'll follow your lead, and do the same.. Just happy it wasn't a hard pull. I'll probably bother them again in June..

[Brian_Earl_Spilner]

Not enough information to advise. What's your FICO ex8? How's your credit profile. How long have you had the card? What card is it?

[Anonymous]

Not everyone gets the 61 day CLI, it's a YMMV situation. Some people with less favorable profiles will have to spend more time earning their trust with larger limits. If you're not successful with the 61 day CLI, then you might have to wait till the 6 month mark. 

[Madyun1982]

Thank you. Yea they gave me A pretty decent SL @10,600.. So I'll just wait. And I'm noticing they haven't updated my FICO score on their site. They're still using my score from approval.. And my score has increased since then. 

@Brian.. I have the cash magnet card no annual fee..

No baddies on my reports

Ex FICO 771 Eq 794 Trans 791

[pinkandgrey]

I've generally always PIFed my Amex card. I've gotten plenty of good increases. I doubt your payment method is causing CLI denials.

You'll get one sooner or later. Mark my words lol

Good luck! 

[DebtJoe]

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@Madyun1982 wrote:

I was wondering if Amex prefer multiple payments impose to 1 large payment?

I'm asking because I used my new amex card.. Spent roughly 2,000 to meet the SUB.. I paid it back on due date. Spent another 1,000 on the card,  and paid it back Statement doesn't cut until the 7th of this month. However when I asked for a Cli they denied it stating not enough payments.. So moving forward should I pay the balance down over time? I currently have the 0%apr for 15 months.. Just wanna know how to play this so when I try again for a Cli I won't get denied for the same reason. 

Thanks in advance everyone..

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Your miles may vary is a safe answer I guess. I've had a Blue Cash Everyday card for almost a year now and my limit is still sitting at $500. I use it to the limit every month and always PIF. I've been denied every time I hit that CLI button. I've gotten another card from them since with a $2k limit but that first one isn't budging at all.