SPG Approved ...sort of in shock....limit issue...

[Andy77]

So, I got approved for Amex SPG with a 1000.00 limit...was quite shocked at how low.

My Bloomingdales is 3k

Cap One 33k, Penfed 20l, other Penfed 15k...

EX was 661

I guess what I cant wrap my head around is they are letting my charge 4k on my Platinum card that is a week old, but only extended to me 1k on the SPG card.

Not logical AT ALL

Should I charge 1k on the card for two months and PIF or should I call in when my score jumps to 681 and try for an increase before the 3 month mark is up ?

[Ghoshida]

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@Andy77 wrote:

So, I got approved for Amex SPG with a 1000.00 limit...was quite shocked at how low.

My Bloomingdales is 3k

Cap One 33k, Penfed 20l, other Penfed 15k...

EX was 661

I guess what I cant wrap my head around is they are letting my charge 4k on my Platinum card that is a week old, but only extended to me 1k on the SPG card.

Not logical AT ALL

Should I charge 1k on the card for two months and PIF or should I call in when my score jumps to 681 and try for an increase before the 3 month mark is up ?

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Weren't you denied for an AMEX revolver shortly after getting the Platinum?

It seems like AMEX doesn't want to extend you revolver credit right now. 

The underwriting is different between charge cards and revolvers. The spending limit of one doesn't have any immediate bearing on the credit limit of another. 

To get a healthy limit (say $5k upwards), wait till you get your scores to around 700. 

Also, no need to call in. You should be able to use the AMEX 3X CLI process as outlined in that 3X CLI thread. Just ensure you've raised your scores high enough. I was stuck at $1k for a long, long time. 

[Aarvard]

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@Andy77 wrote:

So, I got approved for Amex SPG with a 1000.00 limit...was quite shocked at how low.

My Bloomingdales is 3k

Cap One 33k, Penfed 20l, other Penfed 15k...

EX was 661

I guess what I cant wrap my head around is they are letting my charge 4k on my Platinum card that is a week old, but only extended to me 1k on the SPG card.

Not logical AT ALL

Should I charge 1k on the card for two months and PIF or should I call in when my score jumps to 681 and try for an increase before the 3 month mark is up ?

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I'm surprised Amex approved your SPG app with an EX score of 661. I think your low score is the main culprit for that tiny SL.

[Credit-hoarder]

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@Aarvard wrote:

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@Andy77 wrote:

So, I got approved for Amex SPG with a 1000.00 limit...was quite shocked at how low.

My Bloomingdales is 3k

Cap One 33k, Penfed 20l, other Penfed 15k...

EX was 661

I guess what I cant wrap my head around is they are letting my charge 4k on my Platinum card that is a week old, but only extended to me 1k on the SPG card.

Not logical AT ALL

Should I charge 1k on the card for two months and PIF or should I call in when my score jumps to 681 and try for an increase before the 3 month mark is up ?

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I'm surprised Amex approved your SPG app with an EX score of 661. I think your low score is the main culprit for that tiny SL.

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On the contrary. Not sure what minimum score AMEX requires for approval, but speaking from experience unless your EX scores is 690 or better, chance are they're going to give you a tiny SL. I was at 680 when I was approved for the Everyday card and only got $1000 CL.

[Anonymous]

Seems that plenty of people who get approved for Amex revolvers start with low SL.

[Anonymous]

Congrats on the new Amex!  

Yes, your score is a bit low for Amex to give out the larger limits.  You can try for a cli in 61 days.  And if denied, again in 90 days.

Plat has no limit per say.  But I'm sure 25k isn't a lot for Plat.  My hubby hasn't had his for too long and he's gone through a bunch on it already.  Has no problem charging what he needs.

I think once your score goes up, you'll get the high limit.  

[Andy77]

1000.00 is very low.  My Bloomingdales is 3k

My only card that is 1k is a Cap One Business Visa that I got when my utilization was at 98 %.  It is at 30 % now with 325k income... BUT 661 EX....Which I think did me in when i applied for this card, as another member pointed out...my score killed me.

I am HOPING that my 3x CLI in 61 days is going to actually be for more than a 3k limit increase at least....we shall see in a few months.

[Andy77]

When I called in today  a rep said they could manually re-evaluate my application to try and get me a higher limit now...but I thought...why bother...

I MIGHT try when my EX hits 680, in two weeks, but then again, another member said he only got 1000.00 with a 680 score...

Credit lending is never logical...

[wasCB14]

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@Anonymous wrote:
Seems that plenty of people who get approved for Amex revolvers start with low SL.

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Rebuilders and heavy appers? Sure.

I've seen plenty of people with spotless histories and not too many accounts get SLs above $5k.

[Anonymous]

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@Andy77 wrote:

When I called in today  a rep said they could manually re-evaluate my application to try and get me a higher limit now...but I thought...why bother...

I MIGHT try when my EX hits 680, in two weeks, but then again, another member said he only got 1000.00 with a 680 score...

Credit lending is never logical...

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You can really type in any amount for your new cli on Amex.  I always stay on the safe side.  But I do hear you about the low limit.  Another reason why I wait awhile before app'ing for a card I really want a great SL.  

Wait 2 weeks, I bet it will help.