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Strange Letter from Amex, should I be concerned?

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Regular Contributor

Strange Letter from Amex, should I be concerned?

I have been an Amex customer for probably a year and a half now. I have a green card and the Everyday. Long story short, when I first applied I was new to credit and probably barely got in with a 1000.00 starting limit on the Everyday. I was thrilled to get it at the time and use it like cash, PIF every month. In the past I have asked for CLI and was turned down citing credit score, acct too new etc. Well, a couple weeks ago I began getting letters from them informing me that they disclosed the incorrect Fico score to me. I got a letter for each time that I requested (three times). Their decision to not grant an increase still stands, just that they wanted to inform me of this and to give me the correct score at that time. Has anyone else had this happen? I am REALLY trying to be patient in requesting again, its just that the Amex is the one I really like to use and like previously stated, I use it like cash and PIF. Now I am getting offers to upgrade my Green to PRG and am prequalified for NextStep loans etc. I asked the CSR about how to get an auto CLI and she suggested that I use it heavily and PIF, so I have begun doing so but in doing that, it has dropped my score a few points this month.Any advice? Thanks!

A credit Newbie

Chase Freedom Unlimited 2200 | Discover IT 3000 | American Express Everyday 1000 | American Express Green | Citi Double Cash 1000 | US Bank Rewards 500 | Quicksilverone 1500 | Celco FCU 300 | JC Penney 500 | Maurices 550 | Victorias Secret 350 | Wells Fargo Car Installment Loan 21000
Equifax 684 Transunion 703 Experian 687
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Valued Contributor

Re: Strange Letter from Amex, should I be concerned?

@artsymom0329.

 

I've gotten that letter before.  Didn't think anything of it and just trashed it.  Like you, I got into Amex with a $1k ED card and hoped that it would increase.  At this point, it remains at $1k.  I was able to get a BCP with a 685 EX score and at some point next summer, I plan to ask if the ED limit can be rolled into the BCP.  There have been instances where they have increased the limit of a $1k card, but I don't hold out much hope for myself as my EX score has not gone over 700.  Keep the faith and keep doing what you're doing and perhaps you will be rewarded for your effort.  As for upgraded the Green card to a PRG, I would go for it.  

 

Happy New Year.

 

Kay.           


Gardening till December 2019
AMEX BCP| AMEX ED| BBVA NBA AMEX| Venture| QS| BoA Cash Rewards| Barclays Rewards MC
Message 2 of 11
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Moderator

Re: Strange Letter from Amex, should I be concerned?

I would not be concerned about the corrected information, if they must disclose the score federal law also requires that information to be correct. This is Amex correcting their own mistake.

Message 3 of 11
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Established Contributor

Re: Strange Letter from Amex, should I be concerned?


@artsymom0329 wrote:

I have been an Amex customer for probably a year and a half now. I have a green card and the Everyday. Long story short, when I first applied I was new to credit and probably barely got in with a 1000.00 starting limit on the Everyday. I was thrilled to get it at the time and use it like cash, PIF every month. In the past I have asked for CLI and was turned down citing credit score, acct too new etc. Well, a couple weeks ago I began getting letters from them informing me that they disclosed the incorrect Fico score to me. I got a letter for each time that I requested (three times). Their decision to not grant an increase still stands, just that they wanted to inform me of this and to give me the correct score at that time. Has anyone else had this happen? I am REALLY trying to be patient in requesting again, its just that the Amex is the one I really like to use and like previously stated, I use it like cash and PIF. Now I am getting offers to upgrade my Green to PRG and am prequalified for NextStep loans etc. I asked the CSR about how to get an auto CLI and she suggested that I use it heavily and PIF, so I have begun doing so but in doing that, it has dropped my score a few points this month.Any advice? Thanks!


I'm in the same boat as you I have an Amex BCE with a 1K SL as well. After my 60th day I requested a CLI and got the same letter.

 

Unfortunately we can't win here as our EX score is pretty low. I gave up on the CLI for the time being. My EX score has suffered from HP's this yr. It definitely need help to go back up.

 

They will evenutally give me an increase once it improves.

 

My advice to you is.. You gotta help your EX score grow, otherwise you will get the same response all the time.

________________________________________________________________________________________
Goal: FICO Scores 800+. Started at 588 last yr.
Current FICO 8 Scores as of 05/03/18: TU: 724 - EQ: 735 - EX: 711

Cards: Amex BCE, Amex EDP, Chase Frdm, Jetblue Plus, Discover IT, PenFed Plat Rwrds, Amazon Prime Visa, BofA Asiana, Amex Delta Gold, Amex Delta Plat, PayPal Mstrcrd, Amex Plat, Amex SPG, Chase CSR.
Message 4 of 11
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Established Contributor

Re: Strange Letter from Amex, should I be concerned?

If you didn't follow the correct rules of requesting, that may have influenced the decision. 

First 60 days of opening the card. If you apply before and get denied, you have to wait 90days. You can recon this by calling and still receive it on your first 60 days. The max amount is 3x you current amount. In another 180 days you can request again. If you request early, your time will still be at the end of 180 days, however, if you are denied at 180 days, you have to wait 90 days to reapply for a CLI. 

This is what I know from reading and testing so far. It is accurate, but could be a little sketchy in some areas. Easiest I can explain. 

GL. I receive CLI with scores of 643. Smiley Happy

Message 5 of 11
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Established Contributor

Re: Strange Letter from Amex, should I be concerned?

In all honesty of being a member of the $1k card club (Delta) a year and 2 months in it's been a no even when my EX hit 741 with no baddies. I recently got hit with an old collection showing up..applied for the HH card and got $8.4k and the score was a EX 688 with the baddie. I'm a firm believer in that Delta will never grow or it would be so slow it will remain useless. The 2nd card was much better after having that year of history in on the Delta.

Fico 8 starting scores 09/27/15 EQ: 646 TU: 622 EX: 668 5 collections 1 PR reporting across the board
Scores 06/30/16 EQ: 685 TU: 699 EX: 695 1 collection now reporting on EQ and EX and 1 PR on EQ
Current scores 11/4/2016 EQ 688 TU: 705 EX: 736 No collections no PR/Judgements Finally Clean
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Super Contributor

Re: Strange Letter from Amex, should I be concerned?

Use the AMEX $1,000 limit fully, then pay in full. Don't worry about your score. Your objective here is to increase the CL. Your internal score with AMEX will increase over time from this heavy usage and payments, and your FICO score will recover after you get the CLI you seek. It will take a bit of time, but if you like the rewards of the card, fully utilize that $1k and enjoy the rewards. The CLI could be an auto CLI (I got one from $2k to $3k in 2014 after using my Delta Gold heavily for a while) or you will find the requested CLI is approved. Be sure to wait the required time from any denial of a CLI.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 7 of 11
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Regular Contributor

Re: Strange Letter from Amex, should I be concerned?

Thanks for the input guys! Unfortunately, I signed on to CK this morning and noticed a significant drop (20pts) because I used 50% of my Amex card for Christmas. I can bounce back from that but man I wish they would auto increase my credit! Aside from the Green card, this is my only Amex card so I am attempting to see how the MR rewards will serve me in the future. One of the components of my Experian score is lack of recent installment info where I refi my car loan and paid off Wells Fargo. Im mulling over the NextStepLoan. Im thinking I better take it and run with it before they get wind of my score drop lol, jk,,,,,,,,,, My last request was on April 13th so I could probably request now. I probably will hold off considering that Im showing 50% utilization (eyes rolling). I spoke to a CSR a while back who told me that he would wait and that my acct would be reviewed withing the next couple of mos regarding automatic increase. Has anyone heard that before? I also asked about the soft pull and he said that it could be a hard pull if they felt it was necessary. I love Amex but their info from CSR's is not consistent.

A credit Newbie

Chase Freedom Unlimited 2200 | Discover IT 3000 | American Express Everyday 1000 | American Express Green | Citi Double Cash 1000 | US Bank Rewards 500 | Quicksilverone 1500 | Celco FCU 300 | JC Penney 500 | Maurices 550 | Victorias Secret 350 | Wells Fargo Car Installment Loan 21000
Equifax 684 Transunion 703 Experian 687
Message 8 of 11
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Valued Contributor

Re: Strange Letter from Amex, should I be concerned?


@artsymom0329 wrote:

Thanks for the input guys! Unfortunately, I signed on to CK this morning and noticed a significant drop (20pts) because I used 50% of my Amex card for Christmas. I can bounce back from that but man I wish they would auto increase my credit! Aside from the Green card, this is my only Amex card so I am attempting to see how the MR rewards will serve me in the future. One of the components of my Experian score is lack of recent installment info where I refi my car loan and paid off Wells Fargo. Im mulling over the NextStepLoan. Im thinking I better take it and run with it before they get wind of my score drop lol, jk,,,,,,,,,, My last request was on April 13th so I could probably request now. I probably will hold off considering that Im showing 50% utilization (eyes rolling). I spoke to a CSR a while back who told me that he would wait and that my acct would be reviewed withing the next couple of mos regarding automatic increase. Has anyone heard that before? I also asked about the soft pull and he said that it could be a hard pull if they felt it was necessary. I love Amex but their info from CSR's is not consistent.


Remember CK  uses Vantage Scores which are not used by most lenders.

 

Anything and everything makes CK scores go up and down.  If you have no current installment loans, then the NextStepLoan seems like a good idea, although since it is offered by Amex, how will it affect you internally with them?  Hope all works out as planned for you.

 

Happy New Year. 


Gardening till December 2019
AMEX BCP| AMEX ED| BBVA NBA AMEX| Venture| QS| BoA Cash Rewards| Barclays Rewards MC
Message 9 of 11
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Super Contributor

Re: Strange Letter from Amex, should I be concerned?


@artsymom0329 wrote:

Thanks for the input guys! Unfortunately, I signed on to CK this morning and noticed a significant drop (20pts) because I used 50% of my Amex card for Christmas. I can bounce back from that but man I wish they would auto increase my credit! Aside from the Green card, this is my only Amex card so I am attempting to see how the MR rewards will serve me in the future. One of the components of my Experian score is lack of recent installment info where I refi my car loan and paid off Wells Fargo. Im mulling over the NextStepLoan. Im thinking I better take it and run with it before they get wind of my score drop lol, jk,,,,,,,,,, My last request was on April 13th so I could probably request now. I probably will hold off considering that Im showing 50% utilization (eyes rolling). I spoke to a CSR a while back who told me that he would wait and that my acct would be reviewed withing the next couple of mos regarding automatic increase. Has anyone heard that before? I also asked about the soft pull and he said that it could be a hard pull if they felt it was necessary. I love Amex but their info from CSR's is not consistent.


I would not suggest the NextStep Loan, if your objective is to show an Installment loan. Instead, go to a local Credit Union, or Alliant FCU, open a small $500 loan, which can be secured by $500 on a savings account. This results in a very low APR on the installment loan, it reports as an installment loan (you have to watch that they don't get you a revolving line of credit) and then that gives you 4 or 5 years of drip-drip-drip installment activity.

 

As to the CK score? It's not FICO you realize? It's more squirrelly and less comparable to FICO scores. Also, as I'd like to emphasize again, your objective sounds like you want a CLI with AMEX. The CSR is correct, but they cannot commit to a date-certain when you would expect to see an auto CLI: Use the card heavily, pay in full, keep pushing that $1k limit so they get the message it is not enough. Your FICO score won't be optimal, the CK indication of some score drop is directionally correct, but again, your focus is on the CLI within the AMEX account, not new apps at this time. Get the CLI (either auto or requested when available) and your utilization will then look better.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
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