In July I applied for a credit limit increase on my Amex Blue Cash Preferred but was denied. Reason for denial: Fico Score too low. Although my actual score was 737 the score they pulled on the Amex app was a month old, 708.
Now that it's been at least 93 days (according to the date on the denial letter) I'm contemplating trying again. I just don't know what score I should aim for before trying again? I'm currently at 732 on both MyFico and on the Fico score on the Amex App. Any suggestions on a recommended score to have before going for my Amex CLI again?
What's your DTI? While they claim it is a score issue, it could be something else
It's an SP, you are past the 91 day mark, and your score is higher than 720 now, I probably would go for it. Good luck!
@1GaDawg85 wrote:What's your DTI? While they claim it is a score issue, it could be something else
My DTI is 16%
@sxa001 wrote:It's an SP, you are past the 91 day mark, and your score is higher than 720 now, I probably would go for it. Good luck!
If 720 is a good benchmark hopefully they say yes! Thank you! I appreciate the info and well wishes!
@coldfusion wrote:Your score is OK, but the problem with scores are that they aren't representative of the whole picture. There's something specific to your profile that makes them uncomfortable.
Have you for example ever had a single late payment with them or had an issue with a failed payment that you caught and rectified before a due date?
No late payments. I just got the card in April. I have 100% payment history with them and all my other cards. I've paid in full each month since getting the card. Usually put about $800 of spend on it each month. Also on all my other cards my utilization is 0%. I do AZEO so I usually have a balance on one card ranging $5 to $20. Other than that they all report $0 balances.
Only thing you have to lose is another 91 day wait. 720 is usually a good barometer. Obviously they are more comfortable with you judging by the BBC approval last month, although that may play into whether a CLI approval happens or how much.
@K-in-Boston wrote:Only thing you have to lose is another 91 day wait. 720 is usually a good barometer. Obviously they are more comfortable with you judging by the BBC approval last month, although that may play into whether a CLI approval happens or how much.
Thank you for this feedback! I appreciate it!