Would you ask for an Amex CLI?

[Anonymous]

I've hoped for a CLI on my account for a while now, but I get shot down every time. I believe the 750 FICO score for a CLI thing is probably true.

My anniversary comes up in February, so hopefully I'll get an auto-CLI then. The CL on my Clear is $8900, so I'm not really desperate for one though. 

However, my Platinum card doesn't have an exposure limit on it, so that's always good. But, I heavily, heavily utilize that card. At least until BOA gets my product change right on my Accelerated Cash Amex. 

[haulingthescoreup]

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lawskool09 wrote:

I have Delta with a $2000 CL.  I wanted to ask for an increase.  Technically I don't need one, but I wanted to cover the "loss" of a CLI from two cards I may close (closing because of AFs).

I've had the card 6 months and I PIF every month.

ALSO, If I decide to carry a balance for a month or two is it too early for that?

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I think this got overlooked in the mass heart attacks that everyone just had over the thought of asking for a CLI, but this is a terrible idea. No one should be carrying a balance on AmEx these days, I don't care what APR they're dangling at you, except possibly for long-timers with pristine credit, and even then, it's a bad way to draw attention.

With both an attempted CLI and carrying a balance, you'd be like that Gary Larson Far Side cartoon of the deer with a bulls-eye target on its chest. Caption: "Bummer of a birthmark, Hal."

[Anonymous]

It's not likely that I'll carry a balance, but I thought I would ask.  Besides, it doesn't seem to make a difference whether one carries a balance or not.  It seems people are getting CLD anyway....

I guess asking for a CLI is worse than the hit to my scores if I close those cards.  I risk CLD either way....

[Anonymous]

Becareful when you do it!

I started off with $2000, 9 months ago.

Last week CLD to $800.

PIF each & every month, many times I've paid extra to cover parts of current month's spending.

Still, they CLD.

Keep low key & low overall credit balance, especially with other cards.

Watchout for auto loans too. One of the CLD reasons they gave me was the auto loan I am currently with is considered "RISKY" - and that is with Capital One Auto, and I have perfect payment history since approved 2 years ago.

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 AMEX is Prime Rubbish!

[Anonymous]

Oh great!  Guess which lender I have for my auto loan....

I will try to stay on the DL.  So far, the only inquiry they've done was for for the card.

[haulingthescoreup]

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lawskool09 wrote:

It's not likely that I'll carry a balance, but I thought I would ask.  Besides, it doesn't seem to make a difference whether one carries a balance or not.  It seems people are getting CLD anyway....

I guess asking for a CLI is worse than the hit to my scores if I close those cards.  I risk CLD either way....

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I just re-read my note, and I didn't mean for it to sound so preachy or whatever! --sorry about that. But although it's sometimes hard to figure what triggers the CLD's, some have worse consequences than others. The bad thing about carrying a balance is that they tend to "chase the balance", where they keep dropping the CL to a couple hundred dollars above your current balance, and when you make a payment and reduce the balance, they drop the CL again by the same amount, and on and on until the game is done.

I think I'd rather have a $0 balance on a $500 card than continually be essentially maxed-out from the balance-chasing game.

[Anonymous]

The whole 750 thing is true and I was told that by a representative.  I would continue to be careful with AMEX until you hear otherwise in the future.

TheTaxMan

[Anonymous]

AMEX has been very strange...Two weeks ago I got the CLD letters from AMEX for my Optima and Blue cards. In one stroke 20,000 of unused credit disappearred. I'm sure this will help my scores...

Today I checked online to verify posting of a payment, and surprise, the Optima CL is up 700. Huh?

[Anonymous]

Wow burbank, they got you good! I am so glad I closed my amex account. That 700 cl is almost as bad as my gemb old navy card! Wow! :-(

[score_building]

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@haulingthescoreup wrote:

No one should be carrying a balance on AmEx these days, I don't care what APR they're dangling at you, except possibly for long-timers with pristine credit, and even then, it's a bad way to draw attention.

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and, with few exceptions, it also seems like none of their card holders should be carrying a balance with anyone else either, at least not any balances to speak of.  

apparently they also dislike card holders carrying balances with other creditors equally if not even more.  it is one of the 'reasons' for aa they reportedly list in aa letters with frequency.