What's been anyone's experience with hitting the Amex Cumulative limits. I have Delta Reserve at $20K CL and an Amex EDP at $13.8K CL....looking at the Cash Magnet, but not sure if the $35K cumulative limit still exists...or if they are particular scenarios that will trigger financial review. I have the income, but don't like a company in my tax details....thoughts?
You won't be subject to financial review for requesting CLIs. Financial review is an onerous process where your accounts are shut down, either temporarily or permanently.
What you might be asked for is income verification. 35k is the number where this seems to start. But I don't know how it works with multiple cards. Someone's going to have to chime in on that. Otherwise, the 3X AMEX CLI thread would be a good resource.
What I can tell you is that requests for income verification can be ignored. When requesting a CLI, if you're prompted with an IV request, hit the back button and request a lower amount. Repeat as necessary. When the IV forms arrive in the mail, you can shred them.
If you apply for another card & they've already extended you the amount they're currently comfortable with they may pull credit off another card to provide you with a limit on the new one.
There is no concrete proof of this, but by everything I've read, $35k exposure seems to be it for people sub 100k income...