BBB:
That Amex email is the language used for newly approved with "Credit Steps" card holders. To be eligible for an auto CLI at 6 months, the email states a balance must report on the first 5 statements.
Once a CLI is granted, credit steps is over and the statement balance is no longer a factor; monthly usage becomes the the only thing that matters.
This program usually applies to cards granted with a $500 to $1000 starting limit.
Of Note: Others that were approved with credit steps have reported that NOT following the "rules", as laid out in that email, for the first 5 statements did not affect their auto CLI at 6 months.
@Anonymouswrote:The only time I've heard "Credit Steps" talked about was with respect to Capital One. I also didn't know that you were limiting the conversation to CCs with $500-$1000 limits. Outside of "Credit Steps" and low limit starter cards, I can assure you that greater limit cards don't need to report a balance in order to receive a CLI.
OK... I think you may have misunderstood the purpose of my post.
I was not disagreeing with you at all on your point regarding cards (of any limit) not needing to report a balance to get a CLI. I was simply attempting to clarify what the other poster (@Anonymous ) meant by their Amex requiring a statement balance.
My post only mentioned the limits to describe the types of Amex Accounts that are usually placed in "credit steps" since it seemed as though you were unaware that some Amex card holders receive such terms via email - it was not at all an attempt to "limit the conversation".
Also, Amex doesn't call it "credit steps" -- or anything else for that matter - that's just how it has come to be known by folks that receive that email upon approval because it contains language similar to other credit step programs.
My post was meant as an FYI because that email is apparently why the other poster believes Amex likes to see statement balances (and why they cannot implement AZEO) - they may not realize it's just part of the "credit steps" thing and only a temporary condition...
@Anonymouswrote:Not sure where you read that, but it isn't true. In fact, historically, Amex coming from the charge card end of things if anything is viewed as preferring those that PIF / don't carry balances. Of course, that's not the same thing as reporting a balance, but it's worth mentioning here. I've received multiple Amex CLIs without a balance reported. Remember, a balance reported (or not reported) has no bearing at all on usage. Usage is really what matters when it comes to CLIs, as if you use your limit more it gives the lender greater incentive to increase that limit.
...and your insistence that it's not true at all for Amex may be a bit confusing given it's a condition that has been provided, in writing, by Amex. Here's a screen shot of the T&C contained in the email to which the other poster was referring, specifically 1a:
BBB-
I was not the one that first mentioned the Amex email about balances on statements. That was @Procharged392.
You responded to @Procharged392 saying it was not true.
THEN I made my post trying to explain what @Procharged392 was talking about.
And you said I was limiting the conversation. But I was not even a part of the overall discussion. My post was only in regards to the Amex email the other poster, @Procharged392, mentioned to you. My post was not a blanket statement- it was very specific. @Procharged392's post was the blanket statement about Amex and showing balances.
@Procharged392 and I are two different posters.
I was not the one that first mentioned the Amex email about balances on statements. That was @Procharged392.
You responded to @Procharged392 saying it was not true.
THEN I made my post trying to explain what @Procharged392 was talking about.
And you said I was limiting the conversation. But I was not even a part of the overall discussion. My post was only in regards to the Amex email the other poster, @Procharged392, mentioned to you. My post was not a blanket statement- it was very specific. @Procharged392's post was the blanket statement about Amex and showing balances.
@Procharged392 and I are two different posters.