AMEX 3x CLI = $100

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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Postby CarefulBuilder14 » Tue Oct 14, 2014 3:58 pm

jumbo wrote:The exact words from AMEX:

We were unable to approve the full amount you requested at this time for the following reason(s).
"[color="red"]Your overall debt with other creditors as reflected in your credit report and your credit limits on your American Express Cards relative to your reported income.[/color]"

I have around 3K sitting on Chase Slate with 0% APR and my income is little over 50K.

What are your total credit limits across all cards? If they thought your total credit limits were high relative to your income, then what they gave you may simply have been the closest reason from their list of options.
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Postby jumbo » Tue Oct 14, 2014 4:21 pm

CarefulBuilder14 wrote:What are your total credit limits across all cards? If they thought your total credit limits were high relative to your income, then what they gave you may simply have been the closest reason from their list of options.

My total CL from adding all cards is around 45K.
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Postby flan » Tue Oct 14, 2014 9:45 pm

lobbythis wrote:Wow, so they do consider income? Lame.

They are now required, by US law, to consider you ability to repay. So, yeah, they take income into account, as that's the usual proxy for ability to repay. Something around 40% of income seems to be the amex revolver limit for personal accounts, but there are probably more complicated at factors, and no one is going to tell us them. (I expect debt to income is a big factor.)

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Postby lobbythis » Tue Oct 14, 2014 11:25 pm

I mean, I know it's an issue when you initially app. But, didn't know it was an issue when you're already a loyal customer with clean history simply asking for a CLI. In another thread, people were claiming it is not an issue, so it's a bit confusing.

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Postby rockyrock » Wed Oct 15, 2014 8:51 am

lobbythis wrote:Wow, so they do consider income? Lame.

It's called responsible lending. We haven't seen it in many years but trust me, it is a good thing.
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Postby whit » Wed Oct 15, 2014 8:52 pm

I agree, it's the same people who complain about fast and loose policies that in the end lost out, are usually the same ones that come in irate at not getting the lending helping hand they need--not, that all those who lost are a part of that, obviously.

but it's like the go v't banks on a surplus of cash from taxes and such and when those businesses don't earn enough or something happens that all of a sudden that cash is no longer available at the amount they thought it would be

suddenly money that was set aside for certain programs or projects dry up

like when the sta te builds a V A hospital / facility and they only have enough money to have built it but suddenly none to fund the staffing of and the bills of running that place and they don't realize it until the darn building is built

people always say that they'll be able to pay and it's their absolute belief they can but if the numbers don't match up on the conservative side, it won't fly these days

unlike back then, when it was more of a gray area, but that got abused to the point where to be fair and responsible, everyone is adhered to the same underwriting when it comes to credit cards and mortgages

regardless of how unique your situation is, unless the writing is on the wall (eg, they might raise your CL if you only make 50k a year but hold millions with them)

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Postby Berk » Thu Oct 16, 2014 8:32 am

AMEX seems to still be very conservative in many areas. I am guessing that it is because they were a charge card only company for the first 30 or so years of their existence. As far as I know they are the only company to perform financial reviews of cardholders. They are also the only company to require that I disclose my entire net worth - not just my income - whey I applied. But, they have also been the most generous with CLIs on the one credit card I have with them and they do offer me the Pay Over Time option on my Premier Card (although I never take them up on it) so, in that respect they have always been good to me.
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