AMEX CLI experience

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Location: Texas

Postby jeffysdad01 » Sun Nov 09, 2014 10:49 am

In the course of recently closing two of my three Amex accounts I asked for the credit lines of the accounts being closed to be added to my one remaining account. With the first closed card that happened without a hitch and the CL on my Amex BCP (the keeper) went up to $31,800. I had to give up $500 from the closed credit line as is common practice in such situations for Amex. A day or two later I decided to close the other Amex (the Everyday). That one closed and I was told its line, minus $500, would be added to my BCP. But that never happened. I just got a letter from Amex explaining that you can only consolidate one credit line per month with them. Disappointing. Had I known that, I would have waited to do the second card cancellation. Oh well.

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Postby flan » Sun Nov 09, 2014 10:50 pm

Cre wrote:Here's another anecdotal point about AMEX CLI that I learned over the phone today, which seems consistent with what thom02099 posted.

According to the AmEx rep I spoke with, the 3XCLI doesn't apply if the credit limit is already high. The rep did not state exactly how high was high, but indicated that my starting CL was fairly high for a revolving credit card. He said the 3xCLI in 61 days is more applicable to initial credit limits of $2,000. Hence, the 3XCLI would jump to $6,000 if approved. Or $3,000 could jump to $9,000.

The credit increase is never guaranteed, no matter what your current limit is. 200% increase is just the most that they'll approve under normal circumstances. They counter with the maximum amount they're willing to increase, which means there's little reason not to ask for the max.

So I asked him, if I waited 61 days, and asked for a 3XCLI, would I get one. He said no, not once one already was at the limit I was approved for. But then he did something else while we were talking, unbeknownst to me. He put in a charge for $30K on my account, and it went through no problem and was approved, even though my limit was only $24K. My first question was will that charge you put through effect my credit rating? He said no. Apparently the AmEx reps can put through charges to test what will get approved. This seemed like useful information to know.

So, the take away here is, yes, there is a limit to the limit, in that 3XCLI doesn't apply to CL's that are already above a certain threshold. While the AmEx rep did not state what that specific threshold is, we now have two anecdotal examples that are consistent with each other, right about the $25K mark.

The second take away is, no, there is no limit to the limit... or at least, the stated limit can be exceeded, by no small amount, at the discretion of whoever is behind the black curtain who makes these determinations on the spot. The useful information I see here is that even though one's card may have a limit, it may be possible to exceed that limit on a purchase, if approved. From this I gather that for those who actually need a CLI to use, not just to lower their percentage of utilization, there appears to be an approval methodology already in place to allow for it on a case by case basis.

A year or so ago, when I got a limit increase on my blue sky, I used the "will my charges be approved" feature before asking for a CLI. At the time, my limit was $6K. I checked to see if a charge for 12K would be approved. It wouldn't be. I then asked for an increase in credit to 18K, which I got instantly. So, I don't think the 'will my charges be approved' is as closely tied into credit limit as you'd think. the next incease, I asked for 48K, and got a bit more than 30K, with no request for any additional information. I haven't done another increase request; I don't use the card enough to care about utilization on it, and the weird number I got made me think I'd hit a percentage of available income limit.

When I first got the card, my first real charge was for 1.5 times the limit. I called, and said "I'm buying a flux capacitor. It'll be $3k, will you let me charge it?" They said yes, I did, and had my bank send the money the next day. I made another set of charges for about 2.5 times the limit, and again, they approved, but required an authorization to make a draft against my checking account at some point in the near future. I paid before that, they didn't make the draft.

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