61 day CLI success

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Battery111
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61 day CLI success

Postby Battery111 » Mon Jan 05, 2015 6:56 pm

Just realized it was my 61st day on my everyday card. Decided to do the CLI and see what all the fuss is about. I was initially given a $6,500 limit on this card, so 3X would have been $19,500. I chickened out and decided for a nice even $18k. I know, I'm stupid, no reason not to try for 3X, not sure why I didn't.

Anyway, if you didn't see where this was going I was instantly approved for the $18k. Guess I'll wait my 6 months now and go for $25k. I believe that is the point where you have to start submitting paperwork to go higher, correct? Or is it $30k.

I'm not lying about my income or anything stupid like that. I would just prefer to avoid the hassle.
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flan
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Postby flan » Mon Jan 05, 2015 9:53 pm

Battery111 wrote:
Anyway, if you didn't see where this was going I was instantly approved for the $18k. Guess I'll wait my 6 months now and go for $25k. I believe that is the point where you have to start submitting paperwork to go higher, correct? Or is it $30k.
.


It's whatever number amex decides. Sometimes it's 2000, sometimes it's $100,000.

takeshi
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Postby takeshi » Tue Jan 06, 2015 8:46 am

Battery111 wrote:Anyway, if you didn't see where this was going I was instantly approved for the $18k. Guess I'll wait my 6 months now and go for $25k. I believe that is the point where you have to start submitting paperwork to go higher, correct? Or is it $30k.

Seems to vary. Some seem to get income verification at $25K. I didn't run into it until I was trying to go from $31.9K to $45K total for all cards.

Battery111 wrote:I would just prefer to avoid the hassle.

Your call certainly but it's no big deal IMO. Just follow the directions and fax in the paperwork. If you expect CLI's down the road you'll run into it at some point anyway.

p51
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Postby p51 » Wed Jan 07, 2015 11:52 am

Battery111 wrote:Just realized it was my 61st day on my everyday card. Decided to do the CLI and see what all the fuss is about. I was initially given a $6,500 limit on this card, so 3X would have been $19,500. I chickened out and decided for a nice even $18k. I know, I'm stupid, no reason not to try for 3X, not sure why I didn't.

Anyway, if you didn't see where this was going I was instantly approved for the $18k. Guess I'll wait my 6 months now and go for $25k. I believe that is the point where you have to start submitting paperwork to go higher, correct? Or is it $30k.

I'm not lying about my income or anything stupid like that. I would just prefer to avoid the hassle.


This might be a stupid question. Does the 61 day CLI only apply to AMEX credit cards?

I have an AMEX charge card does that work differently? I have no idea how much i'm authorized to spend.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

popamode72
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Postby popamode72 » Wed Jan 07, 2015 12:48 pm

p51 wrote:This might be a stupid question. Does the 61 day CLI only apply to AMEX credit cards?

I have an AMEX charge card does that work differently? I have no idea how much i'm authorized to spend.


Yup. And there have been many cases now of people getting approved for CLIs after 31 days after they get their first revolver with Amex as opposed to the usual 61 day mark. It's a new trend that's been going on with them.
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Vattené
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Postby Vattené » Wed Jan 07, 2015 3:20 pm

p51 wrote:This might be a stupid question. Does the 61 day CLI only apply to AMEX credit cards?

I have an AMEX charge card does that work differently? I have no idea how much i'm authorized to spend.


Correct. The charge cards have no hard credit limit, so a 3X CLI is not applicable. You have a "hidden" dynamic limit. While it is not the only factor, good history will help out this hidden NPSL.
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p51
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Postby p51 » Wed Jan 07, 2015 7:42 pm

Vattené wrote:Correct. The charge cards have no hard credit limit, so a 3X CLI is not applicable. You have a "hidden" dynamic limit. While it is not the only factor, good history will help out this hidden NPSL.


Thank you for the information.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

p51
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Postby p51 » Wed Jan 07, 2015 7:43 pm

Vattené wrote:Correct. The charge cards have no hard credit limit, so a 3X CLI is not applicable. You have a "hidden" dynamic limit. While it is not the only factor, good history will help out this hidden NPSL.


Appreciate the info.
Capital One secured opened May 2012 -- $1401 ($1200 of my own money to increase limit) I will be closing this as soon as I qualify for an AMEX Simply Cash business card (hopefully this summer).
Amex PRG opened Nov 2014 -- No preset spending limit
Chase Freedom Nov 2014 -- $4000
Bank of America Cash Rewards Nov 2014 -- $2500

raven2k12
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What about Amex business credit cards?

Postby raven2k12 » Fri Jan 16, 2015 2:22 am

popamode72 wrote:Yup. And there have been many cases now of people getting approved for CLIs after 31 days after they get their first revolver with Amex as opposed to the usual 61 day mark. It's a new trend that's been going on with them.


Will the 3x limit work after 61 days on an Amex business credit card?

ingramjuan
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Postby ingramjuan » Fri Jan 16, 2015 8:50 am

Very interesting, I have had my card for over 20 months and was given a CLI after 13 months without asking, I guess I call and ask for a CLI to see what happens. Was that a hard pull and or a soft pull of your credit report?
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