Credit limit increase before 61 days

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7 posts
kyoho8
 
Posts: 1
Joined: Sat May 02, 2015 11:12 am

Credit limit increase before 61 days

Postby kyoho8 » Sat May 02, 2015 11:21 am

I am 24, received my first credit card in March 2013 (Citi Forward), and have been getting credit limits since. 2 weeks ago I decided that I wanted to apply for Amex BCP because of having a family and traveling for work- so I found that this would be amazing for gas and grocery rewards. I applied and got approved for $8500. I have put a few hundred dollars on it so far and was planning to do the credit limit increase at 61 days. Today I was playing around on the website and seen the credit limit increase button. I put my card number in, income, credit limit increase request and was approved. I'm not sure if they changed their policy or if it was a glitch but I have no previous history with them and just received the card a little over a week ago. I didn't want to request the full 3x amount, so I requested 21k, thinking that they would counteroffer, but they accepted the full amount CLI. I'm just putting this on here because I haven't seen any posts about doing the CLI before 61 days. Please feel free to let me know if I am wrong.


jcarte29
Centurion Member
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Posts: 183
Joined: Fri Jan 30, 2015 1:29 pm
Location: Charlotte, NC

Re: Credit limit increase before 61 days

Postby jcarte29 » Sat May 02, 2015 12:53 pm

Wow! That's awesome. I guess it can't hurt to try if it's all SP. I'm 4 months past my first CLI with AMEX, I plan on (unless someone confirms the OP) askin full 3x amount in July on my ED.
Portfolio:
CITI Diamond Preferred $7,000 [06-16]
AMEX Platinum (Charge) [11-16]
AMEX EDay $12,000 [11-14]
Lowes Store $15,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Red MC $10,350 [10-14]
Discover IT $4,500 [03-15]
Chase Marriott VISA $5,000 [04-15]
Cap One Quick $2,600[4-10]

Vermonster
Centurion Member
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Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Credit limit increase before 61 days

Postby Vermonster » Sat May 02, 2015 2:01 pm

Yeah the 61 days seems to be less of a hard rule. Some people are getting them day one. It is a risk though, because if you get denied, you will have to wait 91 days to ask again.

Sounds like it paid off for you though. Congrats.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

takeshi
Centurion Member
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Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Re: Credit limit increase before 61 days

Postby takeshi » Mon May 04, 2015 9:06 am

kyoho8 wrote:I'm not sure if they changed their policy or if it was a glitch

People have been reporting getting a CLI prior to day 61 on various credit card sites.

kyoho8 wrote:I didn't want to request the full 3x amount, so I requested 21k, thinking that they would counteroffer

Why not? They would have countered if you had requested 3x and qualified for less. In any case, enjoy the CLI!

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CarefulBuilder14
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Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Credit limit increase before 61 days

Postby CarefulBuilder14 » Wed May 06, 2015 8:17 pm

I called Amex and asked if I could move some of my BCE CL over to EDP. The CSR said it would not be possible until my EDP had been open for at least 90 days. **

It does seem odd that they would allow "true" CLIs before that. After all, I wasn't asking Amex for more credit - just to move some of the credit I'd had since 2014 to a card with better rewards.

$4.5k on EDP is adequate for me, especially with my habit of making a mid-cycle payment or two. $6k sitting on the BCE is just a waste, though. An $8.5k EDP and a $2k BCE would be better.

A similar request with Chase - to move some of my CSP limit over to Freedom - took about 2 minutes from calling Chase to its completion. Maybe it's not a completely fair comparison, since the Chase cards are both over 90 days old.

**The Amex CSR just called me and said I had to wait 60 days, not 90, to make the request.**
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Vermonster
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Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Credit limit increase before 61 days

Postby Vermonster » Wed May 06, 2015 9:20 pm

CarefulBuilder14 wrote:**The Amex CSR just called me and said I had to wait 60 days, not 90, to make the request.**

I think their reasoning is that it prevents fraud. This way someone can't open a card in your name and move all your credit lines to it right away.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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CarefulBuilder14
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Re: Credit limit increase before 61 days

Postby CarefulBuilder14 » Thu May 07, 2015 9:35 am

Vermonster wrote:
CarefulBuilder14 wrote:**The Amex CSR just called me and said I had to wait 60 days, not 90, to make the request.**

I think their reasoning is that it prevents fraud. This way someone can't open a card in your name and move all your credit lines to it right away.

I can understand that. I just hope I actually can move the limits around in 2 months without a hassle (or HP).
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when



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