Low credit limit for new Starwood Preferred Guest applicant?

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tntexan72
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Low credit limit for new Starwood Preferred Guest applicant?

Postby tntexan72 » Thu Jun 09, 2011 11:00 pm

Hello, long time lurker, first time poster.
I just apped for a Amex SPG CC and was approved.
Problem is, my CL is only $1,500.
I was in shocked, had to call the 1-800 again to confirmed.
I am still waiting on my Amex to arrive in the mail.
My 4 other CCs from Chase, Discover, Priceline Visa all have a minimum of $5K plus...
My highest CL is from Discover, which is $15K...

I am thinking, Amex/SPG don't want me to get that extra 15k points at signup. I would have to spend $15K within 6 months, kinda hard to do with just $1,500 CL.

eq fico is 734

Thoughts??


jeffysdad
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Postby jeffysdad » Fri Jun 10, 2011 7:15 am

$1,500 is awfully low for an intro. limit on any mainstream card, especially one aimed at frequent travelers (i.e., large spenders). I suspect they gave you the low limit because you appear to have other recently opened accounts(?) I think you should call them again and ask them to talk with the credit department (it's different from customer service). Tell them you want to speak with someone who can evaluate your case individually. If you do intend to be a serious user of the card, it would be worth it. If not, then I wouldn't bother.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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tntexan72
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Postby tntexan72 » Fri Jun 10, 2011 11:03 am

jeffysdad wrote:$1,500 is awfully low for an intro. limit on any mainstream card, especially one aimed at frequent travelers (i.e., large spenders). I suspect they gave you the low limit because you appear to have other recently opened accounts(?) I think you should call them again and ask them to talk with the credit department (it's different from customer service). Tell them you want to speak with someone who can evaluate your case individually. If you do intend to be a serious user of the card, it would be worth it. If not, then I wouldn't bother.


My Discover opened in 1999, 2 Chase CCs opened in 2002, 2008, Priceline Rewards opened 2011. My UTIL is around 25%. My report is pretty clean....only thing I can think of is...Amex want me as a customer, but they are protecting themselves because of the no AF 1st yr. Alot of ppl prolly obtained their 25k points, than cancel before the AF hit. I thought about asking for a CLI but from what i've read, ppl are saying Amex don't give a CLI til 61 days after the card is activated and 6 months thereafter. Should I call as soon as I get the CC and speak to a Credit Analysts supervisor?

jeffysdad
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Postby jeffysdad » Fri Jun 10, 2011 3:37 pm

I would call as soon as you get the card. $1,500 is ridiculous; it makes the card practically useless, imo.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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tntexan72
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Postby tntexan72 » Wed Jun 15, 2011 4:59 pm

Thanks for the comments....I just activated my card today and called in for a CLI. I will have to wait 61 days before I can request a CLI cause I just tried through their automated system. Do I need to push a little more and speak to a CSR or Credit Analysts to see if they will approved the increase or ride out the 60 days? I just don't see how I can obtain the extra 15k points in 6 months with this low CL.

jeffysdad
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Postby jeffysdad » Wed Jun 15, 2011 8:53 pm

They should at least give you a legitimate reason for not raising it, something other than "it's our policy," etc. I would push for it and ask to speak to a credit analyst. Anyone who fits the profile of the consumer that particular card is targeted to is not going to be happy with a $1,500 limit.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



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