How to get higher CL with AMEX?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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BCF
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How to get higher CL with AMEX?

Postby BCF » Wed May 09, 2012 12:32 am

I currently have 2 CC with BofA with the CLs of 2k and 5k, a store card with $300 limit, and a blue cash with 2k limit.

I read that AMEX will review the credit limits every 6 months, I got the blue cash on January so I have 2 months left.

My question is, what is the best strategy to get maximum credit limit after six months? Should I cancel the store card to increase the average credit limit on my cards?
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300


JCarter
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Postby JCarter » Wed May 09, 2012 3:58 am

Pay them all off, and ask BoA for a credit line increase.

DavidNY
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Postby DavidNY » Wed May 09, 2012 10:08 am

What is the incentive of a lender to grant a CLI request if the client is not using the CL?

Crashem
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Postby Crashem » Wed May 09, 2012 10:13 am

Lenders vary. Some like low util. Some like high usage. If you are using card and have no running balance, that is safest. With Amex you can apply for cli at 61 days when you first get card and then every 6 months
Amex Centurion, Amex Platinum, Amex BCP 8k->24k (5/23/12), Amex TE 15k, Cap One 1.5% 15k->20k (8/7/13), CSP 25k, Chase Palladium 100k, Citibank AA 35k (AU), Firestone 1.8k->2.2k->2.4k (8/20/12), JFCU Jloc 30k, PenFed Plat Rewards 30k, SF Fire 30k, US Bank Cash+ 25k

BCF
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Postby BCF » Wed May 09, 2012 11:00 am

JCarter wrote:Pay them all off, and ask BoA for a credit line increase.


I always pay in full before closing date, but since I used AMEX for most of my expenses I guess BofA won't give me CL incease.
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300

BCF
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Location: Florida

Postby BCF » Wed May 09, 2012 11:05 am

Crashem wrote:Lenders vary. Some like low util. Some like high usage. If you are using card and have no running balance, that is safest. With Amex you can apply for cli at 61 days when you first get card and then every 6 months


I had 4k spending in 4 months, and always paid in full.
The main question is "Should I close the store card because it has a low CL? Do AMEX consider it as a negative parameter on my credit history?"
AMEX Blue Cash Preferred 5k
BofA Cash Rewards Visa 5k
BofA World Points MasterCard 4.4k
Kohls Store Card 300

JCarter
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Postby JCarter » Thu May 10, 2012 11:10 am

BCF wrote:I had 4k spending in 4 months, and always paid in full.
The main question is "Should I close the store card because it has a low CL? Do AMEX consider it as a negative parameter on my credit history?"


No, do not close any card at all until you have received a decision on your CLI.



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