60 Day Credit Limit Increase

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MemberSince99
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Postby MemberSince99 » Mon Jun 17, 2013 1:12 pm

jonheaps wrote:Bumping thread to get any input on above Question. Please help.


My assumption would be, and please keep in mind I'm assuming, but my assumption is they see exactly what YOU see when you soft pull your credit. Everything.

If you assume that you will best be able to prepare.

Also it's a myth that Amex goes out and softs you on the day you make the request - they actually periodically soft your credit, and they use the last time they pulled for the CLI. So you would be wise to keep things in check well before you make your request. You can check your credit to see when they last soft pulled you, but that is what they will use.


flan
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Postby flan » Mon Jun 17, 2013 5:36 pm

jonheaps wrote:Hello friends,

After going thru all the replies on this thread, i guess they perform a soft pull for 3x CLI after 60 days. I just want to ask what all information is included in Soft pull? Do they get all the other credit card balances as part of soft pull as well? I'm asking because i am planning to get a 0% balance transfer offer on my other card, but i dont want to proceed if this will create any problem for me in getting 3x CLI on amex.


A soft pull has all the information on it that a hard pull does. The difference is merely that the only ones that know about a soft pull are the puller, the CRA, and you; a hard pull is seen by anyone who examines the file.

So, yes, if your other card has reported a balance, they'll see it.

jonheaps
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Postby jonheaps » Tue Jun 18, 2013 10:31 am

Thank you MemberSince99 and flan. I guess in this case i need to wait till i get CLI before taking the Balance Transfer on other card.

Scoobynoodles
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Postby Scoobynoodles » Tue Jun 18, 2013 11:15 am

I totally missed all of this, requesting a CLI after 61 days of opening your account. I'm sure you can still call in and request it. I'm going to try it out later today!
AmEx Platinum 2009 & Blue Cash 2012 $3.5K
BofA BankAmericard 2012 $5K | Chase Sapphire Preferred 2012 $10K & Amazon 2007 $1.5K Slate 2013 $2.2K
Community America Credit Union Platinum 2013 $10K
Discover Cashback 2007 $7.5K & It 2013 $5.5K | Citi Simplicity 2011 $4.4K & Diamond Preferred 2011 $2.4K

Vandalized2
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Postby Vandalized2 » Tue Jun 18, 2013 1:41 pm

Scoobynoodles wrote:I totally missed all of this, requesting a CLI after 61 days of opening your account. I'm sure you can still call in and request it. I'm going to try it out later today!


Let us know how it goes!

Scoobynoodles
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Postby Scoobynoodles » Thu Aug 22, 2013 3:51 pm

Forgive me guys...so late responding back. Was MIA for a while on this forum.

I did indeed call Amex that very evening and was denied the 3x CLI. Reason being: considered a medium-risk factor. While my score (at that time) was around 700-740 (Experian), they pulled a FICO score which was much lower...yet used my Experian report and determined my utilization is quite high on some cards. Which is accurate, I took advantage of several 0% apr promo rates and added my tuition and other expenses on them. No biggie. I'm sure Amex as well as other lenders do periodic "soft reviews/pulls" on accounts as they assess the level of risk cardholders have with them. However I have the Platinum Card, and last I checked, I was authorized for a $10K pull if needed. Now yes that figure goes up and down over time, but still makes me wonder on getting denied. It's not like it was a bad mark to me, basically I'll inquire later in the year for an increase.

On my newly Discover IT card, same thing, denied an increase (back in June). Yet today I just got notified my limit increased by $500 bringing to a total of $3500. Weird.

BUT...what I am really chuckling is that I just opened a membership at a credit union here in the Kansas City area yesterday (I relocated here for grad school temporarily). I opened a checking, savings and credit card. I was initially given a $2K card limit, but said "let's shoot for the stars and bump it up." I asked for $10K thinking they will go back and forth in between with the credit agency. So once they verified my info, I was gladly told I know have a $10K credit card on the way. Since I'm in the Midwest-KC area, they pulled my Transunion file, which is notoriously bearish on scores. Surprisingly, my score as of Tuesday was a 740-750 (range) and used that as leverage to ask for the bigger limit. Yet, I weekly look at my scores on BOTH Credit Karma & Amex Credit Secure...and both my TU scores are lower on their sites.

Are you telling me, that my score checked on the same day/time from the same credit agency can be different depending on who I get it from? Credit Karma, Amex CS, and even a new bank or credit union? I'll admit I'm quite lost at that and will do more research, but alas I'm all good. So from being denied a 3x credit increase from Amex yields a nice $10.5K of new and increased credit. Go figure. I'm sure we all may have similar stories, but it's like you can never figure the system out in its entirety. Whatever.
AmEx Platinum 2009 & Blue Cash 2012 $3.5K
BofA BankAmericard 2012 $5K | Chase Sapphire Preferred 2012 $10K & Amazon 2007 $1.5K Slate 2013 $2.2K
Community America Credit Union Platinum 2013 $10K
Discover Cashback 2007 $7.5K & It 2013 $5.5K | Citi Simplicity 2011 $4.4K & Diamond Preferred 2011 $2.4K

takeshi
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Postby takeshi » Thu Aug 22, 2013 4:27 pm

Was the TU score on CK actually updated the same day? CK only updates weekly.

Scoobynoodles wrote:So from being denied a 3x credit increase from Amex yields a nice $10.5K of new and increased credit. Go figure. I'm sure we all may have similar stories, but it's like you can never figure the system out in its entirety. Whatever.

It's not just a matter of the scores but of the requirements of the lender as well.

Scoobynoodles
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Postby Scoobynoodles » Thu Aug 22, 2013 4:47 pm

takeshi wrote:Was the TU score on CK actually updated the same day? CK only updates weekly.


After the pull CK updated my score which actually went down 3 points. I have a 30pt spread from what the credit union pulled to my CK score!!! My Amex CS just registered a hard inquiry but the score stayed the same on TU. But this makes me uneasy that one particular service will give me a different number than its competitor.

Honestly, your score should be the same if pulled on same day regardless of who you're getting it from...yes?!?! And I already notice that when I check both CK & Amex CS because the TU scores NEVER MATCH! Don't know where the discrepancy lies. Really though am I missing something?
AmEx Platinum 2009 & Blue Cash 2012 $3.5K
BofA BankAmericard 2012 $5K | Chase Sapphire Preferred 2012 $10K & Amazon 2007 $1.5K Slate 2013 $2.2K
Community America Credit Union Platinum 2013 $10K
Discover Cashback 2007 $7.5K & It 2013 $5.5K | Citi Simplicity 2011 $4.4K & Diamond Preferred 2011 $2.4K

flan
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Postby flan » Thu Aug 22, 2013 10:18 pm

Scoobynoodles wrote:Are you telling me, that my score checked on the same day/time from the same credit agency can be different depending on who I get it from? Credit Karma, Amex CS, and even a new bank or credit union? I'll admit I'm quite lost at that and will do more research, but alas I'm all good. So from being denied a 3x credit increase from Amex yields a nice $10.5K of new and increased credit. Go figure. I'm sure we all may have similar stories, but it's like you can never figure the system out in its entirety. Whatever.


CK and Amex's CS are offering a different score than what your CU pulled. So even if they're seeing exactly the same data, the score will be different.

Amex, not at all incidentally, has their own models that they use for actually extending credit or not. So none of the three scores you got are the same as what they're actually using. Also, the data they use isn't always current. It's usually the last account review pull they did. Of course, they do use the information about how you're using their products, and presumably, they know that up to the second....



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