Do you have to wait 6 months to raise your credit line?

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ncosky290
Centurion Member
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Posts: 182
Joined: Tue Feb 12, 2013 7:37 pm
Location: Minneapolis

Do you have to wait 6 months to raise your credit line?

Postby ncosky290 » Thu Feb 28, 2013 11:31 am

I just spoke with a Rep from Amex about my low limit and she said they can't look into an increase for 6 months. From what I have read it was 61 days. Have they changed their rules again. Anyone hear this from them as I did?

Nick*
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-


beef.stu
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Joined: Wed Dec 26, 2012 12:03 am
Location: Bay Area

Postby beef.stu » Thu Feb 28, 2013 11:46 am

3x cli 61 days from account opening, and then I believe its 6 months from there on out.

I didnt get the full 3x, but in the end I was still happy
(01/10) - Wells Fargo VISA Platinum
(05/10) - Techron Advantage
(10/12) - Amex BCE
(02/13) - Chase Freedom VISA
(09/13) - Discover It
(03/14) - Sallie Mae WMC
(09/15) - Citi Double Cash WEMC
(09/16) - US Bank Cash+ VISA Signature

MB131174
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Joined: Mon Mar 05, 2012 10:58 am
Location: PA

Postby MB131174 » Fri Mar 01, 2013 9:32 pm

beef is right, 61 days. Even then it's not always a guarantee. I have 3 personal AmEx cards (PRG, but changed to green today, Delta and BCE and also a business gold charge card.) I was declined the 61 day increase, yet AmEx seems willing to give me any new card I want. Nick - hello from a fellow Pennsylvanian. *yinz*
stalk me
KIK: WMB1974

Sevenfeet
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Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Fri Mar 01, 2013 11:22 pm

I'm wondering how much I ask for when 61 days comes up on my Amex BCP. They already gave me $20K when they opened the card. Asking for $60K sounds ridiculous. Maybe $30K or $35K? Are there any metrics on this?
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

sakhalin
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Joined: Thu Jul 05, 2012 6:55 pm
Location: West Coast

Postby sakhalin » Sat Mar 02, 2013 1:56 am

Sevenfeet wrote:I'm wondering how much I ask for when 61 days comes up on my Amex BCP. They already gave me $20K when they opened the card. Asking for $60K sounds ridiculous. Maybe $30K or $35K? Are there any metrics on this?


I heard that AMEX can F/R you for asking above $25k.
AMEX BCE ($20,000), Citi Forward ($6,800), Discover IT ($5,250), BoA Travel Rewards ($1,800)

Sevenfeet
Centurion Member
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Sat Mar 02, 2013 7:59 am

I can survive a financial review from Amex. I had to send income statements to Penfed...I can do the same for them. What is unclear is what kind of metrics they use in order to determine how much credit to extend. I hold a Amex Platinum that at one point last year had $39k on it.

Maybe I'll just ask for $40k. That's an even 2x and not completely out of character with my experience with Amex.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

RonJonson
Gold Member
Gold Member
 
Posts: 37
Joined: Mon Jan 21, 2013 6:03 pm
Location: MI

Postby RonJonson » Sat Mar 02, 2013 8:11 am

Sevenfeet wrote:F/R? Sorry, I don't know that acronym.

Financial review. They'd want to look at tax returns and paperwork of that nature to make sure you can pay back that much money from what I've read about it.
Wells Fargo Platinum - $10,500 - 11/2004
Citi Forward - $5,000 - 10/2012
Chase Freedom - $3,900 - 10/2012
Capital One Quicksilver (Formerly Cash Rewards) - $6,000 - 12/2012
American Express Hilton Honors - $3,900 - 1/2013
Barclaycard Arrival World MasterCard - $5,000 - 11/2013

Sevenfeet
Centurion Member
Centurion Member
 
Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Sat Mar 02, 2013 10:16 am

RonJonson wrote:Financial review. They'd want to look at tax returns and paperwork of that nature to make sure you can pay back that much money from what I've read about it.


My accountant does my taxes (and has for 20 years) and they are nearly ready now. Again, it's not that hard to send them that information if they want more than a pay stub.
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

ncosky290
Centurion Member
Centurion Member
 
Posts: 182
Joined: Tue Feb 12, 2013 7:37 pm
Location: Minneapolis

Postby ncosky290 » Sun Mar 03, 2013 6:19 pm

MB131174 wrote:beef is right, 61 days. Even then it's not always a guarantee. I have 3 personal AmEx cards (PRG, but changed to green today, Delta and BCE and also a business gold charge card.) I was declined the 61 day increase, yet AmEx seems willing to give me any new card I want. Nick - hello from a fellow Pennsylvanian. *yinz*


Hello Back to ya!!! I am wanting to get a BCE card as well to replace on of my crap ones. I think I will wait a year before I ask for another account with Amex. Also want to get a Chase Sapphire as well. Don't know if they would give me a preferred card yet. Either bank for that. I just got a premium card this year. 4 to be exact. Went crazy on apps for 3 weeks. out of the 6 apps i did i got 4. BoA and Citi said no Discover, Chase, PNC, and Amex said yes. How long did you wait until they approved you for a second amex?

Nick*
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-

MB131174
Centurion Member
Centurion Member
 
Posts: 512
Joined: Mon Mar 05, 2012 10:58 am
Location: PA

Postby MB131174 » Sun Mar 03, 2013 9:48 pm

If you wanna private message me I'll tell ya my story in detail. It's long and most here probably won't be interested.
stalk me
KIK: WMB1974



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