New Amex Member -- Question About Credit Limit Increase

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MemberSince14
 
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New Amex Member -- Question About Credit Limit Increase

Postby MemberSince14 » Tue May 13, 2014 10:32 pm

Hello everyone! I'm very excited to say that I've applied and instantly accepted for the Blue Sky card. I chose this card because of the no annual fee and the offer they presented to me.

Because of my excitement i searched online for Amex stories and I came across this website and i said, why not? These members seem like nice people.

Anyways, do you guys have any tips/tricks you wouldn't mind sharing with me. I was told i have the opportunity to increase my line of credit (3x) after the first year but i read on some threads its 61 days? Little confused on that. As of right now my line of credit is 10k (i was shocked!)


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AmEx Bear
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Postby AmEx Bear » Wed May 14, 2014 5:03 pm

Stay off my radar and you'll be fine.
Poke me and I will F/R you

Dman316
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Postby Dman316 » Mon Jun 02, 2014 5:12 am

AmEx Bear wrote:Stay off my radar and you'll be fine.


Agree with this.
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Robrus1
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Postby Robrus1 » Mon Jun 02, 2014 7:19 am

Welcome to the forum. You tell that AmEx bear to chill out, but don't poke him! Your 61st day of Cardmembership is the first day you're eligible for a CLI. Assuming you've paid on time and used your card regularly, a lot of people reoport getting a 3X CLI on or after 3 months. As with any request, nothing is guaranteed and this is not any kind of official rule. I was granted 15K on my BCP and started with a 5K limit, but was denied the same on my SPG. It will depend on your income and current available credit/debt etc. I think I have too much credit for my income, which is most likely why I was denied on the SPG CLI. Hope this helps.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
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Credit Union 10K
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thom02099
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Postby thom02099 » Mon Jun 02, 2014 9:57 am

Eligibility to request a CLI comes at day 61. NEED for increase is speculative. As Robrus1 said, nothing is guaranteed nor any sort of rule. It will depend on factors such as income and current available credit, as well as good payment history. Need for a 3X CLI on a $10K current limit would likely require some sort of justification; additionally, at $25K and above, AMEX may request a financial review.


At other forums, some seem to think it's an entitlement to get a 3X CLI on their 61st day and whine about it when they don't get it. Not saying this is applicable to you, but just be aware that, as you read multiple forums, that this occurs...frequently. Frankly, if you don't NEED it, then why request it? If you do have a need for an increase, being judicious in your request can be beneficial. If you can "get by" with a $20K CL, then ask for it. So many folks seem to think that it's a competitive sport to request CLI!
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jonheaps
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Postby jonheaps » Mon Jun 02, 2014 10:40 am

Hi,

I have my Amex BCE for almost a year now. I am availing their 0% on purchases for 18 months, I still have 5 months left for that offer. At one point I was using about 7k out of 7.5k of my limit. I was always paying on time. Now I have about 1000 left on my account. If I go for 3x increase, will the high usage and and less than 1k still on my card have any effect on the request? I will paying of all the remaining next month. will it increase chances of 3x if wait till I pay off everything? Please suggest how to approach it so I can get maximum limit increase.

Robrus1
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Postby Robrus1 » Mon Jun 02, 2014 11:28 am

jonheaps wrote:Hi,

I have my Amex BCE for almost a year now. I am availing their 0% on purchases for 18 months, I still have 5 months left for that offer. At one point I was using about 7k out of 7.5k of my limit. I was always paying on time. Now I have about 1000 left on my account. If I go for 3x increase, will the high usage and and less than 1k still on my card have any effect on the request? I will paying of all the remaining next month. will it increase chances of 3x if wait till I pay off everything? Please suggest how to approach it so I can get maximum limit increase.


I would definitely pay that off before going for a CLI.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K



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