Best way to a $25k limit?

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onion
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Postby onion » Fri Aug 22, 2014 10:34 am

semistatic wrote:Their CC dept seems to pull EQ for almost everyone that I've seen talk about it. If you're eligible for them, they're very generous, and there are quite a few discussion threads on other forums on tricks for the SP CLI. Basically, after you've had the card for a bit, you can request a CLI for $25K, and they'll (probably) SP you and counter offer if they can't get you there yet. You can repeat that every so few months. $25K is their max w/o going through underwriting review, submitting POI, etc.

I think they just ask about income, not assets. Membership eligibility is the tricky part though - have to be active/retired military/DoD, or a family member of a member. (Retired is the keyword there - not just honorably discharged)


25k per card is correct, but don't forget about the 35k across all cards.
FICO TU - 728 - 8/14
FICO EX - 716 - 7/14
FICO EQ - 740 - 7/14

Bank of America Cash Rewards - $2,400
Best Buy - $3,000
American Express Blue Cash Everyday - $8,000
American Express Everyday - $10,000
Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)
American Express Platinum - NPSL
Barclaycard Arrival+ - $3,000
Capital One Yamacard - $11,000


Battery111
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Postby Battery111 » Fri Aug 22, 2014 10:40 am

semistatic wrote:Their CC dept seems to pull EQ for almost everyone that I've seen talk about it. If you're eligible for them, they're very generous, and there are quite a few discussion threads on other forums on tricks for the SP CLI. Basically, after you've had the card for a bit, you can request a CLI for $25K, and they'll (probably) SP you and counter offer if they can't get you there yet. You can repeat that every so few months. $25K is their max w/o going through underwriting review, submitting POI, etc.

I think they just ask about income, not assets. Membership eligibility is the tricky part though - have to be active/retired military/DoD, or a family member of a member. (Retired is the keyword there - not just honorably discharged)


Another "in" I believe is if you have a roommate who's a member. I want to say if you live with somebody who is already a member they can confer membership to you. Once you're in, you're in though.
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TheSwarm
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Postby TheSwarm » Fri Aug 22, 2014 11:46 am

Actually when I purchased my last car it was a Friday evening after banks were closed. I asked them to max out my AMEX BCE on the down payment ($6,900) and they said sorry we can only put $2,000 on a credit card.

Then I told them that I can't take the car because there is no way I can get an ATM to give me that kind of money right now. The guy said hold on, and after all was able to do it.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 22, 2014 12:01 pm

semistatic wrote:Membership eligibility is the tricky part though - have to be active/retired military/DoD, or a family member of a member. (Retired is the keyword there - not just honorably discharged)


My eligibility would be through a now-deceased grandfather who technically was a contractor in WWII, even though he was later legally declared a veteran (a Merchant Marine during combat). I called NFCU and the CSR I spoke with said it would most likely count but I'd need documentation. I won't be around any of the supporting records for a few months, though, so it will have to wait a bit.

Edit: An Amex FR would be easier! On the other hand, some of his other descendants might like NFCU membership, too, so I'll definitely look when I get a chance.
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takeshi
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Postby takeshi » Fri Aug 22, 2014 1:13 pm

CarefulBuilder14 wrote:I know that may be too much to ask with a short credit history.

This. Limits are based on your credit and income. You can't just rely on the creditor. You'll have to build to get to $25K. If your credit supports it you can request up to a 3x CLI on your AmEx after 61 days.

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CarefulBuilder14
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Postby CarefulBuilder14 » Fri Aug 22, 2014 1:20 pm

With the 3x/61st day business, do I have to do it exactly on the 61st day to prove myself as some sort of Amex 'secret insider / in the know' customer? Or the 61st day is simply the earliest they will consider a limit increase? Is the 68th or 82nd day just as likely to succeed, or is there something really special about the 61st day?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

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onion
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Postby onion » Fri Aug 22, 2014 6:07 pm

CarefulBuilder14 wrote:With the 3x/61st day business, do I have to do it exactly on the 61st day to prove myself as some sort of Amex 'secret insider / in the know' customer? Or the 61st day is simply the earliest they will consider a limit increase? Is the 68th or 82nd day just as likely to succeed, or is there something really special about the 61st day?


Any after the 60th day is fine, its just that we're very eager to get our CLIs and we know that the earliest we can possibly get one is on the 61st day. The 68th and 82nd day would have the same likeliness, provided that your credit report is identical on those days. AmEx bases their CLIs on their latest soft pull from your account, so make sure that your balances are low and that you've made your payments etc.
FICO TU - 728 - 8/14

FICO EX - 716 - 7/14

FICO EQ - 740 - 7/14



Bank of America Cash Rewards - $2,400

Best Buy - $3,000

American Express Blue Cash Everyday - $8,000

American Express Everyday - $10,000

Discover It Chrome - $500 (AU on fiancée's card, helping her build credit)

American Express Platinum - NPSL

Barclaycard Arrival+ - $3,000

Capital One Yamacard - $11,000



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