The form to ask for a CL increase has changed. It used to be that you either got an instant increase or you got a for that explicitly stated a hard pull will occur. Now you get a simple form that asks for the increase you want and your income but abstracts on whether there is a hard pull or not. I have been reluctant to try it for concern of a hard pull. So I wondered if anyone did try and whether you can still get the instant increase now.
Derffie said:I did it 2 days ago.. and asked to be increased from $12K to $20K .. instant approval.. additionally a confirmation letter arrived today as well.have you checked your reports to determine if it is a hard pull?
Derffie said:I did it 2 days ago.. and asked to be increased from $12K to $20K .. instant approval.. additionally a confirmation letter arrived today as well. I too went from 12k to 20k and received the written confirmation today.
There is no disclaimer or "I authorize AMEX to review my credit report" message, so if you wanted to sue over a hard pull, I would image that you would win.
Yup. I hope all the people who get hit with FRs come back to post, so that we get an idea of what the threshold is that will trigger it on the new CLI system.
As for me, I played it safe and asked for a measly $1400, just to make my CL a nice round # . Will wait and see how it pans out for everyone else before I ask for more.
I'm not sure if I had requested a CLI from AMEX in the ~3 years that I've been a cardholder until now:
Previous CL: $3600 Requested CL: $7000, approved
I think they started me off with $500 (Blue for Students) on a very short credit history. I expected to get turned down for this CLI request since they bumped my CL from $2500 to $3600 a month ago.
I think this is similar to the old one, they just changed the semantics so that you have to ask for X to get it, rather than offering it to you. Although given the magnitude of increases reported thus far, perhaps it just uses a very generous formula that takes into account your income, credit score, and past history.
More importantly- has anyone been denied at all? (I went from 10500-13500) didn't want to push it since this line is 11months old and started at 2k
Should I be concerned that I got an email stating:
Dear HKnight,
Thank you for your recent request for a line of credit increase on your American Express̉ Card Account.
We are currently processing your application.
You will be receiving additional communication regarding your application.
Thank you for applying with American Express. Does this mean my electronic approval is subject to human review, or is this just their standard form? The computers already increased my CLs.
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
. Will wait and see how it pans out for everyone else before I ask for more.
