Re: WTF Blue from AMEX??? zb- you missed my point. It's not utilization that they're looking at (I think) ... it's total $ available credit. _IF_ you maxed-out, what would your DEBT to INCOME ratio be?? I.E. - let's say you have $200k in available credit, and if it were all used you would have minimum monthly payments of approx. $4k. Add your mortgage or housing expense to that (assume $1500 PITI for this example) and that's $5500/month divided by your monthly income ... unless you make $15k per month (180k/yr) you would exceed 36% total debt to income which would set-off yellow lights. Based on my conversations with Amex people, they look very hard at open but unused credit and ask the question "why do you need more?" I've even had one rep tell me point blank - close a couple of other cards out, then ask for the increase. I asked if that was a guarantee, and he couldn't. -mj
Re: WTF Blue from AMEX??? I believe this is the point.I have 85% of my total available credit unused and AMEX is probably wondering why I need more credit. Thanks mj!!!
Re: WTF Blue from AMEX??? "Amex is probably wondering why I need more credit" Would they understand this answer: I don't. But a higher limit will help my credit score. I want to use your card extensively, and if I charge a high balance, I don't want it to look as if I am utilizing my entire credit line. Probably not. But isn't that the real reason many of us seek higher lines? Not because we want more debt, but because of FICO. I didn't read all the posts here carefully or else I probably would not have gotten an AA World card. I didn't realize that they wouldn't report my limit, since Citi always has in the past. They've taken a page from Cap 1's book and my paranoid mind makes me think the reason is they know it can hurt our scores. That in turn, might limit the other offers we receive and help monopolize their best customers. The only solution is to pay the darn thing off before it cycles.
Re: WTF Blue from AMEX??? I think I am going to put my Blue into sock drawer.That's what they deserved...ignorance...keep it open but don't use it for a years and see what's gonna happen...
Re: WTF Blue from AMEX??? I don't think Amex is trying to keep scores low - it wouldn't fit with how they operate -- - Higher level (more affluent) customer - Manual review of CBR vs. purely score driven - Desire to cross-sell other financial (investment) products Sorry to beat a dead horse, but think like a lender. __IF__ you charged everything up to the max (you could, nothing is stopping you) that's a HUGE exposure. What if someone stole your identity and went on a 30 day binge? The larger the limit, the larger the exposure. Think - for a second - like a lender. What's the risk/reward tradeoff? If your balances are low, you aren't a heavy revolver, so the interest potential is probably also low. Worse- if you look like a "rate surfer" - then you may only generate negative return. It would be interesting to see what a profitability score model looks like in your situation. The income that could be generated from your increased credit limit may not be worth the added risk. -mj
Re: WTF Blue from AMEX??? Dear mj We all know- there is no profit or income without risk.If Amex choosed not to have risk with me it's their problem...not mine.BTW I did not ask for CLI because I really need it.I asked just because let's say IT IS ALWAYS NICE TO SEE HIGHER CREDIT LINE.
Re: WTF Blue from AMEX??? I think sometimes negative reactions to "rejection" are self-defeating. I have had similar reactions in the past, and followed through with my initial thoughts, and it never got me anything I wanted. I think mj is right. Although it feels bad to be turned down, I have learned to let the initial negative reaction go, and give it some thought when I have calmed down - what is it they want? ...what do they see that they don't like?... That's what we discuss on here. We have to use our experience to better our situations, IMO.
Re: WTF Blue from AMEX??? It's all business -- and if one company doesn't treat you the way in which you want to be treated -- give 'em hell and find one that does. How we are treated does vary a lot - some people LOVE Amex, others have had nothing but trouble with them. Many hate Providian,some love them. I'm a Fleet fan - probably one of 2-3 people on here who are. Good luck and higher limits to 'ya -- mj
Re: WTF Blue from AMEX??? Sorry to rock your world-- Check out this link: http://www.bankrate.com/brm/news/special/19990903.asp A bad deal for consumers: Lenders hide data to hoard 'best' customers Yes. Hard to believe as it is. Credit card companies don't want other companies to steal their best customers. Simple economics.
