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American Express Credit Line Increase Returns
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Back in late 2009, I shared a tutorial for how to increase your line of credit on an American Express credit card. As the credit crisis intensified, American Express removed that option from the account management screens – leaving many without a way to request an increase online. Well, the hawks at Fatwallet have reported that the option has returned!
The original tutorial still works (the menus are slightly different but you get the idea) and the original advice of “don’t be greedy” still applies. Don’t request very large increases (keep your limit under $25,000 and don’t make a large jump) and don’t request one too often – no more than once every six months. You should get an automatic increase, if all goes well, or a message that says you will be contacted for financial review (that’s bad).
Why would you want to request credit line increases? It reduces your credit utilization and can mitigate some of the negative effects of canceling other credit cards.
Since my limit is above the $25,000 threshold, and mostly because I don’t need more credit, I haven’t bothered using it.
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won’t their checking your credit bureau lower your FICO score?
If there is no downside to increasing the credit limit, why doesn’t AE just up everyones credit limit? Does someone know?
Also how does this effect one of the card is stolen and used up to the high limit?
Bill Snider
No downside for the cardholder is not the same as no downside for AE (e.g., more money at risk if you default).
I don’t think they necessarily check the FICO score / credit report. I just requested an increase and it was approved instantly. I mean instant.. click.. approved. But it might vary depending on the situation or the lender.
A higher limit won’t change the liability for fraud. If the card is stolen you are protected against fraud. Cardholder liability is maxed at $50 for a physically stolen or lost card or $0 if they just get a hold of your number somehow. So higher credit limit won’t change your liability.
Thanks for the tips. Click = $14,000 -> $18,000
thank you! it probably would have taken me some time to take note of this.
I wish Chase had an easy online way of doing this. I still call in to ask every so often, but this would be even easier.
The last time I did this they called me for additional information. After two minutes of painless questions the lady on the phone said “let me see what I can do for you” and came back with a credit limit increase double what I was asking for. Just noting that financial review might not be that bad.
FYI, here’s the way to get to the request form in the updated website:
- Log in.
- In the menus near the top of the page is “Customer Services” — click “See all Customer Services Options”.
- On that page, click the “Account Management” button/tab.
- Near the bottom of the list will be the “Credit Management” section, with an “Increase your Line of Credit” link.
Its not there anymore. The only options I see are:
Credit Management:
Check the status of a Balance Transfer
Check Recent Declines
Does this mean its disappeared again?
No, that means this page is discussing personal cards and you are looking at the account management page of a business amex.
I’m going to check that out, although i don’t think i need more credit right now. Back in 2008 at the height of the economic crisis, i applied for more credit on my B of A card and the guy i talked to put e through the wringer. I’ve never had such a difficult time getting a limit increase.
I currently have a Amex Plum card that has great service and 1 1/2% cash back on everything. It was 2% until recently.
I am not able to find it on new website.
Can anyone please let me know how I can apply for increase in line of credit on new website.
I tried doing it online but I think they removed that option.
If its still possible to request credit line increase online, please let me know.
Thanks
The most UN American credit company. Loyalty in terms of years and paying more than minimum = Credit Lin DEcreased.
Same thing happened. Never missed a payment with AMEX. While going through my foreclosure, made only minimum payments for one year, then paid off my balance. As soon as I finished paying off my balance, AMEX reduced my credit 80% Wow, the rejection felt was unbelievable. I guess I turned into a bad risk even though I paid in full.