Amex credit limit to salary ratio?

CreditCardChris

6 months ago I applied for my first amex card and got approved with a £6k limit. I've had the card for 6 months and never missed a payment. I want to ask for a credit limit increase and just wondered if amex puts thresholds on how much credit you can have in relation to your income.

So they won't give you more than 20% of your annual salary or whatever, even if you have years of on time payments etc, like it's an amex policy kinda thing.

YorkshireBoy

Income isn't the only criterion used in the decision making process. You didn't think it was did you?

Ben8282

It doesn't quite work like that.
Why exactly do you need a credit limit increase on this card?

CreditCardChris

YorkshireBoy wrote: »

Income isn't the only criterion used in the decision making process. You didn't think it was did you?

No of course not, that's why I asked if they have some kind of policy.

IE you could be an amex customer for 10 years, never missed a payment and always be responsible with your limit but if you ask for a credit limit increase they'll say no because you're already at your max limit to income ratio or whatever (if they even have one).

[Deleted User]

Who knows?
Apart from Amex - but they won’t disclose such information.

Ben8282

CreditCardChris wrote: »

IE you could be an amex customer for 10 years, never missed a payment and always be responsible with your limit but if you ask for a credit limit increase they'll say no because you're already at your max limit to income ratio or whatever (if they even have one).

Never heard of this reason for credit limit increase refusal.

maxximus75

I believe CLI's are done on internal scoring (unless you are asking for a large increase which may include a hard credit search).


You can request a limit increase using your online account and usually get an instant decision.

LobsterMemory

Amex have given me 2 unsolicited increases within my 1st year, the second taking me past the made-up income threshold so guess that the OP will just have to accept that Amex don't like him

moneywow1

If they do it's definitely not below 40%

JohnMl88

Same here op, amex gave 8k 6 months ago, but I have never needed more than 1.5K ish so I don’t think amex will increase my limit

jasdev

How Amex determines credit limit increases is a complete mystery. I applied for my first when I felt I'd finally started earning a comfortable amount, and they gave me a reasonable limit, but nothing staggering. Then every three months since, twice now, they've offered to increase it, such that it's now 3 times what it was originally. I've never said no! But I will not spend on it without a plan for how to pay it off in full when the direct debit is due.

I think the most risky thing is the bonus Rewards points (or Companion Voucher, if you have one of their British Airways' credit cards) which you receive if you manage to spend a certain amount within 12 months, each year; I can see how people could be driven to make unnecessary purchases in order to hit the target each year. Even I feel the pressure...