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Friend and I got same credit card.

B

BlancoNino

Diamond Member
and she has no credit history at all. I have no bad credit. She was approved for a $500 limit and I was approved for $400. Why?
 
you have an actual income and established credit and all you could swing was a $400 limit? What card is this?
 
PWNED.

Not sure why 😛

When I walked into WAMU today to make a deposit, the lady said I was pre approved for a credit card 😉
 
So what? Call them up and tell them to raise your limit.

And of course that credit card will be used for emergencies, correct?
 
I have no bad credit
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You have no bad credit, chumley, or do you have no bad credit that you know of? I'd check all three agencie's reports on you, I'm willing to bet you're going to see a surprise or two.

If there's really nothing in them, then call them up and explain your situation. 400 bucks is what people who've had bankruptcy twice and make their living selling hippie beads get.
 
I just ran a credit score check and my credit score is 709. Is that bad? Also, I just asked for a line increase up to $1000 in case I need to pay my tuition and mom and dad can't help out a little in time and I'm in trouble or something. They declined any raise in my credit line. This is a Chase Visa card.

 
Next time you apply for a credit card, put down your income plus your parents, problem solved. This is what I did and never encountered any problems and it's more or less true since if i ever encountered a problem my parents would help pay the bill.
 
I just ran a credit score check and my credit score is 709. Is that bad? Also, I just asked for a line increase up to $1000 in case I need to pay my tuition and mom and dad can't help out a little in time and I'm in trouble or something. They declined any raise in my credit line. This is a Chase Visa card.
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709 and they wouldn't give you more than 400 bucks? Dude, screw them. Get a Platinum card from Bank of America, they'll give you a credit limit of 2 grand minimum. 709 isn't spectacular but it's a long ways from bad.
 
Originally posted by: Mo0o
Next time you apply for a credit card, put down your income plus your parents, problem solved. This is what I did and never encountered any problems and it's more or less true since if i ever encountered a problem my parents would help pay the bill.
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Except that it's fraud, but that's ok apparently.

However, you can put your roommate's income(s) down if it says "total household income". I had 7 roommates in a huge house in college, ended up putting down approx $90k total household income, which was accurate. Needless to say I was approved for ~5k initially instead of this crappy $400 stuff. That 5k quickly increased to 30k, by my senior year i think.
 
Originally posted by: BlancoNino
and she has no credit history at all. I have no bad credit. She was approved for a $500 limit and I was approved for $400. Why?
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There's more to this story than meets the eye.

BTW, both are noob limits. Being a female, it would stand to reason that she is probably more responsible with money, unless she has TBWC (typical black woman credit) 😉
 
I had the exact same thing happen with Chase (though it was about 17-18 years ago). I was out of college with a minimal credit history, but was making decent money with no debt. They sent me a "preapproved for $x000 credit line", and when I got the card it had something like a $500 limit. I was so ticked off I called and cancelled it and refuse to ever do business with Chase again.
 
Originally posted by: SearchMaster
I had the exact same thing happen with Chase (though it was about 17-18 years ago). I was out of college with a minimal credit history, but was making decent money with no debt. They sent me a "preapproved for $x000 credit line", and when I got the card it had something like a $500 limit. I was so ticked off I called and cancelled it and refuse to ever do business with Chase again.
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lol, you had better options available at the age fo 18?
 
I wouldn't deal with Chase again, not after they raised the interest rate on my card to 29.24%. I transfered most of the balance off to another card and this month's payment will be the last, then I cancel the account.
 
Originally posted by: Bateluer
I wouldn't deal with Chase again, not after they raised the interest rate on my card to 29.24%. I transfered most of the balance off to another card and this month's payment will be the last, then I cancel the account.
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If the card has no annual fee, keep it open. Use it to buy a pack of gum every 6 months. The card is most likely helping your average credit age (unless you just got it recently).
 
Originally posted by: BlancoNino
and she has no credit history at all. I have no bad credit. She was approved for a $500 limit and I was approved for $400. Why?
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LOLOL you have established credit and higher income, and they gave you a limit of $400? My very first CC i had a $2k limit... but i didn't get a CC until i got into university, and once they find out you're in university, they throw CCs at you.
 
Originally posted by: Looney
Originally posted by: BlancoNino
and she has no credit history at all. I have no bad credit. She was approved for a $500 limit and I was approved for $400. Why?
Click to expand...

LOLOL you have established credit and higher income, and they gave you a limit of $400? My very first CC i had a $2k limit... but i didn't get a CC until i got into university, and once they find out you're in university, they throw CCs at you.
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thats true. i can't get by a single week week without receiving one credit card offer or another. but then again i have exceellent credit on my BoA secure card (which btw has a 500 limit). i say get a nice BoA credit card. they put out nice high limits.
 
My theory is, if in the eyes of the credit card company you are likely to pay your bills late and not in full (therefore incur late fees, and interest rates) you are given a higher limit... since they can make a lot more money on you. On the flip side, if you seem like a responsible money making person, you will not use all your limit, you will pay in full and on time, therefore the credit card company doesn't may a lot of money off you (if any).
 
One of the known tricks is to apply for the cards that tend to give higher limits. Amex is known to give good limits, and allow you to raise it quite frequently and without a credit check.

Then, other creditors see your Amex limits and either grant you increases, or grant you higher starting limits when you apply for new cards.

About 6 months ago I had 3 cards with a total limit of around $2.5k. Now I've got 18 cards with a total limit aroun $60k (15 of those cards sit around doing nothing, I buy a small item with them every 6 months or so to keep them active).
 
Those are typical student credit card limits for Chase. I got a Chase MC with a $500 limit in college that has a $25,000 limit now.
 
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