Surprise Credit Cards :)

For just about anything you want to get off your chest about credit cards.
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Mitch
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Surprise Credit Cards :)

Postby Mitch » Tue Dec 09, 2014 11:06 am

Well, I guess I just got my first surprise. A capital one journey card I applied for back in October, finally was approved, and I got a email saying my card was shipped out yesterday, and to expect it in 2-4 business days.

This was a very big *shock* to me, considering, I just frankly assumed that my application was denied for insufficient credit history. Another thing, surprising to me, was the limit of the little thing.

$300. I assumed I'd be given at-least $500, but $300 is really low. I guess there goes my plan of, buying textbooks and PIF.


Anyhow. Am I the only one, or is Capital One, famous for "Surprise, your getting a card" emails?
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Discover It $500 10/14. Capital One QS Visa $300 02/15, formerly Journey Visa Plat. 11/14.


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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Dec 09, 2014 11:15 am

An automatic CLI is a pleasant surprise. Approval for a card two months after you applied is just weird. Maybe they had to verify some information or confirm your identity, but it's hard to imagine why that would take two months.

It's a $300 student credit card, not a mortgage or business loan.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

darkguy2
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Postby darkguy2 » Tue Dec 09, 2014 11:43 am

I agree that it is not really a nice surprise. That is pretty unusual. If you want to get a good student card you can go for the Discover IT student card. The approval rate is pretty high and they will give you a decent limit starting out. I got $1500 with basically no history. My friend only had a $300 USAA card and got $2000. College really is the best time to get your foot into the door for prime cards.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

Mitch
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Postby Mitch » Tue Dec 09, 2014 11:53 am

I actually applied for a Discover It card on the same day, and got approved. So there's that. $500 Credit Limit, but, imo, that's still pretty decent. I probably will be a lifetime customer, just because I appreciate there customer service, and the fact they took a chance on me.

So, Two Credit Cards. Thin File according to Credit Karma. and a 640 "calculated" L2C Score from Discover. I guess I could be doing worse.
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Discover It $500 10/14. Capital One QS Visa $300 02/15, formerly Journey Visa Plat. 11/14.

popamode72
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Postby popamode72 » Tue Dec 09, 2014 3:33 pm

Out of all the student cards that I did have, my Citi Forward, my first credit card, had the highest starting limit at 1K. All the other ones including the Journey and Discover It were 500 starting limits. Discover It for Students is a fine card and all but they're just not really interested in my business as much as others here.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

Ghoshida
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Postby Ghoshida » Wed Dec 10, 2014 1:12 am

It's been a while but my Citi Dividend card was a student card. I had applied for it around Feb 2013 and the app page told me that they couldn't give me a card then. About a month later I received the card with $2k limit (matching my UFCU card limit).

I did not receive the "spend $500, get $100 bonus" offer that was open to non-student cardholders at that time. However I did get 7 month 0% APR. This was with approx 6 months of history.

Since then, my longest wait has been on the Cash+ card (9 days).
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

Brad Bishop
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Postby Brad Bishop » Wed Dec 10, 2014 6:28 am

The $300 and $500 limits, even on a student card, seem really low to me.

My first card in 1988 (Citibank Visa, I think) was $500 and that was when I was making $4/hr. It seemed far more in line, to me. I could buy something and pay it off over time (the traditional use of credit cards).

$300 in today's world where credit cards are more everyday use (gas, food (McDonalds), groceries, etc) seems really low and makes me think that a college student would top that out in 2 weeks. I'd think $1000-1500 would be more appropriate as a starter card.



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