Did I get lucky?

For just about anything you want to get off your chest about credit cards.
5 posts
Nd1234
 
Posts: 2
Joined: Tue Mar 03, 2015 11:51 am
Location: Texas

Did I get lucky?

Postby Nd1234 » Tue Mar 03, 2015 11:57 am

So I am 19 years old. I've had a credit card of my own for three months. It is a cabelas club visa with a $1000 limit. I also have a Bank of America freedom card and chase freedom that are on my moms accounts, but I've been an authorized user for a few years. I was looking last night and finally decided to get another card on my own. I applied for the Amex bce and was instantly approved for $2,000. Did I get lucky? Or am I in a good spot for lenders to trust me.

Background info
658 fico on cabelas application
692 fico on Amex application
Student and employed
Have had a checking and savings account for 3 years
Have an apartment rented under my name
That's about it


Nd1234
 
Posts: 2
Joined: Tue Mar 03, 2015 11:51 am
Location: Texas

Postby Nd1234 » Wed Mar 04, 2015 2:26 am

I meant bank of america cash rewards not boa freedom.

Brad Bishop
Centurion Member
Centurion Member
 
Posts: 138
Joined: Sat Jul 12, 2014 7:38 am
Location: Atlanta, GA

Postby Brad Bishop » Wed Mar 04, 2015 8:01 am

I think it's because you've proved yourself a good credit risk, not because they flipped a coin.
:)

You're 19 - just keep your spending in check (don't be stupid) and you'll be well ahead of the others.

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Thu Mar 05, 2015 11:10 am

Brad Bishop wrote:I think it's because you've proved yourself a good credit risk, not because they flipped a coin.

^ This. It's not a matter of luck or chance but risk analysis. It's a good start but keep up the work.

User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3756
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Postby CarefulBuilder14 » Thu Mar 05, 2015 11:42 am

Congrats! I'm not very surprised, though. You might have been a bit of a borderline candidate, but Amex is generally pretty open to customers with a short history.

Keep in mind that a $2k limit is pretty low so Amex is limiting the risk it takes.
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



Return to “General Credit Card Talk”

Who is online

Users browsing this forum: No registered users and 2 guests