Did I get lucky?

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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
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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
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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.

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CarefulBuilder14
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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.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG, Prestige (retention)
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
SD with activity alerts, might close: Arrival and Brooks Bros

Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH



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