Bad credit history, but got large limit on new card

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Credit Noob
 
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Bad credit history, but got large limit on new card

Postby Credit Noob » Wed Aug 17, 2016 10:33 am

I have a long and complicated credit history.

In the late 90's to mid 2000's I was riding the internet wave and maintained steady employment in the industry. I took out a couple of credit cards eventually ended up with an Amex Gold card which I was quite proud of.

Then came the bust...and by bust I mean more than the internet industry. I was laid off from a six figure job and started working jobs in the mid $50000 range. I kept paying the cards and never had a late payment.

Then I had some marital issues. Bad ones. One thing led to another and I ended up following my wife overseas in an attempt to save our marriage. When we left I had every intention of maintaining my credit cards and paying off the balances (in the $25,000 range). But one thing lead to another and I ended up just ignoring my balances and withdrawing from society.

I was overseas for 9 years and only the occasional collection letter made it to my hands. Last year we decided it was time to move home because the kids will be going to college soon. We moved back to the US in May and by August I was receiving credit card offers! I thought someone must have made a mistake by offering me a card but I applied anyway for a Chase Freedom card.

By some miracle I was approved...with an $11,000 limit. What gives? Why would someone who disappeared from Western Civilization, and who skipped $25,000 in debt and then had no credit activity for 9 years be offered a card with an $11,000 limit?

Mind you I am not complaining and I am meticulously maintaining good standing with Chase, but I was reading a post here about average credit limits and was shocked to read that my limit is double what most people get.


9Cline
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Re: Bad credit history, but got large limit on new card

Postby 9Cline » Thu Aug 18, 2016 11:10 pm

Well welcome back to civilization and the Chase family...
One reason you got another card could be that bad debt only stays on our files for 7 years in the US...Probably should check your credit file too make sure some old stuff don't crop up now that u back...JM2CW ..
Best of luck 2 ya !!!!!!!!!!!
LOWES, DISCOVER-iT, MACY'S-AMEX PREMIER ELITE, AMEX-EDP, CHASE FREEDOM VS, AMEX-BCP, CITI-DC WEMC, JCP-PLAT MC, BELK ELITE, CITI BESTBUY, CHASE SAPPHIRE , HOME DEPOT :beat:

charged
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Re: Bad credit history, but got large limit on new card

Postby charged » Thu Sep 08, 2016 9:55 pm

9Cline wrote:Well welcome back to civilization and the Chase family...
One reason you got another card could be that bad debt only stays on our files for 7 years in the US...Probably should check your credit file too make sure some old stuff don't crop up now that u back...JM2CW ..
Best of luck 2 ya !!!!!!!!!!!


It's really that simple? Maybe I should do that then. If the economy gets any worse maybe I'll do just that. I'll Get approved for about 5 more cards over time now when I have a high current credit score so they aren't suspicious. Then I max them all out with expensive stuff, and cash advances and then disappear to Europe with the money and not look back hahaha.

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17thWhitePrince
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Re: Bad credit history, but got large limit on new card

Postby 17thWhitePrince » Thu Sep 08, 2016 11:35 pm

Here's a thought . . .

Perhaps your "credit history" is intertwined with that of someone else's ..haha
Let's hope that's not the case tho.. however,



..anyways, CONGRATS!!
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| EX 757 | TU 755 | EQ 745 | Total Credit Limit is $40,350

Only c/c not shown is 'ArtVan' which will be cancelled once it is paid off by Feb 2018

Future Possibilities - the Discover It card

9Cline
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Re: Bad credit history, but got large limit on new card

Postby 9Cline » Fri Sep 09, 2016 3:57 pm

Unfortunately there are some that do just skip out on debt,the forces that be are already trying to make it more difficult to do bankruptcy,etc.. sad for the legitimate folks but then there are those that abuse the system as usual, right now the 7-10 yr fresh start is a chance to hopefully not make the same mistakes...
One day we may go back to having debtors prisons,I hope not but won't be surprised...
LOWES, DISCOVER-iT, MACY'S-AMEX PREMIER ELITE, AMEX-EDP, CHASE FREEDOM VS, AMEX-BCP, CITI-DC WEMC, JCP-PLAT MC, BELK ELITE, CITI BESTBUY, CHASE SAPPHIRE , HOME DEPOT :beat:



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