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Regular Contributor
broseph23
Posts: 150
Registered: ‎09-09-2012

Re: When to go for AMEX BCE? [Student[

[ Edited ]

I hope you didn't use that 40000 of grants and scholarships as income on your application. That is NOT considered income by any means, especially the IRS. Money from grants and scholarships goes directly to paying for education. 

Age: 22 | FICO: TU 739, EQ 736, EX 716 | FAKO: TU 751, EX 772 | Garden: 4/14 | Total History: 3yr 11mo | AAoA: 2yr 1mo | Util: 3%
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Contributor
sergi0wned
Posts: 90
Registered: ‎06-27-2013

Re: When to go for AMEX BCE? [Student[


broseph23 wrote:

I hope you didn't use that 40000 of grants and scholarships as income on your application. That is NOT considered income by any means, especially the IRS. Money from grants and scholarships goes directly to paying for education. 


Fortunately I did not. I included the full salary from my job, as well as the support that my parents and relatives give me.

20 years old | 4 Cards in my wallet | TU (3/28/14) 743
January 2013 - 1st Financial Bank USA Platinum VISA ($500 --> $1,500)
June 2013- Discover IT Student ($1,500 --> $1,800 --> $2,100), Citi Forward Student ($1,500 --> $2,900)
December 2013 - Macy's American Express ($1,000 --> $3,000)
February 2014 - American Express Blue Cash Everyday ($3,000), Chase Freedom ($2,000)
April 2014 - Sallie Mae MasterCard ($3,800)
Frequent Contributor
chwebb1
Posts: 492
Registered: ‎10-11-2013

Re: When to go for AMEX BCE? [Student[


sergi0wned wrote:

Transmogrifying_Bee wrote:

sergi0wned wrote:

OMG! I just applied and was instantly approved! I finally feel like I've "made it" in the credit world! :smileyvery-happy: :smileyvery-happy: :smileyvery-happy:

 

Thanks for the support guys!


Congratulations on your approval for the Amex BCE card!  And what a nice feeling it must be to start the Amex "Member Since" clock at such an early age!  Good luck on your future X3 CLI attempts.

QUESTION:  Can you tell us what initial CL Amex gave you, on a "student income?"  Thanks!


Thank you to you and everyone else! I can't believe that I have an Amex at 20! I look forward to many years of business with them.

 

I received a $3,000 CL. I was SHOCKED, and when I called the guy on the phone said that it was very rare and impressive to see such a high limit at a young age. I'm thinking that they may have been trying to compete with my Citi Forward ($2,900 CL), but other than that I can't really understand how I got such a high limit with a student income and other credit cards.


Congrats on your great CL! I love AMEX, they're so generous. I'm also a graduate student, and have around $14,000 in income (my AMEXs are in my sig).

 photo NUS000000012_160X101_STRAIGHT.gif photo NUS000000180_160X101_STRAIGHT.gif photo ScreenShot2013-10-12at111542PM.png photo DISCOVER_IT_LG.gif photo 8BEB_SIGNATURE_VISA_CASH_REWARDS_190x124.jpg photo HNY2HNY2.png photo bankamericard-better-balance-rewards-credit-card-small.png photo SLM2SLM2.png
$5000 ............ $4300 ............ $4000 ............ $2750 ............ $2500 ............ $1000 ............ $1000 ............ $1000
In the Garden until at least January 2015 (hopefully).
Frequent Contributor
FastForward
Posts: 372
Registered: ‎07-20-2013

Re: When to go for AMEX BCE? [Student[

Congrats on your new AmEx, OP!  Treat it well & that $3k will grow exponentially!  :smileyhappy:

AmEx PRG (NPSL) | AmEx BCP (10k) | AmEx Blue Cash (1k) | AmEx SPG (3.5k) | Barclay Arrival WMC (7.5k) | Barclay Sallie Mae (1.5k) | Cap1 QS (2k) | Chase Freedom (1k) | Discover IT (4.5k) | InTouch (Local) CU MC (5k) | InTouch (Local) CU LOC (25k)

Citi/Best Buy (AU) (1.5k) | Citi/Best Buy (7.5k) | Comenity/Crate & Barrel (4k) | Comenity/Restoration Hardware (9k) | GE/Ethan Allen (2.5k) | Synchrony Bank/Banana Republic (3.3k) | Synchrony Bank/Gap (3.3k) | Synchrony Bank/Walmart (3.3k)

myFICO scores ~ 691 (EQ) 670 (EX) 712 (TU) || Goal scores: 750+ (all 3)
Senior Contributor
alvon123
Posts: 5,645
Registered: ‎09-24-2013

Re: When to go for AMEX BCE? [Student[


sergi0wned wrote:

OMG! I just applied and was instantly approved! I finally feel like I've "made it" in the credit world! :smileyvery-happy: :smileyvery-happy: :smileyvery-happy:

 

Thanks for the support guys!


congrats

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New Contributor
franzschubert
Posts: 55
Registered: ‎01-16-2014

Re: When to go for AMEX BCE? [Student[

Congratulations and I am so impressed! I  have a HS Jr that is doing early decision next October (1st pick is Duke, 2n Harvard - Pre-med/Pediatrics)..no booing from the gallery! :smileyhappy:

And I have to say knowing how hard he has worked and is doing unbelievably well and hoping for scholarships and grants and mostly how proud I am of him, I am so impressed and know that you have worked hard for both and your family must be Extremely Proud of you!

 

Again, Congrats on the Amex, but especially on the hard work you are doing!

Contributor
sergi0wned
Posts: 90
Registered: ‎06-27-2013

Re: When to go for AMEX BCE? [Student[


franzschubert wrote:

Congratulations and I am so impressed! I  have a HS Jr that is doing early decision next October (1st pick is Duke, 2n Harvard - Pre-med/Pediatrics)..no booing from the gallery! :smileyhappy:

And I have to say knowing how hard he has worked and is doing unbelievably well and hoping for scholarships and grants and mostly how proud I am of him, I am so impressed and know that you have worked hard for both and your family must be Extremely Proud of you!

 

Again, Congrats on the Amex, but especially on the hard work you are doing!


Thank you very much! I appreciate your kind words. Best of luck to your child with the college applications. They're definitely stressful, but they pay off! 

 

20 years old | 4 Cards in my wallet | TU (3/28/14) 743
January 2013 - 1st Financial Bank USA Platinum VISA ($500 --> $1,500)
June 2013- Discover IT Student ($1,500 --> $1,800 --> $2,100), Citi Forward Student ($1,500 --> $2,900)
December 2013 - Macy's American Express ($1,000 --> $3,000)
February 2014 - American Express Blue Cash Everyday ($3,000), Chase Freedom ($2,000)
April 2014 - Sallie Mae MasterCard ($3,800)
Established Contributor
efranklin23
Posts: 1,525
Registered: ‎11-14-2013

Re: When to go for AMEX BCE? [Student[


sergi0wned wrote:

broseph23 wrote:

I hope you didn't use that 40000 of grants and scholarships as income on your application. That is NOT considered income by any means, especially the IRS. Money from grants and scholarships goes directly to paying for education. 


Fortunately I did not. I included the full salary from my job, as well as the support that my parents and relatives give me.


Be very careful reporting this on income as it not something you consistenly get every year. Alot of times people have a hard time proving this and can be a problem.


$13.5K$7.5K5.5K$9K$5K500
EQ-665 TU-680 EX-705 (as of 5-20-14)
Contributor
sergi0wned
Posts: 90
Registered: ‎06-27-2013

Re: When to go for AMEX BCE? [Student[


efranklin23 wrote:

sergi0wned wrote:

broseph23 wrote:

I hope you didn't use that 40000 of grants and scholarships as income on your application. That is NOT considered income by any means, especially the IRS. Money from grants and scholarships goes directly to paying for education. 


Fortunately I did not. I included the full salary from my job, as well as the support that my parents and relatives give me.


Be very careful reporting this on income as it not something you consistenly get every year. Alot of times people have a hard time proving this and can be a problem.


Shoot, now I'm worried. Is there anything I can do now?

20 years old | 4 Cards in my wallet | TU (3/28/14) 743
January 2013 - 1st Financial Bank USA Platinum VISA ($500 --> $1,500)
June 2013- Discover IT Student ($1,500 --> $1,800 --> $2,100), Citi Forward Student ($1,500 --> $2,900)
December 2013 - Macy's American Express ($1,000 --> $3,000)
February 2014 - American Express Blue Cash Everyday ($3,000), Chase Freedom ($2,000)
April 2014 - Sallie Mae MasterCard ($3,800)
Established Contributor
efranklin23
Posts: 1,525
Registered: ‎11-14-2013

Re: When to go for AMEX BCE? [Student[


sergi0wned wrote:

efranklin23 wrote:

sergi0wned wrote:

broseph23 wrote:

I hope you didn't use that 40000 of grants and scholarships as income on your application. That is NOT considered income by any means, especially the IRS. Money from grants and scholarships goes directly to paying for education. 


Fortunately I did not. I included the full salary from my job, as well as the support that my parents and relatives give me.


Be very careful reporting this on income as it not something you consistenly get every year. Alot of times people have a hard time proving this and can be a problem.


Shoot, now I'm worried. Is there anything I can do now?


I say go for it as it's a student card but just beware. If they ask you about it, you may need to get your parents to write a letter or some kind of contract (or even FAFSA form) showing their support to you. just make sure you tell them you're a student and you should be ok.


$13.5K$7.5K5.5K$9K$5K500
EQ-665 TU-680 EX-705 (as of 5-20-14)

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