10-12-2012 03:39 AM
I got a preapproval in the mail for the First National Bank of Omaha for an Amex card. I thought I would give it a shot and gave them my information on Monday. I then read that they were very conservative and not a fan of recently opened accounts so I have been nervous and not really expecting them to approve me. I just checked my status and this is what it said
Your application was approved on 10/11/2012 with an initial credit line of $3,500.00. A card will be sent to you within 7-10 business days.
I am in shock and that is the highest limit I have!! I don't know much about Amex but will this one show up on my credit report as that being my limit or do amex's not count? I know this is through FNBO and not Amex but I don't really know what the difference is. I am hoping this will show as my limit and show that I can handle that much so when my time comes around for cli with my other cards, it will help me get bigger limits!!
10-12-2012 03:46 AM
First of all, Congrats! This card will report the same way any card with a pre set credit line reports, ie......visa/mastercard/or co-branded Amex. The credit line reports every month, and whatever balance is owed on the account when the statement cycles each month, thus calculating into normal utilization. FNBO issues and services your Amex account under license from Amex, used on the Amex network. Enjoy!
10-12-2012 03:49 AM
FNBO is your issuer so it will show up as a normal revolving credit card with a 3500 limit. AmEx is simply the network in which it runs through. It is not a co-branded card so you are playing by FNBO's rules and terms. Congrats
10-12-2012 04:00 AM
10-12-2012 04:00 AM
10-12-2012 04:01 AM
Gosh, I am so excited and scared at the same time *lol* I really get confused about the Amex cards....that is one I have never had. So it is revolving? I had always heard that Amex was unlimited (within reason) and you had to pif each month. I pif anyways but I can run a balance on this one if I want right? That is revolving right?
10-12-2012 04:13 AM
I never applied for amex because I thought they were out of my league right now. What I have really been wanting is the chase freedom but I thought there would be no chance of that either. Maybe I have been eligible for better cards than I thought??
Why didn't you try for a real Amex?
10-12-2012 05:04 AM
Congrats on your approval! I have the Chrysler MasterCard from FNBO, and I am all smiles with them so far! FNBO was my first prime card since my credit recovery, with a $4100 limit.
10-12-2012 05:13 AM
Congrats! Very encouraging since FNBO is something I'm considering come Christmas for a couple big gifts... Either that or an Apple card.
As for the Freedom, I got the Chase SouthWest card with a 3k limit and scores around 650-660. AAoA of 5 years at the time and 4 derog accounts (COs/Collections) that were all 5+ years old. At the time my highest limit was $950 from HSBC.
10-12-2012 06:18 AM
Weren't you supposed to be gardening after this
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