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My friend and I applied for BCP several days ago. I have longer credit history and larger total credit limits than him. Besides I have income while he does not. It turns out we both get approved but his limit was 5k and my limit was 2k. So I am wondering how credit limit is determined? Anyone on this board has any idea or interesting cases to share? Thanks!
I have income, although not too much.
We are both students. Is this the reason he gets approved? I do not think he lied =).
Your friend's case is already the most interesting there is.
Could it be he has a lot of assets and/or is an authorized user on his parents' cards?
I think that's perhaps he gets lots of assets. I know he is very rich =).
But this is not important... Does anybody have any idea on how cl is calculated upon approval? This is what puzzles me. Thanks!
Your friend had to state some type of financials on the app question is was it true or not?
Example large bank account, investments something