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Oh well I remember getting those baby-step limits, but it opened doors to special store discounts and greater rewards. Later, graduated to their dual-card Visa carrying even more perks. Good info Ty101 -- that will give some encouragement to the OP.
I've had AE Card since 1998 and I got CLI for first couple of years. Now I have been stuck at $1850 for over 10 years. I called to ask for Visa upgrade and they told me I had to re-apply.
Ron.
If you're talking about the store card, I was approved for $620 and pretty bummed, then the girl behind the register made me feel better because she seemed very impressed and said they rarely see limits that high for the non-Visa.
I asked specifically not to apply for the Visa, because I don't need another visa, and I had no store cards at the time. Every time I've tried to app for a store card, I wind up getting the Visa or MC equivalent of the card, and it gets a little frustrating because I always heard on here that store cards improve your "credit mix." Anyway, hope that helps answer your question.
Was approved 124 CL 2009. It offered me a CLI --- 1dollar. Would you believe? LOL. I accepted it anyway. New CL --- 125
@cutemarty1 wrote:Was approved 124 CL 2009. It offered me a CLI --- 1dollar. Would you believe? LOL. I accepted it anyway. New CL --- 125
Haha! No clue why you got approved for 124 in the first place, but my guess would be they have CL thresholds, and that threshold was 125, so that's what CLI you were offered. Weird. Hopefully the next one will be more substantial.
@thrasher865 wrote:If you're talking about the store card, I was approved for $620 and pretty bummed, then the girl behind the register made me feel better because she seemed very impressed and said they rarely see limits that high for the non-Visa.
I asked specifically not to apply for the Visa, because I don't need another visa, and I had no store cards at the time. Every time I've tried to app for a store card, I wind up getting the Visa or MC equivalent of the card, and it gets a little frustrating because I always heard on here that store cards improve your "credit mix." Nah. Credit Mix refers to your mix of revolving and installment loans. Anyway, hope that helps answer your question.
Not to hijack the OP - but JIC you're still wondering about "Store" or "Merchant" cards or how important it is to have one -
Although much of FICO scoring is under wraps, the FICO codes are published.
They want you to have an open revolving account with a bank or national credit card co. (That’s code #3 – you will get dinged if you don’t).
They want you to have activity on that bank or national account (Code #15 – you will get dinged if you don’t)
They want you to have a revolving account (That’s code 16 – you will get dinged if you don’t).
By having a bank card, you hit two birds with one stone (#3 and #16). By using it, you meet the requirements of #15. After one bank card is in place, you don’t have to worry about whether a card is a store or bank card. FICO does not ding you for not having a store (merchant) card.
That being said, there are some advantages to store cards. For rebuilders, they tend to be easier to be approved for, may have higher CL’s than rebuilder bank cards, and tend to be long-lived so they add to your AAofA over time. Some store cards offer customer perks. So bank cards and store cards both have a niche. Bank cards definitely help your FICO score in and of themselves. Store cards can help with higher rebuilding CL’s, long-term AAofA and cardholder perks. You can (and some may argue should) get to the 800’s without a single store card in sight. DH was at 802 with one ($500CL) bank card only.
I’m a rebuilder – so I’m quite fond of my store cards. But I did not receive a FICO score increase--in fact I lost five points with my first store card. It’s a Macy’s and it serves my needs well – but not because of FICO scoring practices.
Now back to the OP's question on American Eagle opening CL's:
One more, not to get too far off the OP, but I kinda get it, BeamMeUp. It's almost like doing your taxes (subtract line 43 from line 23 and add 15 and 32) hahaha. But, my question is... where does Dual cards fall in these requirements, under Banks since they're backed by banks? If so, isn't all store cards? It's no prob if no one have the answer to this -- no worries.
beammeup, are you fairly confident in that? I had always heard store cards were important to "improve your mix" on here. Does this mean I couldve gotten the VISA? I told the CSR that I wanted the store card, but I'm sure the VISA would've come with a much higher limit. Too late now, I don't think they upgrade, and its not worth an inquiry.