topic Re: First CC Approved!! What in the world!??!? in Credit Card Approvals

First CC Approved!! What in the world!??!?

Sitori — Thu, 01 Nov 2012 23:32:21 GMT

Ok so I applied for the Cap1 Platinum MC since it was for limited history. I only started building credit in July(with a FP card $300 CL). I have student loans I was paying on for the last 2 years but apparently that doesnt matter.

When I applied online, I got the "we are reviewing your application and you will receive a letter in 7-10 days." I can't wait that long...I"m too impatient. So I called today and told them I needed to know what the status was bc I can't access my mail. She told me "due to privacy reasons I can't access the letter." So I proceeded to tell her that there was an issue regarding my mail system(which there was 2 weeks ago and should be resolved by now but hey you never know...lol) and said I really needed to figure out a way to know the status bc I don't want a card floating around somewhere. So she again put me on hold...once she came back she told me "well its saying your account is active" HUH??? lol. So I asked her if that meant I was approved....and she said "well its showing that your account is active so I'm guessing so!" I asked if she could tell me what the CL was and she said "$1000" WHAT!??!? No way. I've only ever heard of this card giving $300 or $500 CL and only one CLI to $750. Right?!? Has anyone ever started out with a $1000 CL???

Now I'm sitting here wondering if this was a mistake and she was giving me someone elses info! LOL. I don't think I'll believe it til I see it in the mail. She sounded confused bc it was showing active....but I havent even gotten the card in the mail yet. Even so, she said theres no way for anyone to actually activate the card bc you need all of your info...so I guess it's just showing that I have an account with them?

Then she said..."welcome to the family!! Have a great day!"

Pretty good for my first CC when I've only had a couple months of history! (still I dont think i'll be totally satisfied til I see the card in the mail lol)

Does this mean I wont get a CLI at all since I"m already at $1000? LOL

Re: First CC Approved!! What in the world!??!?

Epcot — Thu, 01 Nov 2012 23:34:37 GMT

That's great, Congrats!

Re: First CC Approved!! What in the world!??!?

Anonymous — Thu, 01 Nov 2012 23:35:17 GMT

Congrats on your first CC!

Re: First CC Approved!! What in the world!??!?

Anonymous — Thu, 01 Nov 2012 23:38:00 GMT

Gratz but as in all you info all somebody needs if they get lucky is the last 4 of you ssn. If she said it turned on I would have asked for it to be closed and a new one sent ASAP. I'm guessing you had to give them your SSN to talk to them so odds of them seeing somebody elses account is not likly.

Re: First CC Approved!! What in the world!??!?

jamie123 — Thu, 01 Nov 2012 23:39:55 GMT

Hurray!!!!!

Congrats!!!!

Don't even have the card yet and already worried about a CLI?!

Good job. I knew you could do it! $1000 CL how awesome is that?

Don't worry, you still might get CLIs but usually not much from Cap1.

Re: First CC Approved!! What in the world!??!?

Anonymous — Thu, 01 Nov 2012 23:41:05 GMT

i have a friend.no credit history. NON he just came to USA about month ago. i bring him to apply and get his SSN number !. and i apply for him a credit card too. We see the message wait for 7-10 day.Guess what? he got approval for 2000$ . i want to know what the hell going on with capital one

Re: First CC Approved!! What in the world!??!?

jsucool76 — Thu, 01 Nov 2012 23:43:08 GMT

You will still get a credit step CLI, probably around $500. I started with $3000 from cap1 and I was "pre-approved" for a $500 CLI after my 6th statement. Within a few days after setting up your card and online account you will get a "document" online that will detail everything.

Congrats on your card!! cap1 was my first too...and I'll always remember her rofl

Re: First CC Approved!! What in the world!??!?

jamie123 — Thu, 01 Nov 2012 23:47:08 GMT

Okay, now pull the trigger on a Walmart application.

Do you shop at Walmart?

Re: First CC Approved!! What in the world!??!?

Sitori — Fri, 02 Nov 2012 00:04:34 GMT

@Anonymous wrote:
i have a friend.no credit history. NON he just came to USA about month ago. i bring him to apply and get his SSN number !. and i apply for him a credit card too. We see the message wait for 7-10 day.Guess what? he got approval for 2000$ . i want to know what the hell going on with capital one

what!? no way. that is crazy!

Re: First CC Approved!! What in the world!??!?

Sitori — Fri, 02 Nov 2012 00:07:14 GMT

I didn't know they started CL at $3000 on this card. That's pretty awesome.

Thanks guys! yay! Just 4 months ago I was thinking I was doomed for ever. I seriously don't know why I didn't start this process a long time ago lol

Re: First CC Approved!! What in the world!??!?

jsucool76 — Fri, 02 Nov 2012 00:10:40 GMT

@Sitori wrote:
I didn't know they started CL at $3000 on this card. That's pretty awesome.

Thanks guys! yay! Just 4 months ago I was thinking I was doomed for ever. I seriously don't know why I didn't start this process a long time ago lol

I was originally at $3000 on the platinum MC (it is the highest initial CL they will give, not sure how I got it, I had no history other than student loans in deferment) and then they PCd me to cash rewards after 2 weeks or so. I applied through a mail offer which is probably why I got such a high CL.

Just make sure you make your payments on time to ensure that you get your credit step CLI.

Re: First CC Approved!! What in the world!??!?

injustifiiable — Fri, 02 Nov 2012 00:29:46 GMT

You might get a CLI to $1500...lol.

Re: First CC Approved!! What in the world!??!?

Sitori — Fri, 02 Nov 2012 00:31:56 GMT

well hey, I was expecting only 500 since I literally have no history..So I'd be happy with 1500.

Umm..Jamie..I'm not sure about the Walmart card. I don't know how much I will use it. I HATE going to walmart lol. Is it something that will really help me?

Besides, what about the inq's? Don't I have too many now?

Oh--on a different note, I got a pre-approved Discover letter today. Whats that all about lol

Re: First CC Approved!! What in the world!??!?

Anonymous — Fri, 02 Nov 2012 00:32:16 GMT

Congrats

Re: First CC Approved!! What in the world!??!?

injustifiiable — Fri, 02 Nov 2012 00:34:28 GMT

@Sitori wrote:
well hey, I was expecting only 500 since I literally have no history..So I'd be happy with 1500.

Umm..Jamie..I'm not sure about the Walmart card. I don't know how much I will use it. I HATE going to walmart lol. Is it something that will really help me?
Besides, what about the inq's? Don't I have too many now?

Oh--on a different note, I got a pre-approved Discover letter today. Whats that all about lol

People like the Walmart card cos it's backed by GE, and CL's grow fast with just a SP only (you can get one after 4-5 months of being a cardholder). The TU FICO score is also one of the main benefits.

Hey, might as well pull the trigger on that Discover...you may get a similar CL with them.

Re: First CC Approved!! What in the world!??!?

Sitori — Fri, 02 Nov 2012 00:47:59 GMT

I'm worried about all the inq's tho....I think I have around 6 now...

I would totally die if I applied for the Discover and got denied..

Re: First CC Approved!! What in the world!??!?

jsucool76 — Fri, 02 Nov 2012 00:50:20 GMT

I have around 14 inqs on each of my reports, that is why I'm in the garden

If the only cards you have are FP and (now) cap1, they won't do AA on you for inqs. They're the least likely of all lenders to do that, so if there is another account you want I would just shoot for it now and hit the garden. Might as well try that discover letter

Also, I wouldn't app walmart if you don't shop there, the TU score is great and I love it (I sit here waiting for the score thread every month so I know my score is up) but if you aren't gonna use the card there isn't any point in apping for it.

Re: First CC Approved!! What in the world!??!?

injustifiiable — Fri, 02 Nov 2012 00:53:18 GMT

Discover mainly pulls EQ...is that the CRA you have 6 INQs on?

Re: First CC Approved!! What in the world!??!?

distantarray — Fri, 02 Nov 2012 01:06:19 GMT

Just don't screw it up! remember having good credit can save you THOUSANDS a year no problem, my friends who though they were smart and doing stupid things like maxing out their credit cards and never paying saved them maybe $3,000 that year, but it's going to cost them atleast $10,000 in the next few years. Harder time getting an apartment, harder time getting a car financed etc.

Irresponsible kids are paying 20% interest on a $10,000 car, meaning they'll end up paying $20,000 for their car -_-; 100% interest in 5 years

Re: First CC Approved!! What in the world!??!?

jsucool76 — Fri, 02 Nov 2012 01:09:10 GMT

@distantarray wrote:
Just don't screw it up! remember having good credit can save you THOUSANDS a year no problem, my friends who though they were smart and doing stupid things like maxing out their credit cards and never paying saved them maybe $3,000 that year, but it's going to cost them atleast $10,000 in the next few years. Harder time getting an apartment, harder time getting a car financed etc.

Irresponsible kids are paying 20% interest on a $10,000 car, meaning they'll end up paying $20,000 for their car -_-; 100% interest in 5 years

And that is only if it isn't a compound interest loan If it is a compound interest loan it'll be even more