topic Re: X1 approval in Credit Card Approvals

X1 approval

DJRobbieD — Sat, 27 Nov 2021 16:23:55 GMT

$9500 SL w/ 12.75% APR

A bit disappointed in the SL given their marketing for higher limits versus "traditional" CC issuers. My guess is the their income verification process undercut me. My wife and I gross ~$340k/yr, but our paychecks go to separate bank accounts. Also, ~30% of my ~$190k/yr income comes from annual bonuses. On top of that, we're joint on a $574k mortgage, so I'm getting tagged with the entire mortgage payment, skewing my DTI ratio.

I'm not sure I'll keep this card long-term, as I'm neck deep in the Chase UR and Amex MR ecosystems. Was mostly hoping to pad my TCL without a HP, with the bonus of a new metal card for the wallet

Re: X1 approval

CreditMagic7 — Sat, 27 Nov 2021 16:38:55 GMT

Congratulations on the X1 approval!

Re: X1 approval

Anonymous — Sat, 27 Nov 2021 16:43:23 GMT

With your scores and income that is a low SL. But they are mostly looking at income, not scores. Since your wifes pay and your bonus may not be in yet, you took the hit for that. I still think the old FICO score and even a 4506 would net you a line much higher. It appears that this card is not getting it right all the time. I am in the garden. I am tempted to apply but I really do not need more credit, with 2% utilization needed to report every month more credit for me is not the way to go at this time.

Thanks for the post.

Mark

Re: X1 approval

Ilinferno — Sat, 27 Nov 2021 16:43:26 GMT

Congrats on the approval!

Re: X1 approval

CreditAggie — Sat, 27 Nov 2021 16:53:30 GMT

Congratulations on your X1 approval!

Re: X1 approval

DJRobbieD — Sat, 27 Nov 2021 16:54:10 GMT

@Anonymous wrote:
With your scores and income that is a low SL. But they are mostly looking at income, not scores. Since your wifes pay and your bonus may not be in yet, you took the hit for that. I still think the old FICO score and even a 4506 would net you a line much higher. It appears that this card is not getting it right all the time. I am in the garden. I am tempted to apply but I really do not need more credit, with 2% utilization needed to report every month more credit for me is not the way to go at this time.
Thanks for the post.
Mark

Thank you, Mark. I was torn on hitting 'Accept' when they quoted me the $9500 SL, as like you I don't need the additional credit given our usual monthly spend. I think the only reason I hit 'Accept' was that I knew it wouldn't cost me a HP and the dip in my AAoA would be minimal, roughly half a year. Who knows, maybe their promise that credit limits will increase over time is true and I'll be pleasantly surprised next year.

Re: X1 approval

gdale6 — Sat, 27 Nov 2021 17:50:49 GMT

Grats on your x1 approval

Re: X1 approval

4sallypat — Sat, 27 Nov 2021 17:52:03 GMT

Congrats !

I love my X1 and don't worry, the CL will increase over time.

Start using it and put some spend on it while you have 4X points.

Pro Tip: Get another month of 4X points by giving your "cut the wait list line" invite code to someone who will get approved.

After a couple of months, ask (message) them for a CLI.

In my case, after using the card for 2 months, I have more money towards an aspirational Delta flight....

Re: X1 approval

Trini88 — Sat, 27 Nov 2021 19:44:23 GMT

Congratulations!!

Re: X1 approval

Rebuild2019 — Sat, 27 Nov 2021 21:18:37 GMT

Congratulations 🎉🎈🎊 on your X1 Approval.

Re: X1 approval

TSlop — Sat, 27 Nov 2021 21:19:40 GMT

Congrats on your approval!

Re: X1 approval

M_Smart007 — Sun, 28 Nov 2021 00:50:29 GMT

Congrats on your X1 approval.

Re: X1 approval

sugarcreek67 — Sun, 28 Nov 2021 01:03:50 GMT

Congrats on your new X1

Re: X1 approval

Titans84 — Sun, 28 Nov 2021 01:15:40 GMT

Congrats on the X1 approval!

Re: X1 approval

Total80sKid — Sun, 28 Nov 2021 05:19:54 GMT

Congrats on the approval 👍🏼

Re: X1 approval

stonedog23 — Sun, 28 Nov 2021 20:57:49 GMT

As I was reading about this card for the first time on here, I was thinking out loud that looking at someone's checking account alone is a crazy way to determine someone's yearly income.

Re: X1 approval

CYBERSAM — Sun, 28 Nov 2021 19:41:53 GMT

Congrats on your approval! 👍👍

@DJRobbieDWhat was your position in the wait list?

Re: X1 approval

DJRobbieD — Sun, 28 Nov 2021 19:43:26 GMT

@CYBERSAM wrote:
Congrats on your approval! 👍👍
@DJRobbieDWhat was your position in the wait list?

I got my hands on an invite code

Re: X1 approval

CYBERSAM — Sun, 28 Nov 2021 19:47:56 GMT

Very nice! Can't beat a decent CC with SP 🤑

X1 - Successful SL Recon

DJRobbieD — Tue, 30 Nov 2021 00:10:52 GMT

Not sure if this is appropriate place for this topic, but wanted to share that X1 is willing to recon their income verification process if you feel your SL is too low based upon the bank account data they receive via Plaid. All they asked for was the last two paystubs for both my wife and I to verify our annual household income. Less than 12 hour turnaround.

Result of my recon: SL raised from $9,500 to $30,000!