topic Re: Alliant visa approved 500.00 limit in Credit Cards

Alliant visa approved 500.00 limit

Anonymous — Sat, 18 Jul 2009 23:59:18 GMT

Alliant approved me for 500 , I know it's not like the other limits I've seen on here but I have my foot in the door . My eq was 660 with 14 inq and 7 new accounts opened less than 60 days ago . I need to stop applying but it's so addicting . my only other cc is orchard with 300 opened less than 60 days ago . I think I have a card that will grow with me now .

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 00:05:25 GMT

Congrates on the card. That's the same CL I seem to be stuck in as well. I think it's a creditors equivalent to training wheels. Treat it right and the training wheels will come off. While I don't yet have an Alliant card it is my next and last card for a very long time. I have a secured loan with Alliant right now and in 6 months to a years time I'm going to apply for an Alliant visa.

Again congrates on getting your foot in the door.

Re: Alliant visa approved 500.00 limit

tray — Sun, 19 Jul 2009 00:23:40 GMT

Congratulations on your new visa card.

Re: Alliant visa approved 500.00 limit

BungalowMo — Sun, 19 Jul 2009 00:53:37 GMT

I've heard great things about Alliant. Be good with that card & it will reward you well into the future!

Congrats!

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 01:04:21 GMT

Congrats! I'm waiting until next year in May to apply for their credit card. By then, most of my inquiries will have fallen off on all 3 cra.

Re: Alliant visa approved 500.00 limit

favor4me2 — Sun, 19 Jul 2009 03:08:37 GMT

dizbuster, if you don't mind me asking, what kind of a secured loan do you have with them and what is the amount and terms? I'm thinking of trying to get a unsecured loan with them, I just want to know the difference.

Re: Alliant visa approved 500.00 limit

favor4me2 — Sun, 19 Jul 2009 03:10:30 GMT

jimmytftw35, did they say why they only gave you a $500 limit? I don't need another low limit card.

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 03:22:09 GMT

Hey favor4me2,

It's basically a loan that is secured by however much you have in your savings account. There's no credit check and you can basically set up how long you want to pay pay it back (six months, one year, no penalty for early payment). It's at 4.50% interest, but if you don't touch the loan and put it right back into your savings basically doubling your savings the interest you pay on the loan is pretty negligible. Then have them automatically take the payment out every month.

I had $8000.00 to work with so I took out a secured loan for that amount and will pay it back in one years time. I will then apply for the Alliant visa. This was the most painless experiance I have ever been through. The call took about five minutes and the check was in my mailbox in about three days.

Hope this helps.

Re: Alliant visa approved 500.00 limit

favor4me2 — Sun, 19 Jul 2009 03:54:11 GMT

Thanks dzbuster, but why didn't you just apply for the visa or the unsecured loan in the first place?

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 04:01:00 GMT

@Anonymous wrote:
Hey favor4me2,
It's basically a loan that is secured by however much you have in your savings account. There's no credit check and you can basically set up how long you want to pay pay it back (six months, one year, no penalty for early payment). It's at 4.50% interest, but if you don't touch the loan and put it right back into your savings basically doubling your savings the interest you pay on the loan is pretty negligible. Then have them automatically take the payment out every month.

I had $8000.00 to work with so I took out a secured loan for that amount and will pay it back in one years time. I will then apply for the Alliant visa. This was the most painless experiance I have ever been through. The call took about five minutes and the check was in my mailbox in about three days.

Hope this helps.

No reason why you can't pay of $7000 of it now, or overpay by a bit each month to reduce the interest you are paying and then just pay the rest off over the year, right?

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 09:51:42 GMT

@favor4me2 wrote:
Thanks dzbuster, but why didn't you just apply for the visa or the unsecured loan in the first place?

I don't think my scores are there yet. Plus I have a lot of inqu's and some pretty new accounts. I would like to let everything age a bit and plus a BK from '04. I opened the secured loan two months ago, the time just wasn't right.

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 09:56:21 GMT

@Anonymous wrote:
@Anonymous wrote:
Hey favor4me2,
It's basically a loan that is secured by however much you have in your savings account. There's no credit check and you can basically set up how long you want to pay pay it back (six months, one year, no penalty for early payment). It's at 4.50% interest, but if you don't touch the loan and put it right back into your savings basically doubling your savings the interest you pay on the loan is pretty negligible. Then have them automatically take the payment out every month.

I had $8000.00 to work with so I took out a secured loan for that amount and will pay it back in one years time. I will then apply for the Alliant visa. This was the most painless experiance I have ever been through. The call took about five minutes and the check was in my mailbox in about three days.

Hope this helps.
No reason why you can't pay of $7000 of it now, or overpay by a bit each month to reduce the interest you are paying and then just pay the rest off over the year, right?

Yea, that would work. I guess I just want to show Alliant that I can handle a large sum of money and leave it alone in savings for awhile. I want to show around 1 year of perfect payment on the loan. It can be very tempting to dip into that $16,000 in savings though

Re: Alliant visa approved 500.00 limit

Anonymous — Sun, 19 Jul 2009 12:27:06 GMT

"jimmytftw35, did they say why they only gave you a $500 limit? I don't need another low limit card.".............. All my accounts are less than 60 days old except a bank loan that is 10 months old . I have no baddies at all . I'm a late blummer to this credit game , I'm in my 40's and always paid cash for everything . I would guess that my thin file and all the new accounts played a big part of the limit . Atleast there are no AF's and this card should grow with me . I hope this shed some light on your question .

Message Edited by jimmytftw35 on 07-19-2009 05:25 AM

Message Edited by jimmytftw35 on 07-19-2009 05:27 AM