topic Re: USAA approval wow kidding me! in Credit Cards

USAA approval wow kidding me!

Anonymous — Sun, 23 Sep 2012 07:32:57 GMT

ok after turning 18 this year i added my son to my walmart and target card as AU and he has a Bofa secure card for about 4 months now

current no lates oldest account 4.2 years walmart and target as AU AAOA 1.5 so today we decided to do app spree and this is the result

Citi Forward College student for 2K

Discover More student 2.5K

USAA Cash Rewards Platinum Visa (offer tab) instant approval 15K wow

USAA Cash Rewards Amex Express (offer tab) instant approval 5K

wow my son has higher limit than me

Re: USAA approval wow kidding me!

Anonymous — Sun, 23 Sep 2012 07:55:18 GMT

Oh wow that's awesome! Nice work!!

Re: USAA approval wow kidding me!

LS2982 — Sun, 23 Sep 2012 12:56:48 GMT

Wow.....

Very awesome!!! CONGRATS!!!

Make sure you explain to him to be responsible with such a high limit, it can be very easy to get into trouble with.

Re: USAA approval wow kidding me!

RockinRay — Sun, 23 Sep 2012 13:28:19 GMT

@LS2982 wrote:
Wow.....

Very awesome!!! CONGRATS!!!

Make sure you explain to him to be responsible with such a high limit, it can be very easy to get into trouble with.

+1 - my daughter has been approved for cards with high limits, she is 19... We called the card companies and had them lower the CL so she would not get in trouble with them.

Re: USAA approval wow kidding me!

Cdnewmanpac — Sun, 23 Sep 2012 14:02:38 GMT

Since few college students have incomes that would require high limits , you might consider giving him the physical forward card and holding on to the others for him. Set up recurring charges for each to keep them active and give the rest to him when he graduates. Keeping the higher limits will help in the long run. Just a thought.

Re: USAA approval wow kidding me!

shakalaka — Sun, 23 Sep 2012 14:14:31 GMT

Wow, awesome. Congratulation. Having a parent who knows a good thing about credit sure helps a lot

Re: USAA approval wow kidding me!

LS2982 — Sun, 23 Sep 2012 14:26:25 GMT

@Cdnewmanpac wrote:
Since few college students have incomes that would require high limits , you might consider giving him the physical forward card and holding on to the others for him. Set up recurring charges for each to keep them active and give the rest to him when he graduates. Keeping the higher limits will help in the long run. Just a thought.

I agree wit hthis.

Re: USAA approval wow kidding me!

Duncanrr — Sun, 23 Sep 2012 14:56:02 GMT

Grats for you but I don't understand why any lender would give a kid a limit that high it is irresponsible from a lending perspective.

Re: USAA approval wow kidding me!

LS2982 — Sun, 23 Sep 2012 15:00:50 GMT

@Duncanrr wrote:
Grats for you but I don't understand why any lender would give a kid a limit that high it is irresponsible from a lending perspective.

I agree, its almost setting them up for failure.

Re: USAA approval wow kidding me!

jsucool76 — Sun, 23 Sep 2012 15:03:41 GMT

As a college student myself, if I was given a 15k limit I'd be ecstatic....and then I would probably call up the company and ask for a CLD.

Re: USAA approval wow kidding me!

Revelate — Sun, 23 Sep 2012 15:43:17 GMT

Jsu: if you knew you might wind up in trouble with a high limit, you probably wouldn't have an issue anyway .

I don't understand the USAA approvals either, honestly looks like someone added an extra zero in underwriting.

I do like cdnew's plan if you can swing it with your kid. Whatever is being paid immediately out of pocket for tuition may be a good use for that trade line too assuming it will be paid within the grace period anyway.

Having a hard time thinking of another use for a student and such a tradeline. Out of curiosity, how much did he list as income?

Re: USAA approval wow kidding me!

Anonymous — Sun, 23 Sep 2012 16:59:30 GMT

my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.

Re: USAA approval wow kidding me!

jamie123 — Sun, 23 Sep 2012 17:17:58 GMT

@Anonymous wrote:
my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.

I disagree with you! You are TOTALLY wrong!

The most important numbers in his life will be his wife's birthday followed by the date of their anniversary and THEN his credit score!

Re: USAA approval wow kidding me!

LS2982 — Sun, 23 Sep 2012 17:24:17 GMT

@jamie123 wrote:
@Anonymous wrote:
my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.
I disagree with you! You are TOTALLY wrong!

The most important numbers in his life will be his wife's birthday followed by the date of their anniversary and THEN his credit score!

Re: USAA approval wow kidding me!

shakalaka — Sun, 23 Sep 2012 17:27:40 GMT

Yes, I agree. Forgetting these dates can be much more worse, then a low credit score. Still both can make your life pretty miserable And recovery from both can be a long way to go ...

Re: USAA approval wow kidding me!

jsucool76 — Sun, 23 Sep 2012 17:27:55 GMT

@LS2982 wrote:
@jamie123 wrote:
@Anonymous wrote:
my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.
I disagree with you! You are TOTALLY wrong!

The most important numbers in his life will be his wife's birthday followed by the date of their anniversary and THEN his credit score!

+10000

Re: USAA approval wow kidding me!

webhopper — Sun, 23 Sep 2012 19:15:13 GMT

Haha so true.

You will be.doing your kid a world of good if you hang onto those cards until he is more prepared for them. My mom did that with my.discover card. Now it is 5k cl; 13 yrs old. No lates ever.

Re: USAA approval wow kidding me!

Anonymous — Sun, 23 Sep 2012 19:55:57 GMT

@jamie123 wrote:
@Anonymous wrote:
my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.
I disagree with you! You are TOTALLY wrong!

The most important numbers in his life will be his wife's birthday followed by the date of their anniversary and THEN his credit score!

wifes birthday then anniversary both will cause me to use credit cards shes tired of me giving her flowers from her own garden

Re: USAA approval wow kidding me!

LS2982 — Sun, 23 Sep 2012 20:56:56 GMT

@Anonymous wrote:
@jamie123 wrote:
@Anonymous wrote:
my son told me to ho;ld and keep his higher limit card that he is satisfied with a 2K he even ask me that his spending limit on his 2k card will be less that 20% i guess it helps when i keep reminding him the most important numbers in your life is your credit score.
I disagree with you! You are TOTALLY wrong!

The most important numbers in his life will be his wife's birthday followed by the date of their anniversary and THEN his credit score!
wifes birthday then anniversary both will cause me to use credit cards shes tired of me giving her flowers from her own garden

Re: USAA approval wow kidding me!

calihlove75 — Mon, 24 Sep 2012 00:00:16 GMT

@Anonymous wrote:
ok after turning 18 this year i added my son to my walmart and target card as AU and he has a Bofa secure card for about 4 months now
current no lates oldest account 4.2 years walmart and target as AU AAOA 1.5 so today we decided to do app spree and this is the result

Citi Forward College student for 2K
Discover More student 2.5K
USAA Cash Rewards Platinum Visa (offer tab) instant approval 15K wow
USAA Cash Rewards Amex Express (offer tab) instant approval 5K

wow my son has higher limit than me

Wow, I cannot believe USAA gave a student 20,000 in credit. Not to rain on the happy parade here, but this can be a recipe for disaster, especially for a teenage boy just starting life as a young adult.