topic Re: Biggest initial CL? in Credit Cards

Biggest initial CL?

Bman70 — Mon, 02 Jun 2014 01:20:43 GMT

Who's likely to give the biggest initial credit line - Sallie Mae or Amex (BCP)? Any indications, rumors, or intel floating around? Thanks

Re: Biggest initial CL?

jugstore — Mon, 02 Jun 2014 01:44:46 GMT

I can't speak to the Sallie Mae starting limits but Amex is pretty generous has a decently documented CLI system so even if it's lower to start it can grow pretty fast, and with soft pulls to boot!

You should also do some rough calculations if you are doing one or the other and not both to make sure the extra cash back on groceries the BCP gives makes it worthwhile compared to the Sallie Mae.

Re: Biggest initial CL?

youngandcreditwrthy — Mon, 02 Jun 2014 01:46:22 GMT

Amex ime offers larger credit likes overall as compared to Barclay's(issuer of SM MC). Amex is very picky though! Amex always has 3xcli after 60days

Re: Biggest initial CL?

Kenny — Mon, 02 Jun 2014 02:51:15 GMT

They both give very good limits. As with a lot of situations... there are a lot of variables. Go with whichever one makes the most financial sense to you: 0% promo rates, Cashback rates, etc...

Re: Biggest initial CL?

j_casteel — Mon, 02 Jun 2014 03:33:42 GMT

@jugstore wrote:
I can't speak to the Sallie Mae starting limits but Amex is pretty generous has a decently documented CLI system so even if it's lower to start it can grow pretty fast, and with soft pulls to boot!

You should also do some rough calculations if you are doing one or the other and not both to make sure the extra cash back on groceries the BCP gives makes it worthwhile compared to the Sallie Mae.

Too many variables to really say, and it also really depends on your credit file, salary, etc. It is different for everyone.

Re: Biggest initial CL?

fot1 — Mon, 02 Jun 2014 03:45:13 GMT

No way of knowing.. I got the Sallie mae card two weeks after getting the BCE.. BCE gave me $1000, Sallie Mae $7900

Re: Biggest initial CL?

Creditaddict — Mon, 02 Jun 2014 03:48:01 GMT

Barclay can be reckoned though... Amex can possibly 3x cli at 62 days

Re: Biggest initial CL?

NikoD — Mon, 02 Jun 2014 05:43:27 GMT

@fot1 wrote:
No way of knowing.. I got the Sallie mae card two weeks after getting the BCE.. BCE gave me $1000, Sallie Mae $7900

Interesting, I applied for Sallie Mae about a month after BCE. I had no other inquiries at all, BCE hadn't reported yet when I apped for the SM and they pulled from different CRA (so SM never saw the BCE HP). SM gave me $4500 and Amex gave me $10000. I guess YMMV.

Re: Biggest initial CL?

SunriseEarth — Mon, 02 Jun 2014 19:07:32 GMT

@Bman70 wrote:
Who's likely to give the biggest initial credit line - Sallie Mae or Amex (BCP)? Any indications, rumors, or intel floating around? Thanks

As is evidenced in the thread, it's truly YMMV. Amex and SM pull different CRs and have different internal scoring models.

Re: Biggest initial CL?

DrMac210 — Mon, 02 Jun 2014 20:36:16 GMT

@SunriseEarth wrote:
@Bman70 wrote:
Who's likely to give the biggest initial credit line - Sallie Mae or Amex (BCP)? Any indications, rumors, or intel floating around? Thanks
As is evidenced in the thread, it's truly YMMV. Amex and SM pull different CRs and have different internal scoring models.

In my case, last month I was approved for an Amex Delta Gold for $2K, and a Sallie Mae Barclay for $10K...................

Re: Biggest initial CL?

Bman70 — Mon, 02 Jun 2014 21:13:30 GMT

Thanks all, well as it turned out they were almost neck-and-neck: Sallie Mae first with a World MC of $12.5k, then Amex with BCP at $10k. Not disappointed!

Edit: Both instant online approvals, took about 5 seconds each, no calling except to find out Amex cl.

p.s. At $10k, I'm not really feeling the need to seek a 61 day 3x cli. Should I anyway? Can you do a smaller # than 3x at 61 days?

Re: Biggest initial CL?

Anonymous — Mon, 02 Jun 2014 21:16:44 GMT

Congratulations. For the 61 day CLI, you can ask for any amount you like, so if you are happier with $15K or $20K, you can ask for that. Or, just don't it at all until you feel the need.