Approval Chances with Low Income

[Anonymous]

I'm a 21 year old looking at getting a second card.

Current scores:

731 Credit Karma

752 CapitalOne Credit tracker

Current cards:

CapitalOne Quicksilver $3300 limit, open for 15 months

Income: ~$28,000 per year

Chase has me pre-qualified for the Freedom card, and I've also gotten letters in the mail for the Discover it. Both have decent incentives ($100 bonus on Chase, double cashback for the first year with Discover).

My scores seem to be fine to get approved. What I'm worried about is my income being too low for them to give me another card. My main motvitation for getting another card is to bump my # of accounts and limits to improve my score. But if I get denied, then I'm stuck with a ding for no reason. Does anyone else have experience in a similar situation?

[Anonymous]

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Your income is fine and Chase's pre-qual is pretty solid (Discover's isn't though) so I say go for it!! Let us know how it goes!

[OmarGB9]

Your income is higher than mine and I have roughly 6x your limits lol. You're good to go. Chase is solid (I was pre approved and approved once I applied) and Discover is only somewhat solid if the letters state a set APR OR a small range of APRs. (i.e. 12.99-15.99 as opposed to 12.99-22.99)

[Anonymous]

I wouldn't worry. If you happen to have any interest in AmEx, I was approved for the Everyday with a $2k limit and I have a much lower student income ($12k) and 750-760 scores. Chase bizarrely shows me as prequalified for the CSP while my card limits with them are sadly <$1k, which makes me wonder how reliable their prequal site really is for everyone. But I think your existing CapOne limit should keep you safely out of the toy limit range for new approvals. Good luck! 

[Anonymous]

Welcome to MyFico. I suggest you find out what your real FICOs are before proceeding.  But based on this initial info, you should have no problem getting approved.  Whatever you do, report back with results.

[Anonymous]

Your incomes higher than mine and i was just approved for the Amex Delta Gold and Amex Gold charge card  

So I'd say you should be okay. 

[Anonymous]

Is slightly over a year enough history to have for a second card?

[Anonymous]

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@Anonymous wrote:

Is slightly over a year enough history to have for a second card?

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Yes, more than enough.  You are overthinking it.  Go for it.  You should be fine-

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Is slightly over a year enough history to have for a second card?

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Yes, more than enough.  You are overthinking it.  Go for it.  You should be fine-

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I agree. What are you waiting for? 

[Anonymous]

Approved in 15 second for $4500. Thanks for the confidence boost guys