Counter-Offer Meaning...

[Andy77]

Hello,

I applied with Gain FCU for a Platinum Mastercard and asked for 5k. The application status went from pending to counter-offer.

They did not email me yet with what counter-offer means.

Does this mean I was approved, just maybe not for the credit limit I asked for OR could I have been approved for more than what I asked for  ?

Thank you

[Anonymous]

Most likely they will approve you at an amount somewhere under $5k. That's the typical way a counteroffer is meant in credit.

[Brian_Earl_Spilner]

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@Anonymous wrote:

Most likely they will approve you at an amount somewhere under $5k. That's the typical way a counteroffer is meant in credit.

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This. Or, a different product than what you applied for.

[Anonymous]

Most likely it's going to be a lower SL than you asked for and they'll give you the option it accept with their counter offer. That would be the only thing I can logically think it can be.  

[Andy77]

Countered with $2,500.00, which I am delighted with. I can always work up to 5k later.

[CreditMagic7]

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@Andy77 wrote:

Countered with $2,500.00, which I am delighted with. I can always work up to 5k later.

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Well. There you have it @Andy77 

Both your answers and the new approval!! Allow me to say Congratulations!

I think the great part of those CU's that let's the member first select a limit is that even a counter offer is still a approval and you can always work your way up somewhere along the line later to first expectations.

[blindambition]

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@Andy77 wrote:

Countered with $2,500.00, which I am delighted with. I can always work up to 5k later.

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Congrats on your approval!!! Just know CLI policy before you ask, some CU like AOD will close card and issue new card and number when limit raised.

[Remedios]

Congratulations on your new card.

Feel free to start an approval thread if you wish to do so.