Ax defies all logic and reason. Amazing, really.

[bourgogne]

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@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

[Anonymous]

That is quite amazing, to get a $16K card without a job and having negatives.

As for trusts, this is one of the cons that can follow with not really needing to work. It can take away a persons drive to succeed in life.

[Anonymous]

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@bourgogne wrote:

---

@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

---

Given that info I don't really know why you're surprised at the approval. $65K with lates in the past and no present credit obligations will get a decent credit limit with most creditors. 

[bourgogne]

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@Anonymous wrote:

---

@bourgogne wrote:

---

@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

---

Given that info I don't really know why you're surprised at the approval. $65K with lates in the past and no present credit obligations will get a decent credit limit with most creditors. 

---

the kid fell off the grid after the lates which were only 2 years ago.  no scores 3x.  only after the AUs were added did he pop up.  he has zero credit in his name.  its kind of amazing

[bourgogne]

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@Anonymous wrote:

That is quite amazing, to get a $16K card without a job and having negatives.

As for trusts, this is one of the cons that can follow with not really needing to work. It can take away a persons drive to succeed in life.

---

I am not going to get into it but the trust and motivation is the least of this kids problems.  when I am in a down mood l think of him and a few others like him I know.  I get where you are coming from, ever single individual on a trust, I know about 8, is screwed up.  even more than I am lol

[Anonymous]

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@bourgogne wrote:

---

@Anonymous wrote:

---

@bourgogne wrote:

---

@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

---

Given that info I don't really know why you're surprised at the approval. $65K with lates in the past and no present credit obligations will get a decent credit limit with most creditors. 

---

the kid fell off the grid after the lates which were only 2 years ago.  no scores 3x.  only after the AUs were added did he pop up.  he has zero credit in his name.  its kind of amazing

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It doesn't really surprise me. I mean creditors will take someone with active charge offs and give them a nice limit so why wouldn't they do so for someone who has lates but paid?

This would likely change if they explicitly required employment income to be listed separately from other sources but that's a subject for another thread entirely. 

I think it's foolish but I am not surprised.

[bourgogne]

surprised is your word.  its both amazing and foolish when it gets down to it

[Anonymous]

man..and still get a $16k sli..

maybe i should apply just to see what i would get, but i dont even prequalify for BCP.

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@bourgogne wrote:

---

@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

---

[Anonymous]

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@Anonymous wrote:

man..and still get a $16k sli..

maybe i should apply just to see what i would get, but i dont even prequalify for BCP.

---

@bourgogne wrote:

---

@Anonymous wrote:

and he still isn't working, correct?

no steady income?

---

he is 31 and have never worked a day in his life.  only trust income, ~$40k a year.  i put down $65k because mom makes up the diff

---

---

You don't have to. 

If you prequalify for any AMEX revolver like BCE or ED, you can get any of them. AMEX just picks three cards and presents them to you. 

[Anonymous]

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@bourgogne wrote:

surprised is your word.  its both amazing and foolish when it gets down to it

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I'm not amazed either because it doesn't surprise me. I have to be surprised before I'll be amazed when it comes to credit. 

While we think it's foolish, AMEX obviously has the numbers to back up their decisions in the end and has decided the odds are favorable for them.