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I received a pre approval letter from Fifth Third bank for a Platinum Mastercard. The offer seemed pretty good with 15 months 0% promo for purchases and balance transfers so I thought I'd give it a shot. I typed my information, hit send and the screen said "Thank You for Applying" or something to that effect, bummer.
They immediately pulled a TU and shortly after they pulled an Equifax. I heard nothing from them and then about 10 days later myFico sent me a notification that a new account has been reported, and there it was, a slightly dissapointing $6k Mastercard, not what I wanted, but better than a decline. I didn't receive the welcome kit from them for anither 10 days after I saw it reported. I activated the account and asked about a higher CL and was told it is not available on brand new accounts, but they said they do periodic reviews for automatic increases.
Thanks to what I've learned here at myFico forums I am happy about having another line of credit to my growing profile. This bank is a little behind the times in technology, the way they communicate on pre approvals could be better, and you cannot pay online unless you have a checking account with them, so I just set up an autopay with my bank no big deal.
It's kind of funny saying that i am disappointed with "only" a $6k opening credit line. When I first discovered this site and forum I was concerned with not graduating from my Wells secured Card. Now, with some patience, biting some bullets, doing lots of reading and applying the knowledge gained from the experts in this forum I have almost $100k in unsecured credit, under 5% utilization, I would have never thought it possible. Thanks again to all that contribute here!
@thewizftl wrote:I received a pre approval letter from Fifth Third bank for a Platinum Mastercard. The offer seemed pretty good with 15 months 0% promo for purchases and balance transfers so I thought I'd give it a shot. I typed my information, hit send and the screen said "Thank You for Applying" or something to that effect, bummer.
They immediately pulled a TU and shortly after they pulled an Equifax. I heard nothing from them and then about 10 days later myFico sent me a notification that a new account has been reported, and there it was, a slightly dissapointing $6k Mastercard, not what I wanted, but better than a decline. I didn't receive the welcome kit from them for anither 10 days after I saw it reported. I activated the account and asked about a higher CL and was told it is not available on brand new accounts, but they said they do periodic reviews for automatic increases.
Thanks to what I've learned here at myFico forums I am happy about having another line of credit to my growing profile. This bank is a little behind the times in technology, the way they communicate on pre approvals could be better, and you cannot pay online unless you have a checking account with them, so I just set up an autopay with my bank no big deal.
It's kind of funny saying that i am disappointed with "only" a $6k opening credit line. When I first discovered this site and forum I was concerned with not graduating from my Wells secured Card. Now, with some patience, biting some bullets, doing lots of reading and applying the knowledge gained from the experts in this forum I have almost $100k in unsecured credit, under 5% utilization, I would have never thought it possible. Thanks again to all that contribute here!
Congrats. It's possible to get a higher CL. When I got my platinum mastercard from them at 5k, I called and asked for another review and asked for 10k. They countered with 8k and that's where it's set since opening in March 2014. A few months after I opened the platinum, I applied for the stand up 2cancer card and was approved for 10k which is where it sits since opening in July 2014.
Excellent, thanks for the information. I will give them a call tomorrow and ask them to do a review for a higher CL. It's good to that it worked for you, and I am even more motivated to try harder since they have not increased you automatically like they told me they would.
@thewizftl wrote:Excellent, thanks for the information. I will give them a call tomorrow and ask them to do a review for a higher CL. It's good to that it worked for you, and I am even more motivated to try harder since they have not increased you automatically like they told me they would.
I've tried a couple times with a HP and still no. I've reached their maximum exposure for my profile.
Congrats on the approval, you can wait 6 months to see if the can offer you a CLI via SP
@ddemari wrote:
25 across 3 cards I heard is the max: I have stand up to cancer at 5k, real life rewards wmc at 8k and cash rewards wmc at 8k. They send me more BT checks than cap1 lol. Never have I had auto or hard pull luv
Yes, those BT offers just keep coming it seems like every other month.
Congrats to the OP on the approval.
I had a similar experience with worse results with 5 /3 in early December.
Received a nicely worded prequal letter. Scores were above 720 across all three bureaus for a couple months.
Made the app online, and it seemed like it fell off a cliff.
After about 10 days, I received the CC in the mail with congrats letter and found out the CL was only 1k. Other accounts were at 6, 7 and 8k, so disappointing. One HP on EQ from the app.
Kicking myself because I did the app late in the evening and didnt take the time to fill in the info about wanting a balance transfer of about 3k, thinking I would just fill it in after the approval, of course thinking I would get a SL of about 10k. Didnt work, only got 1k.
Activated the CC and called in a couple weeks later and talked with two CSR to ask about possibility of a CLI to cover the BT, with some room to not max it out. I was told it wouldnt happen ever on a recon. Asked if it would have been different if I would have filled out the BT account info during the app process and the CSR chuckled and said it would make no difference, you get approved for whatever you qualify for.
I'll call in again after six months of use and ask for a SP APR reduction and oh by the way, is there a CLI available?
FWIW, I have been getting prequal letters from Discover for at least two months with three or more per month and I did an app for that earlier this month. I did take the time to fill out account info for the BT and my scores are either the same or very slightly higher. I was approved for 12.5k with one pull on EX.
HTH
@ddemari wrote:
25 across 3 cards I heard is the max: I have stand up to cancer at 5k, real life rewards wmc at 8k and cash rewards wmc at 8k. They send me more BT checks than cap1 lol. Never have I had auto or hard pull luv
I don't think $25K is the max - at least it wasn't for me. It really depends on the individual's profile. Now, that being said, they are pretty conservative on the lending side depending on a variety of factors. A relative of mine has a single $28K CC with them. And, I just got approved for their 3rd CC last month (will post results soon), and my approvals have been $9.5K for SU2C, $12.5K for Real Life Rewards and the exact same SL for my recent Cash Rewards approval, $12.5K.