Just Got Approved for My first American Express!

Anonymous · ‎01-17-2016

On a whim I applied for an American Express Blue Cash Preffered card and got approved to my surprise. I've only had my first credit card for a few years now but I pay it off diligently and have a 750 credit score. My salary is only about $20,000 a year since I'm a full time student and can't work much, however, for whatever reason I got approved for this card and they gave me a $9,600 credit limit! What gives? That's basically half my yearly salary!

myjourney · ‎01-17-2016

Welcome to the forum and the Amex family

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?

Anonymous · ‎01-17-2016

Good job and congrats!! Welcome to the board.

Anonymous · ‎01-17-2016

Wow, congrats! That's a very generous SL, enjoy!!

Anonymous · ‎01-17-2016

Thanks! Can you provide any insight into why they have such an insanely high line of credit? I know people who make 4 times what I make and have lower credit limits...

Anonymous · ‎01-17-2016

welcome to the family

Creditaddict · ‎01-17-2016

Sounds like you have not applied for much credit but have handled the 1 or so cards you have well for years and built up a very nice credit score... If you applied to Chase or Capital One Venture you might be shocked to get over $20k!

It's not uncommon for a bank to issue you credit lines as high as your annual income over time.

alextercero · ‎01-17-2016

Congrats

Current Credit Cards

NFCU More Rewards | CL $4500 | APR 15.40% | 08/2021

Capital One Quicksilver One | CL $6600 | APR 31.74% | 09/2021

Capital One Quicksilver | CL $5500 | APR 31.74% | 02/2022

NFCU Cash Rewards | CL $4500 | APR 15.40% | 06/2022

Goldman Sack Apple Card | CL $6400 | APR 23.74% | 02/2024

NFCU Go Rewards | CL $33000 | APR 13.74% | 03/2024

CITI Bank Custom Cash | CL $3900 | APR 29.74% | 08/2024

Discover it | CL $3000 | APR 29.74% | 11/2024

CITI Bank Rewards+ | CL $5200 | APR 29.74% | 12/2024

Currently rebuilding as of (May 2021)

Current Fico Scores 8/9: (December 2024)

Credit Age:

Inquiries:

Anonymous · ‎01-17-2016

@Anonymous wrote:
Thanks! Can you provide any insight into why they have such an insanely high line of credit? I know people who make 4 times what I make and have lower credit limits...

Because you're a college student and they want to hook you for life.

Anonymous · ‎01-17-2016

Congrats!