SAMS CLUB MASTER CARD APPROVAL (BIG DISAPPOINTED)

[gdale6]

Based on your siggy you are carrying 17-26K in revolving debt on 243K available, even though you may have the income to support paying it all off when the bill comes its still a large amount in a new creditors eyes. You could also be nearing max exposure that any bank is going to give you for your income level. I would just keep the card at this point as you have taken the hit for the inquiry and will get hit for the new account and AAoA drop. As stated with good use of the card you should be able to move it up in short order. I would work on getting actual reported balances down under 1% when you are going to app for new credit. Welcome to the board

[19eighty5]

Congratulations!

[Anonymous]

Would like to Thank you everyone who replied and posted comment

I will take you guys advise and keep the card, even tho is just SL$1000 and i will max out in 2-3 trips in Sams Club and

need to re pay online again and again to allow me to use it. 

Hopefully they will CLI in summer time

One thing last thing would like to confirm with you guys

Example

3/16 I approved for a card

3/18 I asked them cancel it 

banks will still reporting to our reports said 1 account was opened and then closed it ?

For every account that opened, score will drop 

But if we close it immeidately,  the score will gain back right away?

It still count as 1 new account open ? even closed it right away ?

Thank you so much everybody here 

[Anonymous]

Closed immediately or not you still lose the points at that time for having a new account opened, yeah.  

[Anonymous]

With Sam's your inital results have no real bearing onthe situation. DW got a preapproval for the store card in the mail. With scores arround 750. She applied Got limit very low arround 750 also her lowest card.  Two weeks and 1 usuage later they raised her limit to $2K. Still low. At 6 months put in on line for cli got $10K. Never went the credit solutions way. Last fall they upgraded her to MC. Our income is way over $100K and utilz under 5% and scores now 760-790.  We don't use the card but for gas and some dining. We have better cards. Never carry balance.   

[Anonymous]

---

@Anonymous wrote:

Would like to Thank you everyone who replied and posted comment

I will take you guys advise and keep the card, even tho is just SL$1000 and i will max out in 2-3 trips in Sams Club and

need to re pay online again and again to allow me to use it. 

Hopefully they will CLI in summer time

One thing last thing would like to confirm with you guys

Example

3/16 I approved for a card

3/18 I asked them cancel it 

banks will still reporting to our reports said 1 account was opened and then closed it ?

For every account that opened, score will drop 

But if we close it immeidately,  the score will gain back right away?

It still count as 1 new account open ? even closed it right away ?

Thank you so much everybody here 

---

I went through this with Amex last year. I got approved for a $1K limit, turned around and Discover approved me for $7500, called them and canceled the card, they shipped it anyway despite it literally being less than half an hour between approval and cancellation, then when I got the notification they shipped the card I called and asked them to activate it and they said they couldn’t, then 60 days later it showed up on my credit report as two months of positive history and then closed. 

I am still mad about how it all went down but lesson learned - when you app for a card, its opened as soon as you get the approval whether you like the terms or not.

Synchrony also has lightning fast reporting. Both my Amazon and PayPal cards showed up on my reports within 3 days.  

[Anonymous]

Congrats on your approval !!!

[Grabiela]

Just wait 4 month. My dad got the same credit limit 1000. and at his 4th month he ask for a credit limit increase and they gave him 15K. 

[Anonymous]

thank you so much to everyone of you posted replied on my issue

thank you each of you guy

[Anonymous]

OP, do not close the account you are going to take the hit to your average age of accounts no matter what. Be patient and you will get your increase listen to the sage advice above.