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X1 Approved - BUT BEWARE

AI_JMV
Regular Contributor

X1 Approved - BUT BEWARE

Well, it's been a minute since I have peeked out of the garden.  I am getting ready to app spree and noticed this X1 card with the SP etc etc.  I applied and was approved last night for 30.5k SL.  Loaded the card into my wallet seamlessly and went to use it today.  A $3500 charge.  Declined. I texted and emailed support and here was their response. Still shaking my head:

 

Hi,
 
Unfortunately this transaction is too large given the age of your account. As with many credit cards, new accounts may experience restrictions on large transactions. You should be able to utilize your full limit over time as your account history with X1 builds.
 
Best,
X1 Team

 

WHAT THE (mod cut-not here pls)... What is the point of a credit limit then?? Also.. what is the arbitrary purchase limit that DOES work for them and won't be declined?? Are you NUTS?! Not a CHANCE will I ever use this card again after this. Can you imagine trying to use this after a dinner with clients etc? And get declined LOL (mod cut). So, I guess this will just look nice on my credit report since I will NEVER use this card again. 

 

BEWARE! 

Sept 2022 EQ-825 TU-840 EX-830
UTIL: 1%
Message 1 of 23
22 REPLIES 22
M_Smart007
Legendary Contributor

Re: X1 Approved - BUT BEWARE

Congrats  ..They hand out fairly large CL's ..then decline? ...Hmmmmm

Thanks for posting your experience with them.

 

ETA: I'd most likely be upset to.

Message 2 of 23
AI_JMV
Regular Contributor

Re: X1 Approved - BUT BEWARE

Especially for someone with my credit file. 30.5 is hardly close to my other limits and my util is AZEO at all times. They also have my bank account connection, so they know what I am worth.  Really stupid on many fronts..

Sept 2022 EQ-825 TU-840 EX-830
UTIL: 1%
Message 3 of 23
CYBERSAM
Valued Contributor

Re: X1 Approved - BUT BEWARE


@AI_JMV wrote:

Well, it's been a minute since I have peeked out of the garden.  I am getting ready to app spree and noticed this X1 card with the SP etc etc.  I applied and was approved last night for 30.5k SL.  Loaded the card into my wallet seamlessly and went to use it today.  A $3500 charge.  Declined. I texted and emailed support and here was their response. Still shaking my head:

 

Hi,
 
Unfortunately this transaction is too large given the age of your account. As with many credit cards, new accounts may experience restrictions on large transactions. You should be able to utilize your full limit over time as your account history with X1 builds.
 
Best,
X1 Team

 

WHAT THE .. What is the point of a credit limit then?? Also.. what is the arbitrary purchase limit that DOES work for them and won't be declined?? Are you NUTS?! Not a CHANCE will I ever use this card again after this. Can you imagine trying to use this after a dinner with clients etc? And get declined LOL. So, I guess this will just look nice on my credit report since I will NEVER use this card again. 

 

BEWARE! 


This is the 1st I've seen in here! Very strange! I know people that ran much higher charges with no issues in first couple of months!

 

It is possible they have not fully activated your Card yet and full CL becomes available once you receive the actual card! Similar to what Chase does with new accounts.




Message 4 of 23
AI_JMV
Regular Contributor

Re: X1 Approved - BUT BEWARE


@CYBERSAM wrote:

@AI_JMV wrote:

Well, it's been a minute since I have peeked out of the garden.  I am getting ready to app spree and noticed this X1 card with the SP etc etc.  I applied and was approved last night for 30.5k SL.  Loaded the card into my wallet seamlessly and went to use it today.  A $3500 charge.  Declined. I texted and emailed support and here was their response. Still shaking my head:

 

Hi,
 
Unfortunately this transaction is too large given the age of your account. As with many credit cards, new accounts may experience restrictions on large transactions. You should be able to utilize your full limit over time as your account history with X1 builds.
 
Best,
X1 Team

 

WHAT THE ... What is the point of a credit limit then?? Also.. what is the arbitrary purchase limit that DOES work for them and won't be declined?? Are you NUTS?! Not a CHANCE will I ever use this card again after this. Can you imagine trying to use this after a dinner with clients etc? And get declined LOL.So, I guess this will just look nice on my credit report since I will NEVER use this card again. 

 

BEWARE! 


This is the 1st I've seen in here! Very strange! I know people that ran much higher charges with no issues in first couple of months!

 

It is possible they have not fully activated your Card yet and full CL becomes available once you receive the actual card! Similar to what Chase does with new accounts.


Which I would have fully understood, but there was no communication of any purchase limit while waiting for the card to come. And $3500 is hardly a risky charge with a 30.5k SL. 

Sept 2022 EQ-825 TU-840 EX-830
UTIL: 1%
Message 5 of 23
CH-7-Mission-Accomplished
Valued Contributor

Re: X1 Approved - BUT BEWARE


@AI_JMV wrote:

Well, it's been a minute since I have peeked out of the garden.  I am getting ready to app spree and noticed this X1 card with the SP etc etc.  I applied and was approved last night for 30.5k SL.  Loaded the card into my wallet seamlessly and went to use it today.  A $3500 charge.  Declined. I texted and emailed support and here was their response. Still shaking my head:

 

Hi,
 
Unfortunately this transaction is too large given the age of your account. As with many credit cards, new accounts may experience restrictions on large transactions. You should be able to utilize your full limit over time as your account history with X1 builds.
 
Best,
X1 Team

 

WHAT THE ... What is the point of a credit limit then?? Also.. what is the arbitrary purchase limit that DOES work for them and won't be declined?? Are you NUTS?! Not a CHANCE will I ever use this card again after this. Can you imagine trying to use this after a dinner with clients etc? And get declined LOL. So, I guess this will just look nice on my credit report since I will NEVER use this card again. 

 

BEWARE! 


There are lots of reports on other fora (e.g, Reddit) about difficulties with this card.   They have an overactive fraud department.   Some people have just closed it or else sock drawered it.   Did you get an HP?    Various reports either way whether SP only or HP if you accept.

Message 6 of 23
CYBERSAM
Valued Contributor

Re: X1 Approved - BUT BEWARE

@AI_JMV  I 100% agree with you, this should not be as complicated! They are backed by a bank so no need to reinvent the wheel from scratch!

 

Also don't be mad when you see the HP! lol 😂  The SP was for early beta and now is SP for initial SL approval and then HP to finalize the account, which probably that's why your charge didn't go through!

 

BTW, Congrats on your new X1 Card 🥂🤑👍




Message 7 of 23
Aim_High
Senior Contributor

Re: X1 Approved - BUT BEWARE

Congrats (I suppose?) on your X1 approval, @AI_JMVSmiley Indifferent

And your data points about the card experience are invaluable to the community. 

 

On the one hand, after many initial questions* (link1; link2; link3) when the card first came out, I found the X1 card somewhat intriguing and worth at least a little investigation.  My final review and commentary (see here and here) explained why I ultimately didn't feel it was a card for me. 

 

Unfortunately for those who applied, this is one of several recent reports of significant issues with the card.  I'm truly glad that I passed it up.   I appreciate the honest shared experiences of others provide great value in guiding our credit decisions. 

 

For those considering the X1 card, besides the above reported issue with acceptance, I encourage you to read the following threads:

 



Length of Credit > 35 years; Total Credit Limits > $700K
AoOA > 29 years (Jun 1993); AoYA (Sep 2022)
* Hover cursor over cards to see name & CL, or press & hold on mobile app.
Message 8 of 23
GatoradeZeroGuy
Regular Contributor

Re: X1 Approved - BUT BEWARE


@AI_JMV wrote:

I applied and was approved last night for 30.5k SL.  Loaded the card into my wallet seamlessly and went to use it today.  A $3500 charge.  Declined. I texted and emailed support and here was their response. Still shaking my head:

 

Hi,
 
Unfortunately this transaction is too large given the age of your account. As with many credit cards, new accounts may experience restrictions on large transactions. You should be able to utilize your full limit over time as your account history with X1 builds.
 
Best,
X1 Team

 


I wonder if support's response meant to talk about a limited CL prior to having the physical card, but that's a horrid response, all the same.

Starting FICO 8s

Current FICO 8s

Current FICO 9s


Message 9 of 23
Bill77
Contributor

Re: X1 Approved - BUT BEWARE

I could maybe see this if your SL was 4000 with a new account.  But you only used ~12% of the given SL.

Message 10 of 23
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