Disparity between credit limits of newly approved cards

[Anonymous]

I've recently been on an app spree since I got my first credit card (BofA, $2000) a year ago. Of the applications that have been approved, the lowest credit limit extended is for $1,000 (Amex) while the highest limit extended is for $12,5000 (Chase; in fact I was approved for two Chase cards totaling $22,500 in credit). 

I'm not really upset at this situation but just curious as to why one lender would be willing to extend me more than twenty times the credit as another? Has anyone else had something similar happen to them? 

[Anonymous]

I have a credit score of 750 and AmEx wouldn't give me a high starting limit. One card was like 4K when I got approved. While Chase has given me very high starting limits 12k.
When I had a thin file they still only gave me 4K. Not sure how their underwriting works.

[creditguy]

Some lenders are just a little more liberal than others with new customers SL's, while others are a bit more conservative. Amex sometimes just likes to dip a toe in the water to test the temperature. A lower SL doesn't doom you to the doldrums of small CL's just the opposite, treat Amex right and you can achieve phenomenal CLI's Good luck, upward and onward.

[RonM21]

I'm thinking the same. Some lenders criteria can be different, and their underwriting processes can be different. One can look at your profile one way, while the other sees it differently.

[Anonymous]

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@Anonymous wrote:

I've recently been on an app spree since I got my first credit card (BofA, $2000) a year ago. Of the applications that have been approved, the lowest credit limit extended is for $1,000 (Amex) while the highest limit extended is for $12,5000 (Chase; in fact I was approved for two Chase cards totaling $22,500 in credit). 

I'm not really upset at this situation but just curious as to why one lender would be willing to extend me more than twenty times the credit as another? Has anyone else had something similar happen to them? 

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The simplest answer is that all creditors are not created equal. Did you apply for your Chase cards first? How many apps were in your app spree? Was the $1K approval the last credit card application you submitted? 

[disdreamin]

Yeah, mine have been all over the place. Most are nice, but my BCP AmEx was originally only a $2k SL! I had to move some of the CL from my Delta Skymiles card to even be able to use the thing. The same general time frame I received $25k on CSP, $18.8k on Barclay SM and $15k on Arrival+. AmEx was like, nope, $2k.

[Anonymous]

Interestingly, the Amex card was first and the two Chase cards we're last with the $10,000 card being second to last and the $12,500 card being the absolute last. In total I did four applications, the first two of which we're approved for $1,000 lines of credit. 

[Anonymous]

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@Anonymous wrote:

I've recently been on an app spree since I got my first credit card (BofA, $2000) a year ago. Of the applications that have been approved, the lowest credit limit extended is for $1,000 (Amex) while the highest limit extended is for $12,5000 (Chase; in fact I was approved for two Chase cards totaling $22,500 in credit). 

I'm not really upset at this situation but just curious as to why one lender would be willing to extend me more than twenty times the credit as another? Has anyone else had something similar happen to them? 

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My SL for the AmEx BCE (my first AmEx) was $10,000 but my Chase cards are $3,000, $4500, and $4500.  I think the reason why I got such a high limit with AmEx is because I had a sizeable amount of financial assets relative to my annual income (a little over 50%).  The AmEx application asked for my total financial assets AND annual income while Chase only asked for annual income.

[satasat360]

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@Anonymous wrote:

Interestingly, the Amex card was first and the two Chase cards we're last with the $10,000 card being second to last and the $12,500 card being the absolute last. In total I did four applications, the first two of which we're approved for $1,000 lines of credit. 

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If you dont mind me asking which Amex card you applied? Their underwriting is stricter with BCE and BCP when compared to other cards. I started with 2k on my BCE and now at 32k in 2.5 years, so if yours is BCE and if you treat it nicely you can grow CLI's 9x within a year.

[Anonymous]

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@satasat360 wrote:

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@Anonymous wrote:

Interestingly, the Amex card was first and the two Chase cards we're last with the $10,000 card being second to last and the $12,500 card being the absolute last. In total I did four applications, the first two of which we're approved for $1,000 lines of credit. 

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If you dont mind me asking which Amex card you applied? Their underwriting is stricter with BCE and BCP when compared to other cards. I started with 2k on my BCE and now at 32k in 2.5 years, so if yours is BCE and if you treat it nicely you can grow CLI's 9x within a year.

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Agreed! I started with $2K also and now I'm at $18K. Don't get discouraged. It will happen. I wasn't approved for my first CLI either.