How credit limit is determined after approval?

[Anonymous]

My friend and I applied for BCP several days ago. I have longer credit history and larger total credit limits than him. Besides I have income while he does not. It turns out we both get approved but his limit was 5k and my limit was 2k. So I am wondering how credit limit is determined? Anyone on this board has any idea or interesting cases to share? Thanks! 

[jboy1972]

You can get approved with no income?

[enharu]

How is your friend approved with no income? So basically he committed fraud by lying on the app?

[Anonymous]

I have income, although not too much.

We are both students. Is this the reason he gets approved? I do not think he lied =). 

[enharu]

I honestly don't see how it's possible to be approved for any credit card, much less by American Express, without having any income. Possible prior to the recession, but certainly not the case nowadays

[HiLine]

Your friend's case is already the most interesting there is. 

Could it be he has a lot of assets and/or is an authorized user on his parents' cards? 

[eviLution]

The answer is he lied about having income and probably a pretty big one too.

[Anonymous]

I think that's perhaps he gets lots of assets. I know he is very rich =). 

But this is not important... Does anybody have any idea on how cl is calculated upon approval? This is what puzzles me. Thanks! 

[eviLution]

Your credit score, income, and length of history.

[myjourney]

Your friend had to state some type of financials on the app question is was it true or not?

Example large bank account, investments something