Ok, i applyed for blue from american express card online, they didnt give me a instant approval, nore deny me, i have just turned 18 yesterday when i applyed, the status is still pending, could this be a good thing? Or are they just reviewing my credit? Or could be a bad thing?
Originally posted by Criminal#58369 Ok, i applyed for blue from american express card online, they didnt give me a instant approval, nore deny me, i have just turned 18 yesterday when i applyed, the status is still pending, could this be a good thing? Or are they just reviewing my credit? Or could be a bad thing?
They are just reviewing your credit, you didn't have a good enough score to get instant approval, nor did you have bad enough to get denied, they will review it and see what your credit history is rather than your actual score at this point, I forget what it is, but I believe a 720+ will get you instant online credit with a low limit like $500 or so, then in like 1-2 billing periods they will jump it high (once you use the real card)
Being 18, and going after AE, I honestly can tell you that you probably will not be getting that card..
Also, unfortunately, sometimes no previous credit history is worse then bad credit. A year ago, I applied for a Visa Card with an income of 40K+/YR and my request was for a $500 CC limit. I just wanted something to start out with so I could start building a credit history for myself. However, I was denied.
See, when students are in College/University they start handing out Credit Cards like crazy because they know the students will end up using these cards and they won't be able to pay back whatever they used so the CC company's will make a good chunk of money off the Interest.
On the otherhand, if they can see that you will be able to pay the credit back without any problems what do they possibly gain?
So two weeks ago I applied for another visa card with another bank for $1500-$2000 credit limit and I was approved two weeks later.
I doubt you'll get your American Express but you never know.
I forgot to answer your initial question. usually this process takes two weeks.
Harh. AM sent an application to a friend who was £23,000+ in debit to other credit card co's. (CCC's) And they accepted his application and gave him a card with £5000 limit.
Guess what - he spent that on a holiday.
He defaulted on that and told Am that he only earned x amount a month and owed other CCC’s £23,000 and would pay them American Express (AE), as he did the other CCC's £10 / month. AE then threatened the County Court. He threatened bankruptcy. They (AE) accepted £10 / month.
I know that Key Bank offers a student credit card. I picked one up awhile back, as I am a college student. The interest rates are disgustingly high, but for a first credit card it won't be too bad. I believe you can sign up for the card on their website as well.