first college cards & limit

Hi,

Discover was my first card. It started off at 500.

I won't even embarrass myself and tell you what the limit is now. (I am old).
I still have it, but I don't use it much.

 

I applied for 2 cards at the same time in late 1992. One was a Citibank Visa and the other was a Macy's store card. They were both at my college giving away freebies to sign up. O.k. so I needed some t-shirts....big deal! LOL...I was a starving student, can you blame me?

I received the Macy's card with a $300 limit. Immediately upon receiving the card, I ran to the store and bought a $200 Sony cordless phone (what was I thinking??). I still have that phone to this day (in a box out in the garage somewhere).

Citibank sent me a denial letter. I can't remember the reason why but it could of been due to 1 or 2 things. 1. lack of history (I had no credit at the time) or 2. due to a Mervyn's chargeoff (long story...not my fault). I'm not sure what report was pulled. Instead they offered me a secured card application so I filled it out and sent it back w/ a $300 check (from my financial aid money). I received a card and 3 years later it was unsecured and my money was sent back to me. It was supposed to be after 18 months but they claim I made a payment late by like a day or something...o.k. whatever!

I still have both these cards today. Citibank for the most part has been good to me. That same first card that I got has a limit of $1200 as of today (don't ask...sore subject) but yet they'll approve me for 2 AA cards (aka the BDD) and let me combine into one with a $10,500 limit....go figure! Macy's has been more than understanding and has stuck with me through tuff times. I will never get rid of any of these cards. If my credit portfolio was to crumble today, the only ones left standing would be Citibank and Macy's.

 

First card was Discover. $2500 Limit. I had a paid car loan as my only credit. Charged off 3 years later.

 

My first college card was the Bank of America student visa card. I got that card back in 1994 with a $800 credit line and no annual fee. To this date I still have the account open because it is my oldest tradeline. Current APR is 14.2 and limit is still $800. Bank of America claims that they cannot increase the limit because it is a student account and I would have to apply for a regular visa. I told them I am not a student any more and they just say I have to apply for a regular visa. I have maintained a perfect payment history with them for 8 years and I find it strange they don't want to upgrade the card. Oh well, I need the tradeline so it stays open.

 

This spring, my daughter applied online with BofA, got notice that she would get answer in mail.

By letter, she was denied, insufficient credit history. She called customer service, and asked for reconsideration. Approved for 8.9 with 1500 LOC. << She has had open checking with Bof A for 4 years, and she does not have any bounced checks. >>

 

My first card was a Discover when I was a senior in high school. An interest rate of 16.9% and a CL of $1200.

I cancelled it two years later after they raised my rate up to 19%.

Dani

 

I recently applied for the First USA Titanium Student Visa and they gave me a $2500 credit line, which is pretty generous in my opinion for a student card. I hope they aren't as horrible as what some have said. I'll be crossing my fingers.

 

I remember my first day at college, registering for classes, all those CC companies lined up offering free stuff. So began my downward spiral into the bad credit abyss. I got a Chase Visa (1500 limit) and Amex (they said it had no limit). A short time after that I added Filenes and a Mobile card.

What was I thinking I had no income to pay off the charges I was accumulating. Needless to say because of my own irresponsibility all these cards were closed and charged off within 12 months of opening them. Just one of the important lessons I learned in college.

EdG