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Are the approval rates that harsh? It never seemed that way to me. Anecdote: I applied in 2019 when it first came out, and hadn't had a credit card in several y

by aseipp 3y ago

Are the approval rates that harsh? It never seemed that way to me. Anecdote: I applied in 2019 when it first came out, and hadn't had a credit card in several years, and my credit score was, to my knowledge, pretty much shit and non-existent; the only reason I even tried to apply was because I had a good paying job at the time, and it was like 2 button clicks to try it, so I figured "why not, I should probably get one". I got approved for $250/month within 5 minutes and was able to use it via NFC at the store within 5 minutes of that. I was fairly surprised actually. But you're otherwise spot on. Because I'm an American tech worker, I've never missed a payment the whole time I've had it, or even had to worry about it much. It's been great for my credit score and I've literally paid zero interest on it, ever.

Detrytus 3y ago
>> I got approved for $250/month within 5 minutes So you just needed some spare change to spend in AppStore? Try adding one or two zeroes to it, and see if you get approved then :)
- aseipp 3y ago
  Well, the limit is much higher now, I can tell you that, but that's only because I just never missed a payment for a few years. They expanded my limits pretty quickly. I mostly didn't use credit cards before that when I made less money (and was younger and dumber), so there wasn't much credit history. But then why approve me quickly to me if they only were giving me something that low in the first place? FWIW, I knew several people who got approved around the same time, but only in the $800-$2000 range. I saw it as no harder or easier to get than an average card, I guess is my point. It might have been first mover advantage, when it first launched. Or maybe it's one of those things where you can make it over the gate if you're in the far tail ends on the left or right, but if you're just in the middle of the road credit wise, it's easier to get denied? Credit scores and the like are mostly a bullshit mystery, in my opinion.

by aseipp 3y ago

Detrytus 3y ago

>> I got approved for $250/month within 5 minutes So you just needed some spare change to spend in AppStore? Try adding one or two zeroes to it, and see if you get approved then :)

aseipp 3y ago
Well, the limit is much higher now, I can tell you that, but that's only because I just never missed a payment for a few years. They expanded my limits pretty quickly. I mostly didn't use credit cards before that when I made less money (and was younger and dumber), so there wasn't much credit history. But then why approve me quickly to me if they only were giving me something that low in the first place? FWIW, I knew several people who got approved around the same time, but only in the $800-$2000 range. I saw it as no harder or easier to get than an average card, I guess is my point. It might have been first mover advantage, when it first launched. Or maybe it's one of those things where you can make it over the gate if you're in the far tail ends on the left or right, but if you're just in the middle of the road credit wise, it's easier to get denied? Credit scores and the like are mostly a bullshit mystery, in my opinion.