Actuarial Outpost
 
Go Back   Actuarial Outpost > Cyberchat > Non-Actuarial Topics
FlashChat Actuarial Discussion Preliminary Exams CAS/SOA Exams Cyberchat Around the World Suggestions



Reply
 
Thread Tools Search this Thread Display Modes
  #1  
Old 01-10-2019, 03:27 PM
hostess's Avatar
hostess hostess is offline
Member
CAS
 
Join Date: Aug 2018
Posts: 396
Default I was approved for 8k on Wells Fargo propel card as a student

I make 0 dollars a year currently and I went to a WF branch and applied for the propel card. I said I'm a student and have no job currently and the lady said do your parents give you money, and i said yeah, she asked "how much", and I said "as much as i ask", and she said "if you ask for 10k, would they give it to you", and i said "probably". and poof, I got approved I got approved for a 8k limit (and I already had 4k with all my other credit cards).

Is this unethical on her part? I'm sure she just wanted to collect some commission. What happens if I have to default... is the bank gonna blame me and said I lied on the application (im assuming the agent put down 10k monthly income on the application) or would I have a case against the agent?

That being said, I did have good credit to begin with (8 month credit history and between 720 and 750 FICO score). How do I have a total of 12k credit limit with no income and 8 months of credit history?
Reply With Quote
  #2  
Old 01-10-2019, 03:34 PM
The Disreputable Dog's Avatar
The Disreputable Dog The Disreputable Dog is offline
Member
CAS
 
Join Date: Dec 2011
Studying for prelims
College: Somersby School
Favorite beer: Worldwide Stout
Posts: 978
Default

She probably opened five savings accounts for you too.

I was always amazed at how much credit was issued to me in college too.
Reply With Quote
  #3  
Old 01-10-2019, 03:37 PM
hostess's Avatar
hostess hostess is offline
Member
CAS
 
Join Date: Aug 2018
Posts: 396
Default

Quote:
Originally Posted by The Disreputable Dog View Post
She probably opened five savings accounts for you too.

I was always amazed at how much credit was issued to me in college too.
wont be surprised if theres another lawsuit against WF...
Reply With Quote
  #4  
Old 01-10-2019, 03:40 PM
The Drunken Actuary's Avatar
The Drunken Actuary The Drunken Actuary is offline
Member
CAS SOA Non-Actuary
 
Join Date: Nov 2001
Favorite beer: Early and Often
Posts: 84,793
Default

What could go wrong?
__________________
I think the dollar will crash irreparably by 2012.... bottom drops out of the dollar. ....Dollars are worthless, 401ks are bust, the markets are valueless...government assumes control over all industry and everything is nationalized by the end of 2012. - gomer_tree
Reply With Quote
  #5  
Old 01-10-2019, 03:41 PM
JollyGoodFCAS's Avatar
JollyGoodFCAS JollyGoodFCAS is offline
Member
CAS AAA
 
Join Date: Dec 2006
Location: Earth (most of the time)
Favorite beer: Beer-Sheva
Posts: 33,733
Default

WTF WF?
__________________
Quote:
Originally Posted by lit041000 View Post
FCAS is the yoda of puns. He sprinkles little treasures when the pun gods smile upon us
Reply With Quote
  #6  
Old 01-10-2019, 03:42 PM
ao fan's Avatar
ao fan ao fan is offline
Member
 
Join Date: Apr 2007
Location: hating the ao
Posts: 104,253
Blog Entries: 1
Default

I think it's easier to get a credit card while in college with no job than it is when you get out of college with a job, but no credit history. they really wanna get people in college so they continue with them for life I think.

I got my first credit card after college and they made me secure it. I had a job, but no credit history.
__________________
Be prepared to be overwhelmed by cuteness!!!!
Spoiler:
awesome, crazy, badass maltese (compliments of booger):
Spoiler:
Reply With Quote
  #7  
Old 01-10-2019, 03:43 PM
glassy glassy is offline
Member
Non-Actuary
 
Join Date: May 2015
Posts: 3,981
Default

Ah, the good ole days. I think my first CC was in college, a CapitalOne with a $500 credit limit.... that I proceeded to max out on PartyPoker deposits.
Reply With Quote
  #8  
Old 01-10-2019, 03:47 PM
JFG's Avatar
JFG JFG is offline
Member
SOA
 
Join Date: Aug 2016
Favorite beer: Fat Tire, Corona
Posts: 5,761
Default

I thought this was a L30 thread at first.
Reply With Quote
  #9  
Old 01-10-2019, 03:50 PM
hostess's Avatar
hostess hostess is offline
Member
CAS
 
Join Date: Aug 2018
Posts: 396
Default

Quote:
Originally Posted by JFG View Post
I thought this was a L30 thread at first.
Thanks Iím honored
Reply With Quote
  #10  
Old 01-10-2019, 03:51 PM
hostess's Avatar
hostess hostess is offline
Member
CAS
 
Join Date: Aug 2018
Posts: 396
Default

Quote:
Originally Posted by ao fan View Post
I think it's easier to get a credit card while in college with no job than it is when you get out of college with a job, but no credit history. they really wanna get people in college so they continue with them for life I think.

I got my first credit card after college and they made me secure it. I had a job, but no credit history.
But 8k limit??? Sure hope someone’s getting fired for this blunder. Dude that built the model probably doesn’t have predictive modelling certificate from iCAS.
Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -4. The time now is 10:44 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
*PLEASE NOTE: Posts are not checked for accuracy, and do not
represent the views of the Actuarial Outpost or its sponsors.
Page generated in 1.04591 seconds with 11 queries