I was looking through this site that tells what credit scores people had when they either got approved or denied for a cedit card. I notice some were saying they got originally approved for $5000, and was $10,000 at activation. Do that mean that after having the card for sometime the credit limit went up to $10,000 or once they activated the card they got a higher limit? What does it mean by activation?
2006-07-10 06:09:05 · 4 answers · asked by tiannabooboo 3 in Business & Finance ➔ Credit
its a tactic used by credit card companies to get someone to take out a credit line with them. they increase the credit limit once the card is finalized and being used by the card holder. sometimes after a certain time period, the credit card company increases the amount depending on your history with them.
2006-07-10 06:15:24 · answer #1 · answered by islandgrl 4 · 2⤊ 0⤋
The original approval was the amount set when they were first approved for the credit card. Activation is when the person receives the actual credit card and activates the account (usually by calling a toll-free automated phone number).
2006-07-10 13:14:37 · answer #2 · answered by Farly the Seer 5 · 0⤊ 0⤋
Most credit card companies will give you a higher limit in the hopes that you'll USE it than carry a balance and pay them a fortune in INTEREST over time. That's why they give more. Activation is merely telling them you received the card in good order and are going to begin to use it.
My advice is to use the credit sparingly as the costs of carrying the debt against it can mount quickly. PEACE!
2006-07-10 13:16:45 · answer #3 · answered by thebigm57 7 · 0⤊ 0⤋
My guess is that they were pre approved for a certain limit. After they did a more extensive credit check after application they found that they could approve them for more credit based on their info.
2006-07-10 13:15:28 · answer #4 · answered by Mom of 5 3 · 0⤊ 0⤋