Fantastic video, definitely subbing! I do have a few questions about approval odds based on things like income. Can you get approved with a relatively low income? I just finished my freshman year and started working in early June at about $15 an hour, so I estimate just under 20k for my gross annual income working full time in the summers. I do get a $500 monthly stipend from a 529 account for living expenses and have my rent paid monthly from the same 529, but I've read some places that I wouldn't be able to include those on my application since I'm under 21. Would ~20k gross income and a 770 experian Fico 8 (768 equifax 748 transunion) likely qualify me for the card? I'm completely fine with a low credit limit because of the bilt protect system, and since I've only used a $500 CL secured card up until now. Sorry for the whole book. I'm just curious to see how other college students got approved since I can't really find any examples in forum posts! I appreciate any feedback greatly and, again, AMAZING video!
Hi there, sorry for the delayed response. My sister was in a similar situation as you when she applied for the card. One of the main things they look at for your monthly income is if you can make more than how much your rent costs. If you don't have enough left over money after rent then they will deny you getting approved. For me I made a decent amount more than my rent costs and I got money from my student loans to cover housing which I included in my application to get the Bilt card. When I applied, it was still a newer card, so they might be more selective with who they approve now. But as long as you haven't gotten denied a lot recently from other credit cards, I don't think it hurts to try!
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Fantastic video, definitely subbing! I do have a few questions about approval odds based on things like income.
Can you get approved with a relatively low income? I just finished my freshman year and started working in early June at about $15 an hour, so I estimate just under 20k for my gross annual income working full time in the summers.
I do get a $500 monthly stipend from a 529 account for living expenses and have my rent paid monthly from the same 529, but I've read some places that I wouldn't be able to include those on my application since I'm under 21.
Would ~20k gross income and a 770 experian Fico 8 (768 equifax 748 transunion) likely qualify me for the card? I'm completely fine with a low credit limit because of the bilt protect system, and since I've only used a $500 CL secured card up until now.
Sorry for the whole book. I'm just curious to see how other college students got approved since I can't really find any examples in forum posts! I appreciate any feedback greatly and, again, AMAZING video!
Hi there, sorry for the delayed response. My sister was in a similar situation as you when she applied for the card. One of the main things they look at for your monthly income is if you can make more than how much your rent costs. If you don't have enough left over money after rent then they will deny you getting approved. For me I made a decent amount more than my rent costs and I got money from my student loans to cover housing which I included in my application to get the Bilt card. When I applied, it was still a newer card, so they might be more selective with who they approve now. But as long as you haven't gotten denied a lot recently from other credit cards, I don't think it hurts to try!