This is pretty nice for little it shows. I can see you have a good eye for the overal piece and you have full control of your work.
I do have my doubts that it is acceptable, because it is so simple. I mean, you used a simple brush for the main element, while mny others would vector it instead. Brushes aren't always available, so I have to say that you were lucky to find one especially in very good quality. Because it is a brush, I am leaning no for effort, but it is good quality and composition, so I don't want to punish you.
The text is alright. I think it is better without or with a blocky all caps or small caps font.
If you plan to make more of these types, perhpd you may consider adding more and changing the style. This one is minimalistic and grungy, maybe next time you want it sharp and illuminating. I also suggest that you try learning some basic vectoring. It's not just easier for credits, but also to improve yourself. If you are going to make certain elements or backgrounds it really helps to have some vector experience.
One more thing, link sources used please ^^;