Credit Tips: Income Varification Tips for Credit Cards

Posted On: December 22, 2006

Author: artcubed
Posted: Fri Dec 22, 2006 10:10 pm
Post subject: AMEX income verification - F/R @ Application

About two months ago, I got denied for an american express green rewards card that I applied for.

Three weeks later I got a preapproval offer in the mail for - guess what? An amex green rewards card! I threw it away thinking they made some mistake.

Then one the next week, and another the next week. Last week, I finally responded to it, thinking they wouldn’t send me three of these things and deny me…

I responded to it, and today, I get an e-mail telling me to check the status of my application online, because more information was required. The information they want:
On official letterhead, my total annual household income, and the source of income, with my name and address on it. This information can only come from one of three places: An accountant, broker, or attorney.

I called them to ask them if W2’s & 1099’s, tax returns, or letters from my employers would be enough. They said nope, only from your accountant, broker or attorney.

Has anyone else heard of this? Isn’t it strange where they want the info from? Why not my employer, why not the IRS?

Author: mouse
Posted: Fri Dec 22, 2006 10:17 pm
Post subject: Re: AMEX income verification - F/R @ Application

artcubed wrote:
About two months ago, I got denied for an american express green rewards card that I applied for.

Three weeks later I got a preapproval offer in the mail for - guess what? An amex green rewards card! I threw it away thinking they made some mistake.

Then one the next week, and another the next week. Last week, I finally responded to it, thinking they wouldn’t send me three of these things and deny me…

I responded to it, and today, I get an e-mail telling me to check the status of my application online, because more information was required. The information they want:
On official letterhead, my total annual household income, and the source of income, with my name and address on it. This information can only come from one of three places: An accountant, broker, or attorney.

I called them to ask them if W2’s & 1099’s, tax returns, or letters from my employers would be enough. They said nope, only from your accountant, broker or attorney.

Has anyone else heard of this? Isn’t it strange where they want the info from? Why not my employer, why not the IRS?

F/R FOR A NEW GREEN APPLICATION???

MY RESPONSE WOULD BE…NO THANK YOU

Author: hdporter
Posted: Fri Dec 22, 2006 10:39 pm
Post subject: Income Varification Tips for Credit Cards

Ditto, mouse. Someone would really have to be jonesin’ for a card to jump through those rediculous hoops. (And should feel like a trained seal, if they do so … apologies to anyone offended — and I’ll make an allowance for any situation where there is serious value to be had from the card.)

Author: mouse
Posted: Fri Dec 22, 2006 10:44 pm
Post subject:

THEY ARE BEING BOLD HERE

They usually had waited for many months or even years before they CUT YOU OFF WITH-OUT NOTICE THEN DID A F/R ON YOU

Author: Polonius
Posted: Sat Dec 23, 2006 2:44 am
Post subject: Income Varification Tips for Credit Cards

Hard to believe, frankly. How would a lawyer or broker know anything for sure about your income? My lawyers and brokers only know what I’d tell them–they have no way to verify if I’m telling them the truth. An accountant MIGHT–or might not. Since AmEx usually requests permission to get your tax returns directly from the IRS for a financial review, why would it make this strange request for a new application?

Are you sure you’re dealing with American Express? Is there something very unusual about the information you put on your application?