Credit Card Application Questions
Guest: usmsci
Credit Expert (100+ Posts)
Post subject: Credit Card Application Questions
Posted: Thu Jul 27, 2006 1:25 pm
i was visiting a borders bookstore out of town a few weeks ago but i dont know off hand if i applied for an application or not.. i really dont remember if i did..i should look at all my credit reports though.
anyway someone(non english accent) called me asking they were processing my application and needed to verify some information such as income, a few items on my credit report such as what was a certain account and what was it for. For example an amount of a new account was my HELOC and she asked me what i used it for. in my mind i was thinking.."what difference does it make?". then she asked me about my derogatory marks on my account and after she mentioned a certain one, a bounced check from wal-mart back in 2001, i knew which CB she was looking at. she was insisting that i paid it just last year when i know i paid it long before that.. more like 2002 or 2003 when i found out it was even in my credit report in the first place. The she asked my about a settlement with another credit card(cross country bank) that i had back in 2001 or 2002 and was wondering why i was late on that card etc etc.
The she asked me for my address and promptly i hung up on her..either this was some sort of scam to get info from me or i was being bagered for just filling out a certain application that i dont remember filling out. maybe i should double check just to make sure. or maybe i should call borders. either way i hung up on her..
what is your take? is there anyone , like a scam artist to get a copy of your credit report? she had all the dates/accounts and amount right it just seemed fishy anyway. i dont care, they can give me credit or not, i dont want an account with borders books if they are going to make that big of a deal out of bad account that was 4 - 5 years ago. Plus they call me at work and i am not going to discuss these matters with other people listening.
so what do you think of all this mess? thanks!
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Guest: hesiden
Credit Expert (100+ Posts)
Posted: Thu Jul 27, 2006 3:54 pm
I dobut it was a scam since they seemed to already have your info.
You can check by calling Chase (they are the issuer of the boarders credit card) and check of the status of your app.
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Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Jul 27, 2006 6:44 pm
The person calling you had your information already--so how could it be a scam? All she was doing is verifying some stuff and getting more information. She asked for your address to verify the address on your application. She HAD your business phone number!
I understand your concerns, really--but you did apply for the card. When she called, you could have said "I'd prefer to call you back at a more convenient time--what is YOUR number?' or "I'm busy now; please call me at home at 6 PM" or whatever. If you don't want to answer their questions, say that you don't want to give out such information over the phone or that you consider it private. There's nothing wrong with asking you for information; there's nothing wrong with you declining to give the information either. Up to you.
Quote:
my HELOC and she asked me what i used it for. in my mind i was thinking.."what difference does it make?"
I've been asked the same question. My understanding is that if you answer "I used my HELOC money to pay off gambling debts with loan sharks and for drugs and hookers" you tend not to get the card. If you say "I used it for substantial remodeling to improve the value of my property" you tend to get the card. Seriously, the answer matters because the credit analyst wants to get a feel for how you are handling your finances. Frivolous spending of your home equity might get you into a deep hole and bankruptcy. Emergency spending "My wife is ill and we're paying for her terminal care" is acceptable morally but not a good sign of financial stability. Answers saying you were using the money to increase your assets are good answers.
Good answers don't have to be true, of course.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Thu Jul 27, 2006 8:57 pm
you make me laugh sometimes...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Credit Card Application Questions
Posted: Thu Jul 27, 2006 1:25 pm
i was visiting a borders bookstore out of town a few weeks ago but i dont know off hand if i applied for an application or not.. i really dont remember if i did..i should look at all my credit reports though.
anyway someone(non english accent) called me asking they were processing my application and needed to verify some information such as income, a few items on my credit report such as what was a certain account and what was it for. For example an amount of a new account was my HELOC and she asked me what i used it for. in my mind i was thinking.."what difference does it make?". then she asked me about my derogatory marks on my account and after she mentioned a certain one, a bounced check from wal-mart back in 2001, i knew which CB she was looking at. she was insisting that i paid it just last year when i know i paid it long before that.. more like 2002 or 2003 when i found out it was even in my credit report in the first place. The she asked my about a settlement with another credit card(cross country bank) that i had back in 2001 or 2002 and was wondering why i was late on that card etc etc.
The she asked me for my address and promptly i hung up on her..either this was some sort of scam to get info from me or i was being bagered for just filling out a certain application that i dont remember filling out. maybe i should double check just to make sure. or maybe i should call borders. either way i hung up on her..
what is your take? is there anyone , like a scam artist to get a copy of your credit report? she had all the dates/accounts and amount right it just seemed fishy anyway. i dont care, they can give me credit or not, i dont want an account with borders books if they are going to make that big of a deal out of bad account that was 4 - 5 years ago. Plus they call me at work and i am not going to discuss these matters with other people listening.
so what do you think of all this mess? thanks!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: hesiden
Credit Expert (100+ Posts)
Posted: Thu Jul 27, 2006 3:54 pm
I dobut it was a scam since they seemed to already have your info.
You can check by calling Chase (they are the issuer of the boarders credit card) and check of the status of your app.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Polonius
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Thu Jul 27, 2006 6:44 pm
The person calling you had your information already--so how could it be a scam? All she was doing is verifying some stuff and getting more information. She asked for your address to verify the address on your application. She HAD your business phone number!
I understand your concerns, really--but you did apply for the card. When she called, you could have said "I'd prefer to call you back at a more convenient time--what is YOUR number?' or "I'm busy now; please call me at home at 6 PM" or whatever. If you don't want to answer their questions, say that you don't want to give out such information over the phone or that you consider it private. There's nothing wrong with asking you for information; there's nothing wrong with you declining to give the information either. Up to you.
Quote:
my HELOC and she asked me what i used it for. in my mind i was thinking.."what difference does it make?"
I've been asked the same question. My understanding is that if you answer "I used my HELOC money to pay off gambling debts with loan sharks and for drugs and hookers" you tend not to get the card. If you say "I used it for substantial remodeling to improve the value of my property" you tend to get the card. Seriously, the answer matters because the credit analyst wants to get a feel for how you are handling your finances. Frivolous spending of your home equity might get you into a deep hole and bankruptcy. Emergency spending "My wife is ill and we're paying for her terminal care" is acceptable morally but not a good sign of financial stability. Answers saying you were using the money to increase your assets are good answers.
Good answers don't have to be true, of course.
_________________
Polonius
"Neither a borrower, nor a lender be; For loan oft loses both itself and friend"
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: spjoink
Credit Expert (100+ Posts)
Posted: Thu Jul 27, 2006 8:57 pm
you make me laugh sometimes...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 3:32 PM
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