Money Tips: Net Worth Not a Factor in Credit Card Approval

Posted On: January 17, 2007

Guest: angelo21
Post subject: Net Worth Not a Factor in Credit Card Approval
Posted: Wed Jan 17, 2007 3:34 pm

Chazmanian wrote:

Angelo, Over my past year of “Lurking” prior to coming out of my proverbial closet and posting I did manage to glean one fairly consistant factoid from this forum….

Both The Fenster and Harry have good sound knowledge and understanding of most things credit related.

You can learn a buncha good stuff here from these Gents and the other fine contributers here!

I also thought that Employment surely has something to do with our overall credit worthiness.

After reading this thread… I realize that I too thought wrong

I concur. They are highly knowledgeable and I’ve learned much. Let’s move on.

Guest: Ira
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Jan 17, 2007 10:20 pm

Interestingly one item that’s never ever considered by lenders is net worth. You can have $10,000,000.00 in the bank and if your report has a few nastys you can be turned down for a credit card or given a laughably small credit limit. Tell me that makes any sense.
_________________
Do not let what you cannot do interfere with what you can do.

Ira

Last edited by Ira on Thu Jan 18, 2007 4:41 pm; edited 1 time in total

Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Wed Jan 17, 2007 10:37 pm

Ira wrote:
Interestingly one item that’s never ever considered by lenders is net worth. You can have $10,000,000.00 in the bank and if your report has a few nastys you can be turned down for a credit card or given a laughable credit limit. Tell me that makes any sense.

POINT OF FACT…

Somebody on another board went to TARGET with a friend

The friend has a net worth $1,000,000+

The friend applied for TARGET GUEST

The one that everybody gets $200

The friend was DENIED

Guest: LustfortheMoment
Posted: Wed Jan 17, 2007 11:15 pm

Quote:
if you stated an income in the 6 figures and you’re financing a $300 1979 Vega, the card issuer will be on to you.

Hey, hey, hey, Fenster. I’ve always been granted high credit lines, and my ‘79 Vega is in MINT condition ………