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Established Contributor
masscredit
Posts: 597
Registered: ‎07-17-2012

Approved but... Looking for advice

I was recently approved for a credit card but they want proof that a tax lien from a few years was paid off before they complete the process.  It hasn't been paid and won't be anytime soon. I told them that I have a letter from the IRS that says they have suspended collection activities for now but might reopen them in the future.  The rep that I talked to told me to send the letter over and see if that will be accepted.  The amount that they show for that lien is $12k.  That letter covers all of my IRS liens and shows a total of about $23k. 

 

Do I just let it go or send the letter over?  I'm thinking that they might just show the recent lien amount of $12k but with the letter, they will know that the total for all years is higher and that won't help me with them in this case or in the future.

 

What do you think?

 

 



|****$5500****|****$4500*****|****$2500*****|****$1600****|****$3000****|*****$750******|*****$700*****|
EX - 680 (Credit Sesame 03/02/14) TU - 665 (Walmart 04/05/14 ) EQ - 691 (FICO -04/05/14)
Regular Contributor
Jasir
Posts: 222
Registered: ‎04-05-2013

Re: Approved but... Looking for advice

Please clarify something: are you definietly approved already or are you pending approval to be determined by said letter?


Gardening since Jan 1, 2014 (last app Dec 31, 2013)

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Valued Contributor
SnackTrader
Posts: 1,533
Registered: ‎09-15-2012

Re: Approved but... Looking for advice

It sounds like you may be declined if you do not provide any proof. But, you're right in thinking that the letter may get you into additional trouble. You should ask what would happen if you don't provide the letter - if the answer is we won't give you the credit card, then you might as well take your chances by sending them the letter.
In My Wallet: Amex BCP (12/12) $22.200, Chase CSP (4/14) $12,000, Barclaycard Arrival (5/13) $10,500, Citi Forward (12/12) $9,600, Cap1 Cash Rewards (6/12) $9,000, Chase Freedom (12/12) $5,000

Last App: April 2, 2014
Established Contributor
masscredit
Posts: 597
Registered: ‎07-17-2012

Re: Approved but... Looking for advice

I was a little confused by it too.   The person at the bank said that I was approved but I just needed to provide them with documentation to show that the lien was paid off. I guess they presumed that it is.  To me, I don't consider it approved until I have a card in hand.  I told her that it isn't paid and that they are no longer pursuing collections so she told me to send that letter in.  I'm trying to build a relationship with the bank so I don't know if giving them the letter that says that but also states that I owe about $10k more than they think is going to help. 

 

On one hand, I think the card will grow if I get it.  On the other hand, I won't lose any sleep if I don't get it. 

 

 



|****$5500****|****$4500*****|****$2500*****|****$1600****|****$3000****|*****$750******|*****$700*****|
EX - 680 (Credit Sesame 03/02/14) TU - 665 (Walmart 04/05/14 ) EQ - 691 (FICO -04/05/14)
Established Contributor
masscredit
Posts: 597
Registered: ‎07-17-2012

Re: Approved but... Looking for advice

I was thinking about it some more today. I think I will send the letter in.  They mentioned that the lien was fairly large and they had the numbers associated with it so they probably know about the other 3. They are all listed on my credit report. So I don't think it will hurt to send that over to them. 



|****$5500****|****$4500*****|****$2500*****|****$1600****|****$3000****|*****$750******|*****$700*****|
EX - 680 (Credit Sesame 03/02/14) TU - 665 (Walmart 04/05/14 ) EQ - 691 (FICO -04/05/14)
Moderator
09Lexie
Posts: 22,437
Registered: ‎09-13-2012

Re: Approved but... Looking for advice

Regular Contributor
Jasir
Posts: 222
Registered: ‎04-05-2013

Re: Approved but... Looking for advice

I think you have made the right choice and hope it pays off. Good luck!


Gardening since Jan 1, 2014 (last app Dec 31, 2013)

Amex BCE: $6000 - Bank of America Cash Rewards: $3500 - Barclaycard Rewards: $2050 - Chase Freedom: $1700 - Discover IT: $1200 - Walmart Store: $800 - Chase Slate: $1000 - CLOSED

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