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Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: A CAP1 First!!!


gettnthere wrote:

LS2982 wrote:

gettnthere wrote:

Ok, so I know some of you guys are following the Cap1 threads. If you have you know that I got a call back from the Exec office last week concerning my call to them this past July. They surprised me with the call, as I thought the CLI denial in July was the last I was gonna hear from them. SO, you can imagine my shock today when they call back to tell my they have processed my CLI and its APPROVED -PENDING!!! You guys will NEVER guess what the PENDING part is about.....CAP1 is actually doing the equivalent of an AMEX F/R to me. They are Requesting last years bank statements, Current pay stubs and Bank statements! I couldn't believe it. I've never heard of CAP1 requesting this sort of info from card holders. Of coarse, it is at any banks discretion to do so, but I mean come on....CAP1, never heard of them doing it....how about you guys? IM really not against it because I can prove all of what I claimed, Income, current employment, assets, etc etc. Heck I even claimed less income than what I actually make when Cap1 asked for it last week. It just really threw me for a loop, coming way out of left field.lol. So I want to ask you guys something. Would YOU submit all this info to Cap1 for a CLI? Like I said, I am not against it, its just a headache and ALOT of paper work that's gonna have to be retrieved and faxed and so on and so forth. I am just trying to decide if it is worth it or not? You guys help me out here? Throw me all your opinions and what you would do in this situation!


They can take their sub-prime plastic and put it where the sun don't shine if they ever asked me for any of that!! :smileyvery-happy:

 


She said that it may be only 1 of these things or all 3, she couldn't be certain yet. I am going to be receiving a letter in the mail within 7 days detailing the information they are seeking. If its only 1 of the 3 things, I may do it but IM certain IM gonna say screw it if they are asking for a 3, esp for a silly CLI. That's really sensitive info and cap1 is diving deep into my financials. It is most certainly ODD. Definitely Do Not know why they are doing this to me.


-How long have you had the card?

-Did you have a history of running it up and PIF??

-Ever miss a payment/late/any AA at all?

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: A CAP1 First!!!


LS2982 wrote:

gettnthere wrote:

It is indeed VERY strange. I have actually now been put into direct contact with the Senior U/W team and been given their direct fax # to send documents to. The Exec Office Rep said that between the U/W's and me, we should be able to handle it now. But if I THOUGHT something was taking too long or something didnt sound right to me, she wanted me to give her a call back at her office so she could step back in and act on MY behalf, but she did not foresee us having a problem bc I "seemed" like a nice person and the senior U/W team is a "joy" to work with. The rep honestly acted like she would "defend" me if i had ANY (she kept emphasizing that word lol) problems. I can honestly say im dumbfounded and speechless at these recent events.


IMO it isn't worth it, but this is your account and it all depends on how you personally feel about it. I would take it as an insult if a creditor asked me for such things with my current payment history and other accounts in good standing.

 


LS, Im leaning that way as well, but we shall see exactly what they are requesting when the letter comes.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: A CAP1 First!!!


navigatethis12 wrote:

This is really not much different than American Express and people tolerate that. At least they only want statements and pay stubs. Any lender would have reason to ask for this information if they are not sure that you have the cash flow to pay off the increase.


I guess thats true, but they have no reason to suspect that. I just think it is kinda funny considering its Capital One.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Mega Contributor
LS2982
Posts: 15,434
Registered: ‎04-09-2011
0

Re: A CAP1 First!!!


gettnthere wrote:

navigatethis12 wrote:

This is really not much different than American Express and people tolerate that. At least they only want statements and pay stubs. Any lender would have reason to ask for this information if they are not sure that you have the cash flow to pay off the increase.


I guess thats true, but they have no reason to suspect that. I just think it is kinda funny considering its Capital One.


I would have a problem with AMEX asking me too but I would at least give it thought with them, not with Cap1. Were not even talking about a prime card, a rebuilder card CLI.

 

H E L L N A W!!!!!!!!

 




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: A CAP1 First!!!

Nah... I wouldn't do it, but that's just me... I've maxed out my card several months in a row and pif and stilll no cli since 1300.
Sure, I get that as a bank, they need proof ....no big deal.... But if you have a good credit history, they should be able to see that you can pay on time and not default, and given capital one's HISTORY with YOU as a DEBTOR and customer, I'd agree with LS last statement....!!!!!! If Amex fr'ed me, that'd be okay I guess. A credit history is there to prove you are creditworthy... What more do they need to do a cli or approve you than a stellar credit history??!?

Meh, up to you though.
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: A CAP1 First!!!


LS2982 wrote:

gettnthere wrote:

LS2982 wrote:

gettnthere wrote:

Ok, so I know some of you guys are following the Cap1 threads. If you have you know that I got a call back from the Exec office last week concerning my call to them this past July. They surprised me with the call, as I thought the CLI denial in July was the last I was gonna hear from them. SO, you can imagine my shock today when they call back to tell my they have processed my CLI and its APPROVED -PENDING!!! You guys will NEVER guess what the PENDING part is about.....CAP1 is actually doing the equivalent of an AMEX F/R to me. They are Requesting last years bank statements, Current pay stubs and Bank statements! I couldn't believe it. I've never heard of CAP1 requesting this sort of info from card holders. Of coarse, it is at any banks discretion to do so, but I mean come on....CAP1, never heard of them doing it....how about you guys? IM really not against it because I can prove all of what I claimed, Income, current employment, assets, etc etc. Heck I even claimed less income than what I actually make when Cap1 asked for it last week. It just really threw me for a loop, coming way out of left field.lol. So I want to ask you guys something. Would YOU submit all this info to Cap1 for a CLI? Like I said, I am not against it, its just a headache and ALOT of paper work that's gonna have to be retrieved and faxed and so on and so forth. I am just trying to decide if it is worth it or not? You guys help me out here? Throw me all your opinions and what you would do in this situation!


They can take their sub-prime plastic and put it where the sun don't shine if they ever asked me for any of that!! :smileyvery-happy:

 


She said that it may be only 1 of these things or all 3, she couldn't be certain yet. I am going to be receiving a letter in the mail within 7 days detailing the information they are seeking. If its only 1 of the 3 things, I may do it but IM certain IM gonna say screw it if they are asking for a 3, esp for a silly CLI. That's really sensitive info and cap1 is diving deep into my financials. It is most certainly ODD. Definitely Do Not know why they are doing this to me.


-How long have you had the card?

-Did you have a history of running it up and PIF??

-Ever miss a payment/late/any AA at all?

 


-How long have you had the card? A little over 3 years now

-Did you have a history of running it up and PIF?? Actually both, some months i would run it up to the limit an PIF and others i would carry a balnce but pay more than the minimum. I Ever carry a balance anymore, i was just doing it to try and figure out the CLI thing and why i was not getting one

-Ever miss a payment/late/any AA at all? Technically noaccording to all the reps I have ever spoken to (its been alot) my account has ALWAYS been in good standing, even the Exec office said so, they show that i have Never made a late payment. BUT I know for a fact 3 years ago, when i first got the card, I made an online payment the day the bill was due and it did not post until the next do or 2. There was a late fee processed to my account but it disappeared a couple days later without my calling or asking. never heard anything of it since.



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Established Contributor
gettnthere
Posts: 912
Registered: ‎06-14-2012
0

Re: A CAP1 First!!!


LS2982 wrote:

gettnthere wrote:

navigatethis12 wrote:

This is really not much different than American Express and people tolerate that. At least they only want statements and pay stubs. Any lender would have reason to ask for this information if they are not sure that you have the cash flow to pay off the increase.


I guess thats true, but they have no reason to suspect that. I just think it is kinda funny considering its Capital One.


I would have a problem with AMEX asking me too but I would at least give it thought with them, not with Cap1. Were not even talking about a prime card, a rebuilder card CLI.

 

H E L L N A W!!!!!!!!

 


:smileyvery-happy: agreed!



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 :smileywink:
Senior Contributor
youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
0

Re: A CAP1 First!!!

Also ... With C1, you could give them that info., and they would stillllllll deny you!!!!! That's what I'd be concerned with more than anything.

Btw, back in '06... They asked my mom for her tax returns( she makes a little less than $100k). We sent them in, and she only got a $500 limit... Seems like more of a hassle to me:-/
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $10k | West Elm $4k| Express $3.05K | Mypoints.com Visa $4.5k | Freedom Visa $1k| Amex Surpass $1k
Moderator
Revelate
Posts: 9,634
Registered: ‎12-30-2011
0

Re: A CAP1 First!!!

Having worked in subprime lending previously, I assure you that other lenders do this.

 

Even traditionally non-subprime lenders, I had to provide proof of income for a *secured* card from DCU.

 

Also FWIW, paystubs (no biggie) and bankstatements (OK a little more unreasonable) are nowhere near as invasive as an Amex FR unless you're self-employed where you have to fork over tax returns anyway to prove income typically.  

 

Personally I don't see any big deal with this as long as I get the tradeline I want... and if I didn't want the tradeline or CLI, I wouldn't have applied in the first place.  It's the lender perogative to ask for supporting documentation and in these days of fraud being more common than it likely should be, I don't have any issue with this if it helps cut down on that.  When you're asking a traditionally subprime lender for things, don't be surprised when you get subjugated with traditionally subprime practices... and I think in today's society and economy there will be more and more lenders doing this eventually.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Valued Contributor
navigatethis12
Posts: 1,951
Registered: ‎01-24-2012
0

Re: A CAP1 First!!!

I was not exactly happy when American Express asked for tax returns but I figured it's one very short form to fill out so here goes. The accounts stayed open and in my opinion that is better than them being closed because I refused to comply.


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