navigatethis12 wrote:
cashnocredit wrote:It's widely believed that if you are under 21 you have to provide income verification. In fact you only have to provide a written statement of personal income and/or assets that indicate an ability to make minimum payments on the card. Check out the CFPB's rulemaking on this. It's not nearly as restrictive as one might think. They are also addressing the issue of non-working spouses and increasing the flexibility to encompass funds normally availalbe. For instance, joint checking where the paychecks of the working spouse are deposited into the joint account.
A written statement seems insufficient in my opinion. I am not saying you are wrong, but couldn't anyone write that they have the income even though they do not?
Many banks require more than that but they aren't required to. Amex, because of it's history as a spend centric charge card vendor, is really the most aggressive with FRs. since their average customer spends about 3x each month that of regular CC customers.
I have reestablished credit over the last couple years
From what i have seen amex does not accept anything less than your tax returns when doing an FR, You put an income from what you "expect" to make this year which is not what amex is asking for and unless you can provide concrete evidence of the income i don't think amex will accept it, especially since you don't have any tax returns to back it up.
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