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Another point thou, if your cards have only $2k limit .. the income needed to support such a low limit isn't that much .. unless you made absolutely 0 last year, you probably stand a chance. You exaggerated, yes.. but they take into account.. what limit your Actual real income would have qualified you for; assuming ofcourse everything is good with your credit.
i am curious of the outcome OP, if you do go through with the review. good luck to you.
i got Financial Review last week, and i gave them the form 4506T 1 week later back to normal, i told them that i make $105,000 wich is true but i only report under $30,000 and they let me keep both card... also they want 2011 tax year..just give it to them it will be fine
@LS2982 wrote:
Youll likely be FRed immediately after approval for future cards.
And that might be OK, when you apply you can supply the real earnings figure supported by your taxes and thus pass that FR.
A lot depends on your situation, if the 6K is a large portion of your CL, you might want to comply and see what happens, but otherwise it may not be worth it, since a) you lied on the form, and b) use cash equivalents to generate spend
so you are not in a great position!
This thread is a cautionary tale that should be read by everyone. Most of us here like playing the credit card game and getting the best deal for your financial situation. But lying on an application about income or other things is a recipe for disaster. Don't forget that these banks are lending us their money. And they do have a right to know who they are lending to and their ability to repay. Some people say that F/Rs are too intrusive. Honestly, they don't happen that often and any of the lenders have a right to do it...it's just Amex that's more known for it. And honestly, a F/R is a way to verify that the customer is in a good standing as opposed to just closing the account without warning, which some other banks have been known to do.
I'd just send them the 4506T, be prepared to answer their questions, be honest with them, take your medicine and move on. And yes, Vanilla Reloads do attract attention.
@Sevenfeet wrote:This thread is a cautionary tale that should be read by everyone. Most of us here like playing the credit card game and getting the best deal for your financial situation. But lying on an application about income or other things is a recipe for disaster. Don't forget that these banks are lending us their money. And they do have a right to know who they are lending to and their ability to repay. Some people say that F/Rs are too intrusive. Honestly, they don't happen that often and any of the lenders have a right to do it...it's just Amex that's more known for it. And honestly, a F/R is a way to verify that the customer is in a good standing as opposed to just closing the account without warning, which some other banks have been known to do.
I'd just send them the 4506T, be prepared to answer their questions, be honest with them, take your medicine and move on. And yes, Vanilla Reloads do attract attention.
Completely agree! Also, for those of you who use AP to generate spend... that attracts attention too.
This is going to be a dumb question but what is a, "Vaniella Reload ?" Don't want to use my work computer to Google it since I don' t know what it is. Lol.
Basically a pre-paid debit card.
People use them to meet spend requirements and get "free" points. You buy them at grocery stores/drug stores that typically give higher rewards points amount and then use them elsewhere to effectively get the higher reward amounts on all of their purchases. This practice is forbidden by the CC companies and fairly easy to catch but people do it anyway, for some reason!