Reply
Contributor
migo13
Posts: 87
Registered: ‎08-17-2012
0

Applying for credit while in the military: Employer Information?

I just commissioned, and I'm stuck in the IRR while waiting for AD orders. I have several questions about applying for credit. Hopefully those who are serving or have served can enlighten me.

 

I've noticed that on some credit card applications employer name is required. For tax purposes, I believe employer name is listed as DFAS.

1. Should I write DFAS or my branch of service?

2. What address do I use?

3. What phone number do I use? 

 

I was hoping I could apply for a couple of cards, then garden during BOLC (OBC). But if they need the address of where my unit is, commander's name, etc. I will not be able to provide that because I don't have a unit yet. Anyone?

Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Applying for credit while in the military: Employer Information?

[ Edited ]

For me i just put employer as USMC and the address as Unit/ camp Lejeune NC. I dont think that part matters nearly as much as your home address. and phone number i put as my office number down where i work. Theyve never called.

 

if youre in the inactive reserves waiting to go active... what are you putting down as your income?

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Contributor
migo13
Posts: 87
Registered: ‎08-17-2012
0

Re: Applying for credit while in the military: Employer Information?

500/month from other sources. 

Would I be better off using my projected income?

Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Applying for credit while in the military: Employer Information?

How bad do you need a cc? Ive heard of instances where banks and credit unions ask for paystubs to verify income. If youre going to get orders soon, I would but if youre unsure of orders have you looked into getting a secured credit card.. do you have any money saved?

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Applying for credit while in the military: Employer Information?

also look into military credit unions like Penfed and Navyfed.. youre more than likely going to get accepted for a Navy Federal card though as Penfeds underwriting criteria is more strict.

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Contributor
migo13
Posts: 87
Registered: ‎08-17-2012
0

Re: Applying for credit while in the military: Employer Information?

I don't need a credit card bad at all, just eager to rebuild. I'm probably better off waiting until orders come in though, at least then I'll have some sort of documentation and could perhaps explain the situation and apply over the phone. I do have a Capital One secured card that I can add money to, but I was hoping to replace it with a prime w/o an annual fee.

Contributor
migo13
Posts: 87
Registered: ‎08-17-2012
0

Re: Applying for credit while in the military: Employer Information?


iMacDrew wrote:

also look into military credit unions like Penfed and Navyfed.. youre more than likely going to get accepted for a Navy Federal card though as Penfeds underwriting criteria is more strict.


I definitely want to apply for Navy Fed, but I was waiting until I had orders so I could list AD on the application. 

Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Applying for credit while in the military: Employer Information?

just go with what youre making, there no sense waiting imo. were you prior enlisted or just straight commisioned? 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Contributor
migo13
Posts: 87
Registered: ‎08-17-2012
0

Re: Applying for credit while in the military: Employer Information?

What I'm making as in the 500/month?

Just straight commissioned, no prior service.

 

Frequent Contributor
iMacDrew
Posts: 350
Registered: ‎07-13-2012
0

Re: Applying for credit while in the military: Employer Information?

naw like the base pay, bah where you may be stationed. theres a lot to it. 

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}