Nationwide - Would you give up or wait for a solid answer?

[clocktick]

Time table:

November 7 - Applied to Nationwide CC online, received 7-10 day review message (or whatever it is)
November 7 - Nationwide inquiry on TU credit report
November 16 - Received letter in mail, request to fill out form 4506-T for transcript of 2010 tax return from IRS
November 18 - Called to see if I can fax my tax return in instead of using the form and mailing it back to them.  Was given the green light and their FAX #.
November 26 - Faxed in all 17 pages of my 2010 tax return
November 30 - Called to see if received my taxes, woman said credit dept isn't answering and to call back later
November 30 - Called again later on, not transfered, guy asks "for me" and comes back to say they did receive it but, "Just to remind you it takes 2-3 weeks to process."
         WAITS PATIENTLY...really
December  9 - Receive denial letter for the following 2 reasons only: INCOMPLETE APPLICATION and NO RESPONSE RECEIVED
December 10 - Called 11:20am to talk to credit department about issues, was put on hold and then told to call back later, "Maybe they're in a meeting or something?  They're not answering."

That's where I left off.  I'm pretty frustrated at this point.  I've done everything on my end.  WWYD?  Should I throw in the towel or keep putting in effort, since there's a hard inquiry now, for them to fix and complete this?  I'm wondering if they'll pull my credit again since it's been over a month?  I've heard some good things about Nationwide but the more I'm dealing with them, the less I'm wanting their CC.  Opinions?

[Anonymous]

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@clocktick wrote:

Time table:

November 16 - Received letter in mail, request to fill out form 4506-T for transcript of 2010 tax return from IRS

That's where I left off.  I'm pretty frustrated at this point.  I've done everything on my end.  WWYD?  Should I throw in the towel or keep putting in effort

 Opinions?

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I would respond to their request for a 4506-T....  Might change "incomplete application" to "complete application" and "no response received" to "response received.

Just my opinion though.

[MarineVietVet]

What would I do? I would tell Nationwide adios. There is NO CC I would wait a month for. There are too many other companies out there.

Just my 2 cents.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[clocktick]

Update -

December 10 - called around 3:30pm, after explaining what happened to the 1st lady, I waited on hold several minutes before a credit dept. person came on who really sounded impatient (I'm not making this stuff up!).  "I have no record of any fax or anything received from you."  I told her I sent it 11/26 and confirmed with them it was received 11/30.  She responded, "I have no record of any fax or anything received from you."  Then she proceeded to tell me that I didn't respond to their Dec. 2 letter (didn't receive one and believe me, I was looking for an envelope from them) to fill out a 4506-T form but I didn't respond so they denied me. 

Their denial was dated December 2!  Again, she seemed less than thrilled to talk to me so as written above - adios!

Jausanka - I would've if they told me the FAX wasn't okay.  FAX - received immediately.  4506-T - would have to be mailed to them...and then mailed (I think?) to IRS and then response wait time from IRS.  At this point, they don't even know what letter they sent out to me Dec. 12. = priceless.

[OnWayUpinTexas]

I'd say adios too.

Disclosure: I'm a little bitter about a recent denial by Nationwide -- the only reason given was, and I quote, DEROGATORY CREDIT FILE.  Hard to read that with all the rebuilding efforts I've undertaken and the recent successes I've had with other creditors.

As the MOD said, I'd say adios.  I have.  I took it as a sign that opening the card might damage the other good things that have happened lately.

[Anonymous]

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@clocktick wrote:

"  Then she proceeded to tell me that I didn't respond to their Dec. 2 letter (didn't receive one and believe me, I was looking for an envelope from them) to fill out a 4506-T form but I didn't respond so they denied me. 

Jausanka - I would've if they told me the FAX wasn't okay.  FAX - received immediately.  4506-T - would have to be mailed to them...and then mailed (I think?) to IRS and then response wait time from IRS.  At this point, they don't even know what letter they sent out to me Dec. 12. = priceless.

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Unfortunately, "real" underwriting sometimes requires accurate and verifiable information.  Most companies don't go through the trouble of verifying most information, and most people aren't taken to the extreme of 4506-T's or FRs or employment verification, but sometimes one underwriter can be tougher than others.  The point of the 4506-T is exactly as you described, it comes direct from the IRS without you as a middleman.  This prevents false information.  Given 15 minutes, I can print up a 2009 tax return that shows I had $486,752 income last year and paid $126,746 in federal tax, along with my capital gains from my real estate business that topped just over $6M.  I bet I would get a pretty decent limit (assuming my score corresponded to lending terms for the particular bank).  However, none of those numbers are what I actually filed with the IRS, none of them are true, and they don't represent my actual income in any way, shape, or form.  But I could certainly fax it to them! :-)

I went through the same thing with my first mortgage.. Everything seemed so slow, so much easier to do directly, paystubs, W-2's, tax returns.. but they wanted signed bank statements showing direct deposits, not my pay stub which I could forge.  They wanted a signed 4506-T, not my tax returns or W-2's... I'm sure most people go through that with a mortgage though.  It's rare to have to do it for a credit card... but unfortunately, if the underwriter demands it, you are kind of at their mercy and have to play by their rules to get their credit.  I agree with Marine, if the card isn't worth the wait or effort, move on to a card that is more reasonable in your eyes.. I wish you the best of luck!

[score_building]

Yeah their cs and lending dept can seem really shoddy, however, admittedly still a fan of the card here at this point.

I'd be just curious enough to ride it out after the inq., time spent and docs sent if for no other reason to get to the punchline of this 'would you believe...' NW scenario

I keep wanting them to come through with each update posted

[Anonymous]

FWIW...

Rejected upon app, after recon, and after recon x2 with Nationwide.

Approved $20k no paperwork with PSECU.

[Anonymous]

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@Anonymous wrote:

FWIW...

Rejected upon app, after recon, and after recon x2 with Nationwide.

Approved $20k no paperwork with PSECU.

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Nationwide seems to have a different approach to approvals than most other banks. I got rejections from Chase and Citi due to lack of credit histroy/revolving accounts, but a yes from Nationwide. From what I've seen, they are sensitive to how many revolving TL's you have. It helped for me to have only one new revolving TL, where as others with great scores but 10-20 TL's got rejections. FWIW I've been happy with Nationwide and they gave me my highest CL.

[Anonymous]

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@Anonymous wrote:

Nationwide seems to have a different approach to approvals than most other banks. I got rejections from Chase and Citi due to lack of credit histroy/revolving accounts, but a yes from Nationwide. From what I've seen, they are sensitive to how many revolving TL's you have. It helped for me to have only one new revolving TL, where as others with great scores but 10-20 TL's got rejections. FWIW I've been happy with Nationwide and they gave me my highest CL.

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+1. I have a lot of revolving and installment accounts.  32-ish on EXP, 22 on EX, 28 on TU.  Nationwide didn't like that.  Apparently PenFed, Navy, and PSECU did.

Who knows?! heh