PenFed Surprise: Need 2 Yrs Tax Forms? Noooooooo

[Ron1]

Most CU asked for pay stub/ income tax return for credit cards approval. It is normal.

Ron.

[keithB]

---

@SOGGIE wrote:

Received an odd credit decision. They are requesting 2 years most recent tax returns for Amex approval. Are you kidding me? Seriously? I feel offended. Anyone else experience this?

---

I'm not trying to get in your business but I might point out, I was asked primarily because I am self employed.  Are you in the same situation? If so, I wouldn't take offense as extra documentation when you work for yourself is just part of the game.

[longtimelurker]

---

@Ron1 wrote:

Most CU asked for pay stub/ income tax return for credit cards approval. It is normal.

Ron.

---

Penfed didn't ask anything for me, so I guess it's, as usual, YMMV.

[longtimelurker]

---

@keithB wrote:

AMEX asked the same of me but I didn't feel offended in the least.  I sent them the info and was approved instantly.

---

I agree that you shouldn't be offended, it's just a business relationship!  But for some, there are valid privacy concerns, expecially if you file jointly and your partner is not involved with the Penfed (or Amex etc) app.   They then get private information that they don't need.   And yes, they probably can get most of it anyway, but no real need to supply it for them.

But you balance that against your need/wish for the card or CLI etc.

[Revelate]

---

@Ron1 wrote:

Most CU asked for pay stub/ income tax return for credit cards approval. It is normal.

Ron.

---

+1

If you are self-employed, or otherwise earn income as anything else but a W2 employee, last two tax returns is the standard income verification request.

[SOGGIE]

Yes I am. That might explain it to a degree.

---

@keithB wrote:

---

@SOGGIE wrote:

Received an odd credit decision. They are requesting 2 years most recent tax returns for Amex approval. Are you kidding me? Seriously? I feel offended. Anyone else experience this?

---

I'm not trying to get in your business but I might point out, I was asked primarily because I am self employed.  Are you in the same situation? If so, I wouldn't take offense as extra documentation when you work for yourself is just part of the game.

---

[juggalo9er]

---

@Ron1 wrote:

Most CU asked for pay stub/ income tax return for credit cards approval. It is normal.

Ron.

---

i have never once been asked

[boireann]

A few years ago when I applied for a credit card, PenFed wanted that. I was a brand new member though.   But just recently when I applied for a car loan through them, there was no request for tax documents or proof of income.  Just standard hard pull on all 3 CRAs. 

Edited to add, my other credit union routinely requires tax docs to proove income whenever a CLI is requested.  They used to ask for last pay stub, but switched the tax docs for full picture a couple years back.

[SOGGIE]

Wow! Thanks for sharing. I learned through this thread that it was perhaps due to my self employment.

---

@boireann wrote:

A few years ago when I applied for a credit card, PenFed wanted that. I was a brand new member though.   But just recently when I applied for a car loan through them, there was no request for tax documents or proof of income.  Just standard hard pull on all 3 CRAs. 

Edited to add, my other credit union routinely requires tax docs to proove income whenever a CLI is requested.  They used to ask for last pay stub, but switched the tax docs for full picture a couple years back.

---