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Regular Contributor
Posts: 240
Registered: ‎03-07-2013
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Proof of Income for the Cap 1 Journeys CC - Need Advice

Currently have a WF secured 500 ( since 11/12) with a 2% util. Always paid on time and hoping to graduate to unsecured in 04/2013.

 

Scores before applying for my Walmart card were myFICO TU 681, myFICO EQ 661 - Approved for Walmart on 3/8/13 @ 300 and called the backdoor # and got CLI to 500.

 

I also applied for the Cap1 Journey and got the 7-10 day message. I called the backdoor and the Rep said that I should be getting a letter so that I can send my proof of income. I mentioned that I'm a full time student and I do receive funds from my parents ( from outside the US) but I can send bank statements showing deposits and he said that, its ok to send statements. 

 

My question is, can I be approved for the Journey card for being a full-time student but with deposits/funds of about $70,000 a year? 

 

Thanks in advance!

 

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Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Proof of Income for the Cap 1 Journeys CC - Need Advice


brikays wrote:

Currently have a WF secured 500 ( since 11/12) with a 2% util. Always paid on time and hoping to graduate to unsecured in 04/2013.

 

Scores before applying for my Walmart card were myFICO TU 681, myFICO EQ 661 - Approved for Walmart on 3/8/13 @ 300 and called the backdoor # and got CLI to 500.

 

I also applied for the Cap1 Journey and got the 7-10 day message. I called the backdoor and the Rep said that I should be getting a letter so that I can send my proof of income. I mentioned that I'm a full time student and I do receive funds from my parents ( from outside the US) but I can send bank statements showing deposits and he said that, its ok to send statements. 

 

My question is, can I be approved for the Journey card for being a full-time student but with deposits/funds of about $70,000 a year? 

 

Thanks in advance!

 


Yes you can. It won't be a problem as long as you can show a steady pattern of deposits entering your account on a monthly/quarterly/yearly basis. it doesnt have to be depositted on that very exact day or month, just need to show there's a pattern of your parents wiring you money that is sufficient to cover all your expenses in that given period of time.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Established Contributor
Posts: 662
Registered: ‎02-20-2013
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Re: Proof of Income for the Cap 1 Journeys CC - Need Advice

$70k allowance from your parents as a student. holy smokes! unless you go to some expensive private school you should be swimming in spare cash.

 

yes, your deposits on your statements should be fine for income verification.


DCU ( pulled 3/29/13) EQ04 683 | Amex (pulled 3/28/13) EX 760 | US Bank (pulled 3/28/13) EX 753
CreditKarma (4/19/13) TU-TR 701 | TU Vantage 788 | USAA FAKO (3/31/13) EX 728, EQ 699, TU 737 |
Inquiries (4/18/13) EX 13 | EQ 13 | TU 14
Super Contributor
Posts: 7,132
Registered: ‎02-27-2013
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Re: Proof of Income for the Cap 1 Journeys CC - Need Advice


NJTurnpike wrote:

$70k allowance from your parents as a student. holy smokes! unless you go to some expensive private school you should be swimming in spare cash.

 

yes, your deposits on your statements should be fine for income verification.


im assuming he's an international student.

tuition fees are normally >30K even at public institutions for international students Smiley Sad


Btw, I asked u some questions in the other threads!

 

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
Regular Contributor
Posts: 240
Registered: ‎03-07-2013
0

Re: Proof of Income for the Cap 1 Journeys CC - Need Advice

Thanks for your responses....yes I do have all deposits showing on my statement and  Yes, I am an Int'l student. 

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Regular Contributor
Posts: 240
Registered: ‎03-07-2013
0

Re: Proof of Income for the Cap 1 Journeys CC - Need Advice


enharu wrote:

NJTurnpike wrote:

$70k allowance from your parents as a student. holy smokes! unless you go to some expensive private school you should be swimming in spare cash.

 

yes, your deposits on your statements should be fine for income verification.


im assuming he's an international student.

tuition fees are normally >30K even at public institutions for international students Smiley Sad


Btw, I asked u some questions in the other threads!

 


enharu, i had no idea that you asked me a question in another thread. I'm a newbie here and have not seen your question. You may refer me to the question or just go ahead and ask me here.Smiley Happy

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