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Self Employed Proof of Income when applying for CCs

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DrDG
Established Member

Self Employed Proof of Income when applying for CCs

I have a question for everyone. I am waiting for a baddie to drop off and then I am going to start applying for a few cards. I was wondering about proof of income. I've read a few posts about paycheck stubs, but I am self employed. Do most credit card companies require you to submit proof of income? For me, that means having to submit bank statements and I'd prefer not to do that. Did any of you have to provide proof of income? Particulary those who may be self employed? Thanks so much. 

Rebuilding with goals of reaching 750.
Message 1 of 38
37 REPLIES 37
Anonymous
Not applicable

Re: Self Employed Proof of Income when applying for CCs


@DrDG wrote:

I have a question for everyone. I am waiting for a baddie to drop off and then I am going to start applying for a few cards. I was wondering about proof of income. I've read a few posts about paycheck stubs, but I am self employed. Do most credit card companies require you to submit proof of income? For me, that means having to submit bank statements and I'd prefer not to do that. Did any of you have to provide proof of income? Particulary those who may be self employed? Thanks so much. 


Depends on the company.

Message 2 of 38
bigblue7722
Valued Contributor

Re: Self Employed Proof of Income when applying for CCs

In my experince most bigger banks dont ask for proof of income. A lot of the smaller places like credit unions will ask for a proof of income. I think tax returns would also work depending on who asks. But my guess is as with a lot of self employed not everyhing is included in your taxes per say. You could also have you bank just print out the deposits you make and not the withdraws. Or atleast my credit union can. 

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 3 of 38
thatguy1
Contributor

Re: Self Employed Proof of Income when applying for CCs

I have not had to prove income to any CC companies. My auto loan and real estate loans require my last two years tax returns.

$15,400 - $1400 Just Unsecured- $10500 - $2300
123 Rewards AU $1500 - BofA AU $2300 - Discover It AU $7200 - Discover It AU $8000
~505 EQ in Jan of 13, now at EQ 690 / TU 674 / EX 681 according to myFICO.com.
Message 4 of 38
DrDG
Established Member

Re: Self Employed Proof of Income when applying for CCs

I'm thinking of Cards like Walmart CC, Barclaycard, Discover, and eventually, AMEX... 

Rebuilding with goals of reaching 750.
Message 5 of 38
DrDG
Established Member

Re: Self Employed Proof of Income when applying for CCs

That's a good idea. Didn't think of that. Thank you. The cards I am considering applying for are maybe Walmart CC, Barclaycard, Discover, and AmEx

Rebuilding with goals of reaching 750.
Message 6 of 38
Anonymous
Not applicable

Re: Self Employed Proof of Income when applying for CCs


@DrDG wrote:

That's a good idea. Didn't think of that. Thank you. The cards I am considering applying for are maybe Walmart CC, Barclaycard, Discover, and AmEx


Just don't do anything to spook them and you'll be fine.

Message 7 of 38
DrDG
Established Member

Re: Self Employed Proof of Income when applying for CCs

What do you mean? Please explain.

Rebuilding with goals of reaching 750.
Message 8 of 38
Anonymous
Not applicable

Re: Self Employed Proof of Income when applying for CCs


@DrDG wrote:

What do you mean? Please explain.


-Spending a lot more than your stated income would allow.

-Buying cash equivalents often

-Frequent cash advances

-Calling every month asking for a CLI

-Applying for too much credit too quickly

-Racking up too many Inquiries

-Sneezing. Etc.

Message 9 of 38
DrDG
Established Member

Re: Self Employed Proof of Income when applying for CCs

Lol, thanks so much for the info!

Rebuilding with goals of reaching 750.
Message 10 of 38
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