What do you consider too intrusive on a credit card app or FR?

[takeshi74]

People are going to vary.  Even for me it all depends on how much I need/want the card/CLI/whatever versus what is requested.  I've gone through income verification twice with AmEx and have no problem providing the 4506-T.  That said. you have to do what works for you.

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@Anonymous wrote:

IMHO a lot of people are apping for too many cards and requesting CLIs too often. This behavior can raise a red flag and cause a FR. You are basically begging the lender to look into all of your activity with more scrutiny.

Another reason is self-employment or fluctuating income. If you are going on the site and adjusting your income all the time, red flag. Just pick an average and leave it. Unless you get some crazy promotion at work or new job and increase your income big time. Just don't touch it. And if you do touch it, be prepared to prove your income increase.

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+1 to these.  The specifics of a given situation are relevant and it can be understandable that creditors need to do their due diligence for situations like that.

[Berk]

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@Anonymous wrote:

Amex asks about your assets and stuff - just FYI.

What I think is intrusive is my tax transcripts. As I've stated in other posts, it's not just my sensitive info that's on there; my children's sensitive info is on there too, and my children are not applying for credit so their info shouldn't have to be passed around to anybody. I also think bank statements are kind of instrusive because it not only shows "income" but also shows how much you spend, to who, and on what - that's a little too much info. But I'd rather share my bank statements than my tax returns.

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Both of which tell the lender requesting the FR how much available income you will have to pay them back. If I make 150K a year have no dependants and a small mortgage I more likely than not have more disposable income. If, on the other hand, I make 200K a year, have a 750K mortgage and have 8 dependants, I might not have the same disposable income. If I make 150K a year, have a small mortgage, no dependants, no investments and zero savings, I more likely than not am a huge risk to any lender.

[EdMan63]

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@Anonymous wrote:

First off - we are talking CREDIT CARD, not LOAN. If i want a straight up, full blown FR or UW I will app for a loan. 

IMHO a lot of people are apping for too many cards and requesting CLIs too often. This behavior can raise a red flag and cause a FR. You are basically begging the lender to look into all of your activity with more scrutiny.

Another reason is self-employment or fluctuating income. If you are going on the site and adjusting your income all the time, red flag. Just pick an average and leave it. Unless you get some crazy promotion at work or new job and increase your income big time. Just don't touch it. And if you do touch it, be prepared to prove your income increase.

If you "leave well enough alone" - you may just skate by and never raise an eyebrow. 

As for me, I never request a CLI. All of mine are FAIR and reasonable. I PIF so why the heck do I need a 20K or more credit line? I just don't. I understand a lot of people see this as a "game" or hobby or what have you. Fine. Go for it. But don't go crying to your mommy when you are hit with a FR.

Have a great day!

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+1000

[Berk]

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@Anonymous wrote:

First off - we are talking CREDIT CARD, not LOAN. If i want a straight up, full blown FR or UW I will app for a loan. 

IMHO a lot of people are apping for too many cards and requesting CLIs too often. This behavior can raise a red flag and cause a FR. You are basically begging the lender to look into all of your activity with more scrutiny.

Another reason is self-employment or fluctuating income. If you are going on the site and adjusting your income all the time, red flag. Just pick an average and leave it. Unless you get some crazy promotion at work or new job and increase your income big time. Just don't touch it. And if you do touch it, be prepared to prove your income increase.

If you "leave well enough alone" - you may just skate by and never raise an eyebrow. 

As for me, I never request a CLI. All of mine are FAIR and reasonable. I PIF so why the heck do I need a 20K or more credit line? I just don't. I understand a lot of people see this as a "game" or hobby or what have you. Fine. Go for it. But don't go crying to your mommy when you are hit with a FR.

Have a great day!

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What is a credit card if it isn't a loan? As for the rest of what you say - you are dead on! Couldn't agree with you more.

[Anonymous]

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@Anonymous wrote:
Anytime someone asks for bank statements I always black out the account number always. They don't like it they don't need me as a customer pure and simple. If they want copy of tax transcripts I black out all but last 4 of ss# of wife and mine kids get blacked out all the way.

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The problem with that is that some lenders (like Amex) want your permission (by using Form 4506-T) so they can get your tax transcripts straight from the IRS, and you don't have an opportunity to black anything out.

[Anonymous]

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@Berk wrote:

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@Anonymous wrote:

Amex asks about your assets and stuff - just FYI.

What I think is intrusive is my tax transcripts. As I've stated in other posts, it's not just my sensitive info that's on there; my children's sensitive info is on there too, and my children are not applying for credit so their info shouldn't have to be passed around to anybody. I also think bank statements are kind of instrusive because it not only shows "income" but also shows how much you spend, to who, and on what - that's a little too much info. But I'd rather share my bank statements than my tax returns.

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Both of which tell the lender requesting the FR how much available income you will have to pay them back. If I make 150K a year have no dependants and a small mortgage I more likely than not have more disposable income. If, on the other hand, I make 200K a year, have a 750K mortgage and have 8 dependants, I might not have the same disposable income. If I make 150K a year, have a small mortgage, no dependants, no investments and zero savings, I more likely than not am a huge risk to any lender.

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Good point!! But I'm sure there are many other data collecting agencies that these lenders are already checking that would inform them of who has dependents and how many. They certainly don't need my tax transcripts with my children's birthdates and social security numbers on them to figure it out. They can figure out if you have a mortgage and how much you owe by looking at your credit reports, and I'm pretty sure they already have some sort of algorithm in place that tracks our spending and payment patterns to help determine the rest about us.

[Anonymous]

If that's the case then I don't need a Amex pure and simple. I am not going to possibly put my kids in a id theft situation before they even start.

[UncleB]

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@Berk wrote:

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@Anonymous wrote:

Amex asks about your assets and stuff - just FYI.

What I think is intrusive is my tax transcripts. As I've stated in other posts, it's not just my sensitive info that's on there; my children's sensitive info is on there too, and my children are not applying for credit so their info shouldn't have to be passed around to anybody. I also think bank statements are kind of instrusive because it not only shows "income" but also shows how much you spend, to who, and on what - that's a little too much info. But I'd rather share my bank statements than my tax returns.

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Both of which tell the lender requesting the FR how much available income you will have to pay them back. If I make 150K a year have no dependants and a small mortgage I more likely than not have more disposable income. If, on the other hand, I make 200K a year, have a 750K mortgage and have 8 dependants, I might not have the same disposable income. If I make 150K a year, have a small mortgage, no dependants, no investments and zero savings, I more likely than not am a huge risk to any lender.

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While I agree with you in principle, there's still no need for my children's social security numbers to be provided to any of my lenders; I'm the one applying for credit, not my kids (if I had any). 

If there were a data breach it's one thing for someone to be impacted when they have an actual relationship with a creditor... it's a whole 'nother matter for their minor children to be impacted as well.  

I understand that a lender (in this example, Amex) gaining posession of a dependent's social security number isn't by design, but it would be problematic (to me) nonetheless.

[UncleB]

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@Anonymous wrote:

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@Anonymous wrote:
Anytime someone asks for bank statements I always black out the account number always. They don't like it they don't need me as a customer pure and simple. If they want copy of tax transcripts I black out all but last 4 of ss# of wife and mine kids get blacked out all the way.

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The problem with that is that some lenders (like Amex) want your permission (by using Form 4506-T) so they can get your tax transcripts straight from the IRS, and you don't have an opportunity to black anything out.

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+1

With the 4506-T it can't be avoided, but in the past whenever I send a copy of a document, I black out the 'sensitive' numbers then make another copy of that. 

It prevents someone from being able to hold the document up to a light and read through the marker.  (No, I'm not wearing a tin-foil hat... LOL)

I started doing this after one day sitting in a waiting room I was reading a magazine that had apparently been donated by someone; they had used a marker to black-out their name and address on the label, but at the proper angle I could still clearly read their information.

[Anonymous]

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@Anonymous wrote:

First off - we are talking CREDIT CARD, not LOAN. If i want a straight up, full blown FR or UW I will app for a loan. 

IMHO a lot of people are apping for too many cards and requesting CLIs too often. This behavior can raise a red flag and cause a FR. You are basically begging the lender to look into all of your activity with more scrutiny.

Another reason is self-employment or fluctuating income. If you are going on the site and adjusting your income all the time, red flag. Just pick an average and leave it. Unless you get some crazy promotion at work or new job and increase your income big time. Just don't touch it. And if you do touch it, be prepared to prove your income increase.

If you "leave well enough alone" - you may just skate by and never raise an eyebrow. 

As for me, I never request a CLI. All of mine are FAIR and reasonable. I PIF so why the heck do I need a 20K or more credit line? I just don't. I understand a lot of people see this as a "game" or hobby or what have you. Fine. Go for it. But don't go crying to your mommy when you are hit with a FR.

Have a great day!

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You are 1000% correct.. Leave well enough alone