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Penfed credit card.. what happens if I do not send my paystubs for verification?

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Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

I just wanted to apply for low interest rates. But I can not complain. I have a perfect relationship with AMEX Smiley Happy I always approve of them and it is not anything
Message 11 of 18
Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Anonymous wrote:
I just wanted to apply for low interest rates. But I can not complain. I have a perfect relationship with AMEX Smiley Happy I always approve of them and it is not anything

You do have a pretty nice line up presently with some great lenders!!

Message 12 of 18
Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

Update: apparently my social security information put it incorrect and I had to do the process again and tomorrow I hope to reply
Message 13 of 18
Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

lol...not laughing at you but I am sure you giggled a bit too....good luck...Smiley Happy

Message 14 of 18
Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

Lol
Message 15 of 18
DaveInAZ
Senior Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Anonymous wrote:
Update: apparently my social security information put it incorrect and I had to do the process again and tomorrow I hope to reply

Their screen for putting in income & other personal info is confusing. I took early retirement Social Security at age 62 but still work part time for my local county. My Powercash CC app was instantly rejected and gave dumb reasons - utilization is too high (it's 11%), length of credit history (I'm 65), so I called into to recon. Turns out I was being rejected because it only picked my part time salary income of $8500, so the real reason for rejection was insufficient income (yeah, who can live on only $8500/yr?). I had mixed up where to input the amount of Other Income and the Source. Approved when I fixed that.

 

And I'm with you on having to provide 2 paystubs for a CC app, I have never had to produce that for a credit card, over a dozen approvals over the past several years. For a car loan yes, for a CC, no.

Message 16 of 18
pipeguy
Senior Contributor

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?


@Anonymous wrote:
I canceled the application with a representative by phone

Good choice !

 

You always remain in control of you apps and accounts - if in fact a lender wants to push back, you always have the option of saying nevermind. You also know that if you decide to try again in a year or two should you choose, that they might (probably) request the same documentation (you'll know in advance). 

Message 17 of 18
Anonymous
Not applicable

Re: Penfed credit card.. what happens if I do not send my paystubs for verification?

It will not be that Penfed is more focused on income and not so much on credit. I am 36 years old and I have several cards mostly Amex. The only thing is that my use is 4%. 700 credit score.
Message 18 of 18
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