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New Member
Bjamin1884
Posts: 3
Registered: ‎12-20-2010
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Unable to verify income/ employment??

So I recently applied for credit at a national Jewelry store. The website had the option to be "instantly approved" for credit online. I filled out all of the required information and the website told me they weren't able to immediately approve credit and said they would send me a communication through the mail in the next 2 weeks... So I just received a letter saying they could not grant me credit because they were:

 

"Unable to authenticate"

"Unable to verify employment"

"Unable to verify income" 

 

Does anyone know what this means??? I'm in my mid- 20's, make a decent income (~70k) and work for a large well-known company. My FICO hovers around 660- 680. (still a few blemishes a few years old from some mistakes made in college) Can I do anything about proving my income/ employment? They did leave a phone # on the letter but never mentioned contacting the lender directly (only mentioned requesting my EQ info).

 

Any info would be great! Thanks 

Moderator Emeritus
llecs
Posts: 32,869
Registered: ‎08-04-2007
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Re: Unable to verify income/ employment??

I would look for their number and give them a buzz. I think you might be able to find it on your full report if you get it directly from the CRA(s) or annualcreditreport. Or google them. I own a mid-size business and while we are on the grow, I'll still answer most of the phone calls that come in. From time to time our employees will apply for credit like a CC or loan. We have a strict privacy policy that we put in place after a CA called pretending to be a CC company wanting to verify someone's info. A quick thinking employee realized that they were very rude in asking for info and googled the number and learned they were lying. We also have some CAs collecting from time to time. Because of the privacy policy we will not verify anyone's employment unless the employee gives us a head's up first or if that creditor provides a written request signed by the employee beforehand. Otherwise, we will not acknowledge our employee's existance. If you work for a large company, maybe nobody took the time to verify and said "nobody by that name works here" just to get them off the phone? Also from experience, with the exception of a mortgage lender, I never had a creditor call and ask for verification after applying (take that back...Advanta biz CC did back in the day).

 

I'd start by pulling your reports to see if they even pulled them and give a call.

Frequent Contributor
stanggt03
Posts: 437
Registered: ‎05-21-2011
0

Re: Unable to verify income/ employment??

Take a utility bill and check stub with you and go into the store in person. I read about someone else doing that and getting approved right there, after a similar situation.


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Current Score: 615 EQ 08-15-11 / 631 TU 09-27-11
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New Member
Bjamin1884
Posts: 3
Registered: ‎12-20-2010
0

Re: Unable to verify income/ employment??

Thanks for the info! I think you're both right. There's no way they contacted anyone in my HR department to confirm my income or employment. And even if they tried, I don't think my company provided any information on my salary.

 

I think I'll try to call the # on the letter to see if I can work directly with the people doing the approvals. If that doesn't get me anywhere, I'll bring my info in the store.

Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
0

Re: Unable to verify income/ employment??

Another thing you may want to look into is your credit report, does it show your current employer correctly?? (You need to know which report they pulled so you can check it for accuracy)

 

I just encountered the same thing when I applied for the Citi Dividend Platinum Select CC, I was not instant approved, called a few days later and found out they had sent me a letter (I have not received yet) but was told it had something to do with my employment, so I dug deeper and found on my EQ credit report (which is what Citi pulled) it shows my former employer as my current employer, I called EQ and was told to fax in a pay stub, copy of my SS# and copy of my DL and they would have it fixed in 3-5 days.

 

That may be your issue as well.

 

Just a thought.......

 

Best of Luck!


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Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
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Frequent Contributor
stanggt03
Posts: 437
Registered: ‎05-21-2011
0

Re: Unable to verify income/ employment??

I need to do that also. My employer that's showing on my reports is from 2008.


Starting Score: 596 EQ 5-22-11 / 554 TU 5-23-11
Current Score: 615 EQ 08-15-11 / 631 TU 09-27-11
Goal Score: 700+


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Established Member
drudown
Posts: 48
Registered: ‎05-27-2011
0

Re: Unable to verify income/ employment??

How do they verify income if you're a self employed contractor/1099? 

Sorry cant do paragraphs. Posting from an iPad, for some reason the return key doesn't work on Myfico forums.
Valued Contributor
Mustanglvr2006
Posts: 1,971
Registered: ‎02-06-2011
0

Re: Unable to verify income/ employment??

[ Edited ]

stanggt03 wrote:

I need to do that also. My employer that's showing on my reports is from 2008.


I take it that your employer from 2008 is not your current employer? If thats the case then I would venture to say theres your problem.

 

You put your current employers name and address, phone # etc..... on your CC app, and when the creditor pulls your report and the employment info does not match it will cause them to freak (so to speak) I would bet for most (especially prime CCC's) to want you to verify the info that you put on your app is true, because they are seeing something different.

 

I would get this sorted as quick as you can, to avoid this from happening again, as I said in my earlier post with EQ its a simple fix, fax in a current paystub, copy of your SS# and DL and a note stating why you are sending this info (your report will be updated in 3-5 business days)The fax is 888-729-0083, you can call equifax and verify that. I'm not sure the process with TU or EX, it may be as simple, could be more of a PITA, I'm just not sure.

 

But I am betting thats the reason you were not instanly approved, if you had been declined I believe it would have notified you of that immediatly (I'm not saying you're for sure approved) but it is a better sign when they want more info rather than just flat out declining you.

 

Anyhoo, I'd do think you should have your current employer corrected on your reports first and foremost, then app for more credit if thats your intention.

 

Best of Luck!!

 

EDIT: just realized I thought I had quoted the OP, and just now realized it was not the OP, duhhhhhh, but maybe the OP's employment info is incorrect as well.

Now don't I feel smart LOL!!!!


Starting Score: 583
Current Score: 3-03-12-EQ-802 TU-806 EX-798 (EQ Beacon 9: 804 Lender Pull 3-08-12) All FICO's
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Frequent Contributor
stanggt03
Posts: 437
Registered: ‎05-21-2011
0

Re: Unable to verify income/ employment??

Thanks. I'll definitely be updating that. I've app'd for quite a bit recently. I'm cooling it until winter. Got some GW letters out right now also. But in the meantime, I'll definitely do that so when the time comes, that won't cause any hangups.


Starting Score: 596 EQ 5-22-11 / 554 TU 5-23-11
Current Score: 615 EQ 08-15-11 / 631 TU 09-27-11
Goal Score: 700+


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