topic Re: IRA listed as Savings Account? in Credit Card Applications

IRA listed as Savings Account?

Anonymous — Thu, 13 Oct 2016 23:00:36 GMT

Hello credit warriors! I am new here and haven't applied for a credit card yet. Waiting for an unpaid CO and a dismissed BK to drop off. I do not have a savings account but I do have an IRA. My question is can I list the IRA as a savings account on a credit card application? BTW, my IRA and checking is with same Bank.

Re: IRA listed as Savings Account?

ecxpa — Thu, 13 Oct 2016 23:48:53 GMT

@Anonymous wrote:
Hello credit warriors! I am new here and haven't applied for a credit card yet. Waiting for an unpaid CO and a dismissed BK to drop off. I do not have a savings account but I do have an IRA. My question is can I list the IRA as a savings account on a credit card application? BTW, my IRA and checking is with same Bank.

I don't see why it would not be considered a savings account.........An IRA is just not as fluid as a regular savings acct..........call the lender and ask them

Re: IRA listed as Savings Account?

austinguy907 — Fri, 14 Oct 2016 05:08:06 GMT

This whole checking/savings question on apps is a bit archaic in my opinion. If they really cared like a mortgage process they would ask for someone to upload the docs supporting the answer. Neither of them count towards your credit score nor do they support the decision to approve/disapprove once again unless they asked for documentation.