topic Re: NASAFCU Verification of Income Question in Credit Card Applications

NASAFCU Verification of Income Question

charles23 — Thu, 21 Oct 2021 00:05:15 GMT

I was approved for a NASAFCU credit card.

I received an email stating they need "verification of all income stated within the application (I.E. 2 Most Recent Paystubs or 2 Most Recent Tax Returns (If Self-Employed).

I clearly understand what they are asking for. Since I am not W-2 income but I am instead 1099-MISC income, and I prefer not to send them my tax returns, is it possible they might accept my 2 most recent 1099-MISC income statements in lieu of my tax returns even though they are asking for my tax returns?

Thank you,

Charles

Re: NASAFCU Verification of Income Question

CreditCuriosity — Thu, 21 Oct 2021 00:16:26 GMT

Call and ask them as they certainly will know better than the forum. I speculate as a 1099 aka self employed it will be Tax returns that they mentioned though

Re: NASAFCU Verification of Income Question

FinStar — Thu, 21 Oct 2021 00:17:37 GMT

@charles23 wrote:
I was approved for a NASAFCU credit card.

I received an email stating they need "verification of all income stated within the application (I.E. 2 Most Recent Paystubs or 2 Most Recent Tax Returns (If Self-Employed).

I clearly understand what they are asking for. Since I am not W-2 income but I am instead 1099-MISC income, and I prefer not to send them my tax returns, is it possible they might accept my 2 most recent 1099-MISC income statements in lieu of my tax returns even though they are asking for my tax returns?

Thank you,
Charles

You can ask them, but my understanding is that they will only accept the requested tax documents and they rarely deviate from that. 1099-MISC isn't technically employment income, unless you're self-employed like an independent contractor or sole proprietor type of thing.

Re: NASAFCU Verification of Income Question

rostrow416 — Thu, 21 Oct 2021 00:42:11 GMT

I've used PayPal income from a side business in addition to my W2 job's pay stubs before with one of my Credit Unions. I literally printed out PayPal statements and brought it to the local branch (Teachers FCU) as well as paystubs in order to be approved for a credit card. It probably depends on who you speak to, so it's worth a shot.