@ZioViche wrote:Hey all. New Member here. I'm finally in the process of applying for the AOD Visa, and I had a couple of questions. (the old AOD thread is locked).
Is is better to apply for the savings account and wait for approval before applying for the credit card, or is it okay to do a combo application? (already became a bike club member).
Also, the initial application on the website asks for income. The AOD Approcal thread mentions:
- Applicants CAN use household income on the application even though the application makes it seem like you must enter only personal income (confirmed by the CEO).
- Use household income on the application and include all other income you may have (bonuses, overtime, rental income, etc). (Example: W2s for proof of income and a signed lease agreement for rental income, vs providing 2 years of taxes to show the rental income)
I called AOD and they said it should be just my income. Any experiance with this or suggestions on what I should use?
Thanks!
Welcome to the community @ZioViche...While my perspective is a bit dated now, and UW standards are continuing to evolve, the majority of the members here applied for the AOD card while applying for membership, so it's ok to do so. However, depending upon your profile, you may want to establish membership and build a bit of relationship time before applying if there are any wrinkles that may need to be sorted (not to imply you have any). Otherwise, there's nothing wrong with applying for both card and membership. Just know that if the card is approved but the membership is denied, then the card approval would be overturned.
Regarding income, our information from the old thread may now be outdated and they may be just wanting your income as the rep has indicated. You can try calling again and see if you get a different rep and ask for clarification.
@ZioViche wrote:Thanks so much for the info!
Is there any benefit in doing the apps together vs apart? Is there a hard credit pull for the saving account app? If so, then why does it matter if your credit card app is denied after your savings is denied. You get a hard pull either way. Can you not just reapply for both again?
Yes, they will pull Equifax for just establishing membership, so you might as well apply for the credit card as well because it will be the same credit pull. Now I contacted them first but there is no hard evidence that made a difference. My wife and I got approved for both membership and credit card exactly as requested. We probably could have gotten the max 25K, but 15K is all we need anyway. Be patient with them and good luck. Well worth it.
