Barclays AAdvantage Aviator Red - Almost Approved???

[sznnmnt]

I just applied for this card and I checked the status online for the application the next day. The status was declined. I then called Monday after the weekend to see if I could recon and to my surprise, the application wasn’t officially declined, it was actually active and needed my income tax records.I’m so ecstatic that I finally can maybe get a travel card after two other apps that resulted in decline from Bank of America and Citibank.

The biggest problem is I put 85k for my income, I’m not sure if I do my 2018 and 2019 taxes that I can prove 85k. I have a steady job 61k, Insurance Income of ~ 8000, and I could always give an explanation that I project my 2020 income to be closer to 85k because of my insurance business. Do you think I have a chance in hell to get approved based on this info? Perhaps they need the income information to decide on the CL?

A little about me: BK7 discharge 2015, No missed payment since, no collections, only 2 inquiries Trans which drop off in the next few months + Citi pull only 1 day prior. HP is exclusively Trans. Utilization is at 6%.

WF Platinum Visa 3200 (Was secured, graduated couple yrs ago)
TJMaxx Mastercard 8000
Lowes 8000
MyJewelers 5000
Target 2200
Fry’s Elec 1600
Auto Loan 7600

[recoveringfrombk7]

Generally speaking you should use income values you can verify for this reason. That's a big gap between what your taxes say and what you put on the application. Don't be surprised if things don't work out. You can get high limits with low income. It might take a bit longer, but being unable to prove income can lead to denials and open accounts can be closed for it.

[AllZero]

Hope it turns out well. Good luck!

[zerofire]

Almost approved? Sounds like a decline to me. Barclay's is rather strict on the income. I have heard of some people applying and with all the income in the world getting declined because of inquiries. Also the 2018 taxes are supposed to be done already. You might want to expedite those since the penalties will hurt. Unless Barclay's loosens up on what they are willing to approve you for then you will not make it. Now I do recommend that you provide them with the income verification info so you at least have a chance. They already hit you with the HP already.

I can understand why they would do income verification. You have a lot of store cards which will compete with them for attention. Those cards have high APR's. You also do not have a high amount of experience with bank cards  The only one is your Wells Fargo Platinum and that can mean that you are not as good as they hope you are. Ball is in your court so, Play Time!

[sznnmnt]

Thank you for your responses. After receiving the letter in the mail yesterday, I saw they had a request for a 4050t. Its a form I am to fill out to get a transcript back from the irs. I read all the details and apparently the request for the current year (2019) is not available until Jun 15th of this year. They would be requesting my 2018, which not only hasn't been filed ( I have it complete, but waiting), they will most likely get a statement back that says I didn't file even if I sent it today (we can all bet that the irs will sit on it before the transcript could be verified in the system which needs to happen within 60 days). I guess a wasted app and a lesson or two to be learned.

[Anonymous]

Sorry for the future denial. 
For upcoming apps, I'd only enter actual income I could prove from previous year. 

[Anonymous]

Get your taxes current for sure.

As for income on apps, I almost always put what was on my W2 the year prior.  That way, any question....I have the document ready.

[Medic981]

Tough lesson learned. Good luck with your future apps.

[Anonymous]

Hopefully you won't be declined. However, just an FYI, next time you should state your income exactly what it is at the time of apping that way you dont need to worry in cases like this. Good luck!