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@BlueSea wrote:I recently ordered a full EQ report from annualcreditreport.com Everything looks fine. My address is correct.
After some email exchanges with them they said it's about the information i provided on the application they think is not accurate.
But later i provided the docs they requested. They said if i don't fill out the form they will close my savings account and close my membership.Talk about blackmailing.
Its not "blackmailing." Its their money and they get to set the terms for membership in the credit union.
There are lots of credit reporting agencies besides Equifax. So just because your Equifax report appears clean does not mean that there isn't derogatory information on other credit reports. Since BCU is requesting a 4506-T I'm guessing that there's either a problem with your ChexSystems report (hence closing your deposit account) or they have questions about the income you stated on your application and they want to cross-check it by looking at your tax returns (this is regarding your application for credit).
In addition to the three major credit reporting agencies - Experian, Equifax, and TransUnion - there are others like ChexSystems, Early Warning Services, TeleCheck, LexisNexis, TheWorkNumber, Innovis, IDA/Sagestream, Account Resolution Services, and several others that compile and provide consumer information to financial institutions.
I have never been asked for verification of ID or income on any credit card app I have submitted. Certainly not on a credit card. I, personally would not want to provide several years of tax returns merely to get a lousey $2,000 SL. I would gladly provide it and not be surprised it was requesteed on a $30,000 car loan or a mortguage. That being said, this kind of verification is out of the ordinary even for this CU, so the reason must reside in the info you gave in your app or that is in your reports. Either provide the requested tax returns and hopefully get an account (if they are consistant with the info on your app) or just drop the matter and move on to someone who isn't as picky and on alert.
Finally i was able to talk to someone from their Fraud department. She explaned they couldn't verfy my income. On the application i stated $103 K income. I did send 2 pay stubs for $4201 and $7369.09. She couldn't explain very clearly why they couldn't verify. She said she couldn't find anything on the internet. What? I said they could call the company if they wanted. And she insisted on the tax returns. I think i will send them my bank statement to confirm those two payments since they were direct deposits. If this doesn't work i'll move on. I've had enough.
Hello All, I just wanted to give my experience with BCU. I read from these boards about a $150 secured card so I applied along with savings account and about 24 hours later I got an email that informed me that I needed to put at least $150 in the savings account. Once I did that, I got another email the next day that I was approved. Later that day, I got a call from someone in their member services that I could also get their checking account (Powerplus Checking) without any additional approvals needed. They don't do any Chex systems or EWS for anyone concerned, so I signed up for the checking account as well. Thanks to all who mentioned this place, as I would have never thought to check on a credit union. I was able to meet their basic requirements due to living in Cook County, Illinois (Chicago area) north of Interstate 55.
hey @BlueSea:
howd your app turn out? Did you get approved without the 4506T?
I didn't provide the tax returns and we stopped right there. No one ever has requested tax returns for a credit card from me and i decided not to submit them.
@Camps wrote:Hello All, I just wanted to give my experience with BCU. I read from these boards about a $150 secured card so I applied along with savings account and about 24 hours later I got an email that informed me that I needed to put at least $150 in the savings account. Once I did that, I got another email the next day that I was approved. Later that day, I got a call from someone in their member services that I could also get their checking account (Powerplus Checking) without any additional approvals needed. They don't do any Chex systems or EWS for anyone concerned, so I signed up for the checking account as well. Thanks to all who mentioned this place, as I would have never thought to check on a credit union. I was able to meet their basic requirements due to living in Cook County, Illinois (Chicago area) north of Interstate 55.
Didn't Jake and Elwood Blues go there?