Capital One Saks 5th Ave CLI - Denial Reason - Can't verify income

[Andy77]

I emailed in to the EO the first page of my last bank statements for three months documenting deposits totals. Will see if this works.

[SoCalGardener]

---

@Andy77 wrote:

I emailed in to the EO the first page of my last bank statements for three months documenting deposits totals. Will see if this works.

---

Sorry, your post is kind of vague so I'm not sure if this is relevant, but *deposits* into a bank account do not necessarily equal *income*. So using bank statements to document deposits won't necessarily satisfy their need to verify your income. Among many others, one possible scenario is money deposited via a BT offer--that's definitely not income, but it is a deposit. Don't be surprised if they require better/further proof of income, such as tax returns, paycheck stubs, etc.

[CreditPacMan]

Was that the only reason? 

How long have the card? Which card do you have?

[Andy77]

Yes single denial reason, can't verify income. They stated in their document to verify income you can send in:

Last three consecutive bank statements showing regular deposits. My Feb statement shows 20k in deposits, March 44k in deposits, and April 45k in deposits. I am sending the first pages fo the statments since its 27 pages for three months of bank statements and that is too many to send in.I have had the card 1.5 years. I have four cards with them all the zero balances. Oldest card is 2 years ago. I always PIF. 

I have PIF and used this Saks card up to the 1k limit many times. I have never had a creditor ask me to prove my income, especially when I have zero balances on cards with said creditor. To me, asking for this when all cards have a zero balance is not logical. I could certainly understand any creditor asking for income documents if all the cards with said creditor are close to their limits and only minimum payments are being made and income is stated at 250k a year, then I would ask because something seems off. If what I sent in they don't like I don't care, I will just not use the card or ask for anymore credit limit increases. 

[Remedios]

Showing deposits only will not work. If they wanted to know about those, they  would have asked for paystubs. 

Money coming in doesn't mean that money going out isn't a larger number. 

Depositing a billion means very little if you're spending three billions. 

Besides, you're less than two years from BK discharge, you should expect these requests from lenders, some simply may want to know that whatever led to it is no longer an issue. 

[Andy77]

I talked to a Sr. Acct rep and explained to her that I sent in a five page fax documenting the deposits. I said I am not sending in 27 pages of bank statments and she said she would not either and it should be a-ok sending in the five pages. My bank statement pages that they will see show positive balances for the prior months of the deposits ( North of 5k for one month, 4k suplus another month, 8k surplus prior month, so I am not spending more than I am making or the balances would be zero the prior months). I will wait and see. If they don't like what they received, I am ok with that and they can leave the credit limits as they are as I rarely use these cards and have 50k in available creidt on other cards. I requested these increases so I could use these cards more if I so chose, but I don't "need" to given the 50k available on other cards.

[Andy77]

They got the documents and applied the CLI to the wrong account, they increased my Neiman Marcus account from 2k to 6k.

So, I am trying to get it fixed.