SDFCU Premium Cash Back - 2 years of tax returns requested

[Namaste7]

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@frugal47374 wrote:

I wonder if SDFCU would consider just moving some of CL from my current card ($14k limit) to the new one instead of extending additional credit.

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I would recommend trying this approach. When I was approved for this card, they were not willing to transfer any of my limit from the Platinum card to the Premium CB; however, things change all the time. I would also query them to see if they are willing to accept third-party bank statements as proof of deposits / income.

For all of my apps with them, I voluntarily supplied current income (albeit W2 income) because they are not my primary bank and I know they are aggressively conservative.

[SBR249]

SDFCU is pretty conservative when it comes to UW standards and info verification. It may be that it's a canned response from a frontline CSR about all self-employed applicants needing to show 2 years of tax returns.

I'd call them up and ask whether this is for income verification and explain that you are uncomfortable providing all the information in a tax return and whether they would accept any other form of POI. Realistically speaking, if a lot of your income comes from your own business, you may need to provide some kind of IRS form reporting that income as official documentation. But I understand that a complete tax return does contain a lot of private information which lenders shouldn't need if they only want income verification. 

[DaveInAZ]

It's likely the "self employed" that triggered this, but 2 years tax returns including Schedules C&D for a credit card is ridiculous, it's a high interest credit card not a 4% 30 year mortgage. My local credit union which I had banking & a CC with for several years didn't even ask for pay stubs for my $15k car loan in 2017.

Especially since you've been with them for 6 years I would sure consider taking my business elsewhere, there's several options for a 2% card.

[CreditCuriosity]

Here goes this discussion again.