UPDATE: BBVA NBA Amex - Is this verification or a denial?

[DeeBee78]

I decided that since Barclays pulled me out of the garden last week, I might as well make the most of it. My scores are borderline for the BBVA NBA Amex, so I went for it. 

I might have fudged income a bit, but their definitions of household income is a very grey area. I combined my partner's income with mine, since it does in fact pay part of my biils. 

I got the SLAM DUNK! and we'll call you to complete your application: 

Is this just verification? I know they're way behind on apps, so I'm hoping it is. If you're denied, do you get a 7-10 day message like other lenders?

It looks like I have a nice long wait ahead of me if it is verification

[FinStar]

On the surface, it looks like verification. Be prepared for a long wait on the final decision. It can also be 50/50 from what I've seen lately.

Btw, please don't fudge your income. The application states/asks for annual income not annual household income. While this can be a grey area and subject to interpretation, unless it's explicitly stated you should be providing your own individual income. You could always ask the lender if in doubt.

At any rate, it's unlikely they're going to verify it since these types of messages are more geared toward verification more than anything. Good luck and hopefully you'll hear good news sooner than later.

AFAIK, they're still granting decent SLs.

[DeeBee78]

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@FinStar wrote:
On the surface, it looks like verification. Be prepared for a long wait on the final decision. It can also be 50/50 from what I've seen lately.

Btw, please don't fudge your income. The application states/asks for annual income not annual household income. While this can be a grey area and subject to interpretation, unless it's explicitly stated you should be providing your own individual income. You could always ask the lender if in doubt.

At any rate, it's unlikely they're going to verify it since these types of messages are more geared toward verification more than anything. Good luck and hopefully you'll hear good news sooner than later.

AFAIK, they're still granting decent SLs.

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"Fudge" is probably not the best word to use. Maybe "took liberty with their language" would be a better phrase. Before I made the decision about what to put for income, I read their qualifications for it: 

Alimony, child support, or separate maintenance income need not be revealed if you do not wish it to be considered as a basis for repaying this obligation. If you are over 21, you may include somebody else's income that is regularly used to pay your expenses.

My partner pays for some of my household bills, including my half of the mortgage, so to me that sounds like it qualifies. 

I make $55k myself, so it's not like I have no income. I just want to ensure the best starting limit I can get. 

[FinStar]

Ok, thanks for clarifying DeeBee.

I think if your profile is pretty solid and everything checks out good I would say you have a shot. There's been a few recent threads with similar verification instances and it's one of those unpredictable things that you have to answer the phone when they call.

Maybe some folks who've been through this similar scenario can chime in on what to expect since BBVA can be all over the place.

Thus far, their card has been pretty decent IME.

[-Cal-]

It's going under manual review, don't be surprised if you receive a letter like this



(click for larger image)

[DeeBee78]

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@-Cal- wrote:

It's going under manual review, don't be surprised if you receive a letter like this

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Oh man, I hope not! Was this after you got a phone call from them, or did you even get a call?

I've never had to deal with over-the-phone verification before. I usually can answer a few questions regarding past credit info, and get on with whatever I'm doing. 

[FinStar]

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@DeeBee78 wrote:

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@-Cal- wrote:

It's going under manual review, don't be surprised if you receive a letter like this

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Oh man, I hope not! Was this after you got a phone call from them, or did you even get a call?

I've never had to deal with over-the-phone verification before. I usually can answer a few questions regarding past credit info, and get on with whatever I'm doing. 

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It could be any number of variables.  Below is a recent thread from another poster with a similar experience but different outcome, so it's going to be YEMV since verification instances vary widely for BBVA.

http://ficoforums.myfico.com/t5/Credit-Card-Applications/Bbva-hopefully-approved/m-p/4214636

[joedtx]

BBVA application process = Slow boat to China

On the bright side every boat does reach its destination....Good Luck DeeBee 

[Anonymous]

I just think your Ex score at 633 is too low. I have seen some approvals on here with scores in the 660's.

If you are lucky and your income is the overriding factor, you may slip in with a $1000 limit.

I was approved with a 697 score for $7000 at 17.24% interest because I apped at a time when my utilization was higher. My DW had a 722 score and got $20,000 at the best rate of 11.24%.

They definitely approve in tiers based on score.

[DeeBee78]

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@Anonymous wrote:

I just think your Ex score at 633 is too low. I have seen some approvals on here with scores in the 660's.

If you are lucky and your income is the overriding factor, you may slip in with a $1000 limit.

I was approved with a 697 score for $7000 at 17.24% interest because I apped at a time when my utilization was higher. My DW had a 722 score and got $20,000 at the best rate of 11.24%.

They definitely approve in tiers based on score.

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EX is actually much higher, but thanks to the slow reporting on MyFICO, I didn't know what the real number was until this morning. 

Climbed to 657, even with the inquiry.