@Anonymous wrote:The Quicksilver sounds like a dream.. $100 sign-up bonus, 1.5% cash back always, SP credit limit increases, but only 9 damn months of no interest and three hard pulls?! Pssh.. Discover, BoA and Chase can laugh at it... Too bad I already have their cards :\
Interest free promo periods are valuable to some and worthless to others. For people who PIF each month, interest free periods are useless; especially since carrying a balance and using such promo could result in AA.
Lay person here
One comment i have is that depending on industries you get some form of heads up that you're out of a job. Maybe weeks out or maybe months. "When the merger closes you're not being kept around". So on the day of the application you are legally employed. You have recent pay stubs and so on.
But I echo folks re not going the route to create a bank float via credit cards. Try to avoid it n
One comment i have is that depending on industries you get some form of heads up that you're out of a job. Maybe weeks out or maybe months. "When the merger closes you're not being kept around". So on the day of the application you are legally employed. You have recent pay stubs and so on.
But I echo folks re not going the route to create a bank float via credit cards. Try to avoid it n
@FinStar wrote:Oh, and for the record, I have witnessed a case (post BK reform) where an individual was held in contempt for submitting similar fraudulent information and the lender pursued it with the trustee overseeing that individual's case - needless to say the outcome was not pretty. How often these cases occur are unknown to me, but they do. Why take the risk?
Good for you??! And the Trustee oversees all cases, so I'm not sure what you're getting at here. That's their job. Given that the OP seems to have a plan (one that I hold no judgments on), I'd say that they have done a risk assessment and feels it's worth it to them. Now, you're welcome to judge all you want, but IMO it's not our place.
@CreditScholar wrote:
@FinStar wrote:
@LadyJEsq wrote:
@FinStar wrote:Oh, and for the record, I have witnessed a case (post BK reform) where an individual was held in contempt for submitting similar fraudulent information and the lender pursued it with the trustee overseeing that individual's case - needless to say the outcome was not pretty. How often these cases occur are unknown to me, but they do. Why take the risk?
Good for you??! And the Trustee oversees all cases, so I'm not sure what you're getting at here. That's their job. Given that the OP seems to have a plan (one that I hold no judgments on), I'd say that they have done a risk assessment and feels it's worth it to them. Now, you're welcome to judge all you want, but IMO it's not our place.
I'm not judging but rather stating a fact with regard to fraud. I'm not in the OP's shoes but I can tell you honestly I would not be including any income figure on an application that I'm not legally entitled to. Unless the OP is still legally employed (i.e. severance or employment continuation assignment) then that income is still valid. The OP has stated he is no longer employed, so any income figure input on an application above $0 that is not gainfully obtained (as of today) from his prior employer is considered fraud - plain and simple.
+1. First of all, I don't see what the problem with judging is. Everyone does it everyday, it's part of human nature.
With regards to the topic at hand, FinStar is right. Regardless of what the OP feels, if one doesn't have income then one doesn't have income. There's no "feeling" about that, it's a fact. Anything contrary to that fact is fraud, hence why you have to agree to quite a few T&C whenever you submit an application. The OP can disregard this information at his/her peril, but there is nothing wrong with FinStar putting the idea out there that the afforementioned actions is illegal and may have severe consequences.
Let's stop using it's "human nature" as an excuse for bad behavior. Science has long since proved that we are in control of our behavior.