X1 and Bank Access

[CCrew]

Anyone dealt with X1 where an income verification wants the bank account info for determining limit, but you don't put all of your paycheck into one bank account? Mine's actually spread across multiple banks and the one much of it goes into Plaid can't verify (Don't think they can get past 2FA). Even choosing another bank or to email statements wouldn't fly without sending them a book, since in my case it's across 5 banks. Income is a solid 6 figures, but I can't expect them to verify off that random account that gets $500 per paycheck off to it because that's all they can verify.

Thanks. 

[Elpadrino1]

I as well had a similar situation as yours, where I get direct deposit in 6 different banks. I ended sending them my 2 last pay stubs, and was approved within minutes. Hope it helps. 

[-Cal-]

Good to know it's possible to obtain the card without giving up bank account access. I wouldn't mind sharing paystubs, I might apply to them sometime in the future. 

[4sallypat]

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@CCrew wrote:

Anyone dealt with X1 where an income verification wants the bank account info for determining limit, but you don't put all of your paycheck into one bank account? Mine's actually spread across multiple banks and the one much of it goes into Plaid can't verify (Don't think they can get past 2FA). Even choosing another bank or to email statements wouldn't fly without sending them a book, since in my case it's across 5 banks. Income is a solid 6 figures, but I can't expect them to verify off that random account that gets $500 per paycheck off to it because that's all they can verify.

Thanks. 

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When I applied during the early beta invite only stage, I had the same issue.

I had my funds separated into 3 different accounts including a business checking account which  made the app a bit difficult.

Main direct deposit bank account could not link via Plaid due to 2FA. Used my business account and linked but gave me a $21K SL.

Original link in October:

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/X1-Card-finally-reality-21K-SL-SP-Plaid-bank-... 

I texted customer service after the app was approved and they said only 1 bank account can be linked which was bummer.

I think if I could have linked my direct deposit bank the SL would have been higher....

[Caribsa89]

@4sallypat - The one bank account link is a lie. I personally had 2 linked. The first One would not link so I tried another one and it went through. Yet, I received an e-mail from both banks that I linked my account to a 3rd party.  When I looked at the X1 App, both of my accounts are present.  I have unlinked both using each bank apps but I can still see them on the X1 App.  I cannot figure how to delete one.  Eventhough I unlink the accounts, my payment still went through using one of them when my statement closed last week.

[CCrew]

Data point: Official response from X1. I'll  be darned if I'm linking all my accounts or sending them all my statements just to get a CC unless they're giving astronomical CL's with low interest.

"If you believe there was any issue with your income verification process, please email income@x1.co with your two most recent personal bank statements from the account(s) in which you receive your income. We will need at least two months of bank statements, but we can review paystubs in addition (not instead of) those statements.

Thanks,

X1 Team"

[FinStar]

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@CCrew wrote:

Data point: Official response from X1. I'll  be darned if I'm linking all my accounts or sending them all my statements just to get a CC unless they're giving astronomical CL's with low interest.

"If you believe there was any issue with your income verification process, please email income@x1.co with your two most recent personal bank statements from the account(s) in which you receive your income. We will need at least two months of bank statements, but we can review paystubs in addition (not instead of) those statements.

Thanks,

X1 Team"

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For a variety of individuals this method works in the event that linking via Plaid experiences any income/bank account verification issues. To each their own, but some may be apprehensive about linking thinks via Plaid while others have been satisfied with their results as far as approval outcomes go with X1. Not every lender will be a fit for everyone.

[Guyatthebeach]

CCrew,

I had to send them copies of paystubs to get approved.  My issue was they couldn't verify all my income due to retirement and tax deductions.  When I sent them, it was approved literally the next day.

Guyatthebeach

[CCrew]

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@Guyatthebeach wrote:

CCrew,

I had to send them copies of paystubs to get approved.  My issue was they couldn't verify all my income due to retirement and tax deductions.  When I sent them, it was approved literally the next day.

Guyatthebeach

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Thanks. I offered to send them paystubs, as you can see by the message I posted seems now they still require linked bank accounts or statements sent . While it may work for others, I'm not going to send off multiple bank statements + paystubs just to get a CC. I'm an Infosec engineer, there's this certain adversity to blindly sending off PII . I'm good with not getting the X1. Thanks for the response tho.  

[Mattopotamus]

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@CCrew wrote:

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@Guyatthebeach wrote:

CCrew,

I had to send them copies of paystubs to get approved.  My issue was they couldn't verify all my income due to retirement and tax deductions.  When I sent them, it was approved literally the next day.

Guyatthebeach

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Thanks. I offered to send them paystubs, as you can see by the message I posted seems now they still require linked bank accounts or statements sent . While it may work for others, I'm not going to send off multiple bank statements + paystubs just to get a CC. I'm an Infosec engineer, there's this certain adversity to blindly sending off PII . I'm good with not getting the X1. Thanks for the response tho.  

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If you link your bank account as a payment method, aren't you doing basically the same thing?