Credit card application

Anonymous · ‎08-30-2017

Hi, I am VERY new to credit cards and this is my first post on here. I am sure this is a dumb question but I wanted to know something. My brother and I have a joint bank account and pay all of our bills out of that. I applied for a card and got denied because they sad I don't make enough to pay my bills. When you add my brothers income then we have plenty of income. We are joint on the house and both cars. Can I call and explain that to them or will it even matter? Thanks in advance for any help.

Anonymous · ‎08-30-2017

@Anonymous wrote:
Hi, I am VERY new to credit cards and this is my first post on here. I am sure this is a dumb question but I wanted to know something. My brother and I have a joint bank account and pay all of our bills out of that. I applied for a card and got denied because they sad I don't make enough to pay my bills. When you add my brothers income then we have plenty of income. We are joint on the house and both cars. Can I call and explain that to them or will it even matter? Thanks in advance for any help.

Welcome to MyFICO

Its not a dumb question. What credit card did you apply for? Some companies will allow you to call and ask them to reconsider their decisions, others however will not. Generally they will consider any income that you routinely have access to so it might help but siblings sharing income is a bit out of the norm so it may be difficult to overcome the denial depending on the creditor. The more information that you can supply regarding your personal credit file and income, if you feel comfortable sharing that, will help us give you suggestions on the card that you applied for or maybe direct you to others.

Anonymous · ‎08-30-2017

I am a member of Pentagon Federal Credit Union and applied for the Promise card. The only reason for denial was that they said I did not make enough to pay my bills. My scores are in the low to mid 700's and I have other credit cards,

Anonymous · ‎08-30-2017

@Anonymous wrote:
I am a member of Pentagon Federal Credit Union and applied for the Promise card. The only reason for denial was that they said I did not make enough to pay my bills. My scores are in the low to mid 700's and I have other credit cards,

Thanks for replying back. PenFed is really good about letting you appeal their decisions. They will send you an email survey within the next day or so and that is your opportunity to explain your financial situation in better detail. It's even better if those joint accounts are with PenFed so that they can verify your information. Typically after filling out the survey you will then be contacted by a loan officer and you can then go over your application with them. People have had great success in overturning denials via this process. Good luck and let us know how it turns out.

Anonymous · ‎08-30-2017

Thanks for the information. I will keep you updated.

shoegal · ‎08-30-2017

Penfed also lets you add a cosigner to your credit card application. Just in case you and your brother wanted to app together or use that in the recon with them.

Anonymous · ‎08-30-2017

Called PenFed got very nice young man named Michael. He took my information and spoke with a loan officer for reconsideration. He came back and said that I would have to email a letter for reconsideration with the new information. I did, now just wait and see.

But on a happy note I got a call from a nice young lady named Kaila from NFCU today, I was approved for the Cash Rewards card for $4200 credit limit. I had actually forgotten that I had applied for it.

Anonymous · ‎08-30-2017

Nice, congrats!!!

Read more on this forum, you will learn A LOT!

Anonymous · ‎08-30-2017

Thanks! I have already learned ALOT!