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i am just curious, i have been honest with my income, but i am curious what happens to those that enter the 'FRying pan' and aren't honest about income. do they make it out of the 'PAN' with some bruises or are they 'ready to serve'...
Speaking from knowing some one who was put through the FR. They originally put total household income down when applying. When he sent his information in it did not match what he reported. He was about 55K short of what he put when applying. They immediately froze his account, and closed it after payment was received.
He could not figure out what he did wrong or what the reason was, so he called to speak to them again and that is when he found out that his income had the 55k discrepancy. When the CSR figured out he may not have included total household income she brought it to his attention. Once it was realized and he sent the additional information they re-issued another card and over nighted it. It did have a new account number on it but his member dates stayed the same.
Just to clarify he is married but they file separately so when sending w2 to them he only sent his in. It slipped his mind that he may have needed his wife's also.
@scottwagnon wrote:i am just curious, i have been honest with my income, but i am curious what happens to those that enter the 'FRying pan' and aren't honest about income. do they make it out of the 'PAN' with some bruises or are they 'ready to serve'...
pretty much figured the results couldn't be good (CLD, Closure, Blacklist?) may depend on how much of a disparity and if they consider mitigating factors, if there are any.
...was astonished after going through the process and releasing tax info a couple of years ago, the nice woman who handled mine said 'ok...going to release your acct back unchanged... but did notice income at 980,000...' WTH? I honestly started laughing and said 'that's an extra "0", I wish!' She didn't even chuckle but released it back nonetheless, dead pan about the discrepancy. Can only guess, in this instance they realized I had not actually misreported and it was a clerical error...either that or the rep wanted to give me a big scare!
They did eventually CLD....then CLI. we laughed, we cried...
@Anonymous wrote:I'm interested in knowing how 7 new account openings will change your credit score.
I did a app spree about 8 months ago when I didnt know it was a bad idea. I started at a 681 after the 7 accounts I opened when they all hit my report my score went to 585. It KILLED my AAoA. I have pretty new credit history so it really tanked my scores. It came back up after a few months but depending on what your reprt looks like it could really hurt.
mrROSS1080, was amex one of your new accounts?
to readers, would like to know about blacklisting, how likely are FRs to blacklist and for what kind of reasons?
@scottwagnon wrote:mrROSS1080, was amex one of your new accounts?
to readers, would like to know about blacklisting, how likely are FRs to blacklist and for what kind of reasons?
No, I got amex when my score rebounded a few months later. They FR'd me when I charged my rent on my green card. Almost instantly after I charged it. The FR went fine and ive been using it happily ever since. I charged my rent the next month and it went fine. Im a sucker when it comes to getting points.
the reason why i am so curious and why alarm bells have been going off in my head is because i was going over my experian file and i noticed they did an AR (november 12) on me after my first PIF (my statement had just cut too). nothing has happened or come of it. i made another payment on it today 130 over the phone since my bank enrollment is new.
as of now including recent activity and pending charges, my total balance is 89 dollars. which means probably tomorrow, my available credit will be 1911.
Only time will tell. If it happens youll know right away. They call you. I was at dinner with my wife. With me they didnt suspend the card and then call me. The women suspended it while I was on the phone with her explaining all the details of the FR. So in my case they where courteous enough to let me know. I was going to use it for dinner. Capital One got my business instead.