Faxing Paycheck Stubs for Reconsideration of CC Denial

[Anonymous]

Has anyone had any luck with this?  Have you volunteered it?

I think proof of income should play some part in determining who will and won't default on a line of credit.  I've always thought the only reason it's not is that collecting income data is too difficult and time-consuming unless the purchase is a major one.

I'm at a very odd place in my credit rebuilding.  I can get a mortgage for 325,000 (with 7.8%), but can't get a d#$%'ed 400 cl cc.  So, I think I'm going to start asking cc's that deny me credit if they'll let me send proof of income.  Orchard Bank would not graduate me from unsecured to secured with 18 months of perfect payments, no overlimits etc.  So here I am, making 90+ per year, and I can't get anything but a secured cc or crap one.

UUgghh!  Sorry for the rant.  Just looking to try a new tactic....

Message Edited by ALEXREDD on 06-13-2007 02:55 PM

[Anonymous]

What are your FICOs and who denied you?

Don't rule out Cap 1. You can game them and get the benefit of the CL. It's a start. Lots of folks have good success calling Cap 1 each year after the first and asking about the annual fee. They will usually waive it, but you have to call each year.

[Anonymous]

(FICO) TU 584  EQ 608  EX 593

Denied by:

Orchard (unsecured)

BoA (SECURED! and unsecured)

Macys

Target

Walmart

I looks like I'll have to pimp the Cap one. 

All I really want is a first one Southwest Airlines Visa.....

[Anonymous]

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ALEXREDD wrote:

(FICO) TU 584  EQ 608  EX 593

Denied by:

Orchard (unsecured)

BoA (SECURED! and unsecured)

Macys

Target

Walmart

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First, I would try a recon letter to all who denied you. BOA is one of Satan's minions, but recon them anyway. Read Tuscani's thread about Recon.

Target tends to be very conservative, and I think the same is true of Macy's. But again, recon them anyway.

[Anonymous]

What type of negs do you have on your CR and how old? With out negs, proof of aged income will get you almost anything. Yes it helps. But recent income doesn't count as much as a tax return.

Message Edited by ilovepizza on 06-13-2007 03:21 PM

[Anonymous]

Defaulted SLs.  In month 7 of 9 month rehab plan.  Couple of old (5+ years) cos.  AU on two big cl cc (16K and 15K).

[Anonymous]

with EX score of 573 and chargeoffs/derogs as recently as less than 1.5 year old...I got approved for Hooters, Wamu, and Amex Delta...Maybe you can give those a shot? Oh, and i make alot less money than you do and probably alot younger than you. Im only 24.

Message Edited by Irvin on 06-13-2007 07:21 PM

[Anonymous]

Well, I'll tell you that you seem to have your life a lot more together than I did at 24.  At 24 I probably couldn't remember my home phone number, much less my FICO!  Thanks for the tip.  I'll try hooters. (can't type that without giggling)

[Tuscani]

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ALEXREDD wrote:

Well, I'll tell you that you seem to have your life a lot more together than I did at 24.  At 24 I probably couldn't remember my home phone number, much less my FICO!  Thanks for the tip.  I'll try hooters. (can't type that without giggling)

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Good luck! The Hooters card is a great novelty factor. I use mine for groceries and at church.. LOL