@MikeyMagic wrote:I will definitely look into the tax thing more but I did speak to a lawyer maybe 2 years ago and he told me because I was homeless for 2 decades with no assets at all, he very much doubts the IRS would be the least but interested in me. Plus he was telling me about the statute of limitations which he told me would apply I think on anything owed from 15 years ago or 10 years ago or something.
I don't remember but I will look into it.
Last question on this Chase thing but I trust your opinion - if I keep my Chase checking account with $300 in it for a year give or take - will that hurt my chances for getting approved for a higher level Chase credit card when I want to apply again? I'm worried even though I'll pay my Rise off every month for a year from Pathward, Chase will only see $300 in my checking account and not approve me. Or if they do it'll be another $500 CL. They shouldn't do that and it would be unfair because I could have $3000 or more in my Pathward account and I would be paying a bunch of credit cards off every month. And my credit score will be much higher. But I could easily still see Chase screwing me because they see a measly $300 in their account.
What do you think?
Yes, even with the Statute of Limitations (typically 10 years), IRS could still audit and demand payment for 2013-2023 as well as submitting for the criminal prosecution, so catching up and filing from this point forward would be a wise move. 
You'll sleep better.
Again, banking activity and credit are unrelated. Credit score and income are unrelated, for that matter. You can have a low credit score with high income or a high credit score with low income. (However, credit score is used by the underwriters alongside income and debts when you apply for a new credit card.) So, no, keeping a low balance in your Chase checking account won't affect your approval odds on a new credit card. That application would factor more on your FICO score at the time along with overall credit profile and income/debts. Your responsible usage of that Chase card (regular usage and payment history) will work to your benefit but a low banking balance won't be held against you.
@Aim_High wrote:
@MikeyMagic wrote:I will definitely look into the tax thing more but I did speak to a lawyer maybe 2 years ago and he told me because I was homeless for 2 decades with no assets at all, he very much doubts the IRS would be the least but interested in me. Plus he was telling me about the statute of limitations which he told me would apply I think on anything owed from 15 years ago or 10 years ago or something.
I don't remember but I will look into it.
Last question on this Chase thing but I trust your opinion - if I keep my Chase checking account with $300 in it for a year give or take - will that hurt my chances for getting approved for a higher level Chase credit card when I want to apply again? I'm worried even though I'll pay my Rise off every month for a year from Pathward, Chase will only see $300 in my checking account and not approve me. Or if they do it'll be another $500 CL. They shouldn't do that and it would be unfair because I could have $3000 or more in my Pathward account and I would be paying a bunch of credit cards off every month. And my credit score will be much higher. But I could easily still see Chase screwing me because they see a measly $300 in their account.
What do you think?
Yes, even with the Statute of Limitations (typically 10 years), IRS could still audit and demand payment for 2013-2023 as well as submitting for the criminal prosecution, so catching up and filing from this point forward would be a wise move.
Again, banking activity and credit are unrelated. Credit score and income are unrelated, for that matter. You can have a low credit score with high income or a high credit score with low income. (However, credit score is used the underwriters alongside income and debts when you apply for a new credit card.) So, no, keeping a low balance in your Chase checking account won't affect your approval odds on a new credit card. That application would factor more on your FICO score at the time along with overall credit profile and income/debts. Your responsible usage of that Chase card (regular usage and payment history) will work to your benefit but a low banking balance won't be held against you.
Thx so much. I meant will Chase hold it against me because I read that they look at whether the applicant has a Chase account and what their balance is, which could affect the application and or the credit limit given. Maybe I have Chase paranoia but I've read up on them a ton and there are so many stories lol.
@MikeyMagic wrote:Thx so much. I meant will Chase hold it against me because I read that they look at whether the applicant has a Chase account and what their balance is, which could affect the application and or the credit limit given. Maybe I have Chase paranoia but I've read up on them a ton and there are so many stories lol.
I don't think they will hold it against you.
Remember that those "stories" probably include a lot of speculation and rumors about the causes of credit problems. Take any of those reports with a bit of skepticism. I've had Chase credit cards for over 20 years and for most of that time, I didn't have any banking accounts with them at all. Among others, I got a $35K SL on a Chase card with no deposits with Chase. Maybe some of those reports failed to point out other pertinent information such as their usage or payment history on their cards, or other credit factors. If they did have a low balance on the account, maybe that indicates being over-extended with their credit or irresponsible behavior.