Personal Line of Credit - No Proof of Income

[rdwilson7071]

Hey everyone (1st post!),

Are there any banks/credit unions that offer personal lines of credit without having to provide proof of income?

Any reccomendations would be appreciated!

[Anonymous]

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@rdwilson7071 wrote:

... Any reccomendations would be appreciated!

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I'd recommend searching this particular subforum for "PLOC" and you'll find many different approvals. I will suggest most of those require no POI, but if not explicitly stated you can always ask the OP in the thread or DM.

Personally I have two: NFCU 15K & RBFCU 5K. Neither required POI.

Good luck.

[Shooting-For-800]

Often POI requirements vary dramatically depending on claimed income and your CRs.

Navy Federal did not ask me for any POI for any of my 3 credit cards with them based on income in the 6 figures.

Of course, honesty is best just in case...

[RickNATL]

Didnt ask:

- Penfed
- Navy Fed

Asked:
- Georgia's Own
- Wells Fargo

[Anonymous]

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@RickNATL wrote:
Didnt ask:

- Penfed
- Navy Fed

Asked:
- Georgia's Own
- Wells Fargo

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Never been asked for POI by:

1. Navy

2. PenFed

3. HSBC

4. Citi

5. Wells Fargo

6. BMO Harris

7. US Bank

YMMV.  Some get asked for POI and others do not.

[Anonymous]

I think the better question is, are there any Banks that offer LOC without a HP? lol

Aside from the reasons that have been discussed regarding 4506-T and what 3rd party it goes through. I've never understood the aversion to POI, it's fairly simple process to upload docs to the Lenders. At least for my Personal Loans it was.

[Namaste7]

Other posters provided good DPs. IMHO, the answer will depend on your relationship with the bank or CU. If you have an existing credit product with a bank/CU, you may not have to provide POI on the PLOC app.

Sometimes, the institution will indicate if POI is required based on the amount requested in the LOC application. If you do not have a depository or credit relationship with a bank or CU, PLOC approval may be more challenging with or without POI requests.