Applying for Credit Cards

[Avid Reader]

You don't have good credit anymore?

I dont live with relatives anymore..

[Yitzter]

I dont live with relatives anymore..

Last time I checked, that doesn't ruin ones credit.

[Avid Reader]

Last time I checked, that doesn't ruin ones credit.

Who said it does?

[Yitzter]

I'm too tired to explain. Figure it out.

[coralsnake]

I put in the truth; What it says on my tax returns.
This way, if I ever get financial review, Im not worried (maybe I still should be?).
I pay off my credit cards in full every month and dont expect the FR to ever be an issue anyway.

I know that the problem is that many people here either are bochrim who dont have jobs or people that dont report much or show much on their tax returns.

[Schneur]

ok, thanks all for the advice.

now if i already have submitted applications in the last 5 years, should i keep the info on new apps the same? or does it matter if it changes? also if it changes, it should probably go up, right?

one last question, if i am churning Citi AA, so now i have 1 consumer and 1 business, do i have to close one before i reapply?

thanks everybody!

[Avid Reader]

one last question, if i am churning Citi AA, so now i have 1 consumer and 1 business, do i have to close one before i reapply?

You can have the old one open at the same time you apply for the new one but you have to wait 60 days before reapplying for the personal card and 90 days for the business. Not sure if you can get the miles for the new card if you dont close the old card, but from what I read from Dan it seems like you should. Can someone confirm?

[coralsnake]

You can have the old one open at the same time you apply for the new one but you have to wait 60 days before reapplying for the personal card and 90 days for the business. Not sure if you can get the miles for the new card if you dont close the old card, but from what I read from Dan it seems like you should. Can someone confirm?

It worked for me.

[ash]

it better work for me

[Yitzter]

Same here, If I do get around to doing it sometime in the near future.

[Avid Reader]

It worked for me.

Well then it should work for me too..

[elizmm]

You can say what you want on your application - rarely do they ask for verification.

Writing you make $70,000 and that you have money market accts, as well as saving and checking (rent home for 10yrs $700 a month and at job for 3 years) should get you a nice credit line.

Just bear in mind that this borders (or is) mail fraud, but i dont think this is the FBI's top priority right now...

[Other Guy]

You can say what you want on your application - rarely do they ask for verification.

Writing you make $70,000 and that you have money market accts, as well as saving and checking (rent home for 10yrs $700 a month and at job for 3 years) should get you a nice credit line.

Just bear in mind that this borders (or is) mail fraud, but i dont think this is the FBI's top priority right now...

However keep in mind that if you have make so much money but have zero credit it looks kind of suspicious... the same goes for claiming you own the house when you never had a mortgage.

[coralsnake]

However keep in mind that if you have make so much money but have zero credit it looks kind of suspicious... the same goes for claiming you own the house when you never had a mortgage.

Many people own houses without mortgages.
Some people buy in cash, and others inherit.

But as far as credit card applications go- If you dont own a house, why would you say you do? It doesnt make you more credit worthy if you own.

[rover771]

why dont you churn both aa personal cards (mastercard and amex from citi (amex is new i still have my visa from feb 08)) i do it all the time (in business you can only do one every 90 days so take your pick of mastercard or visa)

[nfsnyc]

I put in the truth; What it says on my tax returns.
This way, if I ever get financial review, Im not worried (maybe I still should be?).
I pay off my credit cards in full every month and dont expect the FR to ever be an issue anyway.

I know that the problem is that many people here either are bochrim who dont have jobs or people that dont report much or show much on their tax returns.

Would stuff written on CC applications actually pose such problems? Such as no reported income but "15k income" on CC application??

[Smirk]

Would stuff written on CC applications actually pose such problems? Such as no reported income but "15k income" on CC application??

yes if you write you have a certain income and the do a financial review and ask for documents to prove the amount you said, and you cant, that can screw things up, i know this happens with starwoods, im not sure with other cards such as capital one. anyone know?

[nfsnyc]

Well what would spark a "Financial Review" anyways??

[Dan]

Well what would spark a "Financial Review" anyways??

http://www.dansdeals.com/archives/2537