Has anyone ever got this before? Recently Hubby responded to an offer from CitiBank for a mastercard...today in the mail I got a letter that says that in order to continue processing his application they need verification of employment: either a pay statement, w-2 form, or letter on compnay letterhead signed by the personnel manager. Is this normal? Will it generally produce a denial or an acceptance? I have all of the forms of course, but am just curious as to whether I should send them.. Thanks Larissa
NOPE! They didnt verify anything before applying. Surprising they called my job to verify employment after I got my cards.
Yes this would be normal because there is a few reasons for any creditor to verify employment,or w-2 forms.The main reasons for them to do this would be as follows; 1.Having a short amount of time at your current job could be one.Changing jobs too much can cause them to be concerned about your stability employment wise. 2.Your credit rating could be low or you may not have a long credit history to satisfy them with. 3.You rent instead of owning a home.Owning a home proves too them that you are very stable,and shows that you are a lower risk too them. 4.Lack of bank accounts both checking,and savings.Some lenders do reqire this before extending credit to you. Well that is all that i can think for now,maybe some others on this board may have more answers then what i got.I hope this can be of some help to you.
It could be that they feel your income is out of line with the average of others in similar positions. breeze
Citibank did not verify any info when I was approved for two 9k cards at January01 MBNA requested proof of employment
Hmmm...so what should we do? He has been at his job for 7 years, but the company was just bought out last year and changed their name. We do rent rather than own...his income is 30-40K He really wants a MC, but I don't know if he should be giving this info out...but then I guess if they really want to know they have his SS# Larissa
Why shouldn't he give this info out? They are going to extend him unsecured credit. They have a right to know. I don't think it's anything tricky. It might even be the change in the name of the company. Why wouldn't you want to tell them? breeze
Its not that I don't...as a matter of fact we went ahead and sent it. It's just that everyone on here does not advocate giving out any extra information, thats all. Thanks
You already gave out the information when you applied. They just want proof, that you are not lying. Really simple.
