Hi, I am self-employed. Do I have a chance to apply for Credit card. I don't have any delinquency on my credit report. I have citibank Student Card for 2 years with $3000.00 limit and now I graduated but I am self-employed. There is no way to varify my income. Any chance?? Thanks in advance.
Yup. I guarantee you most of the banks dont. Why don't you ask citibank? They will probably give you a new fat card with more limit, since you've been such a good customer.
Hey Sam I saw a thread a page or 2 back and a "sam" posted they got instant approval for Juniper card, was that you or are there 2 sams??? Mom
When you apply, don't tell them you are self employed. Just the business name and what your position is with the company.ie: President, CEO. They tend to give higher limits and better cards to those in management positions. They usually don't verify employers or income.
Thanks Geo: I believe I read that somewhere on this site under the other menu options, but when I looked for it I couldn't find it. I'll post when I do.
RE: Hey Sam Mom After I read that thread with Sam's reply, I checked the email on the names. The other 'Sam' is really a Pete!
But... But they also ask for the business address and business telephone number, How long working there. What should I do? or just make it up?
RE: But... You never want to make it up. If you are applying for a credit card most likely they only need the information from your credit report. On some occassions they may ask you demographic questions which would include that information. Most credit card companies are linked up with a national system that may or may not already have an income range determined for you. Although they are not generally very accurate they still may go with what they are showing.
RE: But... Maybe so, but most cc companies only ask for annual "Household" income, from all sources. How do they know you dont have a trust fund, alimony, lawsuits/ins., inheritance, settlements, the list could go on and on. I don't think they/CRA's keep a database of your salary history.
RE: no They don't keep a record. Some places will call you up at work to verify your phone # is valid. Some low end cards will ask for proof. However 99% of the time the fico score is based upon what you alone say. So include any scrap of extra income (mow any lawns?) to make your limit higher. They use fico to bracket you into risk categories, and then base your limit upon your (unverified) income. Obviously, a computer will detect if you have a 600 fico score and you make $150K/year that something is not kosher!
RE: no Sam, Are you trying to say that someone who makes 150k/year couldn't possibly have credit as low as a 600 FICO? Earning a lot of money does not necessarily mean that person has a good FICO score.
RE: no 2.5 years ago, we had an annual household income of $131,000 (70% of it mine), and my FICO scores were in the mid 500's ...
RE: no Well, here's one for you. My son has an annual income of $20K. Has a perfect credit history for 5 years. Just got an unsolicited card, Yep I said card not an ap or an invite, in the mail with a $100K limit 9.9 fixed. That verifies my theory, that incomes are not reported. He couldn't even afford the min. monthly payment on a card like this. He cut that baby up, Hes a smart kid.
RE: no It is absolutely illegal for any company to send an 'active' credit card to anyone without that person's consent. Otherwise, people would be stealing cards out of the mailboxes and using them, and the person being hosed wouldn't know it because they never applied for the card. I'd report the company.
