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Author: malachite Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308782  
Subject: Re: Incorrect Income troubles Date: 9/23/1998 2:23 PM
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<<I suppose I could do that. Except I fear that FirstUSA's reject might have a
negative impact. Especially since the reject said "Insufficient Income"... Any
thoughts on that? >>

"Are you sure that will be reflected in your credit report ? I would request a copy.
If you cancel the card, you can request the report reflect "account closed at
customer request" and be sure to request a letter stating the same thing. One of
the posts way back lists the credit agencies and probably a different one lists the
states in which you are entitled to one free copy of your report each year. (I don't
know if being denied additional credit is the same as a denial of credit in which
case your are also entitled to a free copy of your report.) "

I think there might be a time lag as to how long it takes the credit report to realize that you make more money. When I first left grad school and got a "real job", I applied for one of those limited-time 4.9% deals to transfer my higher balances. I listed my new, improved income. I then got whammied twice in a row with the "you already have too much credit" and "too many recent credit checks" lines. The second one spooked me into not trying again for a number of months. A couple months ago I tried again (with Citibank, BTW, which I've had much better luck with) and they gave me the 4.9% for a year (on transfers only, but I don't make charges anymore so it doesn't bother me) and a $5000 credit limit. The moral of my babble: if your income only just went up, the credit agencies might not know it yet. But I definitely want to reiterate what RF said; get a copy of your credit report and see what is amiss. It can't hurt you to do it in any case.

Fool Away,
Mal.
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