Credit card application failing despite personal wealth

magnum9

I have now been able to phone the cc company and verbally explain my "wealth" situation - and hey presto they were just sooooo helpful and understanding - keen to bag me!

In return I've now got one of the best credit cards on the market winging its way to me!

cards for me and my wife are in the post!

Thanks to all who posted constuctive and positive suggestions.

happy days

magnum9

Galstonian wrote:

I think this can be continued in "discussion time" if you want, the credit card forum is not really intended to discuss the morality of lending.

Also, please do not cut and paste huge chunks of posts from the this site or others into your replies. A simple link is all that is required, it saves bandwidth, storage etc.. and avoids any problems with copyrighted material.

oh please!

this is a board for, guess what, "discussion"!

So please allow everyone to post as they wish.

why get so uptight about bandwidth and storage etc?

are you running on a sinclair?

LOL!

happy days

Galstonian

magnum9 wrote:

oh please!

this is a board for, guess what, "discussion"!

So please allow everyone to post as they wish.

why get so uptight about bandwidth and storage etc?

are you running on a sinclair?

LOL!

happy days

People can post what they wish, provided it does not breach copyright and it is in the appropriate forum. This is not the appropriate forum (unilaterally decided by me in my capacity as 'board guide')

The "three month debt trap" has been posted in full from another forum in multiple places on this site, posting other peoples work may breach copyright. As a courtesy to this site and the original owners I suggest posting links or attributed short extracts.

Many people still access the site using dialup and as such do not appreciate this shameful waste of their limited bandwidth. As a courtesy to them I suggest following my ealier suggestions.

If you have any more problems with this please send me a private message.

nh

magnum9 wrote:

I have now been able to phone the cc company and verbally explain my "wealth" situation - and hey presto they were just sooooo helpful and understanding - keen to bag me!

In return I've now got one of the best credit cards on the market winging its way to me!

cards for me and my wife are in the post!

Thanks to all who posted constuctive and positive suggestions.

happy days

So it's not a case of the cc company rejecting you because you are 'too good' a borrower... I think most people's experience is that with a good credit history and income (investment, salary or whatever) you will get as much credit as you want (within limits).

If you apply to a company and say you have no income (hiding the fact that actually you have a lot put away and have an income through savings/investments) you can't then expect the cc company to give you a decent card. They are not psychic.

magnum9

Galstonian wrote:

People can post what they wish, provided it does not breach copyright and it is in the appropriate forum. This is not the appropriate forum (unilaterally decided by me in my capacity as 'board guide')

The "three month debt trap" has been posted in full from another forum in multiple places on this site, posting other peoples work may breach copyright. As a courtesy to this site and the original owners I suggest posting links or attributed short extracts.

Many people still access the site using dialup and as such do not appreciate this shameful waste of their limited bandwidth. As a courtesy to them I suggest following my ealier suggestions.

If you have any more problems with this please send me a private message.

yawn!

Have you had many party invites this year?

No, I didn't think so.

Everything that was posted on this thread prior to you sticking your nose in was relevant - I may not have agreed with everything that posters said but I sure as heck respected their point of view etc and I suggest you try and do this too.

Now, run along and "report me" asap! for daring to question your self imposed position - but personally I will not waste any more time reading your dribble.

Why not switch your sinclair off and take a nice long coffee break.


...is that better?

I thought so.

nh

magnum9 wrote:

yawn!

Have you had many party invites this year?

No, I didn't think so.

Everything that was posted on this thread prior to you sticking your nose in was relevant - I may not have agreed with everything that posters said but I sure as heck respected their point of view etc and I suggest you try and do this too.

Now, run along and "report me" asap! for daring to question your self imposed position - but personally I will not waste any more time reading your dribble.

Why not switch your sinclair off and take a nice long coffee break.


...is that better?

I thought so.

C'mon, there's no need for that. Let's just all get along shall we? Everyone is entitled to their opinion and it is Gal's opinion (and the rules of the site) that posters do not copy long bits from other sites into their posts - just provide a link.

It does annoy me when stuff gets moved though - it might get moved to a forum that no one ever reads!

magnum9

nh wrote:

So it's not a case of the cc company rejecting you because you are 'too good' a borrower... I think most people's experience is that with a good credit history and income (investment, salary or whatever) you will get as much credit as you want (within limits).

If you apply to a company and say you have no income (hiding the fact that actually you have a lot put away and have an income through savings/investments) you can't then expect the cc company to give you a decent card. They are not psychic.

I understand your reasoning, but you are jumping to wrong assumptions.

I should have made it clearer to you perhaps in that given the problems I was facing (large amount of wealth but this not being recognised etc in the same way as a salary) I decided we try to apply via my wife and not myself.

It was just a quick fix to the problem and I posted it hear thinking it a useful tip to others who may be in the "asset rich" but "salary poor" league - which I suspect to be a growing army of people in the years ahead.

nh

magnum9 wrote:

"asset rich" but "salary poor" league - which I suspect to be a growing army of people in the years ahead.

I live in hope!