Hey! So I applied for a Capital One Venture Card needing a new credit card. My credit score is 784, was over 800 but my CL is low on my other card so plane tickets brought it down. Anyways still decent credit. And I liked it’s reward and was prequalified even though that is just a gimmick I know.
Well I got an email on the 1st asking for verification of proof of annual income. Being a doctoral student I work two jobs part time but don’t make as much annually. I get lots of scholarships but I don’t think they count do they? I do side gigs as much as possible for extra money. It says you can put someone who pays your expenses down as part of income (like a parent) if you are over 21. My parents said to do this and list my mom.
Note: my last CC with BOA was to be in my name with her co-signing but they screwed up and put it in her name with me like I’m on my parents card. They can’t undo it no matter what. Very frustrating. This did not happen to my twin brother when they did this. So co-signing annoyed the whole family.
Anyways, what all can I include in income? How do I make sure I include everything possible? I don’t spend more than I have (and follow the less than 30% use of CL) but I like the rewards program. How do I include my mom’s income for expenses? I know I need a letter signed by her. Any examples of such letters? We have a letter with information then a breakdown of expenses covered then their total then her annual income. Then she signs it. I referred to her past two years of tax returns which will be submitted as well. I also have my own letter for my annual income and how much I make at jobs and gifts and side income with my W2s and tax returns referenced.
Do these letters need to be notarized or just signed by us? I’ve seen people say various things. And with the weekend no ability to call. Their twitter chat people are super unhelpful.
And again, what types of income are acceptable and that I may be forgetting? And I take it scholarships are not? (I know loans aren’t they are just more debt).
But when they run the debt to income ratio or whatever will that be very skewed by student loans?
Thanks in advance and appreciate all the help I can get to navigate this! I don’t want to go to jail that I keep reading about. 30 years in prison doesn’t interest me. But being a newbie freaks me out
Submitted March 04, 2018 at 07:33AM by bgcurtis96 http://ift.tt/2tgsi16
