Credit card application question

So my fiance is one of those people who pays cash for everything (well, he uses his debit card for everything) so I have been bugging him to apply for a credit card so he can establish greater credit in his name.

So he applies for a Chase card that he got a pre-approved (you know the gimmick) thing for in the mail. We use our P.O. Box for all of our mail, and this is where the pre-approved application came. He calls them and they tell him that an approval would take 30 days (all of mine have been instant) and that he couldn't use a P.O. box as an address, that they would only process it after they mailed a confirmation of address to our actual street address.

So he gives them our address and they mail this letter from him that says in order to process his application, they need to see a utility bill in his name with our street address listed on it and they want a copy of his social security card! It said if he didn't respond in 30 days, then they would consider the application terminated.

We decided not to do it, it sounds shady, but it was a Chase card!
I'm curious if anyone has ever heard of such requests before?

Re: Credit card application question

There is no way I would do it!!!!!

Re: Credit card application question

I would call Chase and see if that is their normal process. I have had a few experiences that I thought were odd, but it turned out to be legit. Sadly though, you can never be too careful!!

Re: Credit card application question

The reason they're doing that is because he has no prior credit history. They want to confirm that he is in fact a real person with a real identity and address.

If you want the credit card, I would recommend contacting Chase and following their instructions. Not having any credit history is something that can seriously and adversely affect your credit score.
Hope this information helps.

Re: Credit card application question

Thanks for the responses so far.

He actually has had credit cards in the past, and still has an active one that he's had forever but still has only a $500 limit. I had him keep that one because the longer you have a credit card the better your credit score can be. I just want him to have more credit.

Another question:

Does anyone know that website where it lists all the different credit card offers out there and compares the rates and terms?

Re: Credit card application question

FYI, it's not the amount of time you have a particular credit card that's important, it's the length of time that you have had an established credit history. He can cancel that card if he does not use it or does not want it.

Re: Credit card application question

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Posted by groom

FYI, it's not the amount of time you have a particular credit card that's important, it's the length of time that you have had an established credit history. He can cancel that card if he does not use it or does not want it.

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Not entirely true. It looks better if you have had the same revolving account open for many years.

Re: Credit card application question

The reason that they are asking for the utility bill and a copy of the SS card is due the the increased 'Know Your Customer' requirements from the US Patriot Act. Banks can't establish new customers unless they have an actual street address - that is why they wouldn't use the PO Box. In addition, they have to confirm that the street address actually exists by having something mailed there - such as a utility bill or you could use a lease or a mortgage of some sort.

Since he has a debit card if it has a Mastercard or Visa logo, that is helping to establish his credit.

You can always go to the bank, Chase or Citibank, and apply for the credit card there if it makes you more comfortable.

Re: Credit card application question

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Posted by shamrock12472

The reason that they are asking for the utility bill and a copy of the SS card is due the the increased 'Know Your Customer' requirements from the US Patriot Act. Banks can't establish new customers unless they have an actual street address - that is why they wouldn't use the PO Box. In addition, they have to confirm that the street address actually exists by having something mailed there - such as a utility bill or you could use a lease or a mortgage of some sort.

Since he has a debit card if it has a Mastercard or Visa logo, that is helping to establish his credit.

You can always go to the bank, Chase or Citibank, and apply for the credit card there if it makes you more comfortable.

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Thank you! I feel better. Maybe it's a good thing that they asked for the info... We'll do more investigating. Good idea about applying at the bank itself.

Re: Credit card application question

Also, add him to your credit cards as an authorized user. That will add to his credit report. I did this on one card and it was on DH's credit report before we were married!

Re: Credit card application question

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Posted by PrincessRose

Also, add him to your credit cards as an authorized user. That will add to his credit report. I did this on one card and it was on DH's credit report before we were married!

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Not necessarily true. I have been an authorized user on one of FH's accounts for over a year and it doesn't show up on my credit report.