Wife Received AMEX Offer - Question RE: Application

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Wildcat_1
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Wife Received AMEX Offer - Question RE: Application

Postby Wildcat_1 » Tue Jul 30, 2013 6:45 pm

Hi all

Here I am trying to get a targeted offer of something nice and nothing. However my better half gets a nice (not phenomenal but nice nonetheless) targeted offer for Blue Sky.

My question however is that as I am the sole income source can she apply for these cards (wasn't sure with all the changes in economy and credit apps etc) even though she doesn't have a direct income ? If so what would be the process or how would she classify that on the app ?

Just wondering how we get her a card without me getting one and having her on it if that is a possibility

Thanks all

WC


Midori
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Postby Midori » Tue Jul 30, 2013 10:22 pm

The CARD Act got revised at the beginning of May so that SAH's can use household income. Card companies have 6 months to comply. I've seen some card offers come through reflecting that change in their phrasing; I see others that haven't.
So I called AMEX and asked them-- I'm a SAHM; I have a side biz that brings in $x; my husband brings in $y, plus some minor extra $z on the side. What number did they want on the application?
I was told that it was okay to quote whatever amount I had access to.
I ended up lowballing and using $y in my Blue Sky app earlier this month, instead of $x + $y + $z.

Wildcat_1
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Location: Corvallis, Oregon

Postby Wildcat_1 » Tue Jul 30, 2013 11:06 pm

Midori
Thanks for the info. This app asks for total income and then asks you to check if you are self employed or business owner. Then under total income says "include your income from all sources clouding employment, retirement........" . It also asks for employer name if not self employed.

My wife is a SAHM with no income right now, I am sole income provider at this time so not sure how we should complete this or even if she would qualify for her own account using a number that relates to some of the household income etc.

Thanks for any additional info

WC

Midori
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Postby Midori » Wed Jul 31, 2013 7:53 am

Why don't you/she go ahead and call the number on the app? (1-888-525-8375)
The rep will read you their script about the card and what it offers. Then they'll ask what they can do for you.
You/she can say, "Hi, I have an application for the BlueSky. It looks like a great card, and I'm filling out the application, but I'm a little uncertain. I'm a stay-at-home, but my husband makes $x. I know the Card Act changed back in May to give stay-at-homes the ability to claim their household income. Am I able to claim $x as my income, and if so, how do I fill out the 'employer' field?"
They'll tell you what you need to do if you can't fill it out as "self". They'll offer to fill out an app for you on the phone. I think it had 10,000 bonus points for $1k of spend when I called Customer Service at the beginning of the month. I filled mine out on the computer with my RSVP code, so I'm hoping I get the 30,000/$500 they were advertising in the mail. (Yay, just realized it was $500 and not $1k!)

Wildcat_1
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Postby Wildcat_1 » Fri Aug 02, 2013 5:31 pm

Just a follow up here. The rep is saying they cannot use household income and werent aware of any changes yet :( I guess maybe too early and will have to wait

Midori
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Postby Midori » Fri Aug 02, 2013 7:52 pm

Hm, very odd.
I called around 9 or 10 pm CST. You guys might try calling in later in the evening, and see if you get the same story twice.
But the law has definitely been modified back in May, so the only question is when, before mandatory compliance in November, does Amex come into compliance.
Maybe the rep you got wasn't updated. Or maybe my rep was misinformed. But it would be worth double-checking. Otherwise, you just have to wait until fall... I was on my third consecutive Blue Sky solicitation (and probably fifth or sixth or seventh since last year) before I finally gave it a go, so there's a good chance that she'll get other invites after this one expires. If you don't jump on it, they kept sending you new ones as soon as the old invites expired...



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