Credit Card Lounge

What happens to the credit card application after the bank accepts it from the applicant? I have heard that they are bundled together wth other credit card applications and sold off to invetors in the secondary market as financial assets (securities). Is this true? Is this why I can’t get it back?
The reason I ask this question is because I just started taking some banking/finance classes. In one of the textbooks it talks about securitization. I short it describes our promises to pay as financial assets that are then bundled together and a bond is issued by the bank backed by our original promise to pay (credit card applications) and sold into the secondary market to investors. The interest and principal payments are then passed onto the investor, while the bank collects a servicer fee for collecting the monthly payments from the debtor. The bank is thus acting as a servicer. I was just curious as to why this was not disclosed in the application before I signed it.

Just seems if we regular people did something like that we would find oureslves on vacation in the gray bar hotel!

The store I work for is now pushing us to offer credit cards applications to every single client and the ones with better performance will get more hours. I am having a hard time finding the right words to close the deals.

What techniques or phrases you use that you think you get better results when you use them .

Thank you very much.

B of A contacted me regarding an unpaid credit card account. The account holder has the same name as mine but the address is in Florida. I live in Chicago. I disputed that it was not my account. B of A insists it is mine. I asked for a copy of credit card application but they refused to provide me. How can I prove it is not mine??? It is very frustrating. Any advice will be appreciated.

I’m 20 years old and I just applied for the Amazon Rewards Visa credit card. Recently, my father moved out and now my mother and I have less of an income. However, when I applied for the application, I put down an estimated household income amount of when he was here. Now that’s he’s gone though, I’m worried the credit card company may see that it is less, and I really don’t want to get in trouble. Could I get in trouble for doing that? Also, should I retract my application to avoid getting in trouble? I’m really worried now. I’ve read horror stories about people lying on their credit card applications and the banks blacklisting them and they can never apply for credit again. I’m absolutely terrified that the bank might do this to me because I put the wrong income amount. Before he left it was around $160,000 which is what I put on the application, and now it’s less than that!

it says it will show $30 credited on my credit card statement from using it on my first purchase
so i get $30 subtracted from my order?
please let me know if i am correct
http://www.amazon.com/gp/cobrandcard/marketing.html?ie=UTF8&pr=bus321
thanks!

ok… i want a credit card but if i had it sent to my house, and my parents found out they would flip. I want to get the stuff delivered to my p.o. box so that my parents won’t find out about it. But the only problem is that on all of the credit card applications, it says “no p.o. boxes” So is there anyway that i could trick it into sending to a p.o. box?

I just applied for a credit card and my application was aproved. I listed a couple other credit card amounts I want transfered. The credit card is going to be sent in two weeks but they never stated how much my credit limit is. I just wanted to know if my other cards will be in the process of getting paid through this one card since I provided my info. or do I have to provide the info again once my card arrives because I’m pretty sure I still have to wait until I activate it, right? how does that stuff work? they never gave me confirmation about the cards I submitted or anything for that matter all I have to do is wait for my card, but I’m in limbo Idk what’s going on and I need my bills paid!

I applied for Target, JCP, Sears, Wal-Mart, Macys and Sears they rejected my credit card application because I have No Credit history?! I think, No credit is much better than Bad credit!!!!

What can I do in this case? I need to build up my credit history.
Please advice.

Angela

I am in college with a cruel joke of an income, aside from student loans, I have no debt.

Of course, I am also getting a million “pre-screened” credit card offers in the mail.

I read at the bottom of one of these letters that I can call a number to opt out or getting these credit card offers.

Is it wise to opt out of getting them, or will I miss some sort of great deal?
I am not asking if cards are “bad”, we know they are.

Do I want to stop getting the OFFERS in the mail?

Or should I just keep getting my mailbox jammed full of them?

I’ve been reading around that when you fill out a credit card application it goes to the credit bureau as an inquiry and it can knock down your credit score. Say for instance you have no credit history and have never applied for a card before but when you finally did you were denied. If this were to happen would there be a score that could be “hypothetically” knocked down if you’ve never even had credit before???