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ktpaes

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Why are credit card companies asking for a detailed personal financial statement?
I have impeccable credit, >800 credit score. Never miss a payment and pay off the entire balance each month. I periodically (once a year) ask for a credit line increase and always receive a few thousand dollars each time. This year I asked one of my credit card companies for an increase and they send me all these forms to provide a detail information on my investment accounts, properties, etc. Anyone experience this? What happened to just using the credit card report, I thought that's what that was for? It will take me a few days to put it together and I don't think it's worth my time for a few thousand bucks. I think I will move my business else where.

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Something new called  ATP "ABILITY TO PAY" part of "The Credit Card Act"

Google for  "Ability to  Pay" and you should find some good reading. or try the following readin for some reading.

http://www.google.com/url?sa=t&rct=j&q=&esrc=s&frm=1&source=web&cd=2&cad=rja&ved=0CDwQFjAB&url=http%3A%2F%2Fwww.nrf.com%2Fmodules.php%3Fname%3DDocuments%26op%3Dviewlive%26sp_id%3D3921&ei=r2M-UerGL4rSygHYzIGQAQ&usg=AFQjCNEXisB62RuXKBbhYqtKfS0PSxiHHw&sig2=-vHgh1ktkFj1Mvnqvl9cGQ&bvm=bv.43287494,d.aWc

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Thanks

Thanks icuhowie. This is helpful. I am still not going to provide the information. I don't want to divulge all my private financial information with my credit card company. They don't need to know it. I will just hope that they increase my credit line whenever they review it...if they do at all or find an alternative credit card.

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Here's some more information

http://money.msn.com/credit-rating/will-credit-scores-become-obsolete

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