Chase Asking Some Credit Card Applicants for Income Verification
If you apply Chase credit card, there’s a chance that you will need to go through an income verification process. Income information is always required when applying for a new credit card, but it is usually just a question during the application. Recently, some applicants have been asked for additional documents.
One case was reported on r/CreditCards during a CFU application and Doctor of Credit also wrote today that some readers have reported the same thing. Chase has asked for pay stubs or W-2 forms for income verification, or in some cases just a verbal confirmation of the amount entered during the application.
It is probably just a small fraction of applicants that are being asked to provide extra proof, and there could be different reasons for it. But with several reports coming in recent days, it might have something to do with the pandemic and Chase trying to limit its exposure. The bank also has been lowering credit limits for new and existing cardmembers in recent months.
Let me know if you have been asked to provide extra information during applications for Chase credit cards.