Applied for Costco - They said No but might review if I sent 2 tax returns

[steve1040]

I applied for a Costco Card no PG by fax

When I called to check status they said it was declined but would reconsider if I faxed over 2 years of tax returns from my business.

 

Question1. Should I send them the return

 

Question2. I use turbotax Home and Business to file my returns so my personal return is included in the return.

 

Will the schedule c work and should I cross out my SSN?

[greywolf]

Just send them sch. C, and black out your SSN. Did you find out why they want more info?

Edited February 5, 2010 by greywolf

[clintbeastwood]

I applied for a Costco Card no PG by fax

When I called to check status they said it was declined but would reconsider if I faxed over 2 years of tax returns from my business.

 

Question1. Should I send them the return

 

Question2. I use turbotax Home and Business to file my returns so my personal return is included in the return.

 

Will the schedule c work and should I cross out my SSN?

 

 

what are you biz files like? What is your legal structure? And how long have you been in business for?

[steve1040]

what are you biz files like? What is your legal structure? And how long have you been in business for?

Been in business since 2002 but changed structure to LLC in 2009

Paydex = 75

4 TL in file Highest limit = 2500

[BRBiz]

what are you biz files like? What is your legal structure? And how long have you been in business for?

Been in business since 2002 but changed structure to LLC in 2009

Paydex = 75

4 TL in file Highest limit = 2500

 

 

LLC date is probably what is making them ask for that stuff, they rquire two years of being inc'd or a pg so they may give you a break if you have the tax returns. This is for the HSBC card correct?

[greywolf]

what are you biz files like? What is your legal structure? And how long have you been in business for?

Been in business since 2002 but changed structure to LLC in 2009

Paydex = 75

4 TL in file Highest limit = 2500

The change of structure is too new for HSBC. The Costco card has stricter underwriting standards than Northern Tool. I would wait until you have been in business 1 year, and a few months before applying. That way you can say you have been in business for two years, and will hopefully have a stronger file by then.

 

You can try sending them tax returns, it might work, so keep us updated

[BRBiz]

what are you biz files like? What is your legal structure? And how long have you been in business for?

Been in business since 2002 but changed structure to LLC in 2009

Paydex = 75

4 TL in file Highest limit = 2500

The change of structure is too new for HSBC. The Costco card has stricter underwriting standards than Northern Tool. I would wait until you have been in business 1 year, and a few months before applying. That way you can say you have been in business for two years, and will hopefully have a stronger file by then.

 

You can try sending them tax returns, it might work, so keep us updated

 

They look up the Inc date with the SOS and that is what they go by for start date and they want 2 + years for a no PG