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Established Member
Posts: 12
Registered: ‎03-09-2011
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Amex income on application.

I recently was approved for the Costco TE Amex with a 3k limit. On the income portion I listed a number that my employer gives me as an annualized income (expected commission of what has already been earned and salary). Although I'm worried that's not what they want as it includes commission that I will earn this year plus what I have earned for first half of 2013 (38 vs 34k). I honestly put this in as what I though it should be although after reading these boards I am little concerned. Is this something I should be worried about?

 

Thanks .

New Contributor
Posts: 351
Registered: ‎06-02-2013
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Re: Amex income on application.

They do not expect people to know the exact dollar amount of what you will earn this year. As long as it is a reasonable estimate which it sounds like in your case you are okay. There are always factors which will change the majority of people's income in a single year. Also since you have the documention to back it up you are perfectly fine.

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Established Contributor
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Registered: ‎05-11-2007
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Re: Amex income on application.

Nothing to worry about. They usually do not check these things unless there is some other concern that would prompt them to check into you. You gave the the numbers that you get from work, so in my mind anyway you listed your honest income. I am retired now, since 2005, but when i was working well over half my income was commissions, and as you know, that always leaves a best guess for future income.
Valued Contributor
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Registered: ‎02-06-2013
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Re: Amex income on application.

    How easy is a Costco amex to get and how much does it cost?

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Posts: 10,036
Registered: ‎04-22-2013
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Re: Amex income on application.


Chris123nTx wrote:
Nothing to worry about. They usually do not check these things unless there is some other concern that would prompt them to check into you. You gave the the numbers that you get from work, so in my mind anyway you listed your honest income. I am retired now, since 2005, but when i was working well over half my income was commissions, and as you know, that always leaves a best guess for future income.

And also, despite the impression you get from forums like these, Amex Financial Reviews are very rare, the vast majority of card holders don't know what they are and never have them.   With "normal" use (e.g. not spending each month 10x your annual income) it is extremely unlikely that your account will be flagged, and, as others have said, your stated income is close enough anyway.

Contributor
Posts: 116
Registered: ‎06-08-2013
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Re: Amex income on application.

You are fine.  You did not put and extra 1 in the front or 0 in the back!  One reason they love Mortgages on the CR is they know you have been through the underwriter review verifying income to qualify for it. (For a recent mortgage anyway.) They can take a good stab at your minimum income based on the required mortgage payment.



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Posts: 1,072
Registered: ‎02-06-2013
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Re: Amex income on application.


gstq34 wrote:

You are fine.  You did not put and extra 1 in the front or 0 in the back!  One reason they love Mortgages on the CR is they know you have been through the underwriter review verifying income to qualify for it. (For a recent mortgage anyway.) They can take a good stab at your minimum income based on the required mortgage payment.


+1 excellent point

390/14001100/13001500/15001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632.. If youlike this could you please give me a kudo by clicking that blue button over to the left? Thanks.Link to my Rebuild Log
Established Member
Posts: 12
Registered: ‎03-09-2011
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Re: Amex income on application.

Great, thanks for the information. About $400.00/4k of that is earned and projected overtime although I would imagine my income would be higher that that at the end of the year. Thanks again. 

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