Reply
Established Member
Motosurf
Posts: 12
Registered: ‎03-09-2011
0

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
GatorGuy
Posts: 351
Registered: ‎06-02-2013
0

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.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
Starting Score: 777
Current Score:  761
Goal Score:      800
Established Contributor
Chris123nTx
Posts: 500
Registered: ‎05-11-2007
0

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
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
0

Re: Amex income on application.

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

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Super Contributor
longtimelurker
Posts: 8,056
Registered: ‎04-22-2013
0

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
gstq34
Posts: 116
Registered: ‎06-08-2013
0

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.



Starting Score: 573
Current Score: 764 EX (FAKO)
Goal Score: 760 all 3


Take the myFICO Fitness Challenge
Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
0

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

0/10001100/13001346/16001699/2000Prepaid ,,Recent scores:FICO EX 632,EQ 635,TU 632...Link to my Rebuild Log
Established Member
Motosurf
Posts: 12
Registered: ‎03-09-2011
0

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. 


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}