Annual Household Income

[Anonymous]

Thanks, i will make sure in the future that we can co-apply otherwise we will decline the offer

[Anonymous]

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@Anonymous wrote:

Thanks, i will make sure in the future that we can co-apply otherwise we will decline the offer

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If you apply as an individual, but the app asks for household income, you can still put your income+DW/DH income.  

[KingAdrock]

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@Anonymous wrote:

well i emailed HD credit customer service so i should get something in writing soon.  If the person at HD misled us, then i will pay the small balance off and cancel the card

Could there be legal issues if i leave the card and they ask for info and find out hers is lower?

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To lie on a credit application is a crime, but actual criminal proceedings over it are pretty rare.

I say just be honest about the mistake. Income is more of a factor for determining CLs than getting approved. If they do anything, it'll likely just be a CLD.

[Anonymous]

Oh man, I don't remember the last time I've seen HHI on ANY application. The card act must have really prompted all creditors to change that ASAP.

If it ever becomes an issue, just tell them it was an honest mistake. Chances are, though, it'll never become an issue.

Now, if it was with a company like Amex, yeah, you'd want to notify them immediately. But for a HD card, I just don't expect them to ever ask for financial proof.

[Anonymous]

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@Anonymous wrote:

You're making something out of nothing.  It asked for household income, and both of your incomes are included in that.  Don't worry about it.  The only way there will ever be any kind of investigation is if you run up some huge balance and never pay them..  And even then, they'll just CO the account and give you a big fat negative on your CR.

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+1. It's not that big of a deal, in my opinion. I always give a low-ball rounded estimate for my income on applications, but I've never had any creditor ask me anything about my income.

[CS800]

You should just run with it for now. You were given wrong advice. It was not your fault to start with. If you are ever questioned, you can tell them what you were told.

[Anonymous]

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@CS800 wrote:

You should just run with it for now. You were given wrong advice. It was not your fault to start with. If you are ever questioned, you can tell them what you were told.

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So... would grants (i.e. left over money from school tuition and expenses) count as being part of your income? 

[dharalex]

I just applied for an amex yesterday, and household income was requested. But this time, they qualified it. They said to use ALL sources including retirement, investments, rental properties. The first amt was then followed by a confirmation of the primary source. Then they asked for the total hh amount altogether. So OP, in my eyes, you did nothing wrong. Household income is defined monies from all sources you would like considered. If they want only your income, that's what they will ask for.