Annual Income Question

[WallyxD]

I've had a job since mid August and I grossed XXXX amount (Part time worker). On credit card applications where it asks for estimated annual income, is it okay if I make the number proportionate to what I could make in a year. So say I made 5000 from mid august of last year to the end of the year. Could I do 5000* 2.6 (I think that's the number I'd use) and state that as my EAI.? 

[OhioCPA]

Yes, that is how annual income is calculated. I would use what you earned times 2.67.

[WallyxD]

That's what I did for my first two cards, I figured I'd still ask because I didn't know if I was in the wrong for doing so. Thank you.

[Mike360]

Read this article http://www.ehow.com/info_7748671_do-card-companies-verify-income.html

Your not supposed to do that. If the CC company ever asks you to verify income they will want to see W-2's and if it doesn't match your stated income they will most likely close your account.

[CribDuchess]

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@Mike360 wrote:

Read this article http://www.ehow.com/info_7748671_do-card-companies-verify-income.html

Your not supposed to do that. If the CC company ever asks you to verify income they will want to see W-2's and if it doesn't match your stated income they will most likely close your account.

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The OP would not be lying.  He is making a good faith estimate of his income based on almost 5 months of income at that job.  It's not much different than someone graduating college in May and starting a job in June.  He/she would only have about 6 to 7 months of salary for that calendar year, but they can certainly calculate that income on an annual basis to use on a credit application.  Their first W-2 for that job would only show about half of their annual income, but there is nothing wrong with that.  I believe most lenders would be able to do the math as well.