Citi Forward College & Income & Authorized User

[Anonymous]

I've looked around but haven't really seen anything about the Citi Forward for college students card. I'm interested in applying around April/May but am unsure if I should. Currently I receive $19k annually in scholarships and was wondering if that's what I would report as income or would it be the $4k in refunds I receive from the school? Essentially I only get to "touch" $4k of it. I don't work but am interested in building credit and the 4k a year is more than enough to keep me busy. I've read around a bit but there isn't really a definite answer.

Current score (CK): TR - 654, Vantage - 710.

Credit Cards:

AU on Amazon Chase - $2k

AU on Target - $600

CapOne - $750

Paypal - $400

Current utilization is 50% but is going to drop to 6% at the end of the month.

No derogatory marks and 100% on-time.

Avg. age is 8 months, oldest being 1yr 3 months.

If needed my mom doesn't have a problem allowing me to piggyback on her credit (I'm currently AU on two). She has a 21 y/o account with JCP and 100% on-time payments but the CL is only $124. How much would this increase my score/chances of getting the card? CK has the score simulator but it isn't much help because the on-time payments only go up to 24 months. 

Thank for any help!

-J

[Anonymous]

I'm not sure if there is a standard response for this but I always put down the amount of my refunds (i.e. the amount that I get for living expenses). I guess technically you could count tuition+fees but to me that's cheating a bit since you don't actually see any of that money. I have never had a problem with any bank questioning the refunds, even when I call in for a CLI and they ask for source of income. Better to be conservative than to risk AA in my opinion.

[espnjunkie]

I would not count the full 19k as your income because you don't really have access to that amount. While building credit is important, you already have a few cards you can use right now. Only look for additional credit if you really need it. Until you are working and have a true income I would not recommend applying for more than you need. Being an AU will help build your credit until you graduate and get a full time job. I would stand pat.