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Contradiction?

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Anonymous
Not applicable
‎07-30-2012 08:24 PM
‎07-30-2012 08:24 PM

Contradiction?

Just wondering, Isn't it weird how on a credit card application, there is a choice of unemployed, yet still asks for income? Wouldn't any number besides zero be a red flag? How much does being unemployed vs having a high FICO score and perfect payment history factor into an approval/denial?

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drkaje
Senior Contributor
‎07-30-2012 08:26 PM
‎07-30-2012 08:26 PM

Re: Contradiction?

Could be a company that considers HHI.

Starting Score: 675
Current Score: EX 753 FICO, EQ 737FICO, TU 738
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SanjeevR
Regular Contributor
‎07-30-2012 08:35 PM
‎07-30-2012 08:35 PM

Re: Contradiction?

There are also those collecting pensions, disability, social security, alimony, real estate income, annuities, investments, etc...

Income can come in many forms other than employment.
Starting scores: Around 630 (Sep 2011)
Current FICO scores: TU ‘08 792 (Walmart) • EQ 765 • EX 771 (Amex)
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pizzadude
Credit Mentor
‎07-30-2012 08:37 PM
‎07-30-2012 08:37 PM

Re: Contradiction?

@Anonymous wrote:

Just wondering, Isn't it weird how on a credit card application, there is a choice of unemployed, yet still asks for income? Wouldn't any number besides zero be a red flag? How much does being unemployed vs having a high FICO score and perfect payment history factor into an approval/denial?

There are many situations where people may have income yet still could be unemployed.    Annunities, alimony, child support, SSI disability, etc....

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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OnTheRebound
Established Contributor
‎07-30-2012 09:38 PM
‎07-30-2012 09:38 PM

Re: Contradiction?

My wife is unemployed. Yet she has monthly income from four different sources.

Amex BCE $11.1 / Citi Diamond Preferred WMC $12K / Citi Double Cash WMC $3.8K / Comenity Total Rewards Visa $2.5K / Citi Home Depot $5K / AU- Amex BCP $12K / Chase Freedom Visa $11014.00 / PenFed Platinum Rewards Visa Signature $6K / GE Lowes $10K
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