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Do YOU exaggerate your income when applying?

Regular Contributor

Do YOU exaggerate your income when applying?

I think we have all done it.. at least a little bit... You know when your applying for that credit card you reallllly want.. and you want everything positive possible on your side.. Soy uo slightly exaggerate your income.. Lets say you make 30k a year.. maybe you put down 33k? How many of you guys have done this before?? How much do you add on? I dont think its that wrong! Just as long as you dont go crazy saying you make 90k a year when you only gross 20k Smiley Happy

Goal: 700 and an Amex Card!

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Message 1 of 118
117 REPLIES
Mega Contributor

Re: Do YOU exaggerate your income when applying?


Tommy5746 wrote:

I think we have all done it.. at least a little bit... You know when your applying for that credit card you reallllly want.. and you want everything positive possible on your side.. Soy uo slightly exaggerate your income.. Lets say you make 30k a year.. maybe you put down 33k? How many of you guys have done this before?? How much do you add on? I dont think its that wrong! Just as long as you dont go crazy saying you make 90k a year when you only gross 20k Smiley Happy


Not at all. Your only opening a can of worms if the creditor decides to call your bluff. Especially AMEX with their FR's.

 




EQ FICO 548 3/3/16
Message 2 of 118
Regular Contributor

Re: Do YOU exaggerate your income when applying?


LS2982 wrote:

Tommy5746 wrote:

I think we have all done it.. at least a little bit... You know when your applying for that credit card you reallllly want.. and you want everything positive possible on your side.. Soy uo slightly exaggerate your income.. Lets say you make 30k a year.. maybe you put down 33k? How many of you guys have done this before?? How much do you add on? I dont think its that wrong! Just as long as you dont go crazy saying you make 90k a year when you only gross 20k Smiley Happy


Not at all. Your only opening a can of worms if the creditor decides to call your bluff. Especially AMEX with their FR's.

 


True... I agree.. BUT.. do you really think they will take action if you say you make 32 but only make 30? Hmm.. Maybe they would.. I def wouldnt exaggerate with AMEX, Discover or Citi.. But your right.. if you lie, then dont kick and scream if they call you out!

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit Smiley Happy
Message 3 of 118
Moderator Emeritus

Re: Do YOU exaggerate your income when applying?

Ya I don't do it. I tell them my gross annual income; no reason to exaggerate.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
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Message 4 of 118
Mega Contributor

Re: Do YOU exaggerate your income when applying?


Tommy5746 wrote:

LS2982 wrote:

Tommy5746 wrote:

I think we have all done it.. at least a little bit... You know when your applying for that credit card you reallllly want.. and you want everything positive possible on your side.. Soy uo slightly exaggerate your income.. Lets say you make 30k a year.. maybe you put down 33k? How many of you guys have done this before?? How much do you add on? I dont think its that wrong! Just as long as you dont go crazy saying you make 90k a year when you only gross 20k Smiley Happy


Not at all. Your only opening a can of worms if the creditor decides to call your bluff. Especially AMEX with their FR's.

 


True... I agree.. BUT.. do you really think they will take action if you say you make 32 but only make 30? Hmm.. Maybe they would.. I def wouldnt exaggerate with AMEX, Discover or Citi.. But your right.. if you lie, then dont kick and scream if they call you out!


AMEX will straight up close your account if you lie on tax returns. If you don't submit to their FR, they will close your account.

 

As far as the topic at hand, AMEX would be the only one I would be weary of fibbing to. As a moral standard, you should always be honest about your income.

 




EQ FICO 548 3/3/16
Message 5 of 118
Valued Contributor

Re: Do YOU exaggerate your income when applying?

Lieing on your AP to get credit is the quickest way to end up with no credit. 10% difference in income isn't going to get you any better really its not going to be the difference between a 1k limit and 2k limit perhaps at most its  the difference between  1k limit and $1200 limit, not worth the worry. 

 

 

Cards: Chase Southwest 20k & CSR 10k & CSP 10k & Freedom 6.6k & Amtrak/Freedom 4.6k, FNBO DISC 25.1k Oregon Duck 5k, & AMEX BCP 15k & Hilton Surpass 7.5k & Delta Gold 6k & Zync NPSL, Fidelity AMEX 17k Commerce5.9k & Cash Forward 7.5k & Sams Club MC 10k, Paypal Extras MC 7.5k, CapOne Venture 15k, QS 2.5k, QS 750, Amazon 5.9k, Walmart 10k, Citi Simplicity 9k, Discover IT 16k and a nice stack of store cards.
Last APP/HP 5/15/2017 Marcus Loan. 30k
Message 6 of 118
Frequent Contributor

Re: Do YOU exaggerate your income when applying?

 

Regular salary, I agree with LS...

 

But if you're commission or something like that, I don't see an issue with putting down a number that's still within reason and historical earnings, but leans on the more positive side than the lowest "if I only collect my draw and no commission for the rest of the year" number.

 

Exaggeration for pure exaggeration is fraud. Sure it's not like the police are going to hunt you down, but a creditor doing a review would be likely to close your account just for that -- when a review where you didn't lie might result in nothing or perhaps just a small CLD.

 

If you have a regular salary, stick to that number, it just makes life so much easier. 

 

and 30 vs 32 won't make a difference on your application result.

 

Message 7 of 118
Valued Contributor

Re: Do YOU exaggerate your income when applying?

I make decent money.  I don't need to exaggerate anything to get credit.

EX:694 TU:744 EQ:777
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Message 8 of 118
Super Contributor

Re: Do YOU exaggerate your income when applying?


DaveSignal wrote:

I make decent money.  I don't need to exaggerate anything to get credit.


I usually just add four or five zeroes to my income on applications. 

 

No Big Deal...

 

Smiley LOL

Message 9 of 118
Moderator Emeritus

Re: Do YOU exaggerate your income when applying?

DaveSignal is a baller Smiley Wink

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
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Message 10 of 118