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Regular Contributor
Posts: 440
Registered: ‎02-08-2012
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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

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Registered: ‎04-09-2011
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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.

 




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Regular Contributor
Posts: 440
Registered: ‎02-08-2012
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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!

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Posts: 7,225
Registered: ‎09-16-2011
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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.


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Posts: 15,442
Registered: ‎04-09-2011
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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.

 




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Valued Contributor
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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. 

 

 

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Registered: ‎10-04-2009
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Re: Do YOU exaggerate your income when applying?

[ Edited ]

 

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.

 

Valued Contributor
Posts: 2,111
Registered: ‎07-29-2011
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Re: Do YOU exaggerate your income when applying?

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

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Registered: ‎12-11-2011
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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

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Re: Do YOU exaggerate your income when applying?

DaveSignal is a baller Smiley Wink

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