Reply
Established Member
Posts: 17
Registered: ‎08-25-2012
0

Re: Do YOU exaggerate your income when applying?

Yes, I do exaggerate.  I assume that I will continue to be employed at my current salary.


Starting Score: 608 (7/29/12 TU), 615 (7/29/12 EQ), EX ???
Current Score: 690 (12/29/12 TU), 650 (12/16/12 EQ)
Goal Score: 700+ by 7/2014


Take the FICO Fitness Challenge
Regular Contributor
Posts: 440
Registered: ‎02-08-2012
0

Re: Do YOU exaggerate your income when applying?


Isanham wrote:

Yes, I do exaggerate.  I assume that I will continue to be employed at my current salary.


:smileyvery-happy::smileylol:

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy:
Frequent Contributor
Posts: 358
Registered: ‎06-25-2012
0

Re: Do YOU exaggerate your income when applying?


Tommy5746 wrote:

we ALL know you shouldnt lie on your app.. but, if somebody said they make 32k but they really make 30k... im going to bet the farm that the WORST thing that happens is the CCC closes the card.. and possibly even blacklists them... I dont see that as a top tier case for the feds lol... And i hiiighly doubt the CCC would even report it...


Fraud is fraud. According to Title 18 of the U.S. Code, Section 1014, the maximium penalty is $1,000,000 or 30 years in prison.

Regular Contributor
Posts: 440
Registered: ‎02-08-2012
0

Re: Do YOU exaggerate your income when applying?


SwampSystems wrote:

Tommy5746 wrote:

we ALL know you shouldnt lie on your app.. but, if somebody said they make 32k but they really make 30k... im going to bet the farm that the WORST thing that happens is the CCC closes the card.. and possibly even blacklists them... I dont see that as a top tier case for the feds lol... And i hiiighly doubt the CCC would even report it...


Fraud is fraud. According to Title 18 of the U.S. Code, Section 1014, the maximium penalty is $1,000,000 or 30 years in prison.


I dont deny that lying on an application is against the law, and wrong.. but you give me just one.. one single case where somebody fudged there income by 1k or 2k and they got jail time...Fudging your income by 10, 20 or even 30k or more is warrant for legal investigation..BUT  You wont find one for somebody exaggerating by 1 or 2k.. Its like speeding in a car.. should you speed? No.. is it stupid? yes.. Do people ever get jail time for going 5 miles over the speed limit? absolutely not.. Thats ridiculous...

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy:
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Do YOU exaggerate your income when applying?


Tommy5746 wrote:

SwampSystems wrote:

Tommy5746 wrote:

we ALL know you shouldnt lie on your app.. but, if somebody said they make 32k but they really make 30k... im going to bet the farm that the WORST thing that happens is the CCC closes the card.. and possibly even blacklists them... I dont see that as a top tier case for the feds lol... And i hiiighly doubt the CCC would even report it...


Fraud is fraud. According to Title 18 of the U.S. Code, Section 1014, the maximium penalty is $1,000,000 or 30 years in prison.


I dont deny that lying on an application is against the law, and wrong.. but you give me just one.. one single case where somebody fudged there income by 1k or 2k and they got jail time...Fudging your income by 10, 20 or even 30k or more is warrant for legal investigation..BUT  You wont find one for somebody exaggerating by 1 or 2k.. Its like speeding in a car.. should you speed? No.. is it stupid? yes.. Do people ever get jail time for going 5 miles over the speed limit? absolutely not.. Thats ridiculous...


Mature folks don't take that risk... They don't speed, even 5 miles over the speed limit... and they don't lie on applications, even by 1-2k. 

 

This reminds me of a quote from the movie Lonesome Dove:

 

 
Gus McCrae: [Call is about to hang Jake] You know how it goes, Jake. You ride with an outlaw, you die with an outlaw. Sorry you crossed the line.
Jake Spoon: I never seen no line, Gus. I was just trying to get through the territory without gettin' scalped.
Gus McCrae: I don't doubt that's true, Jake.
 
If you cross the line on little things,  sooner or later, you lose the ability to even see the line.  :smileysad:

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?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Regular Contributor
Posts: 440
Registered: ‎02-08-2012
0

Re: Do YOU exaggerate your income when applying?


webhopper wrote:

Tommy5746 wrote:

SwampSystems wrote:

Tommy5746 wrote:

we ALL know you shouldnt lie on your app.. but, if somebody said they make 32k but they really make 30k... im going to bet the farm that the WORST thing that happens is the CCC closes the card.. and possibly even blacklists them... I dont see that as a top tier case for the feds lol... And i hiiighly doubt the CCC would even report it...


Fraud is fraud. According to Title 18 of the U.S. Code, Section 1014, the maximium penalty is $1,000,000 or 30 years in prison.


I dont deny that lying on an application is against the law, and wrong.. but you give me just one.. one single case where somebody fudged there income by 1k or 2k and they got jail time...Fudging your income by 10, 20 or even 30k or more is warrant for legal investigation..BUT  You wont find one for somebody exaggerating by 1 or 2k.. Its like speeding in a car.. should you speed? No.. is it stupid? yes.. Do people ever get jail time for going 5 miles over the speed limit? absolutely not.. Thats ridiculous...


Mature folks don't take that risk... They don't speed, even 5 miles over the speed limit... and they don't lie on applications, even by 1-2k. 

 

This reminds me of a quote from the movie Lonesome Dove:

 

 
Gus McCrae: [Call is about to hang Jake] You know how it goes, Jake. You ride with an outlaw, you die with an outlaw. Sorry you crossed the line.
Jake Spoon: I never seen no line, Gus. I was just trying to get through the territory without gettin' scalped.
Gus McCrae: I don't doubt that's true, Jake.
 
If you cross the line on little things,  sooner or later, you lose the ability to even see the line.  :smileysad:

True.. you have a point.. going 5 miles over the speed limit is a gateway into serious fraud... first 5mph over the speed limit.. then next thing you know your faking your tax returns and putting down 50k on an app when you really only make 15k...

lol im obviously jk webhopper.. But in all seriousness.. some of you guys are taking this to the extreme.. the bottom line is yes, we all know its wrong and illegal to lie on an application for credit.. or for anything for that matter.. But the point is that some people do slightly inflate what they make on an app.. Do i think thats ok to do? No.. but this thread was started to see who has done it and if they do how much do they inflate it by? and why? If i was in a car with somebody and the speed limit was 55 and they were going 60.. i would not take their maturity into account... we have all made mistakes.. we have all done things that we look back on and go "wow, that was dumb!" but this forum is also to help us see the thigs we've done wrong financially.. and help right them..

Goal: 700 and an Amex Card!

Chicks Dig Guys With Good Credit :smileyhappy:
Valued Contributor
Posts: 1,182
Registered: ‎07-18-2009
0

Re: Do YOU exaggerate your income when applying?

[ Edited ]

There definitely is an issue of degree here.

Most people wouldn't think twice about driving 2mph over the limit but would be considerably less tolerant at 20mph over. Both are illegal.

 

Even when applying for jobs requiring compartmentalized, top secret clearance, you are more likely to fail a polygraph screen if you are squeaky clean since the principal technique is to calibrate the instrument based on your emotional response to a question an examiner has led you to believe is a prime indicator of moral turpitude. For instance take these two questions. (This is somewhat of a simplification, is not a recipe to fake a poly, and DOD polygraphers are well aware spys know the basics of polygraph).

 

Polys are preceded by a conditioning interview.

Polys list all the questions they are going to ask in advance then administer the test.

Assuming this leads, at this time, to short lecture about how many cheaters go on to commit fraud or sell secrets it may well contain the following questions.

 

1. Have you ever cheated in school?

2. Have you ever transferred classified materials to an unauthorized party?

 

The assumption is that virtually everyone has done #1 in some form or fashion. A person that would never compromise security but my well have cheated in school is more likely to focus on #1, answer "no" and react to it more strongly than to #2.  These people pass. OTOH, a compromised person would be more likely to react on question #2, and fail, because it is more material. But here's the catch. There are not an inconsiderable number of people that never cheated in school and are completely comfortable saying no to #1.  They also know that question #2 is a more significant question and are often more nervous and reactive on it because the consequences of being accused of spying are more severe even while totally innocent. They fail, at least on that sequence. So those with squeaky clean lives (not many of us I'm afraid) are more likely to fail a DoD poly.

 

We are all sinners but we strive not to be and to correct ourselves when we have strayed. Personally, my criteria is to ask myself, when my concience brings something to my attention, how would I feel discussing this with my spouse or parents?  Usually the answer is obvious.

 

 


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Moderator Emeritus
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Do YOU exaggerate your income when applying?


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?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Valued Contributor
Posts: 1,182
Registered: ‎07-18-2009
0

Re: Do YOU exaggerate your income when applying?

Lol.

 

NPR had an excellent review of a guy that was convicted of bank fraud. He worked his way up from small lies to bigger ones eventually resulting in defrauding others of millions. What's interesting isn't so much the fraudster, but the large number of enablers around him including many that agreed to help him without any personal benefit. While that seems unlikely, there are good psychological reasons why these things happen.

 

http://www.npr.org/blogs/money/2012/04/17/150815268/why-people-do-bad-things

 

Lessons for all of us.


I have reestablished credit over the last couple years
so my moniker is, well, rather out of date.

WM Discover $1800, WF Plat 12k, Chase Freedom Siggy18k, Amex Plat (60k H/B), Citi AA EWMC 25k
Frequent Contributor
Posts: 258
Registered: ‎06-10-2012
0

Re: Do YOU exaggerate your income when applying?

That reminds me of a story my Securities Regulation prof told.

We were talking about insider trading, and some of the little, seemingly undetectable ways people commit insider trading. One of my classmates asked the prof "How do they get caught?" My prof sighed and said "Every year someone in this class asks that question. And when I look in the Wall Street Journal and read about one of my former students going to jail for insider trading, it's always the ones who sat where you are now and asked that same question. You will get caught, and you will go to jail Don't worry about how. Just don't do it."

Starting Score: 617 (EQ 6/10/12)
Current Score (8/28/13): EQ: 691 EX: 706 TU: 700
Goal Score: 700

Discover it $4,500 (02/2001); Amex PRG (Backdated to 01/2006); Amex ZYNC (Backdated to 07/2006); Wells Fargo Cash Back Visa $5,500 (12/2011); Citi Diamond Preferred MC $2,000 (07/2012); B of A Cash Rewards Visa Signature $5,000 (02/2013)

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.