SpiceIslander wrote:No...I don't! Here's how I see it: 1. (Personally) I think it's dishonest. 2. They can (though rarely) verify income. 3. If they think my true income doesn't support my current credit profile in addition to what I'm applying for, they'd be doing me a favor by denying credit. After all, they are trying to make money and denial would mean one less customer for them!
Agree. Income needs to fit the limit provided.
android01 wrote:It all depends really. I have an S-Corp where my reported income can vary wildly. In 2011 my reported 1040 income was $217,000. in 2010 it was $95,000. I take an annual salary of $50,000 (w-2) and rely on how well I conduct my business to determine if I keep any of my profits or reinvest them (depreciable assets) in my business. So my taxable incme varies greatly. 2012 is going to be close to $400,000, which unless I buy depreciable equipment, and if I don't, is going to cost me a tax bill that I can't by any means afford to pay. I am a perfect example of how success is penalized in this country.
So what figure do I use for applying for credit cards? $100,000. I'm going to need to apply for a few more just to pay the tax bill this year. How bad does it suck to borrow money to pay your tax bill after kicking butt all year to better myself? I don't want this to turn into a political discussion - please. Let's just say that I am very wary of this econimic cliff that's going to happen at the beginning of the year.
Android... you've had a few cocktails and just went on a bender and applied for a Barclay ring card... you should rest that head of yours on a pillow and say goodnight.. That'll Do my friend.. That'll do.. Hahaha.. JK... But in all seriousness i hear what you're saying... You just have to keep on keep'n on if you know what i mean!
Tommy5746 wrote:
Rhaeny wrote:No lies for me. I state exactly what my income is and not a penny more or less. I don't want to get caught up in any mess.
In your tag you have "The Avenue $150 (Shopping cart trick)" Do you really have a CC with a 150 limit? Thats crazy... What bank owns the card?
Well Tommy, that is from WFNNB and so is the Victoria's Secret, Catherines and Woman Within. Isn't that such a piddly amount huh? Not much a woman can do with $150 bucks! But.....you see I was just discharged from bk so that's why it is so low. I figure it will increase over time, besides I was able to re-establish my credit very quickly....like in the last month 
.
The Credit One Visa and The Avenue card I got in May and June. All of the rest were opened this month and I hope I haven't done myself in with any AA. I am laying really low for awhile now.
Rhaeny wrote:
Tommy5746 wrote:
Rhaeny wrote:No lies for me. I state exactly what my income is and not a penny more or less. I don't want to get caught up in any mess.
In your tag you have "The Avenue $150 (Shopping cart trick)" Do you really have a CC with a 150 limit? Thats crazy... What bank owns the card?
Well Tommy, that is from WFNNB and so is the Victoria's Secret, Catherines and Woman Within. Isn't that such a piddly amount huh? Not much a woman can do with $150 bucks! But.....you see I was just discharged from bk so that's why it is so low. I figure it will increase over time, besides I was able to re-establish my credit very quickly....like in the last month
The Credit One Visa and The Avenue card I got in May and June. All of the rest were opened this month and I hope I haven't done myself in with any AA. I am laying really low for awhile now.
Thats awesome that you're re-establishing your credit and on the right track!! Good for you!! I hope things only get better Best of Luck! Hopefully sometime soon that 150 will turn inoq 1,150 
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.
>> About myFICO
