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Established Contributor
NJTurnpike
Posts: 662
Registered: ‎02-20-2013
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Household Income Question

I was wondering if it would be appropriate to add my roommate's income as part of my overall household income. we share in all the expenses (rent, cable, internet, gas, electric, food, etc). We rent a rather large two bedroom house together. Been living together for a few months now.


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randeman
Posts: 272
Registered: ‎12-13-2012
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Re: Household Income Question

In my opinion, yes.  If they ask for household income they are asking for the household income.  Since your roommate is a part of your household, that counts.  If they ask for verification, just tell them the truth.  It's up to them how they use the information.

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RSCo
Posts: 472
Registered: ‎02-11-2013
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Re: Household Income Question


randeman wrote:

In my opinion, yes.  If they ask for household income they are asking for the household income.  Since your roommate is a part of your household, that counts.  If they ask for verification, just tell them the truth.  It's up to them how they use the information.


Agree.. There is a reason they want to know household income.. I'm in a M/M domestic partnership and I've included his when asked for household income and I've used only mine when they don't specifically ask for household income.. I also include all of my investments both retirement and non retirement when they make a point of asking for "income that could come from investments".  This is one of the issues that those in same gender relationships run into in defining the terms and repayment basis for debt..

 

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youngandcreditwrthy
Posts: 6,242
Registered: ‎08-16-2012
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Re: Household Income Question

I use hhi but many posters here believe that is "fraudulent" lol...

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ryanbush
Posts: 1,299
Registered: ‎08-19-2012
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Re: Household Income Question


youngandcreditwrthy wrote:
I use hhi but many posters here believe that is "fraudulent" lol...

*waiting for certain posters to start blasting*

I believe in the past people were giving you a hard time because you were stating that you listed your Moms income as yours, I'm guessing you don't live at home anymore so that would be hard to justify as HHI?

 

I really don't think anyone except AMEX would ever ask you to verify income so you really don't have anything to worry about. :smileywink:

 

 

OP:  What are you applying for that is asking for HHI?  Just curious as most of the CC apps I have ever seen (I haven't seen them all) Always ask for individual income. 

 

 

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thom02099
Posts: 1,326
Registered: ‎08-30-2011
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Re: Household Income Question

[ Edited ]

RSCo wrote:

randeman wrote:

In my opinion, yes.  If they ask for household income they are asking for the household income.  Since your roommate is a part of your household, that counts.  If they ask for verification, just tell them the truth.  It's up to them how they use the information.


Agree.. There is a reason they want to know household income.. I'm in a M/M domestic partnership and I've included his when asked for household income and I've used only mine when they don't specifically ask for household income.. I also include all of my investments both retirement and non retirement when they make a point of asking for "income that could come from investments".  This is one of the issues that those in same gender relationships run into in defining the terms and repayment basis for debt..

 


I am in the same situation, but I take a different approach.  I only report MY income on any account where my partner is not going to be subject to any financial commitment in repayment of any outstanding debts, regardless of whether they ask MY income or HHI.    Since all of my cards are in my name only and my partner is not an AU, I don't factor in his income.  If I were to do so, use total HHI, then logically, I could also include both my children who live at home with us, contribute to the bills for running a household, and my HHI would be double the $68K I've claimed on all my 2012 applications, based on 2011/12 tax figures. 

 

Which is right?  That's not for me to decide.  This is what is right for me and my financial rebuilding success.  The argument could also be made that one should include the value of all benefits that an employer may provide (in my case, a total of around $82K) but I cannot justify in my own mind doing that, since it is not cash readily available to pay the bills. 

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Moderator
09Lexie
Posts: 26,016
Registered: ‎09-13-2012
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Re: Household Income Question

A few years ago, I was making over $110k a year. Now that I am 'retired' - basically a stay - at-home Mom, I rely on my DH's income to pay our bills. When we go out to dinner he would pick up the check; what difference should it make if the cc was issued to me?  As always it depends on the situation but I think if you file joint tax returns then what's mine is yours and vice versa. 

 

If they ask for income and do not specify individual- I'm putting down 'our' income. 

Established Member
anonyman
Posts: 15
Registered: ‎01-31-2013
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Re: Household Income Question


NJTurnpike wrote:

I was wondering if it would be appropriate to add my roommate's income as part of my overall household income. we share in all the expenses (rent, cable, internet, gas, electric, food, etc). We rent a rather large two bedroom house together. Been living together for a few months now.


LOL,

Heheheheheeh,

 

Sorry, I couldn't stop laughing when I saw this.

 

What they're asking for IMO is your family's household income. Combination of spouse, children, something in those lines.

 

But technically, I would agree with the person who said yes.

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HiLine
Posts: 2,951
Registered: ‎10-19-2012
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Re: Household Income Question

My approach is to take the questions on the application literally. If they ask for household income, then I add the income of everyone in the household, roommate, mom and whatnot. There is nothing on the application, including the fine print, that says I'll have to provide supporting documents for other household members.

When they ask for my income, then I put my income.

That is the only way to guarantee I don't violate any rules.

 

 

Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
0

Re: Household Income Question


anonyman wrote:

NJTurnpike wrote:

I was wondering if it would be appropriate to add my roommate's income as part of my overall household income. we share in all the expenses (rent, cable, internet, gas, electric, food, etc). We rent a rather large two bedroom house together. Been living together for a few months now.


LOL,

Heheheheheeh,

 

Sorry, I couldn't stop laughing when I saw this.

 

What they're asking for IMO is your family's household income. Combination of spouse, children, something in those lines.

 

But technically, I would agree with the person who said yes.


The worst is when you have idiot adult kids who put their parents income down, even though it's not theirs nor do they have access too it.

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