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New Contributor
GatorGuy
Posts: 351
Registered: ‎06-02-2013
0

Re: How much CLI?


b1gr3dmachin3 wrote:

enharu wrote:
It's best to assume everything to be personal income until they specifically ask for household income.

That's what I figured. Do they actually check? For example if I make 12k and I put 15 or 20k would that matter? The problem for me is, Most of the money I make is all cash so there isn't really a way for me to show how much I make at this time...


I say ask for $4k and accept whatever they offer you. No they won't verify your income unless your spending really seems to be out of proportion to your income but that is very rare.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
Starting Score: 777
Current Score:  761
Goal Score:      800
Super Contributor
enharu
Posts: 7,132
Registered: ‎02-27-2013
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Re: How much CLI?

Lying about your income is considered as fraudulent misrepresentation. You should search around to look at what you are getting yourself into, and its a lot more serious than it may seem. It's best to not do it entirely. Besides, writing 12, 15, or even 30k income isn't going to have that big of an effect. Your CL is at best going to be a few hundred bucks higher, but the risk is definitely not worth it.

If required, you would prove your income on your taxes. And your taxes is based on your own bookkeeping or your CPA.
JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).
New Contributor
b1gr3dmachin3
Posts: 192
Registered: ‎07-08-2013
0

Re: How much CLI?

Okay thanks guys for the advice. Wow ask for 4k from 700? that's a big jump! Would be awesome if they approved it though lol

BoA 123 $2.5k (11/12) // Discover It $3.1k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex PRG NPSL (12/13)

Starting Score: No Credit History (11/12)
Current Score: Discover Fico 768 (7/13) Discover Fico 701(11/13) Chase Fico 737 (12/13)
Goal Score: 750+


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OptimalCS
Posts: 405
Registered: ‎07-31-2010
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Re: How much CLI?

Ask and it shall be given!

I recently requested a CLI from Home Depot.

I wanted a large limit bc I hate having to worry about util being under 10%.

I asked for 8k and ended up being approved for 8.8k up from $1,500.

CARDS.jpg

New Contributor
b1gr3dmachin3
Posts: 192
Registered: ‎07-08-2013
0

Re: How much CLI?


OptimalCS wrote:
Ask and it shall be given!

I recently requested a CLI from Home Depot.

I wanted a large limit bc I hate having to worry about util being under 10%.

I asked for 8k and ended up being approved for 8.8k up from $1,500.

Wow, that's a huge increase lol gives me hope :smileyhappy:

BoA 123 $2.5k (11/12) // Discover It $3.1k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex PRG NPSL (12/13)

Starting Score: No Credit History (11/12)
Current Score: Discover Fico 768 (7/13) Discover Fico 701(11/13) Chase Fico 737 (12/13)
Goal Score: 750+


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New Contributor
GatorGuy
Posts: 351
Registered: ‎06-02-2013
0

Re: How much CLI?


b1gr3dmachin3 wrote:

Okay thanks guys for the advice. Wow ask for 4k from 700? that's a big jump! Would be awesome if they approved it though lol


I have definitely heard of crazier things happening.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
Starting Score: 777
Current Score:  761
Goal Score:      800
Valued Contributor
takeshi74
Posts: 3,209
Registered: ‎06-05-2013
0

Re: How much CLI?

[ Edited ]

b1gr3dmachin3 wrote:

Do they actually check?


They can.  It isn't common but it does happen. 

 


b1gr3dmachin3 wrote:

For example if I make 12k and I put 15 or 20k would that matter?


It will matter if they ask you to verify.

 


b1gr3dmachin3 wrote:

The problem for me is, Most of the money I make is all cash so there isn't really a way for me to show how much I make at this time...

That's the double-edged sword with cash income.  Do you not deposit the cash?  Do you not have regular deposit records?

New Contributor
b1gr3dmachin3
Posts: 192
Registered: ‎07-08-2013
0

Re: How much CLI?


takeshi74 wrote:

b1gr3dmachin3 wrote:

Do they actually check?


They can.  It isn't common but it does happen. 

 


b1gr3dmachin3 wrote:

For example if I make 12k and I put 15 or 20k would that matter?


It will matter if they ask you to verify.

 


b1gr3dmachin3 wrote:

The problem for me is, Most of the money I make is all cash so there isn't really a way for me to show how much I make at this time...

That's the double-edged sword with cash income.  Do you not deposit the cash?  Do you not have regular deposit records?



I deposit some of the cash in my bank. I'm not super worried about it because when I applied for the card I have now they didn't ask an questions so why should these guys? My main concern was whether to put my personal income or the income of both my wife and I.

BoA 123 $2.5k (11/12) // Discover It $3.1k (7/13) // Citi Forward Student $3.8k (7/13) // Chase Freedom 5k (12/13) // Amex PRG NPSL (12/13)

Starting Score: No Credit History (11/12)
Current Score: Discover Fico 768 (7/13) Discover Fico 701(11/13) Chase Fico 737 (12/13)
Goal Score: 750+


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Valued Member
liandur
Posts: 46
Registered: ‎08-27-2012
0

Re: How much CLI?


b1gr3dmachin3 wrote:

takeshi74 wrote:

b1gr3dmachin3 wrote:

Do they actually check?


They can.  It isn't common but it does happen. 

 


b1gr3dmachin3 wrote:

For example if I make 12k and I put 15 or 20k would that matter?


It will matter if they ask you to verify.

 


b1gr3dmachin3 wrote:

The problem for me is, Most of the money I make is all cash so there isn't really a way for me to show how much I make at this time...

That's the double-edged sword with cash income.  Do you not deposit the cash?  Do you not have regular deposit records?



I deposit some of the cash in my bank. I'm not super worried about it because when I applied for the card I have now they didn't ask an questions so why should these guys? My main concern was whether to put my personal income or the income of both my wife and I.


Just activated my BOA cash rewards today--they had initially set a $1500 cl. I asked for a cli when activating- they pulled TU (haven't seen it yet but I could tell by talking with the senior credit anylyst they had me speak with and what she mentioned about my AAOA-my TU is alot longer than EX or EQ). I work in restaurant---my W-2 documented yearly income is about $13,000 - LOL -low, low, low!!! I have to file a form 4137 to claim my additional income when filing taxes (yes, on loans I pretty much so have self employed status because the majority of my income is cash) which brings me up to around $31,000 (still low but -hey- not all of us make 6 figures!) Not sure if this is reassuring to you but they did not ask for income verification--but mine does match what is on my original application and could be supported with bank statements and prior years returns. They granted the CLI to $5700 to match my Discover. It is important to me to keep my utilization low and I told them this. Their customer service was great and you do get a chance to actually speak with a credit anylyst when the decision is being made--I put the request in with a regular CS rep and was given a number to call within 24 hours to speak with them and receive answer. There were no further questions asked other than those asked when request was put in w/ general CS. I don't recall whether or not they inluded HHI as part of their longggggggg list of income that would qualify but it was an open ended list and they did not exclude it.GL


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