I've achieved the Ritz Carlton sign up bonus in just under a month + how long for next CLI?

[Anonymous]

In todays world with improved technology, you will get found out by Chase.  Trust me, it is just a matter of time. If on the application you put [occupation] as student, then listed a high amount of income, proceeded to add two AUs, spending most of the limit given and paying immediately and then requesting a CLI will raise some eyebrows.

Unless you bank with Chase and have alot of money with them then they might overlook it in some sort of way.  But moving forward, try to tell the truth... Because in the end, it will probably end in tears and regret.

[Anonymous]

I consider this to be a question of character. I am not attacking the OP but saying as respectfully as possible that whether a person choose to lie about things says something about that person's character.

I also agree with the others that Chase will take action.

[dragontears]

OP as others have stated lying on an app is wrong and could get you in trouble with chase in the long run. and I question the wisdom of getting a card with such a high AF when you have so little income.

That aside, my question to you is with only 10.5k income why do you need a higher CL? even if you put every single penny you make in a month (10500/12 = 875) through the card the utilzation will only be 11.7%

[joltdude]

Theres also this amendment to the CARD act that might apply....

But this rule from the Consumer Financial Protection Bureau (CFPB) has amended the CARD Act.

The new rule says that banks can consider any “income or assets to which consumers have a reasonable expectation of access.”

Note that this change applies only to folks 21 years and older.

This may apply to the OP and/or cover his backside if the creditor calls him out on it..

Also using Annual Household Income is allowed by some creditors, and any retirement, IRA, 401k, etc are still assets....

A modest rounding of income is not blasphemy, esp if your income changes from year to year...it should be an average number and a reasonable expectation of what you make each year ..

That said. Do not think this card is a "good fit" for the OP...  though whats done is done, and id not be asking for any CLIs for at least a year or more...

Updating income would only cause a cascade of issues at this point.. but id defenitely try to stay under the radar...Sit tight, pay your bills generously or in full, and let it play out... 

I also suspect his parents even though they are only AU's technically, are paying for their transactions and spend so..... he has reasonable expectation of access to payment...

Also on the whole morals of the subject, the only slight moral quandry in credit is ARE YOU GOING TO PAY IT OFF... and even thats up for debate (Theres a lot of self-guilt in BKs) Does that make you morally corrupt because you settled or went BK? I dont think so...im also going to make an educated guess that most folks do NOT know their actual income.. they know what they make from their employer *ROUGHLY* but thats not the only place folks have/get/make income..... and round off stuff.. 

Am definitely playing the devils advocate on this issue

-J

[Anonymous]

I think it's a bad start for OP to get a credit card by inflating the income. If you make it a habit, then one day it will definitely bite you! Don't feel offended by my saying, but what I intend to say is be honest, as you have long way to go in your life and career. If your honest, you need not worry/afraid of anything in life :-) We all end up doing mistakes at the young age, that's why forums such as this exists, where people guide you to the right direction.

[Anonymous]

Why do you even need it so high? It's already over 70% of your ANNUAL INCOME... That's more than plenty. You can't even pay off $7,500 a month. Credit isn't about how high you can get your limits. Sure, many play that little game here, but many have some income to support high limits. Unfortunately, you just don't. Lying wasn't the right thing to do and I hope no future employers happen to find this. As stated, questionable character trait for sure.

[myjourney]

---

@joltdude wrote:

Theres also this amendment to the CARD act that might apply....

But this rule from the Consumer Financial Protection Bureau (CFPB) has amended the CARD Act.

The new rule says that banks can consider any “income or assets to which consumers have a reasonable expectation of access.”

Note that this change applies only to folks 21 years and older.

This may apply to the OP and/or cover his backside if the creditor calls him out on it..

Also using Annual Household Income is allowed by some creditors, and any retirement, IRA, 401k, etc are still assets....

A modest rounding of income is not blasphemy, esp if your income changes from year to year...it should be an average number and a reasonable expectation of what you make each year ..

That said. Do not think this card is a "good fit" for the OP...  though whats done is done, and id not be asking for any CLIs for at least a year or more...

Updating income would only cause a cascade of issues at this point.. but id defenitely try to stay under the radar...Sit tight, pay your bills generously or in full, and let it play out... 

I also suspect his parents even though they are only AU's technically, are paying for their transactions and spend so..... he has reasonable expectation of access to payment...

Also on the whole morals of the subject, the only slight moral quandry in credit is ARE YOU GOING TO PAY IT OFF... and even thats up for debate (Theres a lot of self-guilt in BKs) Does that make you morally corrupt because you settled or went BK? I dont think so...im also going to make an educated guess that most folks do NOT know their actual income.. they know what they make from their employer *ROUGHLY* but thats not the only place folks have/get/make income..... and round off stuff.. 

Am definitely playing the devils advocate on this issue

-J

---

Upon further review as the ref would say (instant replay) Lol

It would appear that OP is not even 21 but 20 

Which would have been another fraudulent item on any apps or this whole thread was a slight deviation of the truth 

[Imperfectfuture]

---

@myjourney wrote:

---

@joltdude wrote:

Theres also this amendment to the CARD act that might apply....

But this rule from the Consumer Financial Protection Bureau (CFPB) has amended the CARD Act.

The new rule says that banks can consider any “income or assets to which consumers have a reasonable expectation of access.”

Note that this change applies only to folks 21 years and older.

This may apply to the OP and/or cover his backside if the creditor calls him out on it..

Also using Annual Household Income is allowed by some creditors, and any retirement, IRA, 401k, etc are still assets....

A modest rounding of income is not blasphemy, esp if your income changes from year to year...it should be an average number and a reasonable expectation of what you make each year ..

That said. Do not think this card is a "good fit" for the OP...  though whats done is done, and id not be asking for any CLIs for at least a year or more...

Updating income would only cause a cascade of issues at this point.. but id defenitely try to stay under the radar...Sit tight, pay your bills generously or in full, and let it play out... 

I also suspect his parents even though they are only AU's technically, are paying for their transactions and spend so..... he has reasonable expectation of access to payment...

Also on the whole morals of the subject, the only slight moral quandry in credit is ARE YOU GOING TO PAY IT OFF... and even thats up for debate (Theres a lot of self-guilt in BKs) Does that make you morally corrupt because you settled or went BK? I dont think so...im also going to make an educated guess that most folks do NOT know their actual income.. they know what they make from their employer *ROUGHLY* but thats not the only place folks have/get/make income..... and round off stuff.. 

Am definitely playing the devils advocate on this issue

-J

---

Upon further review as the ref would say (instant replay) Lol

It would appear that OP is not even 21 but 20 

Which would have been another fraudulent item on any apps or this whole thread was a slight deviation of the truth 

---

I had noted that earlier as well.

[Closingracer99]

---

@myjourney wrote:

---

@joltdude wrote:

Theres also this amendment to the CARD act that might apply....

But this rule from the Consumer Financial Protection Bureau (CFPB) has amended the CARD Act.

The new rule says that banks can consider any “income or assets to which consumers have a reasonable expectation of access.”

Note that this change applies only to folks 21 years and older.

This may apply to the OP and/or cover his backside if the creditor calls him out on it..

Also using Annual Household Income is allowed by some creditors, and any retirement, IRA, 401k, etc are still assets....

A modest rounding of income is not blasphemy, esp if your income changes from year to year...it should be an average number and a reasonable expectation of what you make each year ..

That said. Do not think this card is a "good fit" for the OP...  though whats done is done, and id not be asking for any CLIs for at least a year or more...

Updating income would only cause a cascade of issues at this point.. but id defenitely try to stay under the radar...Sit tight, pay your bills generously or in full, and let it play out... 

I also suspect his parents even though they are only AU's technically, are paying for their transactions and spend so..... he has reasonable expectation of access to payment...

Also on the whole morals of the subject, the only slight moral quandry in credit is ARE YOU GOING TO PAY IT OFF... and even thats up for debate (Theres a lot of self-guilt in BKs) Does that make you morally corrupt because you settled or went BK? I dont think so...im also going to make an educated guess that most folks do NOT know their actual income.. they know what they make from their employer *ROUGHLY* but thats not the only place folks have/get/make income..... and round off stuff.. 

Am definitely playing the devils advocate on this issue

-J

---

Upon further review as the ref would say (instant replay) Lol

It would appear that OP is not even 21 but 20 

Which would have been another fraudulent item on any apps or this whole thread was a slight deviation of the truth 

---

Where did the OP state his age?  You don't need to go to College straight after High School thus assuming he is under 21 would just be an assumption....

[CreditCuriosity]

Really it simply comes down by OP's owns admission he lied or fudged his income.  Some people think this is ok and others probably being the majority believe that it is wrong.  People can try to justify whatever they want in life as has been seen by a few posts in this thread and they eventually will most likely learn the hard way in the long run.