Income & future apps question

[BluePoodle]

I will more than likely be taking on a new position later this year. The salary would be quite a bit more than I am currently making.  I had planned to apply some time in Jan or a little later for the CSP, Freedom and probably an Amex card.  I will also be able to request a cli with my current Amex card in Jan.  Should I just report my old income until I hit a year with my new position and can verify or will it matter since I would have my contract?

I just don't want to flag my cards with Chase or Amex or whoever I might apply with.  Thanks for the advise!

[BluePoodle]

Does anyone have any suggestions? 

[Anonymous]

I believe there is a way that you can update your income profile through the Amex website. I'm not sure about the others. I think as long as you can provide proof (bank statements, pay stubs, contract) you would be in the clear, but I would update it once you have some pay stubs that way you can send them into them now instead of when you are applying for a new card.

[1GaDawg85]

Update your income as soon as you sign the contract

[BluePoodle]

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@Anonymous wrote:

I believe there is a way that you can update your income profile through the Amex website. I'm not sure about the others. I think as long as you can provide proof (bank statements, pay stubs, contract) you would be in the clear, but I would update it once you have some pay stubs that way you can send them into them now instead of when you are applying for a new card.

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Ok, that's sounds good. I just didn't want to app and then my income be twice as much as a previously reported and have a red flag go up. I don't plan on apping until next year. But my 2014 taxes wouldn't reflect that increase so I was concerned if I was FR'd that I would be in trouble with this change. 

Would it pretty much be the same for most bank lenders? Chase is my other big concern since they have other cards I want. The others, not so much of an issue IMHO.

[BluePoodle]

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@1GaDawg85 wrote:

Update your income as soon as you sign the contract

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Well, I would have a contract. But if I were ever FR'd my 2014 tax returns would reflect old income, not new. So I am confused if they want income reported AFTER a year at that salary, or just based on what your contract and current pay stubs PROJECT your annual salary to be at.?  

I don't have a problem of providing documentation if requested, I just want to make sure I understand have they review your income historical or current contract $ amount.

[Closingracer99]

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@BluePoodle wrote:

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@1GaDawg85 wrote:

Update your income as soon as you sign the contract

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Well, I would have a contract. But if I were ever FR'd my 2014 tax returns would reflect old income, not new. So I am confused if they want income reported AFTER a year at that salary, or just based on what your contract and current pay stubs PROJECT your annual salary to be at.?  

I don't have a problem of providing documentation if requested, I just want to make sure I understand have they review your income historical or current contract $ amount.

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At worse I think they will Lower your limits if they happened to FR'ed you 

[BluePoodle]

But would the substantial salary increase be a red flag?  

[Closingracer99]

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@BluePoodle wrote:

But would the substantial salary increase be a red flag?  

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As long as your not spending over your previous income i dont see why they be worried ? I wouldn't put much thought about it lol. If you want to be safe put in your old income 

[BluePoodle]

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@Closingracer99 wrote:

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@BluePoodle wrote:

But would the substantial salary increase be a red flag?  

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As long as your not spending over your previous income i dont see why they be worried ? I wouldn't put much thought about it lol. If you want to be safe put in your old income 

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Haha, thanks! I overthink EVERYTHING!