Income for credit limit

[Anonymous]

I'm looking at applying for my first credit card. When they factor in your income, is it monthly income or annual income?

[dragontears]

Depends on the company, most ask for annual income in my experience

[Anonymous]

Credit card applications clearly state whether it's Annual Income or Monthly Income. Usually banks ask for Annual Income whereas CUs ask for Monthly Income.

[Anonymous]

On almost every credit card application I've encountered, annual income is what is asked for.

[Anonymous]

Do the credit card companies actually check if you are receiving this amount on your bank account?   what if someone puts down more or less than what they actually make?

[Anonymous]

They can ask for tax returns or pay stubs. It is not recommended to lie about your income.
However, one option you may have to help increase your chances is including household income.

Tweaked, pretty certain this is what you meant to say .  --Revelate

[Anonymous]

Its not the reason i'm asking, its just that i have a high salary and yet they dont care to give me CLI ....

[happypill]

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@Anonymous wrote:

Its not the reason i'm asking, its just that i have a high salary and yet they dont care to give me CLI ....

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Yes, you would think that income and ability to pay should be major factors in CLI, but that often doesn't prove to be the case.  If you follow along the forums here at myFICO, you'll see that each lender has their own idiosyncrasies regarding when & how much CLIs they give.  Some like to see heavy usage and PIF, some will match your existing limits on other cards (not helpful if all your limits are lower), and some will give CLI's at certain time intervals, etc.  Usually it's a combination of factors and income is just one factor.  Score is another factor, but it's not the end-all either (as some are wont to believe).

If you point out specifically which card(s) you're trying to get a CLI on, I'm sure you'd get some great guidance from members here.